USA

 US Weekly Claims Tick Higher; Four Week Average Hits 4-Month Low. The number of Americans filing new claims for unemployment benefits rose less than expected last week, pointing to some underlying strength in the labor market. Initial claims for state unemployment benefits increased 5,000 to a seasonally adjusted 320,000, the Labor Department said on Thursday. Claims for the week ended March 8 were unrevised. Economists polled by Reuters had forecast first-time applications for jobless benefits rising to 325,000 in the week ended March 15. (Reuters)

 Leading Index Rises More Than Forecast Signaling U.S. Pickup. The index of U.S. leading indicators rose more than forecast in February, a sign the world’s largest economy will strengthen after a weather-induced slowdown in the first quarter. The Conference Board’s gauge of the outlook for the next three to six months climbed 0.5 %, the biggest gain since November, after a revised 0.1 % gain the prior month, the New York-based group said today. The median forecast of 49 economists surveyed by Bloomberg called for a 0.2 % gain. (Bloomberg)

 Fewest Americans In Four Months See U.S. Economy Improving. Americans were most pessimistic on the outlook for the economy in March than at any time in four months, a sign the effects of harsh winter weather are still rippling through the U.S. The %age of negative responses about the future exceeded positive views by 12 points this month, the most since November, data from the Bloomberg Consumer Comfort Index showed today. The weekly measure declined to minus 29 from minus 27.6 the prior period, the first drop in six weeks. (Bloomberg)

 Sales Of Existing Homes In U.S. Fall To Lowest Since 2012. Purchases of previously owned homes in the U.S. declined in February to the lowest level since July 2012, a sign the industry may be slow to recover. Contract closings on existing properties fell 0.4 % to a 4.6 million annual rate, matching the median projection in a Bloomberg survey, figures from the National Association of Realtors showed today in Washington. Prices rose 9.1 % from a year earlier, the group said. (Bloomberg)

Europe

 Spain Reaps Investment Boon As Rajoy Reforms Lure FDI. Prime Minister Mariano Rajoy’s progress in luring investors back to Spain is spreading well beyond the bond market. With the euro region’s fourth-biggest economy out of recession, exports at a record and government bond yields at less than half the level they reached in 2012, foreign direct investment is also surging. Data published today by the Economy Ministry showed capital from France, Mexico,Venezuela, Japan and Hong Kong last year boosted inflows which the Bank of Spain said have jumped by 40 % to almost 30 billion euros ($42 billion). (Bloomberg)

 S&P Downgrades Russian Outlook To 'Negative'. Standard &Poor's on Thursday revised the outlook for the Russian Federation to negative from stable on rising geopolitical and economic risks. The rating agency affirmed Russia's BBB foreign currency rating. "The outlook revision reflects our view of the material and unanticipated economic and financial consequences that EU and U.S. sanctions could have on Russia's creditworthiness following Russia's incorporation of Crimea, which the international community currently considers legally to be a part of Ukraine," S&P said in a statement. (Reuters)

Currencies

 Dollar Gives Up Some Yellen-Inspired Yen Gains. The U.S. dollar extended gains against the euro but edged down against the yen Thursday, as investors assessed the possibility that an increase in U.S. interest rates may be coming sooner than previously expected. The dollar inched down to ¥102.39 from ¥102.47 late Wednesday. The euro fell below 1.38, buying $1.3781 versus $1.3830 late Wednesday. The ICE dollar index, a measure of the currency’s strength, rose to 80.187 from 80.001. Meanwhile, the British pound stayed weaker, trading at $1.6506 versus $1.6536. The Australian dollar was at 90.44 U.S. cents versus 90.40 U.S. cents. (Market Watch)

Commodities

 Brent Climbs Above $106 As Fed Shows Confidence In U.S. Economy. Brent crude rose on Thursday to hover around $106 a barrel after the U.S. Federal Reserve signalled interest rates could rise next year, indicating strength in the world's largest economy and top oil consumer, while geopolitical tensions also underpinned prices. Brent was up 19 cents at $106.04 per barrel by 0747 GMT, after settling 94 cents lower. U.S. crude traded 28 cents higher at $100.65 per barrel. (Reuters)

 Gold Flat On Fed Plans, Easing Ukraine Tensions. Gold prices were little changed on Thursday, helped by bargain hunting after the metal's sharp drop the previous day on comments from Federal Reserve Chair Janet Yellen that suggested U.S. interest rates could rise sooner than expected. Spot gold extended losses to $1,320.24 an ounce on Thursday, its lowest since Feb. 28. Among other precious metals, silver fell 1.2 % to $20.31 an ounce. Platinum was down 0.8 % at $1,427.75 an ounce. Palladium was up 0.6 % at $766.25 an ounce. (Reuters)