Economic News November 8, 2012
Switzerland's
unemployment rate rose slightly to 3 percent on a seasonally adjusted
basis in October from 2.9 percent in September, the State Secretariat
for Economic Affairs said Thursday. (Nov 8, 2012) Full Article
Inflation
in the Netherlands, as measured by the harmonized index of consumer
prices (HICP), accelerated to a ten-year high in October, mainly due to a
two percentage-point increase in the value-added tax, the latest
figures from Statistics Netherlands showed Thursday. (Nov 8, 2012) Full Article
The
French government still expects the economy to grow 0.8 percent in
2013, despite the European Commission's relatively downbeat forecasts
released Wednesday, Labor Minister Michel Sapin said in an interview to
France Info radio on Thursday. (Nov 8, 2012) Full Article
Greece's
unemployment rate increased further and hit a new record high in
August, as the deepening financial crisis in the debt-stricken economy
continued to weaken the labor market. (Nov 8, 2012) Full Article
Global
food prices decreased slightly in October, mainly due to a fall in
international prices of cereals, oils and fats, data released by the
Food and Agriculture Organization (FAO) showed Thursday. (Nov 8, 2012) Full Article
While
the Labor Department released a report on Thursday showing an
unexpected drop by first-time claims for U.S. unemployment benefits in
the week ended November 3rd, the data was likely skewed as a result of
Hurricane Sandy. (Nov 8, 2012) Full Article
With
the value of exports increasing at a faster rate than the value of
imports, the U.S. Commerce Department released a report on Thursday
showing that the U.S. trade deficit unexpectedly narrowed in the month
of September. (Nov 8, 2012) Full Article
Forex Top Story
The
unemployment rate in New Zealand jumped to 7.3 percent in the third
quarter of 2012, Statistics New Zealand said on Thursday, hitting a
13-year high. (Nov 8, 2012) Full Article
Core
machine orders in Japan fell a seasonally adjusted 4.3 percent on month
in September to 686.2 billion yen, the Cabinet Office said on Thursday -
falling for the second straight month. (Nov 8, 2012) Full Article
Australia's
unemployment rate jumped to a seasonally adjusted 5.4 percent in
October, the Australian Bureau of Statistics said on Thursday. (Nov 8, 2012) Full Article
Greek
lawmakers have backed a crucial austerity bill by a thin majority in
the 300-member Parliament, clearing the way for the country to secure
the next bailout tranche worth EUR 31.5 billion. (Nov 8, 2012) Full Article
Germany's
exports declined in September at the fastest pace since December 2011,
reflecting subdued demand from Europe and underpinned the assessment
that the growth-engine of the single currency bloc will remain weak at
the end of 2012. Exports declined 2.5 percent in September from a month
ago, offsetting a 2.3 percent rise in August, Destatis said Thursday. (Nov 8, 2012) Full Article
The
Bank of England decided not to provide another cash injection, as the
economy exited a double-dip recession and the positive impact of the
Funding for Lending Scheme is yet to fully filter into the economy. The
nine-member Monetary Policy Committee governed by Mervyn King maintained
its quantitative easing at GBP 375 billion. (Nov 8, 2012) Full Article
The
European Central Bank left its key interest rates unchanged for the
fourth consecutive month on Thursday amid signs of an increasingly
deteriorating euro area economy with record high unemployment. Policy
makers chose to maintain the status quo as the ECB waits for Spain to
seek help from international lenders, which will allow it to kick-start a
fresh round of government bond buying. (Nov 8, 2012) Full Article
Commodities
The
price of gold was little changed Thursday morning as the US dollar was
steady versus a basket of currencies ahead today's macroeconomic data. (Nov 8, 2012) Full Article
The
price of crude oil was recovering from its yesterday's steep fall
Thursday morning even as worries continued that US may not be able to
avoid the deep spending cuts and tax hikes set to automatically take
place in January. (Nov 8, 2012) Full Article
Political News
The
18th National Congress of the Communist Party of China (CPC) opened at
the Great Hall of the People in capital Beijing on Thursday, thereby
setting in motion a once-in-a-decade process to pick the country's next
generation of leaders. (Nov 8, 2012) Full Article
A
historic treaty to regulate global arms trade has won the backing of an
overwhelming majority of states in the U.N. General Assembly. (Nov 8, 2012) Full Article
United
Nations High Commissioner for Human Rights Navi Pillay on Thursday
called upon ASEAN leaders to take more time to develop a regional Human
Rights Declaration. (Nov 8, 2012) Full Article
Currency Alerts
The
Australian dollar strengthened against other major currencies in the
early Asian session on Thursday as the country added more jobs than
expected in October. (Nov 8, 2012) Full Article
In
the early Asian session on Thursday, the New Zealand dollar fell
sharply against other major currencies after a report showed that
country's unemployment rate hit a 13-year high in the third quarter. (Nov 8, 2012) Full Article
The
Japanese yen strengthened against other major opponents in the Asian
session on Thursday amid risk aversion as traders turned their attention
towards U.S. fiscal cliff after Obama's victory. (Nov 8, 2012) Full Article
General News
At
least 48 people were killed when a powerful earthquake of 7.4-magnitude
struck off Guatemala's Pacific coast on Wednesday, according to the
country's President Otto Perez Molina. (Nov 8, 2012) Full Article
At
least four people have been killed after a four-storey department store
collapsed in Ghana's capital Accra, media reports citing officials said
late on Wednesday. (Nov 8, 2012) Full Article
At
least two soldiers have been killed and 21 others injured in a
suicide-bomb attack on a paramilitary base in the Pakistani city of
Karachi, media reports citing officials said on Thursday. (Nov 8, 2012) Full Article
Ertharin
Cousin, Executive-Director of the United Nations World Food Program
(WFP), on Wednesday thanked the Lebanese people and government for
supporting hundreds of thousands of Syrians who have sought refuge in
Lebanon after fleeing violence in their country. (Nov 8, 2012) Full Article
A
U.S. federal judge in Los Angeles on Wednesday sentenced the man behind
an anti-Muslim film that triggered violent protests across the Muslim
world earlier this year to one year in prison for violating his
probation linked to a 2010 bank fraud conviction. (Nov 8, 2012) Full Article
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