The International Energy Agency nudged up its global oil demand growth forecast for the year 2013, citing demand strength.
The IEA, in its monthly Oil Market Report released Wednesday, moved up its global oil demand forecast for the year 2013 and 2014 by 1.2 million barrels per day (mbd) each on...
European finance ministers on Tuesday took one step further in finalizing an agreement on a joint mechanism to deal with failing banks, despite visible divisions among member countries over the key measures of the plan. Though the ministers failed to arrive at a precise agreement on Tuesday's meeting, they appeared keen to finalize the banking resolution plan before the EU leaders meeting.
Core machine orders in Japan added a seasonally adjusted 0.6 percent on month in October, the Cabinet Office said on Wednesday - coming in at 807.2 billion yen.
The headline figure missed forecasts for a gain of 0.7 percent following the 2.1 percent contraction in September.
On a yearly basis,...
After years of debate, federal regulators have voted to approve the final version of a rule designed to prevent federally insured banks from engaging in risky trading. The final rules prohibit banks from engaging in short-term proprietary trading of certain securities, derivatives, commodity futures and options on these instruments merely for profit.
The dollar has lost ground against both the Japanese Yen and the Euro on Tuesday, but is little changed overall against the pound sterling. After a series of speeches by top central bankers, investors are coming to grips with the possibility that the Federal Reserve may begin tapering its stimulus measures...
Wholesale inventories in the U.S. rose by much more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said wholesale inventories jumped by 1.4 percent in October following an upwardly revised 0.5 percent increase in September. Economists had been expecting inventories to increase by about 0.4 percent.
British industrial production increased for the second straight month in October, boosting hopes of a strong recovery in the fourth quarter, the Office for National Statistics said Tuesday. Further, the trade data today showed that the visible trade gap narrowed as imports declined more than shipments in October.
Chinese retail sales growth accelerated in November to the strongest pace so far this year, while industrial production and fixed asset investments trailed forecasts, the latest figures from the National Bureau of Statistics revealed Tuesday, giving mixed signals on the prospects of the economy. Retail sales grew 13.7 percent year-on-year in November following a 13.3 percent gain in October.
Industrial production and foreign trade from the U.K. are due on Tuesday, headlining a busy day for the European economic news.
The Eurozone finance ministers said on Monday that Greece's creditors are unlikely to conclude the ongoing review of the country's fiscal adjustment program in December as more progress is required on the already agreed measures. The Troika comprising the International Monetary Fund, the European Union and the European Central Bank will return to Athens on Tuesday.
An index monitoring business confidence in Australia saw a score of +5 in November, the latest survey from National Australia Bank revealed on Tuesday.
That's down from the upwardly revised +6 in October (originally +5).
The index for business conditions showed improvement in November but remained...
The total value of credit card spending in New Zealand collected a seasonally adjusted 0.2 percent in November compared to the previous month, Statistics New Zealand said on Tuesday - following the 1.1 percent increase in October.
Total retail credit card spending - which also includes the motor vehicle-related...
The dollar is maintaining the early gains it posted against the Japanese Yen at the start of the new trading week. However, the U.S. currency is slightly weaker against its major European competitors.
The recent string of strong U.S. economic reports, including Friday's stronger than expected jobs...
Casting doubt over the sustainability and strength of recovery, German industrial production declined for the second consecutive month in October with contractions in all sub-sectors. Moreover, exports from the largest euro area economy slowed notably. Industrial production fell unexpectedly by 1.2 percent month-on-month, while it was forecast to rise 0.7 percent, data showed Monday.
Industrial production and foreign trade data from Germany are due on Monday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is slated to release foreign trade figures. The trade surplus is seen at EUR 18.3 billion in October, down from EUR 20.4 billion in September.