Economic News August 9, 2012
Unemployment
in Greece increased further and reached a new record high in May, as
the labor market continues to be hit by the deepening recession, data
released by the Hellenic Statistical Authority showed Thursday. (Aug 9, 2012) Full Article
A
strong increase in exports combined with a drop in imports combined to
shrink the U.S. trade deficit much more than expected, according to
figures released Thursday by the Commerce Department. Commerce
Department figures project a total level of U.S. exports of $185 billion
for June with imports of $227.9 billion leading to a deficit of $42.9
billion. The deficit marks a 10.7 percent drop from the revised May
level of $48 billion, which was itself revised down from the $48.7
billion init (Aug 9, 2012) Full Article
First-time
claims for U.S. unemployment benefits unexpectedly showed a modest
decrease in the week ended August 4th, according to a report released by
the Labor Department on Thursday. (Aug 9, 2012) Full Article
A
leading indicator of the Organization for Economic Co-operation and
Development (OECD) area indicated moderate growth in the region's
economy in June, latest data showed. (Aug 9, 2012) Full Article
The
intensification of fiscal consolidation in some euro area nations and
higher uncertainty over debt crisis are set to weigh on overall growth
prospects, results of the Survey of Professional Forecasters released
with the European Central Bank monthly bulletin showed Thursday. (Aug 9, 2012) Full Article
Forex Top Story
The
unemployment rate in New Zealand came in at a seasonally adjusted 6.8
percent in the second quarter of 2012, Statistics New Zealand said on
Thursday. That missed forecasts for 6.5 percent after showing 6.7
percent in the first quarter. (Aug 9, 2012) Full Article
Core
machine orders in Japan climbed a seasonally adjusted 5.6 percent on
month in June, the Cabinet Office said on Thursday - rising for the
second time in three months. (Aug 9, 2012) Full Article
Australia's
unemployment rate came in at a seasonally adjusted 5.2 percent in July,
the Australian Bureau of Statistics said on Thursday - in line with
expectations and down from the revised June reading of 5.3 percent. (Aug 9, 2012) Full Article
The Bank of Korea's monetary policy board on Thursday kept interest rates unchanged at 3.00 percent, in line with expectations. (Aug 9, 2012) Full Article
Inflation
in China eased for a fourth straight month to reach a 30-month low in
July, paving way for the policymakers to go ahead with stimulus measures
to counter a slowdown in economic growth. (Aug 9, 2012) Full Article
The
Bank of Japan on Thursday decided to keep its stimulus program and key
interest rate unchanged as the economy is expected to undergo a moderate
recovery path. (Aug 9, 2012) Full Article
India's
industrial production declined unexpectedly in June, marking the third
decline in four months, amid persistent weakness in the domestic economy
and lower external demand due to the global slowdown. (Aug 9, 2012) Full Article
U.K.
visible trade gap widened to a record in the second quarter as weak
demand for goods hampered exports that could act as a drag on the
economy that is mired in recession. (Aug 9, 2012) Full Article
Commodities
The
price of gold was flat Thursday morning as the U.S. dollar was steady
versus a basket of currencies ahead of weekly jobless claims data. (Aug 9, 2012) Full Article
The
price of crude oil was steady near $94 Thursday morning as traders
speculated further monetary policy easing by Chinese officials after
data showed a fall in Chinese consumer price inflation to a 30-month low
in July. (Aug 9, 2012) Full Article
The
price of crude oil was steady near $94 Thursday morning as traders
speculated further monetary policy easing by Chinese officials after
data showed a fall in Chinese consumer price inflation to a 30-month low
in July. (Aug 9, 2012) Full Article
The
Organization of the Petroleum Exporting Countries maintained its 2012
world oil demand growth forecast at 0.90 mbd and said the summer driving
season, the summer heat, and the continued shutdown of most of Japan's
nuclear capacity supported demand growth. (Aug 9, 2012) Full Article
Political News
Libya's
transitional government has handed over power to the newly-elected
National Assembly, marking the first peaceful transfer of power in the
North African country's modern history. (Aug 9, 2012) Full Article
Egyptian
President Mohammed Morsi has sacked the country's intelligence chief
and other senior security officials in the wake of a deadly attack by
militants on a security checkpoint near the border with Israel, it was
announced late on Wednesday. (Aug 9, 2012) Full Article
Japanese
Prime Minister Yoshihiko Noda on Thursday reiterated his government's
commitment to reducing the country's dependence on nuclear energy in the
wake of last year's Fukushima nuclear disaster. (Aug 9, 2012) Full Article
The
United States has said that the Belarusian government's decision to
expel the Swedish Ambassador over a political stunt involving teddy
bears will "only serve to deepen Belarus' self-isolation." (Aug 9, 2012) Full Article
The
United States on Wednesday hailed the formation of a new coalition
government in the Democratic Republic of Timor-Leste, better known as
East Timor, under the leadership of Prime Minister Kay Rala Xanana
Gusmao. (Aug 9, 2012) Full Article
Currency Alerts
In
the early Asian session on Thursday, the Australian dollar strengthened
against most major currencies after the release of better employment
data for July. (Aug 9, 2012) Full Article
Thursday, the yen was rather unchanged by Bank of Japan's decision to refrain from adding additional stimulus (Aug 9, 2012) Full Article
The
euro was the worst performer among major currencies on Thursday after a
European Central Bank survey predicted that the euro area economic
contraction would be worse than previously estimated. (Aug 9, 2012) Full Article
General News
Colombian
authorities said late on Wednesday that Erikson Vargas, one of the
country's main drug lords, was arrested in an anti-drug operation
carried out near the north-western city of Medellin. (Aug 9, 2012) Full Article
Colombian
authorities said late on Wednesday that Erikson Vargas, one of the
country's main drug lords, was arrested in an anti-drug operation
carried out near the north-western city of Medellin. (Aug 9, 2012) Full Article
The
United Nations has welcomed the decrees issued by Yemeni President
Abdrabuh Mansour Hadi earlier in the week for restructuring the
country's security system. (Aug 9, 2012) Full Article
The
United Nations and Somalia's Transitional Federal Government (TFG) have
signed an action plan aimed at ending the killing and maiming of
children in the Horn of Africa country, a U.N. press release said on
Wednesday. (Aug 9, 2012) Full Article
The
United States has launched a project to decontaminate Vietnamese
jungles, where its Army helicopters sprayed the toxic chemical Agent
Orange during the Vietnam War nearly four decades ago. (Aug 9, 2012) Full Article
The
European Union has urged Bangladesh to ensure humanitarian access to
Rohingya refugees from Myanmar, and to allow humanitarian aid
organizations "to do their work for the benefit of all communities." (Aug 9, 2012) Full Article
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