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Japan Has Y439.907 Billion Trade Surplus
Japan had a merchandise trade surplus of 439.907 billion yen in June, the Ministry of Finance said on Thursday.
That was shy of expectations for a surplus of 488.0 billion yen following the 204.2 billion yen deficit in May.
Exports were up 9.7 percent on year, topping expectations for an increase of 9.5 percent following the 14.9 percent jump in the previous month.
Imports climbed an annual 15.5 percent versus forecasts for 14.4 percent after gaining 17.8 percent a month earlier.
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Japan had a merchandise trade surplus of 439.907 billion yen in June, the Ministry of Finance said on Thursday.
That was shy of expectations for a surplus of 488.0 billion yen following the 204.2 billion yen deficit in May.
Exports were up 9.7 percent on year, topping expectations for an increase of 9.5 percent following the 14.9 percent jump in the previous month.
Imports climbed an annual 15.5 percent versus forecasts for 14.4 percent after gaining 17.8 percent a month earlier.
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Wall Street Advanced, Buoyed by Better-than-Expected Earnings
U.S. equities finished at record peaks on Wednesday as investors priced in key quarterly earnings.
The Dow Jones industrial average ended at a record peak, climbing 0.31 percent to 21,640.75. The Nasdaq composite gained 0.64 percent to finish at a record high of 6,385.04, also touching an intraday all-time peak.
The S&P 500 advanced 0.54 percent at 2,473.83, a record, with Vertex Pharmaceuticals leading the index higher, climbing 21 percent. The index also posted an intraday record. The technology sector also boosted the S&P, which broke above its all-time peak set in March 2000.
The S&P tech sector has been the best-performing sector in 2017 with a 22.8 percent gain.
Among stocks active in corporate news, Morgan Stanley posted higher-than-expected second quarter results across the board, as trading revenue came in above expectations. Other banks like Citigroup, Goldman Sachs and JPMorgan Chase saw their trading businesses struggle in the previous quarter.
IBM weighed on the Dow after its quarterly revenue came in below expectations. The stock dropped 4.2 percent to $147.53, having touched a 13-month low of $146.71.
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U.S. equities finished at record peaks on Wednesday as investors priced in key quarterly earnings.
The Dow Jones industrial average ended at a record peak, climbing 0.31 percent to 21,640.75. The Nasdaq composite gained 0.64 percent to finish at a record high of 6,385.04, also touching an intraday all-time peak.
The S&P 500 advanced 0.54 percent at 2,473.83, a record, with Vertex Pharmaceuticals leading the index higher, climbing 21 percent. The index also posted an intraday record. The technology sector also boosted the S&P, which broke above its all-time peak set in March 2000.
The S&P tech sector has been the best-performing sector in 2017 with a 22.8 percent gain.
Among stocks active in corporate news, Morgan Stanley posted higher-than-expected second quarter results across the board, as trading revenue came in above expectations. Other banks like Citigroup, Goldman Sachs and JPMorgan Chase saw their trading businesses struggle in the previous quarter.
IBM weighed on the Dow after its quarterly revenue came in below expectations. The stock dropped 4.2 percent to $147.53, having touched a 13-month low of $146.71.
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European Stocks Retreat as Euro Firms on Draghi Comments
European stocks dropped as investors claim exporters will suffer due to a stronger euro, following European Central Bank President Mario Draghi's remarks which buoyed the common currency.
The pan-European Stoxx 600 Index closed 0.4 percent lower. The benchmark trimmed a gain that hit 0.5 percent prior to when Draghi said officials will discuss altering the ECB's bond-buying program.
A stronger currency has become a concern for investors amid the second-quarter earnings season, as strategists at Deutsche Bank warned that every ten percent in the euro takes five percent off the STOXX 600's earnings.
Europe's basic resources sector was the largest decliner, losing 1.9 percent, with export-heavy aerospace defense companies and autos all under pressure.
European banks fell 0.4 percent, led lower by a 5.2 percent decline in Nordea's shares. The Nordic region's largest bank by market value dropped after posting second-quarter operating earnings below analysts' estimates. Danske Bank fell 1.4 percent following its quarterly earnings.
Germany's Lufthansa led the travel and leisure sector, which tumbled 8.6 percent. British budget airline easyJet dropped almost six percent following cautious comments on the outlook for summer pricing.
Technology stocks were led higher by Ingenico Group, rising over five percent, after reports that it will buy rival Bambora for 1.5 billion euros. Tags: Eurozone, Stocks, bonds, Equity markets
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European stocks dropped as investors claim exporters will suffer due to a stronger euro, following European Central Bank President Mario Draghi's remarks which buoyed the common currency.
The pan-European Stoxx 600 Index closed 0.4 percent lower. The benchmark trimmed a gain that hit 0.5 percent prior to when Draghi said officials will discuss altering the ECB's bond-buying program.
A stronger currency has become a concern for investors amid the second-quarter earnings season, as strategists at Deutsche Bank warned that every ten percent in the euro takes five percent off the STOXX 600's earnings.
Europe's basic resources sector was the largest decliner, losing 1.9 percent, with export-heavy aerospace defense companies and autos all under pressure.
European banks fell 0.4 percent, led lower by a 5.2 percent decline in Nordea's shares. The Nordic region's largest bank by market value dropped after posting second-quarter operating earnings below analysts' estimates. Danske Bank fell 1.4 percent following its quarterly earnings.
Germany's Lufthansa led the travel and leisure sector, which tumbled 8.6 percent. British budget airline easyJet dropped almost six percent following cautious comments on the outlook for summer pricing.
Technology stocks were led higher by Ingenico Group, rising over five percent, after reports that it will buy rival Bambora for 1.5 billion euros. Tags: Eurozone, Stocks, bonds, Equity markets
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MERCOSUR: Bloc Could Expel Venezuela, Says Argentina Minister
Mercosur will permanently expel Venezuela from the bloc if the country's government advances with its intentions to call for a Constituent Assembly election on July 30, said the Argentinean Foreign Minister Jorge Faurie at the sidelines of the bloc summit in Mendoza.
"Some may read it as an expelling, but at the moment we do not have to discuss if it is a suspension of this or that. We have to talk about the fact that there is no democracy in Venezuela, and we will ratify it if there is no capacity for dialogue," the chancellor told reporters.
Venezuela was suspended from Mercosur for disrespecting the bloc's regulations. Earlier, Argentina President Mauricio Macri said that Mercosur is expecting the early adoption of an electoral calendar.
President Nicol?s Maduro's opponents carried out a 24-hour national strike as a part of the "zero hour" initiative, which seeks the president's resignation.
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Mercosur will permanently expel Venezuela from the bloc if the country's government advances with its intentions to call for a Constituent Assembly election on July 30, said the Argentinean Foreign Minister Jorge Faurie at the sidelines of the bloc summit in Mendoza.
"Some may read it as an expelling, but at the moment we do not have to discuss if it is a suspension of this or that. We have to talk about the fact that there is no democracy in Venezuela, and we will ratify it if there is no capacity for dialogue," the chancellor told reporters.
Venezuela was suspended from Mercosur for disrespecting the bloc's regulations. Earlier, Argentina President Mauricio Macri said that Mercosur is expecting the early adoption of an electoral calendar.
President Nicol?s Maduro's opponents carried out a 24-hour national strike as a part of the "zero hour" initiative, which seeks the president's resignation.
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UK Consumers Face Highest Pressure in 3 Years - IHS Markit
The financial situation of British consumers has weakened at its quickest rate in three years in July, with families increasingly shying away from bigger purchases like automobiles, holidays and household appliances, a survey revealed.
Financial data firm IHS Markit said its monthly Household Finance Index fell to 41.8 from June's 43.7, its lowest since July 2014, which reveals a persistent squeeze on household incomes as inflation increases quicker than wages.
IHS Markit said only 27 percent of the households it surveyed expects rates to increase in the next six months, the weakest rate since October. The latest survey also revealed the willingness of households to make large purchases, which has dropped to its weakest since December 2013.
British consumer price inflation hit its highest in almost four years at nearly three percent in May, before softening in June. However, annual wage growth is less than two percent.
Official data set to be released on Wednesday is seen to show that economic growth accelerated only slightly in the three months to the end of June.
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The financial situation of British consumers has weakened at its quickest rate in three years in July, with families increasingly shying away from bigger purchases like automobiles, holidays and household appliances, a survey revealed.
Financial data firm IHS Markit said its monthly Household Finance Index fell to 41.8 from June's 43.7, its lowest since July 2014, which reveals a persistent squeeze on household incomes as inflation increases quicker than wages.
IHS Markit said only 27 percent of the households it surveyed expects rates to increase in the next six months, the weakest rate since October. The latest survey also revealed the willingness of households to make large purchases, which has dropped to its weakest since December 2013.
British consumer price inflation hit its highest in almost four years at nearly three percent in May, before softening in June. However, annual wage growth is less than two percent.
Official data set to be released on Wednesday is seen to show that economic growth accelerated only slightly in the three months to the end of June.
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Australia's Consumer Confidence Strengthens
Australia's consumer confidence improved during the week ended July 23, after falling in the previous two weeks, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.
The consumer confidence index climbed to 115.1 from 112.5 in the preceding week. Moreover, this was the highest score since February.
The increase in confidence was driven primarily by an improvement in consumers' views towards both current and future economic conditions.
The index measuring 'time to buy a major household item' rose 1.8 percent last week. Inflation expectations were unchanged at 4.3 percent on a four-week moving average basis.
"The solid increase in confidence last week is very encouraging and likely reflects another good jobs report along with the RBA's broadly positive assessment of domestic conditions in the minutes of the July board meeting," ANZ's head of Australian Economics, David Plank, commented.
"We expect labour market conditions to continue improving, although at a slower pace, now that the period of catch up between official and survey based measures is largely complete."
"We will be closely watching Governor Lowe's speech and the CPI release out later this week for further insight into the RBA's assessment of the labour market and the course for monetary policy."
Australia's consumer confidence improved during the week ended July 23, after falling in the previous two weeks, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.
The consumer confidence index climbed to 115.1 from 112.5 in the preceding week. Moreover, this was the highest score since February.
The increase in confidence was driven primarily by an improvement in consumers' views towards both current and future economic conditions.
The index measuring 'time to buy a major household item' rose 1.8 percent last week. Inflation expectations were unchanged at 4.3 percent on a four-week moving average basis.
"The solid increase in confidence last week is very encouraging and likely reflects another good jobs report along with the RBA's broadly positive assessment of domestic conditions in the minutes of the July board meeting," ANZ's head of Australian Economics, David Plank, commented.
"We expect labour market conditions to continue improving, although at a slower pace, now that the period of catch up between official and survey based measures is largely complete."
"We will be closely watching Governor Lowe's speech and the CPI release out later this week for further insight into the RBA's assessment of the labour market and the course for monetary policy."
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Japan Producer Prices +0.8% In June
Producer prices in Japan were up 0.8 percent on year in June, the Bank of Japan said on Wednesday - unchanged and in line with expectations.
On a monthly basis, producer prices fell 0.1 percent following the flat reading in May.
Individually, prices were up for transportation and advertising; they were down for leasing and rental.
For the second quarter of 2017, producer prices were up 0.8 percent on year and 0.4 percent on quarter.
Producer prices in Japan were up 0.8 percent on year in June, the Bank of Japan said on Wednesday - unchanged and in line with expectations.
On a monthly basis, producer prices fell 0.1 percent following the flat reading in May.
Individually, prices were up for transportation and advertising; they were down for leasing and rental.
For the second quarter of 2017, producer prices were up 0.8 percent on year and 0.4 percent on quarter.
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BRAZIL: Steelmakers Estimate Higher Output And Lower Sales In 2017
The Brazilian Steel Institute (IABr), which represents steelmakers that operate in the country, kept unchanged its forecast for the local steel output in 2017 at 32.420 million tons, a 3.8% increase compared to last year. However, the estimate for domestic steel sales was revised down to 16.310 million tons, a 1.3% decrease. Previously, IABR expected a 1.3% increase.
Steel exports, meanwhile, are projected to rise 9.1% in 2017, to 14.659 million tons, compared with a previous forecast of a 6.4% increase. Exports revenue should grow by 32.6%, to US$ 7.420 billion.
Steel imports are expected to rise 18.8%, to 2,232 million tons, more than the 6.6% increase anticipated by the IABr in April. Imports revenue should grow by 11.8%, to US$ 1.951 billion. Steel consumption - which includes domestic sales plus imports by distributors and consumers - is expected to rise 1.1%, to 18.418 million tons. The previous projection was a 2.9% increase.
According to the IABr chairman, Marco Polo de Mello Lopes, the steel sector is still at a delicate moment, with little internal consumption.
"The market has not recovered yet and will not resume during 2017," he told a news conference.
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The Brazilian Steel Institute (IABr), which represents steelmakers that operate in the country, kept unchanged its forecast for the local steel output in 2017 at 32.420 million tons, a 3.8% increase compared to last year. However, the estimate for domestic steel sales was revised down to 16.310 million tons, a 1.3% decrease. Previously, IABR expected a 1.3% increase.
Steel exports, meanwhile, are projected to rise 9.1% in 2017, to 14.659 million tons, compared with a previous forecast of a 6.4% increase. Exports revenue should grow by 32.6%, to US$ 7.420 billion.
Steel imports are expected to rise 18.8%, to 2,232 million tons, more than the 6.6% increase anticipated by the IABr in April. Imports revenue should grow by 11.8%, to US$ 1.951 billion. Steel consumption - which includes domestic sales plus imports by distributors and consumers - is expected to rise 1.1%, to 18.418 million tons. The previous projection was a 2.9% increase.
According to the IABr chairman, Marco Polo de Mello Lopes, the steel sector is still at a delicate moment, with little internal consumption.
"The market has not recovered yet and will not resume during 2017," he told a news conference.
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Dollar Wavered Near 13-Month Lows After Fed Statement
The dollar nursed losses at 13-month lows versus a basket of currencies early on Thursday after the Federal Reserve's policy statement, which was perceived to be slightly dovish.
The dollar's index against a basket of six major currencies dropped to 93.44, having lost ten percent from its 14-year peak of 103.82 reached on Jan 3.
The next support levels are seen at 93.019, a June 2016 low, and 91.919, a 16-month low notched in May 2016, although a breach of these would be seen as major bearish signals.
The Fed's perceived interest rate advantage is wearing away as many other central banks have began to look to winding back their stimulus in recent months.
Fed funds rate futures are implying slightly less than a 50 percent likelihood of a rate hike by December, compared to a little over 50 percent prior to the meeting.
The dollar fell to 111.111 yen, inching near 110.625, its 5 ½ week low notched on Monday.
Investors have turned to the euro ever since European Central Bank President Mario Draghi signalled that the central bank might adjust its asset purchase.
The euro climbed to as high as $1.1750 in early Thursday trade, touching its highest level since January 2015.
The British pound stood at $1.3119, near its recent high of $1.3126.
The Australian dollar regained its $0.80 mark for the first time since 2015 and last stood at $0.8001.
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The dollar nursed losses at 13-month lows versus a basket of currencies early on Thursday after the Federal Reserve's policy statement, which was perceived to be slightly dovish.
The dollar's index against a basket of six major currencies dropped to 93.44, having lost ten percent from its 14-year peak of 103.82 reached on Jan 3.
The next support levels are seen at 93.019, a June 2016 low, and 91.919, a 16-month low notched in May 2016, although a breach of these would be seen as major bearish signals.
The Fed's perceived interest rate advantage is wearing away as many other central banks have began to look to winding back their stimulus in recent months.
Fed funds rate futures are implying slightly less than a 50 percent likelihood of a rate hike by December, compared to a little over 50 percent prior to the meeting.
The dollar fell to 111.111 yen, inching near 110.625, its 5 ½ week low notched on Monday.
Investors have turned to the euro ever since European Central Bank President Mario Draghi signalled that the central bank might adjust its asset purchase.
The euro climbed to as high as $1.1750 in early Thursday trade, touching its highest level since January 2015.
The British pound stood at $1.3119, near its recent high of $1.3126.
The Australian dollar regained its $0.80 mark for the first time since 2015 and last stood at $0.8001.
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PEMEX: Net Income Increases To US$ 1.8 Billion In Q2
Mexico's state-owned Petroleos Mexicanos (Pemex) reported a net profit of 32.8 billion Mexican pesos (US$ 1.8 billion) in the second quarter of 2017, compared to losses in the same period last year. It was the third consecutive quarter of positive financial results for the company.
In a statement, Pemex said that the result reflects policies implemented by the current administration to improve efficiency and profitability.
"For this, it has been a key to take advantage of the tools granted by the Energy Reform," the company said.
Crude oil production averaged 2,013 thousand barrels per day (Mbd) during the quarter. Compared to the same quarter of 2016 there was a 7.5% decrease.
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Mexico's state-owned Petroleos Mexicanos (Pemex) reported a net profit of 32.8 billion Mexican pesos (US$ 1.8 billion) in the second quarter of 2017, compared to losses in the same period last year. It was the third consecutive quarter of positive financial results for the company.
In a statement, Pemex said that the result reflects policies implemented by the current administration to improve efficiency and profitability.
"For this, it has been a key to take advantage of the tools granted by the Energy Reform," the company said.
Crude oil production averaged 2,013 thousand barrels per day (Mbd) during the quarter. Compared to the same quarter of 2016 there was a 7.5% decrease.
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European Stocks Drop as AstraZeneca Weighs on Indexes
The largest one-day decline in AstraZeneca shares after a drug study failure weighed on stock trading in Europe on Thursday. It offset a handful of well-received earnings results and sent indexes lower.
The pan-European Stoxx Europe 600 Index closed below the flatline, with most sectors in the red.
Food and beverages stocks were the best performers, higher by 1.3 percent, as investors priced in solid earnings news.
Regional healthcare stocks dropped 1.2 percent to their lowest in over four months.
British pharmaceutical AstraZeneca said a combination of two of its new oncology drugs has failed to shrink lung cancer tumors in a clinical trial. Investors currently have doubts whether the firm will be able to achieve its ambitious growth plans. Shares of the firm plunged 15 percent to its lowest level in almost five months.
Strong results from large companies, which includes Swiss drugmaker Roche, beer maker AB InBev and Diageo were not enough to pull broad index higher.
Deutsche Bank led banking stocks lower, tumbling 6.5 percent in its weakest day in five months after the lender trimmed its 2017 revenue forecast as a result of a difficult second quarter.
Heavyweight BASF and Bayer fell following weaker than expected earnings, as well as a profit forecast trim for both.The chemicals sector was the worst-performing across Europe.
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The largest one-day decline in AstraZeneca shares after a drug study failure weighed on stock trading in Europe on Thursday. It offset a handful of well-received earnings results and sent indexes lower.
The pan-European Stoxx Europe 600 Index closed below the flatline, with most sectors in the red.
Food and beverages stocks were the best performers, higher by 1.3 percent, as investors priced in solid earnings news.
Regional healthcare stocks dropped 1.2 percent to their lowest in over four months.
British pharmaceutical AstraZeneca said a combination of two of its new oncology drugs has failed to shrink lung cancer tumors in a clinical trial. Investors currently have doubts whether the firm will be able to achieve its ambitious growth plans. Shares of the firm plunged 15 percent to its lowest level in almost five months.
Strong results from large companies, which includes Swiss drugmaker Roche, beer maker AB InBev and Diageo were not enough to pull broad index higher.
Deutsche Bank led banking stocks lower, tumbling 6.5 percent in its weakest day in five months after the lender trimmed its 2017 revenue forecast as a result of a difficult second quarter.
Heavyweight BASF and Bayer fell following weaker than expected earnings, as well as a profit forecast trim for both.The chemicals sector was the worst-performing across Europe.
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Japan Industrial Production Exits Contraction
Japan's industrial output recovered in June, pulling away from contraction and marking the third time this year the key measure of production regained its footing from a decline in the prior month.
On a monthly basis, industrial production increased 1.6 percent in June, according to an initial reading from the Ministry of Economy, Trade and Industry. The month-on-month numbers was slightly short of the expected 1.7 percent increase, but a significant recovery from May's contraction of 3.6 percent.
The transport sector's output climbed 4.2 percent in June, recovering from a 13 percent slid in the preceding month. Output of chemicals also jumped 3.4 percent during the period, compared to the 2.2 percent decline in May.
Manufacturers see a steady increase in output in the following months, indicating that solid demand abroad and increase in consumer spending could buttress overall growth of the Japanese economy. Manufacturers expect output to increase 0.8 percent in July and 3.6 percent in the succeeding month.
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Japan's industrial output recovered in June, pulling away from contraction and marking the third time this year the key measure of production regained its footing from a decline in the prior month.
On a monthly basis, industrial production increased 1.6 percent in June, according to an initial reading from the Ministry of Economy, Trade and Industry. The month-on-month numbers was slightly short of the expected 1.7 percent increase, but a significant recovery from May's contraction of 3.6 percent.
The transport sector's output climbed 4.2 percent in June, recovering from a 13 percent slid in the preceding month. Output of chemicals also jumped 3.4 percent during the period, compared to the 2.2 percent decline in May.
Manufacturers see a steady increase in output in the following months, indicating that solid demand abroad and increase in consumer spending could buttress overall growth of the Japanese economy. Manufacturers expect output to increase 0.8 percent in July and 3.6 percent in the succeeding month.
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European Economics Preview: Eurozone Flash Inflation Data Due
Inflation and unemployment from euro area and retail sales from Germany are due on Monday, headlining a busy day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales data. Economists forecast retail sales to grow 0.2 percent on month in June, slower than the 0.5 percent increase seen in May.
At 3.00 am ET, producer prices from Hungary and foreign trade data from Turkey are due. The trade deficit is seen narrowing to $6 billion from $7.31 billion in May.
At 3.55 am ET, the Federal Labor Agency is set to release Germany's unemployment data. The jobless rate is forecast to remain unchanged at 5.7 percent in July.
At 4.00 am ET, Italy's unemployment data is due for June. The jobless rate stood at 11.3 percent in May.
At 4.30 am ET, the Bank of England is slated to issue UK mortgage approvals for June. The number of mortgages approved in June is forecast to fall to 65,000 from 65,200 in May.
At 5.00 am ET, Eurostat releases euro area inflation and unemployment figures. The flash inflation is seen at 1.2 percent in July, following 1.3 percent in June. The jobless rate is forecast to fall to 9.2 percent in June from 9.3 percent in May.
Inflation and unemployment from euro area and retail sales from Germany are due on Monday, headlining a busy day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales data. Economists forecast retail sales to grow 0.2 percent on month in June, slower than the 0.5 percent increase seen in May.
At 3.00 am ET, producer prices from Hungary and foreign trade data from Turkey are due. The trade deficit is seen narrowing to $6 billion from $7.31 billion in May.
At 3.55 am ET, the Federal Labor Agency is set to release Germany's unemployment data. The jobless rate is forecast to remain unchanged at 5.7 percent in July.
At 4.00 am ET, Italy's unemployment data is due for June. The jobless rate stood at 11.3 percent in May.
At 4.30 am ET, the Bank of England is slated to issue UK mortgage approvals for June. The number of mortgages approved in June is forecast to fall to 65,000 from 65,200 in May.
At 5.00 am ET, Eurostat releases euro area inflation and unemployment figures. The flash inflation is seen at 1.2 percent in July, following 1.3 percent in June. The jobless rate is forecast to fall to 9.2 percent in June from 9.3 percent in May.
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VENEZUELA: U.S. Treasury Freezes Maduro's Assets After Constituent Election
The U.S. Department of the Treasury sanctioned the president of Venezuela, Nicol?s Maduro, for "undermining democracy" in the Latin American country.
The sanctions come a day after the Maduro government held elections for a National Constituent Assembly that aspires to rewrite the Venezuelan constitution despite a massive boycott to the polls by the opposition.
The election day was also marred by violence, with 16 people killed, according to the Venezuelan Observatory of Social Conflict (OVCS), which also said that only in two Venezuelan states there were no violent acts or anti-government protests.
"The Maduro administration has proceeded with the ANC even though Venezuelans and democratic governments worldwide have overwhelmingly opposed it as a fundamental assault on the freedoms of the Venezuelan people. The creation of the ANC follows years of Maduro's efforts to undermine Venezuela's democracy and the rule of law," said the U.S. Treasury department in a statement.
"As a result of today's actions, all assets of Nicol?s Maduro subject to U.S. jurisdiction are frozen, and U.S. persons are prohibited from dealing with him," the statement added, without specifying which assets could be targeted by the sanctions.
The Constituent Assembly election held yesterday in Venezuela chose 545 representatives to rewrite the country's constitution, which was last modified during former president Hugo Ch?vez administration.
More than eight million Venezuelans took part in Sunday's National Constituent Assembly (ANC) vote, convened by the Nicol?s Maduro's government. Voters' participation reached around 41% of more than 19 million Venezuelans able to vote, said the president of the National Electoral Council (CNE), Tibisay Lucena.
The Venezuelan opposition said that it would march today against the violence reported during the demonstrations. Freddy Guevara, the first vice-president of the National Assembly (controlled by the opposition), urged citizens to protest today and attend a rally in Caracas.
More than ten countries of the region, among them Argentina, Colombia, and Peru, said that would not recognize the electoral results. The United States and the European Union called the vote "illegal."
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The U.S. Department of the Treasury sanctioned the president of Venezuela, Nicol?s Maduro, for "undermining democracy" in the Latin American country.
The sanctions come a day after the Maduro government held elections for a National Constituent Assembly that aspires to rewrite the Venezuelan constitution despite a massive boycott to the polls by the opposition.
The election day was also marred by violence, with 16 people killed, according to the Venezuelan Observatory of Social Conflict (OVCS), which also said that only in two Venezuelan states there were no violent acts or anti-government protests.
"The Maduro administration has proceeded with the ANC even though Venezuelans and democratic governments worldwide have overwhelmingly opposed it as a fundamental assault on the freedoms of the Venezuelan people. The creation of the ANC follows years of Maduro's efforts to undermine Venezuela's democracy and the rule of law," said the U.S. Treasury department in a statement.
"As a result of today's actions, all assets of Nicol?s Maduro subject to U.S. jurisdiction are frozen, and U.S. persons are prohibited from dealing with him," the statement added, without specifying which assets could be targeted by the sanctions.
The Constituent Assembly election held yesterday in Venezuela chose 545 representatives to rewrite the country's constitution, which was last modified during former president Hugo Ch?vez administration.
More than eight million Venezuelans took part in Sunday's National Constituent Assembly (ANC) vote, convened by the Nicol?s Maduro's government. Voters' participation reached around 41% of more than 19 million Venezuelans able to vote, said the president of the National Electoral Council (CNE), Tibisay Lucena.
The Venezuelan opposition said that it would march today against the violence reported during the demonstrations. Freddy Guevara, the first vice-president of the National Assembly (controlled by the opposition), urged citizens to protest today and attend a rally in Caracas.
More than ten countries of the region, among them Argentina, Colombia, and Peru, said that would not recognize the electoral results. The United States and the European Union called the vote "illegal."
News are provided byInstaForex.
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European Stocks Ends July Lower, Weighed Down by Earnings Sentiments
European shares closed lower on the final trading day of July, as declines among tobacco stocks and some broker downgrades added pressure on shares. Analysts priced in what appears to be an “underwhelming” earnings season.
The STOXX Europe 600 Index fell 0.1 percent as eurozone stocks and blue chips dropped 0.3 to 0.4 percent. The U.K.'s FTSE 100 index held on to 0.1 percent gains. France's CAC 40 fell to its lowest in three months.
Financials weighed down main European indexes. HSBC rose 1.9 percent, as it reported a forecast-exceeding five percent increase in its first half pretax profit and announced a third buyback in a year.
Consumer goods added the most pressure on the benchmark, falling 1.1 percent as cigarette makers extended losses on a regulatory crackdown in the United States.
British tobacco companies Imperial Brands and British American Tobacco continued to decline from the session earlier, tumbling 5.8 percent and 4.7 percent respectively.
Mining companies gained as copper prices increased on the back of China's manufacturing data.
Nearly 46 percent of MSCI Europe companies have posted results, 59 percent of which have either met or exceeded analysts' expectations, according to data from Thomson Reuters. The figure is marginally lower for eurozone firms. Only more than half of them have met or exceeded expectations.
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European shares closed lower on the final trading day of July, as declines among tobacco stocks and some broker downgrades added pressure on shares. Analysts priced in what appears to be an “underwhelming” earnings season.
The STOXX Europe 600 Index fell 0.1 percent as eurozone stocks and blue chips dropped 0.3 to 0.4 percent. The U.K.'s FTSE 100 index held on to 0.1 percent gains. France's CAC 40 fell to its lowest in three months.
Financials weighed down main European indexes. HSBC rose 1.9 percent, as it reported a forecast-exceeding five percent increase in its first half pretax profit and announced a third buyback in a year.
Consumer goods added the most pressure on the benchmark, falling 1.1 percent as cigarette makers extended losses on a regulatory crackdown in the United States.
British tobacco companies Imperial Brands and British American Tobacco continued to decline from the session earlier, tumbling 5.8 percent and 4.7 percent respectively.
Mining companies gained as copper prices increased on the back of China's manufacturing data.
Nearly 46 percent of MSCI Europe companies have posted results, 59 percent of which have either met or exceeded analysts' expectations, according to data from Thomson Reuters. The figure is marginally lower for eurozone firms. Only more than half of them have met or exceeded expectations.
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Japan Monetary Base Climbed 15.6% In July
The monetary base in Japan was up 15.6 percent on year in July, the Bank of Japan said on Wednesday - coming in at 465.069 trillion yen.
That followed the 17.0 percent spike in June.
Banknotes in circulation were unchanged at 4.6 percent on year, while coins in circulation were steady at 1.2 percent.
Current account balances surged 19.3 percent on year, including a 17.6 percent spike in reserve balances.
The adjusted monetary base was up 4.2 percent on year to 454.544 trillion yen.
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The monetary base in Japan was up 15.6 percent on year in July, the Bank of Japan said on Wednesday - coming in at 465.069 trillion yen.
That followed the 17.0 percent spike in June.
Banknotes in circulation were unchanged at 4.6 percent on year, while coins in circulation were steady at 1.2 percent.
Current account balances surged 19.3 percent on year, including a 17.6 percent spike in reserve balances.
The adjusted monetary base was up 4.2 percent on year to 454.544 trillion yen.
News are provided byInstaForex.
InstaForex Gertrude
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Singapore PMI Moves Up To 51.3 In July - Nikkei
The private sector in Singapore continued to strengthen in July, the latest survey from Nikkei showed on Thursday with a PMI score of 51.3.
That's up from 50.7 in June, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, there were stronger rises in both output and total new orders.
Export sales increased at a record high, although lower employment persisted.
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The private sector in Singapore continued to strengthen in July, the latest survey from Nikkei showed on Thursday with a PMI score of 51.3.
That's up from 50.7 in June, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, there were stronger rises in both output and total new orders.
Export sales increased at a record high, although lower employment persisted.
News are provided byInstaForex.
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Wall Street Gains as Dow Breached 22,000 Mark
The Dow Jones industrial average breached the 22,000 mark for the first time ever on Wednesday, lifted by a rally in Apple's shares.
The 30-stock index rose 0.22 percent at 22,011.55. The S&P 500 climbed 0.07 percent at 2,478.18 while the Nasdaq Composite advanced 0.46 percent at 6,391.96.
Apple surged 6.02 percent to a record peak, after the world's biggest publicly listed company posted strong results and iPhone sales. The company also indicated that its upcoming 10th-anniversary phone is on schedule. The stock has gained nearly 30 percent in 2017.
The S&P 500 information technology index is 22 percent higher for the year to date, leading other sectors. It was the only S&P advancer with a one percent gain.
Ten of the 11 major S&P 500 sectors were lower. The energy index fell 0.81 percent and led decliners.
Two-thirds of S&P 500 firms have posted their second-quarter earnings so far and 72 percent have exceeded Wall Street's expectations, according to Thomson Reuters.
News are provided byInstaForex.
The Dow Jones industrial average breached the 22,000 mark for the first time ever on Wednesday, lifted by a rally in Apple's shares.
The 30-stock index rose 0.22 percent at 22,011.55. The S&P 500 climbed 0.07 percent at 2,478.18 while the Nasdaq Composite advanced 0.46 percent at 6,391.96.
Apple surged 6.02 percent to a record peak, after the world's biggest publicly listed company posted strong results and iPhone sales. The company also indicated that its upcoming 10th-anniversary phone is on schedule. The stock has gained nearly 30 percent in 2017.
The S&P 500 information technology index is 22 percent higher for the year to date, leading other sectors. It was the only S&P advancer with a one percent gain.
Ten of the 11 major S&P 500 sectors were lower. The energy index fell 0.81 percent and led decliners.
Two-thirds of S&P 500 firms have posted their second-quarter earnings so far and 72 percent have exceeded Wall Street's expectations, according to Thomson Reuters.
News are provided byInstaForex.
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Australia Retail Sales Rise 0.3% On Month In June
Retail sales in Australia were up a seasonally adjusted 0.3 percent on month in June, the Australian Bureau of Statistics said on Friday - coming in at A$26.150 billion.
That beat expectations for an increase of 0.2 percent following the 0.6 percent gain in May.
For the second quarter of 2017, retail sales climbed 1.5 percent on quarter to A$76.203 billion.
That also exceeded expectations for a gain of 1.2 percent following the upwardly revised 0.2 percent increase in the three month prior (originally 0.1 percent).
News are provided byInstaForex.
Retail sales in Australia were up a seasonally adjusted 0.3 percent on month in June, the Australian Bureau of Statistics said on Friday - coming in at A$26.150 billion.
That beat expectations for an increase of 0.2 percent following the 0.6 percent gain in May.
For the second quarter of 2017, retail sales climbed 1.5 percent on quarter to A$76.203 billion.
That also exceeded expectations for a gain of 1.2 percent following the upwardly revised 0.2 percent increase in the three month prior (originally 0.1 percent).
News are provided byInstaForex.