The Canadian currency dropped for a third consecutive day as the U.S. government could not find a compromise and remained shut. Canada's Dollar fell 0.1% to C$1.0376 per U.S. Dollar as of 7:49 a.m. Toronto time, after touching the lowest level since September 10. The Loonie has retreated 2.2% yearly versus its most-traded peers; however, U.S. Dollar gas advanced 2.8%
U.K. shares were little changed trading near the lowest level in three months on concerns that the U.S. government shutdown could lead to a default. The FTSE 100 Index gained 0.1% to 6,371.45 as of 10:18 a.m. London time; however, the gauge has fallen 3.9% from its highest level on September 19. The FTSE All-Shares Index were little changed, while
Gold swung between gains and losses on Wednesday as investors weighted persisting deadlock in the U.S. in debate between President Barack Obama and congressional lawmakers about the new debt ceiling. Bullion for delivery in October advanced 0.5% after it dropped 0.2% and it was at $1,318.86 an ounce as of 2:22 p.m. Singapore time.
United Kingdom's industrial output surprisingly dropped in August from the previous month mainly due to a 1.2% decrease in manufacturing production after it advanced two months in a row, a report released by the Office for National Statistics revealed on Wednesday. Industrial production in the UK slipped 1.1% in August, while it was forecast to gain 0.4%.
The United Kingdom trade balance came in deficit in the month of August, however, the trade balance narrowed as the pace of growth in exports exceeded imports, the Office for National Statistics reported on Wednesday. According to the report, exports of goods advanced by 1.1% on a monthly basis to 25.1 billion pounds, while imports slipped 0.1% to 34.7 billion
Asian shares outside Japan declined on worries that the U.S. government shutdown could end with a default and after the IMF cut its worldwide outlook. The MSCI Asia Pacific ex-Japan Index slipped 0.2% to 465.90 at 3:38 p.m. Tokyo time, while the broader regional equity-benchmark added 0.2% to 138.81. The Topix gained 1.5%, the most since September 19.
The British currency depreciated for a second straight day versus the greenback ahead of manufacturing data that are expected to show growth in August. The Sterling slipped 0.2% to $1.6054 as of 8:01 a.m. London time, after falling 0.1% on Tuesday, while the Pound was at 84.44 pence per Euro.
The U.S. President Obama will name Janet Yellen as the next Chairman of the Fed, meaning that the nation's central bank will be led by the woman for the first time in its history. The event will be held at 3 p.m. today Washington time, according to a White House official's statement. The Fed Chairman Ben Bernanke's term expires on
The Australian Dollar was near its strongest level in approximately three weeks ahead of domestic jobs data and after the statement that Janet Yellen will be nominated as Fed's Chairman. The Aussie gained 0.1% to 94.34 U.S. cents at 4:41 p.m. Sydney time after advancing 0.3% earlier, while the Kiwi traded at 82.88 U.S. cents, after climbing 0.4% on Tuesday.
The Japanese Yen depreciated versus all its most-traded peers as a White House representative stated that U.S. President Barack Obama will nominate Janet Yellen as the next Fed's head. The Yen dropped 0.5% to 132.14 per Euro at 6:52 a.m. London time, sliding for a second straight day, while the currency fell 0.6% to 97.41 per Dollar.
European shares dropped for a third straight day on investor worries that the U.S. government shutdown could end with a default. The Stoxx Europe 600 Index slid 0.3% to 305.87 as of 8:07 a.m. London time. The gauge has declined 1.3% weekly, after the U.S. Speaker Boehner stated that there will be conditions added before accepting a bill to raise
South Korean money supply growth decelerated in the month of August to the lowest level in two months amid slower increase of bank lending, a report released by the Bank of Korea revealed on Wednesday. According to the report, M2 money supply advanced 3.9% on a monthly basis in August, the least since July 2011, after it advanced by 4.6%
Reserve purchases of cotton in the world's largest consumer, China, have slowed down after the quality requirements were raised by the government, a report released by the textile research Sinotex.cn showed on Wednesday. Cotton for settlement in January was traded at 19,930 Yuan a metric ton as of 11:29 a.m. on Zhengzhou Commodity Exchange.
U.S. Treasuries recorded a modest gain on Wednesday with the five-year notes snapping a drop from yesterday as the country's President Barack Obama said Janet Yelled is set to replace Ben Bernanke as Chairwoman of the Fed, suggesting that borrowing costs are likely to stay low. 5-year securities slipped 0.01% to 1.41% at 1:54 p.m. Tokyo time.
West Texas Intermediate oil fluctuated on Wednesday trading session amid signs that the U.S. deadlock might come to an end as policymakers took further steps in order to agree on the new debt ceiling. November WTI futures were little changed at $103.51 a barrel, up 2 cents on the NYMEX as of 12:24 p.m. in Singapore after the prices advanced
Bank of Japan Deputy Governor Hiroshi Nakaso claimed on Wednesday that there is no need to ease the central bank's monetary stimulus program as the economy is improving and the nation might be able to reach a 2% inflation target set by the central bank. The BoJ might pump more liquidity into the economy in April in order to achieve
The U.S. Dollar strengthened on Wednesday rising against the Japanese Yen as President Barack Obama picked Janet Yellen as a replacement of Ben Bernanke as the Federal Reserve Vice Chairwoman, however, the persisting deadlock kept the so-called Greenback close its 8-month low. The U.S. Dollar advanced 0.4% to 97.22 Yen after it recorded the lowest level in 2 months yesterday
Asian equities tumbled on Wednesday as the deadlock in talks between the U.S. President Barack Obama and congressional politics continued when they failed to agree in the new debt ceiling to avoid the country's technical default. MSCI' broadest Asia-Pacific index outside of Japan slipped 0.3%, while Japan's benchmark index Nikkei erased its previous losses.
Machine tool orders in the Asian second-largest economy fell on an annual basis in September mainly due to a steep drop in export demand, the Japan Machine Tool Builders' Association reported on Wednesday. The report showed that the total figure of machine tool orders slipped 6.3% in September as the export market orders declined 23.4% in same the month.
Factory orders in the Eurozone's largest economy surprisingly declined in the month of August mainly due to weaker demand from the 17-nation bloc, while exports advanced, the Federal Ministry of Economics and Technology showed on Tuesday. Factory orders fell 0.3% on a monthly basis in August, whereas exports increased 1% month-on-month in the same month.
Service sector in China slowed down in the month of September, although the gauge measuring the performance of the sector stayed above a level of 50 signalling expansion, a survey published by the HSBC and Markit Economics showed on Tuesday. The HSBC/Markit services business activity index decreased from 52.8 in August to 52.4 in September.
Spain's government bonds decreased on Tuesday as the benchmark 10-year yields slipped for the second straight day as the country is trying to prolong the maturity of its debt in an auction in the near future. The benchmark 10-year government bonds were traded eight basis points lower at 4.29% as of 4:48 p.m. in London following a drop to 4.10%
Swiss Federal Statistics Office has announced a 0.1% annual deflation in September, while in August prices remained flat. It is expected the deflation to reach 0.2% in 2013 before turning back into 0.3% inflation in 2014. Alongside, retail sales in Switzerland surged 2.4% in August after a 0.6% advance the month earlier. Moreover, the non-food sales jumped as much as
American lawmakers are still negotiating the conditions, on which the U.S. budget will become unlocked and debt ceiling of $16.7 trillion will be increased. Meanwhile, the Congress Republicans and President Barack Obama still have no common decision. On the other hand, the Senate Democrats are preparing to have a test vote on budget ceiling rise without any policy changes from