New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.
The euro hit a two-month high against the dollar on Thursday amid a broad increase in risk appetite after strong Australian data and a larger-than-expected drop in U.S. weekly initial jobless claims.
SUN VALLEY News Corp digital chief Jonathan Miller said on Wednesday his company is not in talks to sell its once popular social networking site MySpace and described reports of any discussions as fabrications.
Stocks rose on Thursday after several top U.S. retail chains reported better-than-expected sales in June and new claims for jobless benefits fell more than forecast.
The European Central Bank held its main interest rate at a record low of 1.0 percent for the fourteenth month running on Thursday, as expected by economists.
The Bank of England's Monetary Policy Committee kept interest rates at a record low 0.5 percent on Thursday, in an almost universally expected decision that likely reflects policymakers' concerns about the growth outlook.
The European Central Bank kept its main interest rate on hold at a record low of 1.0 percent for the fourteenth month running on Thursday, as expected by economists.
Gold buying has intensified on the late-June/early July sell offs and capitalising on this fall were the Asian investors, jewelry manufacturers and possibly a few central banks, according to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital.
Stocks opened higher on Thursday after several top U.S. retail chains reported better-than-expected sales in June, and new claims for jobless benefits fell more than forecast.
World stocks rose on Thursday while the euro hit a two-month peak against the low-yielding dollar on rising expectations the forthcoming earnings season would show strong corporate performance.
Stocks were set for a higher open on Thursday after several top U.S. retail chains reported better-than-expected sales in June, and new claims for jobless benefits fell more than forecast.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
Jewellery exports and quality of India's gold is set to get a boost with the decision to join the Convention on Control and Marking of Articles of Precious Metals known as Vienna Convention 1972.
Oil rose to around $75 per barrel on Thursday, supported by a rally in stock markets and an industry report showing a sharp fall in crude oil inventories in the United States, the world's biggest oil consumer.
European shares gained ground on Thursday with investors scooping up battered banking stock as details of the sector's stress tests started to emerge, adding to a tentative recovery from a sharp two-week sell-off.
The European Central Bank will face pressure on Thursday to say if it is worried by rising bank-to-bank lending rates, whether it will extend liquidity support and how it sees Europe's bank stress tests panning out.
Gold held above $1,200 an ounce on Thursday, having recovered from six-week lows after consumers were enticed back into the market, although gains were likely to be tempered by improving optimism over the global economy.
Interbank euro funding costs rose on Thursday and could shift if European Central Bank chief Jean-Claude Trichet surprises with plans for more liquidity provision or news on bank stress tests.
Trichet was due to begin a news conference at 1230 GMT after the bank held interest rates at 1 percent, as expected.
Gold demand in India is all set to soar in the coming months as the International Monetary Fund has predicted a very high 9.5 per cent growth for the country in 2010.
U.S. stock index futures were little changed on Thursday after posting their biggest one-day gains in about six weeks and as investors readied for data on jobless claims and retail sales for clues about the direction of the economy.
In an effort to reassure financial markets about the health of the European Union's banking system, the bloc's countries will stress-test a large number of their banks and publish the results.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
China bought a net $8.4 billion of Japanese bonds, mostly short-term notes, in May, when the euro slid on heightened concerns over the euro zone's debt crisis, Japanese Finance Ministry data showed on Thursday.
The European Central Bank will face pressure on Thursday to say whether Europe-wide stress tests on banks will be tough enough to convince markets of their worth but is likely to offer little beyond soothing words.
Those who are skeptical about buying gold considering its high prices may have to wait forever as the yellow metal is set to cross the $1,300 per ounce mark in the second half of 2010.
Consumers, especially in India, have been waiting for gold prices to come down to make purchases. But, according to market analysts, gold prices are set to cross the $1,300 level in the coming months.
European shares rose on Thursday morning, with the banking sector higher ahead of the European Central Bank's interest rate decision and its news conference likely to focus on bank stress tests.
Banking stocks featured among the top performers on expectations the tests will not be as stringent as feared. Lloyds Banking Group (LLOY.L), BNP Paribas (BNPP.PA) and Barclays (BARC.L) rose 2.4-3.3 percent.
The euro hit a two-month high against the dollar on Thursday after strong Australian jobs data boosted higher-risk currencies, while investors awaited comments from the European Central Bank on bank stress tests.
World stocks rose on Thursday while the euro hit a two-month peak against the low-yielding dollar on rising expectations the forthcoming earnings season would show strong corporate performance.
China bought a record $7.9 billion in short-term Japanese debt in May, a surge widely viewed as temporary while sovereign debt concerns buffet the euro, rather than a shift in China's long-term investment stance.
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday on the back of robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.
