Economic News September 20, 2012
The
Bank of Japan on Thursday reiterated that the economy's recovery from
last year's earthquake has come a pause, while overseas economies have
"moved deeper into a deceleration phase." (Sep 20, 2012) Full Article
The
European Central Bank's new government bond purchase program may last
only for a few years, ECB Governing Council member Christian Noyer told
Frankfurter Allgemeine Zeitung in an interview published Thursday. (Sep 20, 2012) Full Article
U.K.
manufacturers forecast improvement in output over the coming three
months as new orders strengthened in September, a survey from the
Confederation of British Industry showed Thursday. (Sep 20, 2012) Full Article
The
Irish economy recorded zero growth in the second quarter, after
contracting in the previous quarter, preliminary data released by the
Central Statistics Office showed Thursday. (Sep 20, 2012) Full Article
Taiwan's
central bank on Thursday retained its benchmark interest rate unchanged
for the fifth consecutive quarter, citing risks to growth from
weakening external demand. The decision was in line with economists'
expectations. (Sep 20, 2012) Full Article
While
the Labor Department released a report on Thursday showing a modest
drop in first-time claims for U.S. unemployment benefits in the week
ended September 15th, jobless claims still came in above economist
estimates. (Sep 20, 2012) Full Article
High
external financing risks and inflation concerns would limit the scope
for Turkey's central bank to engage in further monetary loosening, after
it stepped into the easing mode this week by narrowing the `interest
rate corridor' with a 150-basis point cut in the lending rate, Capital
Economics Emerging Markets Economist William Jackson said Thursday. (Sep 20, 2012) Full Article
Forex Top Story
New
Zealand's gross domestic product expanded 0.6 percent in the second
quarter of 2012 compared to the previous three months, Statistics NZ
said on Thursday. (Sep 20, 2012) Full Article
Japan
posted a merchandise trade deficit of 754.127 billion yen in August,
the Ministry of Finance said on Thursday - sinking into the red for the
ninth time in 11 months. (Sep 20, 2012) Full Article
An
indicator of China's manufacturing performance rose marginally in
September from August's nine-month low, but continued to suggest
deterioration in activity with production falling at the fastest pace in
ten months. Flash results of a survey by Markit Economics and HSBC
revealed Thursday that the purchasing managers' index (PMI) rose to 47.8
in September from 47.6 in August. A PMI reading below 50, however,
suggests contraction of the sector. (Sep 20, 2012) Full Article
Eurozone
private sector activity fell to a 39-month low in September, a survey
showed, and the deterioration witnessed over the last few months signal
that the single currency region is clearly heading into a severe
recession. The composite output index, which measures activity in the
manufacturing sector and the service sector, fell unexpectedly to 45.9
from 46.3 in August, preliminary data released by Markit Economics
showed Thursday. (Sep 20, 2012) Full Article
Spain
conducted a successful bond auction on Thursday, with borrowing costs
falling amid hopes the country will request aid paving the way for the
European Central Bank to purchase sovereign debt. In the first bond
auction held by Spain after the European Central Bank announced its new
bond purchase plan earlier this month, the treasury raised EUR 4.8
billion from the sale of its benchmark 10-year bond and a new 3-year
bond, exceeding the top target of EUR 4.5 billion set for the sale. (Sep 20, 2012) Full Article
U.K.
retail sales declined as the London Olympics discouraged online
shopping in August, and further dampened prospects of support from
consumer spending to the economy. (Sep 20, 2012) Full Article
Commodities
The
price of gold was leveling off from its seven-month high Thursday
morning as traders book profits to cash in on recent gains. (Sep 20, 2012) Full Article
The
price of crude oil was extending losses Thursday morning as trader fret
over demand growth after data revealed contraction in Chinese
manufacturing activity. (Sep 20, 2012) Full Article
Political News
The
United States has denied allegation that U.S. Agency for International
Development (USAID) tried to influence Russian elections. (Sep 20, 2012) Full Article
The
results of a Gallup/USA Today poll released Wednesday indicate that 36
percent of voters are less likely to vote for Republican Presidential
candidate Mitt Romney considering his controversial comment that 47% of
voters are with Obama, and dependent on the government. (Sep 20, 2012) Full Article
Sweden's
public finances are expected to show a limited deficit in both 2012 and
2013, the Finance Ministry said in the Budget Bill for 2013, published
on Thursday. (Sep 20, 2012) Full Article
The
European Union's Internal Market Commissioner Michel Barnier reportedly
said on Thursday that he will work to find a compromise with Germany on
the proposal for a banking union. (Sep 20, 2012) Full Article
15th
European Union-China Summit opened in Brussels on Friday. On the
opening day, the European Commission's competition department and
China's antitrust authorities signed a Memorandum of Understanding to
increase cooperation between the two sides. (Sep 20, 2012) Full Article
Currency Alerts
In
the early Asian session on Thursday, the New Zealand dollar reversed
its direction and traded higher against other major currencies following
the release of nation's better-than-expected gross domestic product
report for the second quarter. (Sep 20, 2012) Full Article
The
Australian dollar slipped against its major opponents in the Asian
session on Thursday as traders sold high-yielding currency after data
showed that Chinese manufacturing contracted and Japanese exports
dropped for the third successive month. (Sep 20, 2012) Full Article
During
the Asian session on Thursday, the Japanese yen spiked up against other
major currencies amid concerns of China slowdown after Chinese
manufacturing activity showed continued contraction in September. (Sep 20, 2012) Full Article
The euro edged lower in early deals Thursday as negative data from China and the eurozone stoked concerns about global growth. (Sep 20, 2012) Full Article
General News
Oil
firms must be held liable for the costs of any potential environmental
damage - and have the means to pay - or else be denied licenses to drill
in EU waters, said environment committee MEPs voting on draft offshore
oil and gas safety legislation on Wednesday. (Sep 20, 2012) Full Article
The
US State Department has warned U.S. citizens to defer all non-essential
travel to Pakistan. In a Travel Warning update issued on Wednesday, it
reminded U.S. citizens of ongoing security concerns in Pakistan. (Sep 20, 2012) Full Article
The
United States will open additional consular facilities in China and
Brazil to increase visa processing capacity in those countries. (Sep 20, 2012) Full Article
The
United States will close all its diplomatic mission offices in
Indonesia on Friday over the threat of potential demonstrations that
might be held in front of those facilities. (Sep 20, 2012) Full Article
No comments:
Post a Comment