PragueConnect.cz - Economy
PragueConnect.cz is providing resources for English speaking Business Professionals living in, visiting, or interested in Prague and Czech Republic. Browse our latest Economy articles, if you have interesting content to share with our users, please feel free to contact us anytime to discuss with us possible publication on PragueConnect.cz!
Mithril Asset management - Weekly Bulletin presented by Square Mile Financial Services
Weekly Finance Bulletin 4th of February 2013
Markets overall maintained current levels of strength. Asia ended the week almost entirely in the green; the only major index to retract was India’s Sensex.
The regions other juggernauts, China and Japan, marched further higher each adding over 5%. China wobbled later in the week as official PMI came in at only 50.6 compared to HSBC’s more optimistic reading of 52.3. A level above 50 suggests growth, and both readings confirmed that, soothing investors.
Tokyo’s advance came as the US dollar climbed to levels not seen since June 2010 to over ¥92. This came in amongst news that Japan’s unemployment rate rose to 4.2% and consumer spending was disappointing in December 2012.
Europe had a choppy week, disappointed by US GDP (which unexpectedly contracted in Q4 2012). However decent consumer spending numbers as well as home building offered support to current market levels.
The euro continued to advance during the week, with the single currency topping the $1.35 level for the first time since December 2011 and hitting its highest level versus the Japanese yen since April 2010.
Stateside the major indices rose once again, with the DOW and S&P500 nestling above key levels at 14,010 and 1,513 respectively. The market marched on after the release of Labour Department figures that showed payrolls had risen 157,000 in January after a revised 196,000 gain in December and a 247,000 influx in November.
Full report please download here