Economic News November 15, 2012
The
Dutch economy contracted at a faster rate than economists expected in
the third quarter, reversing the previous quarter's modest growth,
preliminary data released by the Central Bureau of Statistics showed
Thursday. (Nov 15, 2012) Full Article
Inflation
in the euro area weakened in October as estimated earlier, final data
released by statistical office Eurostat showed Thursday. (Nov 15, 2012) Full Article
Spain
should urgently seek an emergency aid, European Central Bank Governing
Council member Luc Coene was quoted as saying by Belgian daily De
Standaard on Thursday. (Nov 15, 2012) Full Article
With
the data reflecting the impact of the major disruptions caused by
Hurricane Sandy, the Labor Department released a report Thursday morning
showing that initial jobless claims rose by much more than anticipated
in the week ended November 10th. (Nov 15, 2012) Full Article
Consumer
prices in the U.S. saw a modest increase in the month of October,
according to a report released by the Labor Department on Thursday, with
the price growth matching economist estimates. (Nov 15, 2012) Full Article
Conditions
for New York manufacturers declined at a modest pace in the month of
November, the Federal Reserve Bank of New York revealed in a report on
Thursday, with the general business conditions index remaining negative
for the fourth consecutive month. (Nov 15, 2012) Full Article
Forex Top Story
Moody's
Investors Service on Wednesday said it will revisit the U.K.'s AAA
government debt rating and the current 'negative' outlook next year in
the face of gloomier economic prospects and rising risks from euro area
crisis. (Nov 15, 2012) Full Article
Improved
external demand and household consumption supported a modest recovery
by both Germany and France in the third quarter, although the overall
economic situation in the entire Eurozone remains bleak. The German
gross domestic product grew 0.2 percent quarter-on-quarter in the third
quarter, the Federal Statistical Office said Thursday. (Nov 15, 2012) Full Article
Despite
expansions in Germany and France, the euro area officially slipped into
a recession in the third quarter as governments across member nations
unfold tough austerity measures in the face of widespread protests. (Nov 15, 2012) Full Article
U.K.
retail sales eased more-than-expected in October, reflecting weak
demand for food and clothing ahead of the Christmas shopping season.
Sales volume that include automotive fuel declined 0.8 percent
month-on-month in October, reversing the previous month's 0.5 percent
rise, the Office for National Statistics reported Thursday. (Nov 15, 2012) Full Article
Commodities
The
demand for gold was steady in the third quarter 2012, largely due to
requirements from Exchange Traded Funds and central banks, according to
the World Gold Council. (Nov 15, 2012) Full Article
The
price of gold was moving lower Thursday morning as the US dollar was
steady versus a basket of currencies ahead of inflation data. (Nov 15, 2012) Full Article
The
price of crude oil was little changed Thursday morning as traders await
cues from the official inventories data from the EIA, due out later
today. (Nov 15, 2012) Full Article
Political News
China's
Communist Party has elected Vice-President Xi Jinping as its new
General Secretary, and a new generation of leaders who will rule the
country in the next decade. (Nov 15, 2012) Full Article
In
the wake of the deaths of a dozen Palestinians in a wave of Israeli air
strikes on Gaza Strip on Wednesday, U.S. President Barack Obama urged
Israeli Prime Minister Benjamin Netanyahu to make every effort to avoid
civilian casualties, and called upon Gaza militant group Hamas to stop
the attacks on Israel and allow the situation to de-escalate. (Nov 15, 2012) Full Article
The
Chairman of the U.S. Joint Chiefs of Staff has said he retains
"absolute confidence" in Marine Gen. John Allen's ability to command
NATO's International Security Assistance Force (ISAF) in Afghanistan
despite facing an internal inquiry. (Nov 15, 2012) Full Article
Three
Israelis were killed and three others injured as rockets fired from
Gaza slammed a four-storey building in the southern Israeli town of
Kiryat Malahi on Thursday, as the Palestinian militant outfit Hamas
retaliated to the killing of its military commander Ahmed Said Khalil
al-Jabari and 12 others in Israeli missile attacks on Wednesday. (Nov 15, 2012) Full Article
Currency Alerts
The
Australian dollar edged lower on Thursday in Asia as majority of
Asia-pacific equity markets are trading in negative territory (Nov 15, 2012) Full Article
In
the early European session on Thursday, the pound declined against most
major opponents after the release of weaker than expected U.K. retail
sales data in October. (Nov 15, 2012) Full Article
The
euro climbed against other major currencies on Thursday as
better-than-expected gross domestic product data from Germany, France
and Italy prompted investors to seek the European currency. (Nov 15, 2012) Full Article
Forex Commentary
The
yen fell across the board on Thursday, as Japanese opposition leader
Shinzo Abe called for unlimited monetary easing to counter deflation. (Nov 15, 2012) Full Article
General News
U.S.
Secretary of State Hillary Clinton on Wednesday announced $30 million
in additional humanitarian assistance to help those affected by the
conflict in Syria. (Nov 15, 2012) Full Article
"The
United Nations system failed to meet its responsibilities,"
Secretary-General Ban Ki-moon said on Wednesday as he released a U.N.
report looking into the world body's actions during the final months of
the 2009 war in Sri Lanka and its aftermath. (Nov 15, 2012) Full Article
The
U.N. Security Council (UNSC) on Wednesday extended for another year the
mandate of the European peacekeepers tasked with ensuring the continued
compliance by all sides with the 1995 Dayton Peace Agreement that ended
fighting in Bosnia and Herzegovina. (Nov 15, 2012) Full Article
Human
Rights Watch (HRW) and the Center for International Environmental Law
(CIEL) on Thursday urged the World Bank to incorporate human rights in
its revised policies as a key component of fulfilling its mission to
eradicate poverty. (Nov 15, 2012) Full Article
The
European Commission on Thursday launched a blueprint to safeguard
Europe's water resources, a strategy for ensuring that enough good
quality water is available to meet the needs of people, the economy and
the environment. (Nov 15, 2012) Full Article
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