Economic News July 27, 2012
The Swiss economic barometer improved in July, reinforcing confidence in a further expansion of the economy in the months ahead, the KOF institute reported Friday. (Jul 27, 2012) Full Article
Italy's business confidence among manufacturers dropped more than expected to 87.1 in July from 88.7 a month ago, the statistical office Istat said on Friday. The index was forecast to drop to 88.5. (Jul 27, 2012) Full Article
A leading indicator of the Eurozone economy declined for the third consecutive month in June amid continuing weakness in manufacturing and the service sector, data from a survey by the Conference Board showed Friday. (Jul 27, 2012) Full Article
The European Commission on Friday said its has temporarily approved a bridge recapitalisation provided by the Hellenic Financial Stability Fund (HFSF) in favor of four Greek lenders, while opening an in-depth probe into whether the measure is in line with EU rules. (Jul 27, 2012) Full Article
Germany's EU harmonized inflation remained unchanged in July, but was slightly below economists' forecast, data released by the Federal Statistical Office showed Friday. (Jul 27, 2012) Full Article
U.S. economic growth slowed in the second quarter of 2012, but still grew by more than most economists had predicted. According to figures released Friday by the Commerce Department, the U.S. gross domestic product grew at 1.5 percent in the second quarter. That marks a slowdown from the 2 percent growth posted for the first quarter, but a smaller contraction than most economists, who predicted just 1.2 percent growth for Q2, had expected. The first quarter data, furthermore, was revise (Jul 27, 2012) Full Article
Forex Top Story
South Korea posted an unadjusted record current account surplus of $5.84 billion in June, the Bank of Korea said on Friday. (Jul 27, 2012) Full Article
Core consumer prices in Japan dipped 0.2 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday. That missed forecasts for a flat reading following the 0.1 percent contraction in May. (Jul 27, 2012) Full Article
China's industrial firms reported a decline in their profits for the third month in a row as slowing economy dampened demand, the latest figures from the National Bureau of Statistics revealed Friday. (Jul 27, 2012) Full Article
French consumer sentiment deteriorated for the second straight month in July as households turned more skeptic about future economic and labor market conditions. (Jul 27, 2012) Full Article
The unemployment rate in Spain climbed to a new record high in the second quarter of 2012 as recession and stringent austerity measures forced firms to shed more jobs. (Jul 27, 2012) Full Article
Italy's borrowing cost declined at its short-term bill auction on Friday after the European Central Bank chief vowed to take whatever action needed to protect euro. (Jul 27, 2012) Full Article
Commodities
The price of gold was firm near its monthly high Friday morning as the dollar was trading mixed ahead of economic growth data. (Jul 27, 2012) Full Article
The price of crude oil was ticking higher Friday morning as traders await cues from today's economic data. (Jul 27, 2012) Full Article
Political News
The United State says that Iran is not only not neutral in the Syrian conflict, but also an actor in the side of the Assad regime, which is "extremely dangerous." (Jul 27, 2012) Full Article
Japan's Economy, Trade and Industry Minister Yukio Edano on Friday called for restraint in restarting nuclear power plants in the country. (Jul 27, 2012) Full Article
Currency Alerts
The Chinese yuan advanced to a 4-day high of 6.3787 against the US dollar on Friday morning in New York as the ECB President Mario Draghi's euro supportive comments on Thursday spurred risk-appetite. (Jul 27, 2012) Full Article
The Australian and New Zealand dollars edged higher against their major opponents on Friday morning in Asia (Jul 27, 2012) Full Article
General News
In the light of escalated violence in the vicinity of several historic urban areas in Syria, the head of the United Nations agency tasked with safeguarding the world's cultural heritage has reiterated her appeal for all parties in the Syrian conflict to protect the Middle East country's cultural heritage. (Jul 27, 2012) Full Article
Chief of the U.S. Cyber Command says the United States is not adequately prepared for a serious cyber attack. (Jul 27, 2012) Full Article
Uranium resources and production are on the rise with the security of uranium supply ensured for the long term, according to a new report by the OECD Nuclear Energy Agency (NEA) and the International Atomic Energy Agency (IAEA). (Jul 27, 2012) Full Article
While there may be some extremists among the Syrian rebels, al-Qaeda is not establishing a strong footprint in that Arab country, says the Pentagon. (Jul 27, 2012) Full Article
Two service-members of the NATO-led International Security Assistance Force (ISAF) were killed in an improvised explosive device (IED) attack in Afghanistan's south on Thursday, raising the number of foreign casualties this year in the country to 260. (Jul 27, 2012) Full Article
Stocks To Watch
This railcar seller stock comes on our radar after it reported strong quarterly results and boosted its fiscal 2012 financial forecast. (Jul 27, 2012) Full Article
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