Economic News July 19, 2012
Swiss trade surplus improved markedly in the second quarter, the latest figures from the Federal Customs Administrations showed Thursday. (Jul 19, 2012) Full Article
U.K. car manufacturing grew 14.1 percent in the first half of the year despite a slight fall in June production, the Society of Motor Manufacturers and Traders reported Thursday. (Jul 19, 2012) Full Article
Stock of lending to British businesses contracted in May as loans to small and medium-sized enterprises declined, a report from the Bank of England showed Thursday. (Jul 19, 2012) Full Article
Japanese firms' loan demand will likely improve in the third quarter after weakening in the second quarter, senior loan officer opinion survey conducted by the Bank of Japan showed Thursday. (Jul 19, 2012) Full Article
Norwegian banks are expected to tighten credit conditions for businesses in the third quarter, while maintaining credit terms for households broadly unchanged, Norges Bank's quarterly bank lending survey revealed Thursday. (Jul 19, 2012) Full Article
The Philippine government should make the country conducive for more investments by spending on infrastructure, education and health in order to cushion the impact of the global crisis and maintain the economy's resilience, while ensuring inclusive growth, a quarterly report released by the World Bank said Thursday. (Jul 19, 2012) Full Article
After reporting a notable drop in first time claims for U.S. unemployment benefits last week, the Labor Department released a report on Thursday showing that initial jobless claims rebounded by more than anticipated in the week ended July 14th. (Jul 19, 2012) Full Article
Forex Top Story
The crisis in euro area has reached a "critical stage" with the financial markets in parts of the region remaining under acute stress despite major policy actions, the International Monetary Fund said in a review of euro area policies. (Jul 19, 2012) Full Article
Developing Asian economies need more co-operation to counter the risks emanating from economic and financial integration, the Asian Development Bank (ADB) said in a report on Thursday. (Jul 19, 2012) Full Article
Business conditions in Australia weakened in the June quarter, partly reflecting weak demand both at home and abroad. (Jul 19, 2012) Full Article
U.K. retail sales increased at a slower-than-expected pace due to wet weather in June, while the Diamond Jubilee celebrations failed to boost spending, the Office for National Statistics said Thursday. (Jul 19, 2012) Full Article
Unemployment in Hong Kong remained unchanged in June as the labor market remained tight and in a state of full employment amid increasing uncertainties in the global economy, data from the latest labor force survey showed. (Jul 19, 2012) Full Article
Spain's cost of borrowing soared, while French yields declined at separate auctions on Thursday as investors dumped the peripheral nation's debt in their flight to the perceived safety of the French debt. The Spanish auction also revealed poor demand, suggesting that the respite provided by the government's latest round of austerity measures is short-lived. Eurozone finance ministers are set to meet on July 20 to finalize the EUR 100 billion Spanish bank bailout struck last month. (Jul 19, 2012) Full Article
Commodities
The price of gold was moving higher Thursday morning as the U.S. dollar was trading lower versus a basket of currencies ahead of weekly jobless claims data. (Jul 19, 2012) Full Article
The price of crude oil was steady above the $90-mark for the first time in seven weeks Thursday morning. (Jul 19, 2012) Full Article
Political News
Turkish President Abdullah Gül has called for a new administration in Syria that represents the will of the people. (Jul 19, 2012) Full Article
The White House has said that the killing of senior Syrian Defense officials in a bomb attack carried out by rebel forces in Damascus on Wednesday implies that the authority of President Bashar al-Assad's regime is steadily declining in the strife-torn Middle East nation. (Jul 19, 2012) Full Article
European Union Foreign Policy Chief Catherine Ashton has stressed that the 27-member European bloc will not recognize "presidential elections" scheduled for Thursday in the disputed territory of Nagorno-Karabakh. (Jul 19, 2012) Full Article
U.S. and British Defense Secretaries have vowed that the international community will ensure the Strait of Hormuz at the mouth of the Persian Gulf will remain open. (Jul 19, 2012) Full Article
NATO Secretary-General Anders Fogh Rasmussen has congratulated Libyans on participating in their country's first-ever free democratic elections held earlier this month, noting that the polls were part of an "an impressive step forward" in its political transition. (Jul 19, 2012) Full Article
Analyst Currency Comments
Bank of New Zealand said on Thursday that it expects the euro to weaken further against the New Zealand dollar on deepening worries about the Eurozone growth outlook. The bank expects the kiwi dollar to reach 70 cents against the euro. (Jul 19, 2012) Full Article
Currency Alerts
The Australian dollar climbed to a fresh record high against the euro in early Asian trading on Thursday as investors bought high-yielding assets in response to positive U.S. economic data and strong corporate earnings from U.S. companies. (Jul 19, 2012) Full Article
The U.S. dollar extended its New York session's decline against other major currencies in early Asian trading on Thursday amid improved market sentiment. (Jul 19, 2012) Full Article
The yen rose against most major currencies in Asian trading on Thursday despite an upbeat market sentiment. (Jul 19, 2012) Full Article
General News
The United States has expressed concern over recent reports that Kurdish activist Mohammed Seddigh Kaboudvand and human rights defender Nargess Mohammadi are suffering from rapidly deteriorating health in Iranian prison. (Jul 19, 2012) Full Article
South Korean prosecutors have secured a warrant for the arrest of an active duty U.S. soldier suspected of smuggling drugs into the country and plan to indict him next week. (Jul 19, 2012) Full Article
At least 24 people have died after a Tanzanian ferry with more than 280 people on board capsized in the Indian Ocean off the coast of Zanzibar, it was reported late on Wednesday. (Jul 19, 2012) Full Article
Yemen has arrested several members of an Iranian-led spy ring that has been operating in the country for several years, the Interior Ministry said on Wednesday. (Jul 19, 2012) Full Article
British Defense Secretary Philip Hammond will take the first international delivery of a U.S.-made F-35 Joint Strike Fighter at Fort Worth, Texas, on Thursday. (Jul 19, 2012) Full Article
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