forexsq.com - The UBS consumption indicator rose dramatically in March, lying at 1.22 points. The brightening of business activity in the retail sector and the record-high number of new car registrations are the main factors behind the increase. Despite the strong franc, the first few months of this year also saw a year-on-year rise in Swiss residents' overnight stays in hotels in Switzerland. No
forexsq.com - Business conditions in China improved for manufacturers in April from levels seen in the previous month, although activity in the sector continued to decline, data released by HSBC showed Monday, prompting calls for Beijing to loosen its policies.
HSBC’s preliminary “flash” Purchasing Managers’ Index rose to a two-month high of 49.1, compared with a final reading of 48.3 in March
forexsq.com - In the March quarter 2012, the final (Stage 3) index fell 0.3%, the intermediate (Stage 2) index rose 0.3% and the preliminary (Stage 1) index rose 0.1%. Through the year to the March quarter 2012, the final (Stage 3) index rose 1.4%, the intermediate (Stage 2) index rose 2.8% and the preliminary (Stage 1) index rose 3.4%. The fall of 0.3% in the final (Stage 3) index reflected a de
forexsq.com - Another vast pledge to save the euro, another chance lost to break the hold of Europe’s austerity mystics and force a shift in strategic direction. “We’re north of a trillion dollars,” said Christine Lagarde, the International Monetary Fund’s queen bee. Kudos to her for netting such sums in her Louis Vuitton handbag but what exactly does this achieve, given that Europe remains bent
forexsq.com - Consumer prices rose 1.9% between March 2011 and March 2012, following a 2.6% increase in February. This 0.7 percentage point difference was largely the result of slower year-over-year increases in prices for food and energy. Food prices rose 2.2% in the 12 months to March, following a 4.1% increase in February. This slower increase was the result of a month-over-month decline in fo
In the week ending April 14, the advance figure for seasonally adjusted initial claims was 386,000, a decrease of 2,000 from the previous week's revised figure of 388,000. The 4-week moving average was 374,750, an increase of 5,500 from the previous week's revised average of 369,250. The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending April 7, unchanged f
forexsq.com - Value of retail sales in March 2012 increased by 5.7 per cent when compared with March 2011. •Headline: Sales volumes in March 2012 increased by 3.3 per cent when compared with March 2011. •Sales volumes growth was driven by other stores, non-store retailing and predominantly automotive fuel. •The year-on-year implied price deflator in March 2012 rose to 2.5 per cent from 2.4 per ce
forexsq.com - Spain’s surging bad loans are spurring doubt on whether the government can persuade investors that it can clean up the country’s banks without further damaging public finances.
Non-performing loans as a proportion of total lending jumped to 8.16 percent in February, the highest level since 1994, from less than 1 percent in 2007, according to Bank of Spain data published today. Th
The International Monetary Fund said on Wednesday it had raised $320 billion so far in a bid to boost its firepower to deal with the euro zone debt crisis, with Poland and Switzerland joining the effort.
IMF Managing Director Christine Lagarde said she had received commitments of $34 billion on Wednesday, including $8 billion from Poland and "a substantial amount" from Switzerland.
forexsq.com - Spain will see its borrowing costs leap when it sells short-term debt on Tuesday, a day after investor concern over its deficit and banking sector pushed longer term risk premiums above 6 percent, threatening a new crisis in the euro zone. The auction of 12- and 18-month Treasury bills will test market nervousness, which has spread to Italy, before a more challenging sale on Thursda
forexsq.com - Builders began construction on new U.S. homes at a slower pace in March, but permits jumped to the highest level since September 2008, the Commerce Department reported Tuesday. Housing starts fell 5.8% last month to an annual rate of 654,000 from a slightly revised 694,000 in February. Economists surveyed by MarketWatch had expected housing starts in March to rise to an annual rate
forexsq.com - Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit money to boost the fund's financial firepower to contain the euro zone debt crisis. Finance Minister Jun Azumi said Japan hoped Tokyo's contribution, which will be formally announced at a Group of 20 financial leaders' meeting later this wee
Retail spending in the U.S. rose sharply for the third straight month, up 0.8% in March, as consumers continued to splurge on a wide range of goods and services, the government reported Monday. Sales rose fastest for building materials, autos, home furnishings, electronics and appliances and clothing, the Commerce Department said. Sales excluding the auto sector also rose 0.8% last month. Economi
forexsq.com - German 10-year Bund yields hit a fresh record low on Monday on persistent concerns that Spain's failure to convince investors it can keep its budget deficit in check could cause a new round of financial stress in the euro zone.
The latest blow to Spanish markets was triggered by data on Friday that showed record borrowing by its banks from the European Central Bank. It is likely
forexsq.com - For the second time in five months, Bank of America is tapping the red-hot market for repossessed homes in the US by seeking bids on a bulk offering of several hundred single-family homes.
Over the past several weeks, the nation's second-largest bank by assets has solicited bids for a bulk deal that includes up to 500 largely vacant single-family homes, some of which it acquired