Economic News October 18, 2012
House
prices increased in fewer cities in China in September than a month
ago, indicating a moderation in price growth amid the government's
decision to maintain tight curbs on real estate market activities. (Oct 18, 2012) Full Article
Switzerland's
merchandise exports decreased notably from last year in September, data
released by the Swiss Federal Customs Administration showed Thursday. (Oct 18, 2012) Full Article
German
Chancellor Angela Merkel has proposed giving stronger powers to the
European Union to intervene in national budgets while suggesting
creation of a new fund to finance ailing European economies, reports
said Thursday. (Oct 18, 2012) Full Article
Turkey's
central bank on Thursday lowered its overnight lending rate for the
second successive time as economic growth eased further amid weak
domestic demand and inflation pressures increased. (Oct 18, 2012) Full Article
After
unexpectedly falling to a four-year low in the previous week,
first-time claims for U.S. unemployment benefits rebounded by more than
expected in the week ended October 13th. (Oct 18, 2012) Full Article
Forex Top Story
The
Chinese economy cooled further in the third quarter, extending the
slowdown to seven quarters while faster-than-expected growth in
industrial production and retail sales signaled a moderate pick up in
economic activity at the end of the three-month period. (Oct 18, 2012) Full Article
Citing
Cyprus's failure to clinch a timely deal with the troika after
officially requesting European financial support in June, Standard and
Poor's on Thursday downgraded the nation's credit rating deeper into
junk status. (Oct 18, 2012) Full Article
U.K.
retail sales growth exceeded economists' forecast in September on
healthy clothing and school uniform sales, boosting hopes of recovery in
the third quarter. (Oct 18, 2012) Full Article
Spain
sold more government bonds than its maximum target on Thursday at lower
cost, ahead of European Union leaders gathering for a two-day summit in
Brussels. (Oct 18, 2012) Full Article
Commodities
The
price of gold was ticking lower Thursday morning as traders were
cautious ahead of the outcome of the two-day summit of the EU leaders at
Brussels, beginning today. (Oct 18, 2012) Full Article
The
price of crude oil was little changed Thursday morning as traders
digest economic growth data out of China, the second largest energy
consuming nation and inventories data from the U.S., the world's largest
economy. (Oct 18, 2012) Full Article
Political News
The United States has held its first Human Rights Dialogue with the Myanmar government, and termed it as "very positive." (Oct 18, 2012) Full Article
NATO
will stick to its goal, strategy and timeline to hand over full
security responsibility to Afghan forces by the end of 2014,
Secretary-General Anders Fogh Rasmussen said on Thursday during a visit
to Afghanistan. (Oct 18, 2012) Full Article
The Russian government has approved a draft law that seeks to ban smoking at public places from 2015, Russian media reported. (Oct 18, 2012) Full Article
Currency Alerts
The
Australian dollar advanced against other major currencies in the Asian
session on Thursday as stocks advanced after China GDP data came in line
with expectations and positive economic data from the United States. (Oct 18, 2012) Full Article
The
pound firmed against other major currencies in the early European
session on Thursday following the release of country's strong retail
sales data for September. (Oct 18, 2012) Full Article
The yen was a clear underperformer among major currencies in early deals Thursday (Oct 18, 2012) Full Article
General News
Australia
and India have agreed to start negotiations on a nuclear safeguards
agreement that seeks to resume uranium export to India. (Oct 18, 2012) Full Article
Japanese
researchers have installed a large radar systems in the sea off
Wakayama prefecture in the country's west to monitor tsunami generation
at an early stage. (Oct 18, 2012) Full Article
The
tenth Annual Education for All Global Monitoring Report shows that 12
percent of young people are dropping out of secondary schools in New
York, and are left without vital foundation skills for work. This
constitutes one fifth of young people aged 17-24 years being out of
school and unemployed. (Oct 18, 2012) Full Article
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