Economic News July 17, 2012
Japan's
Finance Minister Jun Azumi said Tuesday that speculative moves are
pushing up yen and the currency gains do not reflect the country's
economic fundamentals. (Jul 17, 2012) Full Article
The
Chinese economy is likely to achieve a "soft landing" despite a
considerable slowdown in economic growth, Fitch Ratings said in a report
late Monday. (Jul 17, 2012) Full Article
The
downtrend in European new car registrations continued in June, the
European Automobile Manufacturers' Association reported Tuesday. (Jul 17, 2012) Full Article
Policymakers
at the Swedish central bank has noted that the unease in Europe is
casting a shadow over the Swedish economy, the minutes from Riksbank's
July meeting showed Tuesday. (Jul 17, 2012) Full Article
With
a steep drop in energy prices offset by higher prices for food, medical
care, and apparel, the Labor Department released a report on Tuesday
showing that overall U.S. consumer prices were unchanged in the month of
June. (Jul 17, 2012) Full Article
Forex Top Story
Consumer
prices in New Zealand rose 0.3 percent in the second quarter of 2012
compared to the previous three months, Statistics New Zealand said on
Tuesday. (Jul 17, 2012) Full Article
The
members of the Reserve Bank of Australia's monetary policy board felt
that there was no need to change its key interest rate, minutes from the
bank's July 3 meeting revealed on Tuesday. (Jul 17, 2012) Full Article
Singapore's
export growth accelerated more than expected in June, driven by higher
global demand for its non-electronic products, particularly
pharmaceuticals. (Jul 17, 2012) Full Article
Reserve
Bank of India Governor Duvvuri Subbarao said Tuesday that the core
inflation, that excludes prices of food and energy, gives a better sense
of the future price trends as it is less volatile. (Jul 17, 2012) Full Article
U.K.'s
annual consumer price inflation eased for a third straight month in
June to the lowest level since November 2009, helped by falling fuel
prices and heavy discounting to boost sales, the latest figures from the
Office for National Statistics showed Tuesday. (Jul 17, 2012) Full Article
Spanish
borrowing costs declined on Tuesday in its first debt auction since the
government announced the latest round of austerity measures last week
in a bid to attain deficit targets amid a severe recession. The Spanish
Treasury sold a total EUR 3.56 billion of 12- and 18-month bills,
slightly exceeding the target of EUR 2.5 billion - EUR 3.5 billion set
for the sale. (Jul 17, 2012) Full Article
German
investor sentiment declined for the third month in a row to its lowest
level in six months, adding to signs that the euro area debt crisis is
hurting the outlook for the region's biggest economy. (Jul 17, 2012) Full Article
Commodities
The
price of gold was little changed Tuesday morning as the U.S. dollar was
mixed ahead of inflation report, due out later today. (Jul 17, 2012) Full Article
The
price of crude oil was ticking higher Tuesday morning amid speculation
that the Federal Reserve would hint on some monetary easing measures. (Jul 17, 2012) Full Article
Political News
U.S.
Deputy Defense Secretary Ashton Carter will visit Japan this week amid
widespread protest over Pentagon's plan to deploy the controversial
Osprey military aircraft in the U.S. Marine Futenma Air Station in
Japan's Okinawa island. (Jul 17, 2012) Full Article
North
Korea on Tuesday announced promotion of Army General Hyon Yong-chol to
the post of Vice Marshal, a day after the unexpected sacking of
incumbent Ri Yong-ho, a well-known confidant of the Communist nation's
young leader Kim Jong-un. (Jul 17, 2012) Full Article
China
has supported move for the extension of the U.N. Supervision Mission in
Syria (UNSMIS) in order to coordinate mediation efforts by U.N.-Arab
League envoy Kofi Annan and safeguard the direction of political
solution to the Syria crisis, its permanent representative to the world
body Li Baodong said on Monday. (Jul 17, 2012) Full Article
Analyst Currency Comments
Analysts
at Westpac noted on Tuesday that the forex market continued to hold
firm to its overnight risk appetite even after the U.S. retail sales
disappointed. At this juncture, Bernanke's upcoming testimony is clearly
the key focus, although the firm does not expect the Fed Chairman to
unveil a policy shift so soon after delivering an extension of Operation
Twist. (Jul 17, 2012) Full Article
Currency Alerts
The
Australian and New Zealand dollars climbed against their major
counterparts in early Asian trading on Tuesday as investors are focusing
on U.S. Federal Reserve Chairman Ben Bernanke's semi-annual testimony
for any hints of new stimulus to help the economy. (Jul 17, 2012) Full Article
The
U.S. dollar and the Japanese yen declined against their major
counterparts in the early Asian session on Tuesday as investors await
Federal Reserve Chairman Ben Bernanke's testimony before Congress later
in the day. (Jul 17, 2012) Full Article
In
early European deals on Tuesday, the pound fell to new multi-day lows
against the franc and the euro after a report showed that the U.K.
inflation annual inflation unexpectedly eased in June to reach the
lowest level since November 2009. (Jul 17, 2012) Full Article
The
euro took the upper hand against most major currencies on Tuesday
morning in Europe but caution ahead of Federal Reserve Chairman Ben
Bernanke's testimony capped its gains to some extent. (Jul 17, 2012) Full Article
General News
An
Indian fisherman was killed and three others were injured when a U.S.
Navy ship fired at their boat off Dubai in the United Arab Emirates
(UAE), reports quoting UAE officials said on Monday. (Jul 17, 2012) Full Article
Russian
Coast Guards in the country's Far East opened fire on a suspected
Chinese fishing vessel to stop it from poaching in the Sea of Japan, a
spokesman for the Border Guards Service said on Tuesday. (Jul 17, 2012) Full Article
Russia's Soyuz spacecraft docked with the International Space Station (ISS) on Tuesday, the Mission Control said. (Jul 17, 2012) Full Article
A
village in Japan's Fukushima prefecture was divided into three zones on
Tuesday and one was fenced off because of high level of radioactive
contamination. (Jul 17, 2012) Full Article
A
foreign doctor working on a U.N. polio immunization campaign was
injured when unidentified gunmen opened fire on his vehicle in the
southern Pakistani city of Karachi on Tuesday, Pak media reported
quoting officials. (Jul 17, 2012) Full Article
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