Economic News August 27, 2012
A
leading indicator of Eurozone's economic activity remained unchanged in
July, following three months of consecutive declines, a report from the
Conference Board showed Monday. (Aug 27, 2012) Full Article
A
report on Greece's progress on economic reforms by the European
Commission, European Central Bank and the International Monetary Fund or
the troika will be delayed until early October, Germany's Rheinische
Post reported Monday. (Aug 27, 2012) Full Article
Forex Top Story
The
Greeks must demonstrate the credibility of their fiscal consolidation
program and the commitment to implement the necessary reforms, French
President Francois Hollande said after a meeting with Greek Prime
Minister Antonis Samaras in Paris on Saturday. (Aug 27, 2012) Full Article
House
prices in the United Kingdom is expected to face further squeeze during
the rest of the year, as supply continues to outstrip demand, a survey
by Hometrack showed Monday. (Aug 27, 2012) Full Article
Moody's
Investors Service on Monday upgraded South Korea's credit rating,
citing a high degree of economic resilience and strong fiscal
fundamentals. (Aug 27, 2012) Full Article
Germany's
business sentiment deteriorated for the fourth consecutive month in
August as firms expressed greater pessimism about their future activity
amid fears of recession in the 17-nation currency bloc, a closely
watched survey revealed Monday. (Aug 27, 2012) Full Article
Political News
Russian female punk band Pussy Riot says two of its activists wanted by the police have fled the country. (Aug 27, 2012) Full Article
Japan
has decided to turn down a request of the Tokyo Metropolitan government
to land on the disputed Senkaku islands in the East China Sea. (Aug 27, 2012) Full Article
The
Nigerian government says it has begun negotiations with the militant
Islamist group Boko Haram and clarified that they are not formal and
direct, but through multi-level backroom channels. (Aug 27, 2012) Full Article
Libya's
interim Interior Minister Fawzi Abdel-Ali has resigned after members of
the newly-elected Parliament accused his Ministry of not doing enough
to stop attackers who bulldozed a Sufi shrine and a mosque in Tripoli. (Aug 27, 2012) Full Article
Analyst Currency Comments
Analysts
at Westpac noted on Monday that high-yielding currencies were mostly
lower in Monday's early Asian deals. Meanwhile, the US dollar began the
week on a positive note. After a fair beginning, the AUD/USD lost
momentum in late morning, falling to a monthly low of 1.0372 from the
day's high of 1.0435 as the USD/CNY daily reference rate hit screens.
The yuan exchange rate had little impact in spot CNY trading. The
NZD/USD pair stabilized around the 0.81 area after having fallen to
around the 0.8082 area, much below the day's peak of 0.8129. (Aug 27, 2012) Full Article
Currency Alerts
The
Australian and New Zealand dollars slipped against their major
counterparts in the early Asian session on Monday on global growth
concerns. (Aug 27, 2012) Full Article
The
euro failed in its recovery attempt in early deals Monday, as lack of
cues on measures to weather eurozone risks and very little macroeconomic
data from the region kept traders on the sidelines. (Aug 27, 2012) Full Article
General News
Security
forces in Saudi Arabia have claimed to have busted two terror cells in
capital Riyadh and the Red Sea port city of Jeddah, foiling their attack
plans and arresting two Saudis and six Yemenis, the Interior Ministry
said on Sunday. (Aug 27, 2012) Full Article
The
United States has refuted a report which said that it is "willing to
cede Afghan territory as part of a rapprochement with the Haqqani
network and that the U.S. sees the Haqqani Network playing an
'...important role in the future political dispensation of Afghanistan." (Aug 27, 2012) Full Article
Members
of a Japanese civic group left for North Korea on Monday to examine the
remains of Japanese who died on the Korean peninsula around the end of
World War II. (Aug 27, 2012) Full Article
A
Syrian military helicopter crashed in flames after it was apparently
hit during fightings between government forces and armed rebels in
Damascus on Monday, reports quoting Syrian activists said. (Aug 27, 2012) Full Article
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