Economic News August 14, 2012
Unemployment
in Estonia decreased to the lowest level since 2008 in the second
quarter, data released by Statistics Estonia showed Tuesday. (Aug 14, 2012) Full Article
The
Czech economy moved deeper into recession in the second quarter, the
preliminary estimate published by the Czech Statistical Office showed
Tuesday. (Aug 14, 2012) Full Article
Romania's
economy posted modest growth in the second quarter, recovering from
contractions recorded in the previous months, preliminary data released
by the National Institute of Statistics showed Tuesday. (Aug 14, 2012) Full Article
Unemployment
in Portugal increased to a record high in the second quarter, as the
labor market has been hit by the deepening economic recession, data
released by Statistics Portugal showed Tuesday. (Aug 14, 2012) Full Article
U.S.
retail sales posted an unexpectedly strong rebound in July despite a
contraction in June that was worse than initially reported, according to
figures released Tuesday by the Commerce Department. Overall U.S.
retail sales were up 0.8 percent in July to a seasonally adjusted level
of $403.9 billion, a notably stronger growth than the 0.3 percent
predicted by most economists. However, June retail sales figures which
had initially shown a 0.5 percent decline, were revised even further dow (Aug 14, 2012) Full Article
Forex Top Story
Members
of the Bank of Japan's monetary policy board feel that Japan's economy
will return to a moderate recovery path, the minutes from its July 11-12
meeting revealed on Tuesday. (Aug 14, 2012) Full Article
House
prices in the U.K. declined to the lowest in a year in July, while
sales plunged to near four-year low, a survey by the Royal Institution
of Chartered Surveyors (RICS) revealed Tuesday. (Aug 14, 2012) Full Article
India
has little scope for any kind of fiscal or monetary response to counter
future economic crises triggered by global factors, Reserve Bank of
India Go
Confidence
among Australian businesses rebounded in July after deteriorating
steadily over the previous two months, a survey by the National
Australia Bank (NAB) showed Tuesday. (Aug 14, 2012) Full Article
The
German economy grew more than expected in the second quarter, supported
by domestic consumption and net exports. Meanwhile, the French economy
stalled for a third successive quarter due to weak demand both at home
and abroad. (Aug 14, 2012) Full Article
India's
wholesale price inflation slowed more than expected in July as
inflationary pressures subsided with weak economic activity. (Aug 14, 2012) Full Article
British
inflation bounced back unexpectedly in July as the impact of heavy
summer discounting earlier than usual this year started to fade. (Aug 14, 2012) Full Article
German
investor confidence unexpectedly declined for the fourth straight month
in August to its lowest level so far this year on increasing concerns
over economic slowdown and the consequent weakness in exports. (Aug 14, 2012) Full Article
The
Eurozone economy contracted for the second time in three quarters as
expected, despite the two biggest economies of the region showing some
resilience, lifting possibilities of a recession going forward, official
data showed Tuesday. (Aug 14, 2012) Full Article
Commodities
The price of gold was steady Tuesday morning as the euro continued to strengthen after economic growth data out of Europe. (Aug 14, 2012) Full Article
The
price of crude oil was ticking higher Tuesday morning amid a generally
weak U.S. dollar and on hopes for further stimulus measures from the
ECB. (Aug 14, 2012) Full Article
Political News
Foreign
Ministers of the Organization of Islamic Cooperation (OIC) who met in
the Saudi port city of Jeddah on Monday ahead of the Mecca Islamic
solidarity summit agreed to expel Syria from the 57-member pan-Islamic
body in protest against the Assad regime's "unrelenting bloodbath"
against its own people. (Aug 14, 2012) Full Article
U.S.
Special Envoy to the Organization of Islamic Conference (OIC) Rashad
Hussain will attend the Fourth Extraordinary Session of the Islamic
Summit Conference as an observer. (Aug 14, 2012) Full Article
A
senior aide to Syrian President Bashar al-Assad has flown to China to
hold talks with the Communist nation's Foreign Minister on the current
crisis in that Middle East Country, media reports citing officials said
on Tuesday. (Aug 14, 2012) Full Article
Japan
and North Korea have agreed to hold talks later this month over the
repatriation of the remains of Japanese who died on the Korean peninsula
around the end of World War II. (Aug 14, 2012) Full Article
South
Korean President Lee Myung-bak said on Tuesday that Japan's emperor
should sincerely apologize for his country's colonial rule of the Korean
peninsula if he wanted to visit South Korea. (Aug 14, 2012) Full Article
Analyst Currency Comments
Westpac
analysts noted that trading in the Asian forex market remained quiet on
Tuesday as the market awaits key data from Europe and U.S. later in the
day. (Aug 14, 2012) Full Article
Currency Alerts
The
yen slipped against other major currencies in the early Asian session
on Tuesday after the release of Bank of Japan's July meeting minutes. (Aug 14, 2012) Full Article
The
euro has extended its Asian session gains against most major currencies
on Tuesday after the releases of the preliminary second quarter GDP
reports from France and Germany. (Aug 14, 2012) Full Article
The
euro paused its Asian session rally on Tuesday in early deals after a
report showed that eurozone's economy contracted in the second quarter. (Aug 14, 2012) Full Article
The
Japanese yen fell across the board in early New York deals Tuesday as
an unexpected rebound of U.S. retail sales increased investors appetite
for risk. (Aug 14, 2012) Full Article
General News
U.N.
Secretary-General Ban Ki-moon has expressed concerns over the delay in
the selection of a new Somali Parliament, and urged the council of
elders entrusted with the responsibility to resolve their differences on
the issue before a deadline set for the country's transition process
ends later this month. (Aug 14, 2012) Full Article
Turkey has collected TL 5.325 million ($2.962 million) in aid for the persecuted Rohingya Muslims in Myanmar. (Aug 14, 2012) Full Article
The
Swedish government has warned its citizens in Belarus "to be
particularly careful and cautious when traveling and staying in the
country." (Aug 14, 2012) Full Article
Kenyan
authorities have found the wreckage of two Ugandan military helicopters
which went missing two days ago in a remote mountainous region in
Kenya, media reports citing unnamed officials said Tuesday. (Aug 14, 2012) Full Article
Three
militants engaged in arms delivery were arrested in separate operations
carried out by Afghan-NATO security forces in various parts of
Afghanistan since Monday. (Aug 14, 2012) Full Article
French payroll employment declined in the second quarter, flash esti
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