The dollar is currently trading with mixed results against its major competitors at the end of the trading week. The U.S. currency is rising against the Japanese Yen, but is weakening against the Euro after the November jobs report showed better than expected employment growth and a drop in the unemployment...
Consumer sentiment in the U.S. has improved by much more than anticipated in the month of December, according to a report released by Thomson Reuters and the University of Michigan on Friday. The report said the preliminary reading on the consumer sentiment index for December jumped to 82.5 from the final November reading of 75.1. Economists had been expecting the index to edge up to 75.5.
While the Commerce Department released a report on Friday showing an unexpected drop in U.S. personal income in the month of October, the report also showed continued growth in personal spending. The report said personal income edged down by 0.1 percent in October after rising by 0.5 percent in each of the two previous months.
In another upbeat sign for the U.S. labor market, the Labor Department released a report on Friday showing that stronger than expected job growth in the month of November pushed the unemployment rate down to a five-year low. The report showed that non-farm payroll employment rose by 203,000 jobs in November following a revised increase of 200,000 jobs in October.
Driven by broad-based weakness in domestic and foreign demand, German factory orders fell at the fastest pace in a year in October, official data showed Friday. Factory orders were down 2.2 percent in October from September, the most since November 2012, according to figures released by the Federal Ministry of Economics and Technology.
Factory orders data from Germany is due on Friday, headlining a light day for the European economic news.
An index monitoring the construction sector in Australia posted a score of 55.2 in November, the latest survey from the Australia Industry Group and the Housing Industry Association revealed on Friday.
That's up from 54.4 in October - which was the first reading since May 2010 to show expansion with...
The dollar is losing ground against the Euro and the Japanese Yen on Thursday, but is gaining ground against the pound sterling. Third quarter GDP and U.S. weekly jobless claims both came in better than expected on Thursday. The recent string of stronger than expected U.S. economic data has investors...
After reporting a notable increase in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Thursday showing that orders pulled back by less than expected in October.
European Central Bank President Mario Draghi said on Thursday that the central bank stands ready to use all policy tools, when necessary, as it sees inflation below its target of about 2 percent in the next two years. "We may experience a prolonged period of low inflation, to be followed by a gradual upward movement towards inflation rates below, but close to, 2% later on," Draghi said.
Reflecting upward revisions to private inventory investment and non-residential fixed investment, the Commerce Department released a report on Thursday showing that U.S. economic activity grew by much more than previously estimated in the third quarter of 2013.
The Commerce Department said U.S. gross domestic product increased by an upwardly revised 3.6 percent in the third quarter.
First-time claims for U.S. unemployment benefits unexpectedly showed a notable decrease in the week ended November 30th, according to a report released by the Labor Department on Thursday, although the data was likely impacted by the Thanksgiving Day holiday. The report said initial jobless claims fell to 298,000, a decrease of 23,000 from the previous week's revised figure of 321,000.
The Bank of England left its key policy rates unchanged on Thursday, while Chancellor of Exchequer George Osborne said in his autumn statement that the economy is better placed than they had expected early this year. In his 2013 Autumn Statement, Osborne said Britain's economic plan is working and the hard work of the British people is paying off.
The European Central Bank maintained status quo in the final policy meeting of the year as the differences within the rate-setting body over the surprise November rate cut are yet to be sorted out. That said, analysts expect the central bank to take action in the coming months, if deflationary tendencies persist and the fragile economic recovery in the euro area fizzles out.
After the surprise move to lower the key interest rate to a record low last month, the European Central Bank is likely to sit tight in the final policy session of this year as the differences within the rate-setting body over the latest rate cut are yet to settle down.
That said, analysts expect the...