Large Industrialized Countries

(Reuters) - The euro extended its rebound from last week's four-month low on Monday but investors remained concerned over financial turmoil in Greece and Spain, drawing little comfort from a broad G8 pledge to take steps to fight the euro zone's debt crisis. The common currency rose on short-covering after speculators piled up a record amount of bets against it, according to data from a U.S. financial watchdog released late last week. "We are entering a consolidation phase with regard to the euro. It will not be known for a while whether Greece will stay in the euro or not with a Greek election a few weeks away," said Minori Uchida, chief analyst at the Bank of Tokyo-Mitsubishi UFJ. "The market may show some minor reaction to Greek opinion polls... but it is hard to sell the euro in ...

(Reuters) - Brent crude dropped below $124 a barrel on Thursday, after weak Chinese manufacturing data sparked concerns that energy demand growth could slow in the world's second-largest oil consumer. China's factory activity shrank in March for a fifth successive month, with the overall rate of contraction accelerating and new orders sinking to a four-month low, the HSBC flash purchasing managers index (PMI) showed on Thursday. "It's a surprising reading, and is contrary to improving monetary conditions and stabilizing external conditions," said Natalie Robertson, a commodities strategist with ANZ Bank in Melbourne. "It reflects Chinese demand on the ground, which has a significant impact on commodity markets." Brent crude shed 58 cents to $123.62 a barrel by 0654 GMT, after settling 8 ...

“America is back,” said the President of all the Americans, “Anyone who tells you America is in decline or that our influence has waned, doesn’t know what they’re talking about.” Well, Dear Reader, we’re here to tell you: America is in decline. We can give it to you straight because we’re not running for public office. And if we were elected, we would immediately demand a recount. Anyone who tells you America is not in decline is either running for office…or not paying attention. In 1969, more than one out of every three dollars of income in the entire globe was earned in the US. That’s what the IMF’s World Economic Outlook tells us. By 2000, that number had fallen…but not by much. The US still took home 31% of global income. But in the last 10 years, the US share has fallen hard — ...

(Reuters) - Asian stock markets struggled on Wednesday as weaker U.S. data damped down recent optimism that the world's largest economy may escape the gloom from the euro zone debt crisis, while Chinese manufacturing surveys failed to break the cautious mood. Financial spreadbetters expected Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC-40 .FCHI to open up around 0.4-0.6 percent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent in a volatile session in which the indexed yo-yoed between positive and negative territory. Japan's Nikkei average .N225 bucked the regional trend to close up 0.1 percent, as fund managers took the view that Japanese stocks remain undervalued. Data from China failed to give markets a decisive lead. Shares ...

(Reuters) - Asian stocks rose on Wednesday as investor risk appetite returned after upbeat U.S. and European economic data improved the global growth outlook, but the euro's gains were short-lived due to deep-set worries over the European debt crisis. MSCI's broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS rose as much as 0.9 percent to its highest in nearly a month, before trimming some gains to stand up 0.6 percent. The materials sector .MIAPJMT00PUS outperformed. The index fell 18 percent in 2011, sharply underperforming Wall Street's S&P 500 .SPX, which ended the year virtually unchanged, and an 11 percent drop in the FTSEurofirst 300 .FTEU3 index of top European shares. Japan's Nikkei stock average .N225 reached a three-week high and was up 1.4 percent, but Hong ...

The Dow Jones Industrial Average tumbled about 100 points yesterday — probably not because anyone really wanted to sell stocks, but because no one could think of any really good reason to buy them. This morning, the Dow is soaring more than 300 points — probably not because anyone really wants to buy stocks, but because no one can think of any really good reason to sell them again. In short, the financial markets are reflecting what our friend, John Mauldin, calls a “muddle through” economy. Notwithstanding this morning’s buoyant stock market action, the euro zone is still in crisis, the finances of most governments in the Western world are still in shambles… and Bank of America’s share price is still hovering around five dollars — just like it was in March of 2009, when then-Treasury ...

(Reuters) - Brent crude oil fell below $113 per barrel on Monday after euro zone data showed industrial output was contracting, suggesting a possible regional recession as Europe struggled to contain its widening debt crisis. Industrial production in the 17-country bloc fell 2.0 percent in September from August, the EU's statistics office said, overshadowing hopes new governments in Italy and Greece would prevent their economies from collapsing and avoid financial meltdown. Economists said the figures suggested the euro zone was heading for at least one quarter of economic contraction and could see a full-blown recession unless industrial output recovered quickly. Brent crude fell $1.50 to $112.66 per barrel by 1500 GMT. U.S. crude traded $1.20 lower at $97.79, after touching $99.69, ...

(Reuters) - Brent crude oil fell below $114 per barrel on Monday after data showed euro zone industrial output was contracting, suggesting a possible regional recession as Europe struggled to contain its widening debt crisis. Industrial production in the 17-country bloc fell 2.0 percent in September from August, the EU's statistics office said, overshadowing hopes new governments in Italy and Greece would prevent their economies from collapsing and avoid financial meltdown. Economists said the figures suggested the euro zone was heading for at least one quarter of economic contraction and could see a full-blown recession unless industrial output recovered quickly. Brent crude fell 55 cents at $113.61 per barrel by 1150 GMT. U.S. crude traded 60 cents lower at $98.39, after touching $99. ...

(Reuters) - Brent crude oil rose above $114 per barrel on Monday on hopes new governments in Italy and Greece would prevent their economies from collapsing and help avoid financial meltdown in the euro zone, offering the chance of renewed growth. Risk appetite improved across markets with rising stocks, commodities and tighter credit spreads. .EU Technocrat leaders in Rome and Athens raced to form new administrations on Monday in an attempt to retain the goodwill of financial markets after promising to reduce state debt and impose austerity measures. Investors will pass initial judgment on the new Italian government of former European Commissioner Mario Monti at treasury auctions this week. Brent crude rose 43 cents to $114.59 a barrel by 0903 GMT. U.S. crude traded 5 cents down at $98. ...