Economic News October 3, 2012
Eurozone's
private sector contracted at a slower pace than estimated earlier in
September, a detailed result of a survey by Markit Economics showed
Wednesday. (Oct 3, 2012) Full Article
Activity
in the British service sector increased at a slower pace in September,
and the rate of growth was below economists' expectations, data released
by Markit Economics and the Chartered Institute of Purchasing and
Supply (CIPS) showed Wednesday. (Oct 3, 2012) Full Article
Consumer
confidence in India deteriorated the most on record in September as
households turned more downbeat about both the current situation and the
future of the economy, data from a survey by consumer confidence
tracker BluFin showed Wednesday. (Oct 3, 2012) Full Article
Private
sector employment in the U.S. rose by more than expected in the month
of September, according to a report released by payroll processor
Automatic Data Processing, Inc. (ADP) on Wednesday. (Oct 3, 2012) Full Article
The
U.K. central bank is set to stick to the current level of quantitative
easing and leave its interest rate unchanged at historic low as
policymakers are likely to take note of the improvement in the economy. (Oct 3, 2012) Full Article
Forex Top Story
Australia
posted a seasonally adjusted merchandise trade deficit of A$2.027
billion in August, the Australian Bureau of Statistics said on
Wednesday. (Oct 3, 2012) Full Article
An
indicator of China's service sector performance declined in September,
suggesting a more moderate expansion of operating conditions in the
sector, a survey by the China Federation of Logistics and Purchasing
(CFLP) showed Wednesday. (Oct 3, 2012) Full Article
Shop
price inflation in the United Kingdom edged down in September mainly
due to falling prices of non-food articles, a report from the British
Retail Consortium (BRC) showed Wednesday. (Oct 3, 2012) Full Article
The
Asian Development Bank, or ADB, on Wednesday slashed its growth
forecast for developing Asia, citing gloomier global prospects and weak
domestic demand in the region's largest economies. At the same time, the
lender stressed the need to unlock the potential of the service sector
to boost economic growth. In the Asian Development Outlook 2012 Update,
the bank cut the region's growth forecast for this year sharply to 6.1
percent from the 6.9 percent estimated in April. (Oct 3, 2012) Full Article
Eurozone retail sales increased for the fourth consecutive month in August, but the pace of growth remained weak. (Oct 3, 2012) Full Article
Commodities
The
price of gold was steady near its seven-month high Wednesday morning as
the U.S. dollar was little changed versus a basket of currencies ahead
of private sector employment report from the ADP. (Oct 3, 2012) Full Article
The
price of crude oil was moving lower Wednesday morning amid anxiety over
Spain's bailout plan after Spanish Prime Minister Mariano Rajoy played
down expectations of an immediate bailout for his debt-ridden nation. (Oct 3, 2012) Full Article
Political News
The
remains of late Turkish President Turgut Özal have been exhumed on the
orders of prosecutors as part of a belated investigation into allegation
of foul play in his 1993 death. (Oct 3, 2012) Full Article
The
United States, European Union and Russia on Tuesday hailed Georgia's
Parliamentary elections, hours after partial results indicated that an
Opposition coalition led by billionaire tycoon Bidzina Ivanishvili was
ahead in winning parliamentary majority. (Oct 3, 2012) Full Article
Amnesty
International has urged the government in South Sudan to take immediate
action to end human rights violations including torture, shootings and
sexual violence by its security forces engaged in a civilian disarmament
campaign in eastern Jonglei state. (Oct 3, 2012) Full Article
U.S.
military training for Iraqi security forces will continue uninterrupted
despite failure of the Congress to approve money for it in a temporary
spending bill now funding government operations, the Pentagon has said. (Oct 3, 2012) Full Article
Iran's
currency, the rial, hit an all-time low against dollar on Tuesday and
President Mahmoud Ahmadinejad blamed the decline on the "psychological
pressure" caused by Western sanctions to deter the government from its
nuclear program. (Oct 3, 2012) Full Article
Currency Alerts
During
the early Asian session on Wednesday, the Australian dollar fell
against its major opponents after a report showed that country's trade
deficit widened more-than-expected. (Oct 3, 2012) Full Article
The
New Zealand dollar declined against other major currencies in the Asian
session on Wednesday as traders sold riskier assets in response to
Spain's denial for an imminent bailout. (Oct 3, 2012) Full Article
General News
Japan
has pressed into service an unmanned helicopter to measure radiation
levels within a three-kilometer radius of the tsunami-wrecked Fukushima
Daiichi nuclear power plant, where detailed studies have not been
conducted since the accident last year. (Oct 3, 2012) Full Article
At
least 22 people have been killed when a passenger bus plunged into a
250-meter deep ravine in northern Peru, media reports citing local
officials said late on Tuesday. (Oct 3, 2012) Full Article
Authorities
in Hong Kong have arrested seven people in connection with a deadly
collision between two boats in which at least 38 people were killed,
media reports citing officials said late on Tuesday. (Oct 3, 2012) Full Article
Palestinians
face serious abuses in the Hamas criminal justice system, including
arbitrary arrest, incommunicado detention, torture, and unfair trials,
the Human Rights Watch (HRW) said in a report released on Wednesday. (Oct 3, 2012) Full Article
The
number of Syrians who have sought refuge in neighboring countries of
Jordan, Lebanon, Turkey and Iraq after fleeing violence at home has more
than tripled since June to over 300,000, the U.N. refugee agency said
on Tuesday. (Oct 3, 2012) Full Article
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