Economic News September 5, 2012
The Bank of Thailand decided to leave key rate unchanged as expected by economists, but through a split vote. (Sep 5, 2012) Full Article
Eurozone's private sector contracted more than initially estimated in August, adding to concerns that the economy is on course to fall back into technical recession in the third quarter, data from a survey by Matkit Economics showed Wednesday. (Sep 5, 2012) Full Article
The number of persons singing-up for job-seekers' allowance in Ireland decreased in August, after rising for three successive months, data from the Central Statistics Office showed Wednesday. (Sep 5, 2012) Full Article
The medium-term risk to financial stability has been building up largely due to strong momentum in the mortgage and real estate markets, Swiss National Bank Vice Chairman Jean-Pierre Danthine said Wednesday. (Sep 5, 2012) Full Article
Labor productivity in the U.S. increased by much more than previously estimated in the second quarter, according to a report released by the Labor Department on Wednesday, with the report also showing a smaller than previously estimated increase in labor costs. (Sep 5, 2012) Full Article
Forex Top Story
Retail sales in the UK declined in August as the Olympics failed to spur spending, particula
The gross domestic product in Australia was up a seasonally adjusted 0.6 percent on quarter in the second quarter of 2012, the Australian Bureau of Statistics said on Wednesday. (Sep 5, 2012) Full Article
Shop price inflation in the UK rose marginally in August, while food price inflation remained at its lowest level in nearly two years, a report from the British Retail Consortium (BRC) showed Wednesday. (Sep 5, 2012) Full Article
China's service sector activity slowed to its weakest level in a year in August, mainly due to weak growth in new order volumes, a report from Markit Economics revealed Wednesday. (Sep 5, 2012) Full Article
Retail sales volume in Eurozone declined in July after showing some improvement in the past two months as the debt crisis in the region continued to weigh on consumers' ability to spend. (Sep 5, 2012) Full Article
Bank of England policymakers are set to hold fire on quantitative easing and interest rate as officials continue to assess the impact of bond purchases and the lending facility on economic activity. Given the weak economic condition, the case for more stimulus is seen in the pipeline. (Sep 5, 2012) Full Article
The European Central Bank on Thursday is widely expected to announce measures to battle the sovereign debt crisis that has plagued the euro area, which could include buying bonds of peripheral governments as indicated by the bank's President Mario Draghi last month. The central bank of 17 nations may also cut the refinancing rate, which is currently at 0.75 percent, while the deposit rate that is already at zero is likely to be left unchanged. (Sep 5, 2012) Full Article
Commodities
The price of gold was easing from its six-month high Wednesday morning as traders await a key meeting of the European Central Bank this week. (Sep 5, 2012) Full Article
The price of crude oil was moving lower Wednesday morning as traders were cautious ahead of the European Central Bank's policy meeting Thursday. (Sep 5, 2012) Full Article
Political News
U.N.-Arab League new special representative on Syrian crisis Lakhdar Brahimi on Tuesday warned of steadily deteriorating situation in Syria, noting that the destruction and humanitarian suffering caused by the ongoing conflict has reached "staggering" levels. (Sep 5, 2012) Full Article
U.S. Secretary of State Hillary Clinton held talks with Chinese President Hu Jintao in Beijing on Wednesday, with the two leaders pledging to improve bilateral relations despite some obvious differences on several issues. (Sep 5, 2012) Full Article
Colombia's President Juan Manuel Santos announced on Tuesday that the currently stalled peace talks between his government and the Leftist FARC rebels would resume after a gap of ten years in Norway next month. (Sep 5, 2012) Full Article
One person has been killed and another injured after a gunman opened fire at an election victory rally organized by a separatist party in the Canadian province of Quebec, media reports citing officials said late on Tuesday. (Sep 5, 2012) Full Article
An article in the Washington Post describing Indian Prime Minister Manmohan Singh as "a dithering, ineffectual bureaucrat presiding over a deeply corrupt government" evoked protest by the ruling Congress party, which sought an apology from the U.S. daily. (Sep 5, 2012) Full Article
Currency Alerts
The New Zealand dollar edged higher against its major opponents on Wednesday morning in Asia despite a fall in Asia-pacific equities. (Sep 5, 2012) Full Article
The Australian dollar lost ground on Wednesday morning in Asia following a report showed that the nation's economy grew at a slower than expected rate in the three months to June. (Sep 5, 2012) Full Article
The Japanese yen climbed against other major currencies in late Asian deals on Wednesday as investors purchased safe-haven assets amid worries about the global economy. (Sep 5, 2012) Full Article
The euro was the clear underperformer among major currencies on Wednesday (Sep 5, 2012) Full Article
General News
At least 25 civilians have been killed when a suicide-bomber attacked a funeral procession in Afghanistan's eastern Nangarhar province on Tuesday, media reports said citing local officials. (Sep 5, 2012) Full Article
At least 42 people have been killed and more than 24 injured after a passenger bus plunged into a ravine in the Atlas Mountains of southern Morocco, media reports citing local officials said late on Tuesday. (Sep 5, 2012) Full Article
Following on the recent U.S. government meetings on economic assistance to Cairo, on September 8 Deputy Secretary of State Thomas Nides will join the U.S. Chamber of Commerce and more than 100 U.S. company executives as part of a delegation to promote private-sector development in Egypt. (Sep 5, 2012) Full Article
At least 31 people were killed and dozens suffered burn injuries in a massive fire that broke out in a fireworks factory in the southern Indian state of Tamil Nadu on Wednesday. (Sep 5, 2012) Full Article
Mexican Navy has captured Mario Cardenas Guillen, suspected leader of a faction of the dreaded Gulf Cartel, in a raid carried out in the country's north, it was announced late on Tuesday. (Sep 5, 2012) Full Article
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