US durable goods orders rise less than forecast in March

  • 27/04/2017 12:29 PM
  • Ahmed Mamdouh
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U.S. durable goods orders rose less than forecast in March, where purchases of long-lasting goods reported a 0.7 percent increase after a revised 1.8 percent soar in February. Analysts predicted a 1.5 percent advance. Core durable goods edged down 0.2 percent from a revised 0.5 percent surge, compared to projections of 0.4 percent increase. As of 12:48 GMT, the dollar traded lower aga...

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Spain unemployment reports first quarterly rise in two years

  • 27/04/2017 11:09 AM
  • Ahmed Mamdouh
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Spain’s unemployment rose in the first quarter, marking the first quarterly increase in two years, relatively owing to the end of temporary jobs tied to the winter holiday, figures from the national statistics institute INE showed. The number of people out of work edged up by 17,200 in the first three months this year, pushing the total number of unemployed people to nearly 4.3 million. The jo...

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Twitter posts strong quarterly profit on higher active user

  • 26/04/2017 13:04 PM
  • Ahmed Mamdouh
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Social Networking Site Twitter reported a better than forecast quarterly profit in the first three months of 2016 due to the sharp rise in active users.The average number of monthly active users soared by 6 percent to 328million in the three months ended March 31 from a year earlier.Net loss narrowed to $61.6 million in the first quarter from $79.7 in the same quarter a year ago, while quart...

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US consumer confidence retreats, new home sales rise

  • 25/04/2017 15:08 PM
  • Ahmed Mamdouh
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U.S. data released on Tuesday signaled a retreat in consumer confidence in April, while new home sales rose above analysts’ projections. The Conference Board’s consumer confidence index scored 120.3 in April, down from a revised of 124.9, the highest level in more than 16 years. Analysts had predicted a drop to 123.7.New home sales, on the other hand, climbed to the highest level in eight mo...

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Germany’s growth pace likely accelerated in the first quarter, Bundesbank says

  • 24/04/2017 14:22 PM
  • Ahmed Mamdouh
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Germany’s economy likely have grown strongly in the first three months of 2016 on progress in the industrial sector and household consumption, the Bundesbank said in its monthly report released on Monday. The Bundesbank explained that the strong industrial orders, buoyant manufacturing sentiment and recovery in exports probably gave an uplift in the first quarter, following the dip at the en...

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UK retail sales report sharpest quarterly decline since 2010

  • 21/04/2017 11:05 AM
  • Ahmed Mamdouh
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U.K. retail sales reported the sharpest quarterly fall in seven years in the first three months this year, as the rise in prices dented household spending. Sales volume slipped 1.4 percent from the last quarter of 2016, the strongest since early 2010, while sagged 1.8 percent in March, coming below analysts’ projections of 0.3 percent slide. The year-on-year reading showed that sales volume...

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Eurozone business activity rises to six-year high in March

  • 21/04/2017 09:16 AM
  • Ahmed Mamdouh
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Eurozone business activity accelerated to the highest level in six years in April, according to the flash Purchasing Managers’ Index released on Friday. The Composite PMI index -manufacturing and services- climbed to 56.7 in April from 56.4 in March, pointing to the continuation of strong growth in the second quarter.  Manufacturing PMI rose from 56.2 in March to 56.8, the highest record in s...

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US jobless claims rise above forecasts

  • 20/04/2017 13:04 PM
  • Ahmed Mamdouh
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U.S. jobless claims rose above forecasts last week, yet continuing claims dropped to the lowest level in 17 years to reflect the strength of the labor market. First-time Americans filing applications for jobless benefits edged up by 10,000 to 244,000 in the week ended April 15, the Labor Department report showed Thursday. Analysts had predicted a retreat to 241,000. The less volatile four-wee...

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Euro area CPI confirms 1.5% rise in March

  • 19/04/2017 08:57 AM
  • Ahmed Mamdouh
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Euro area annual inflation confirmed a 1.5 percent rise in March, according to the final consumer price index released on Wednesday.CPI for the year through March showed 1.5 percent rise, moving in line with both preliminary and expected readings.Annual core recorded 0.7 percent, unrevised from the preliminary reading. Inflation in the 19-nation region eased from 2 percent in February, buoye...

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US housing starts fall more than forecast, building permits rise

  • 18/04/2017 12:35 PM
  • Ahmed Mamdouh
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U.S. housing starts retreated more than forecast in March, while building permits edged up, the Commerce Department data showed Tuesday. Housing starts slipped to 1.22 million units from a revised of 1.30 million, coming below estimates of 1.25 million. Building permits came in at 1.26 million, above a revised of 1.22 million, while analysts had predicted a rise to 1.25 million. A...

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China home prices surge in most cities ahead of further curbs

  • 18/04/2017 09:33 AM
  • Ahmed Mamdouh
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Figures from the National Bureau of Statistics released on Tuesday signaled a rise on most Chinese cities in March ahead of further curbs on property purchases.Prices of new homes increased in 62 out of 70 last month, up from 56 cities in February, where prices dropped in eight cities. China’s officials have vowed to put strong restrictions on home purchases in large cities to prevent a hous...

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US consumer prices report first fall in more than a year

  • 14/04/2017 12:45 PM
  • Ahmed Mamdouh
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U.S. producer prices unexpectedly reported the first drop in more than a year in March, a report from the Labor Department released on Friday showed.  The consumer prices index (CPI) showed 0.3 percent fall last month, marking the first monthly slide since February 2016, after a 0.1 percent surge in February. Analysts had called for no change.  Core CPI recorded a 0.1 percent plunge, compare...

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US producer prices drop for the first time in five months

  • 13/04/2017 12:46 PM
  • Ahmed Mamdouh
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U.S. producer prices unexpectedly dropped in March, a report from the Labor Department released on Thursday showed.  The producer price index (PPI) showed 0.1 percent decrease last month, marking the first monthly fall in five months consecutive monthly gain, after a 0.3 percent rise in February. Analysts had called for no change.  Core PPI also was unchanged, compared to both prior and expec...

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US private employers create more than projected jobs

  • 05/04/2017 12:37 PM
  • Ahmed Mamdouh
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U.S. ADP employment, which shows the hiring by private sector employers, came comfortably higher than analysts’ forecasts in March, pointing the strength in the labor market. Employers added 263,000 jobs the previous month from a downwardly revised of 245,000 jobs in February, compared to analysts’ estimates of 184,000.Investors carefully watch today’s data as it provides an indication about...

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UK services PMI signals widening expansion in March

  • 05/04/2017 09:18 AM
  • Ahmed Mamdouh
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U.K. services PMI showed a widening expansion in March, offsetting the retreat in both manufacturing and construction. Markit’s services Purchasing Managers’ Index edged up to 55.0 last month from 53.3 in February, coming above forecasts of 53.5.Construction PMI slipped to 55.2 in March from 52.5 in February, while manufacturing PMI eased growth to 54.2 in March from a revised of 54.5 a mont...

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Euro area business activity hits highest level in six years

  • 05/04/2017 09:05 AM
  • Ahmed Mamdouh
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Euro-area business activity strengthened to the highest level in nearly six years in March, pointing to a solid growth in the first three months of 2017. A Composite Purchasing Managers’ Index of manufacturing and services soared to 56.4 in March from 56 in February, yet that was below both flash and estimated readings of 56.7.The manufacturing sector signaled a widening expansion to 56.2 an...

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UK construction sector growth cools in March

  • 04/04/2017 11:50 AM
  • Ahmed Mamdouh
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U.K. construction sector’s growth cooled in March, adding to signs the pace of economic growth has lost steam in the first quarter. Markit’s construction Purchasing Managers’ Index slipped to 55.2 last month from 52.5 in February, coming below forecasts of 52.4.Data released this week showed that U.K. manufacturing PMI eased to 54.2 in March from a revised of 54.5 a month earlier. Any readin...

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UK manufacturing sector’s expansion slows for third month

  • 03/04/2017 13:54 PM
  • Ahmed Mamdouh
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U.K. manufacturing sector showed a slowdown in the pace of expansion for a third straight month in March, where investors will keep their eyes on construction and services data due later in the week. Manufacturing PMI eased to 54.2 last month from a revised of 54.5 in February, missing analysts’ projections of 55.1. Any reading below 50 means contraction and the opposite is true....

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Euro area inflation slows more than forecast

  • 31/03/2017 11:33 AM
  • Ahmed Mamdouh
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Euro-area inflation retreated more than forecast in March on drop in energy prices, the flash consumer price index data showed Friday. Annual CPI rose 1.5 percent in the year ended March, down from 2.0 percent, coming below analysts’ forecasts of 1.8 percent. Core CPI, which excludes volatile items such as energy, showed 0.7 percent rise, compared to both prior and predicted readings of 0.9 pe...

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UK Confirms 0.7% Growth In Q4, Services Lead Expansion

  • 31/03/2017 09:28 AM
  • Ahmed Mamdouh
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The final gross domestic product reading for the U.K. released on Friday confirmed a 0.7 percent expansion in the three months through December. The reading remained unchanged from the preliminary and in line with median forecasts. In 2016 as a whole, Britain grew 1.6 percent. The predominant services sector continued to lead growth with 0.8 percent, while industry and construction grew by 0.4...

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