Economic News October 18, 2012
House prices increased in fewer cities in China in September than a month ago, indicating a moderation in price growth amid the government's decision to maintain tight curbs on real estate market activities. (Oct 18, 2012) Full Article
Switzerland's merchandise exports decreased notably from last year in September, data released by the Swiss Federal Customs Administration showed Thursday. (Oct 18, 2012) Full Article
German Chancellor Angela Merkel has proposed giving stronger powers to the European Union to intervene in national budgets while suggesting creation of a new fund to finance ailing European economies, reports said Thursday. (Oct 18, 2012) Full Article
Turkey's central bank on Thursday lowered its overnight lending rate for the second successive time as economic growth eased further amid weak domestic demand and inflation pressures increased. (Oct 18, 2012) Full Article
After unexpectedly falling to a four-year low in the previous week, first-time claims for U.S. unemployment benefits rebounded by more than expected in the week ended October 13th. (Oct 18, 2012) Full Article
Forex Top Story
The Chinese economy cooled further in the third quarter, extending the slowdown to seven quarters while faster-than-expected growth in industrial production and retail sales signaled a moderate pick up in economic activity at the end of the three-month period. (Oct 18, 2012) Full Article
Citing Cyprus's failure to clinch a timely deal with the troika after officially requesting European financial support in June, Standard and Poor's on Thursday downgraded the nation's credit rating deeper into junk status. (Oct 18, 2012) Full Article
U.K. retail sales growth exceeded economists' forecast in September on healthy clothing and school uniform sales, boosting hopes of recovery in the third quarter. (Oct 18, 2012) Full Article
Spain sold more government bonds than its maximum target on Thursday at lower cost, ahead of European Union leaders gathering for a two-day summit in Brussels. (Oct 18, 2012) Full Article
Commodities
The price of gold was ticking lower Thursday morning as traders were cautious ahead of the outcome of the two-day summit of the EU leaders at Brussels, beginning today. (Oct 18, 2012) Full Article
The price of crude oil was little changed Thursday morning as traders digest economic growth data out of China, the second largest energy consuming nation and inventories data from the U.S., the world's largest economy. (Oct 18, 2012) Full Article
Political News
The United States has held its first Human Rights Dialogue with the Myanmar government, and termed it as "very positive." (Oct 18, 2012) Full Article
NATO will stick to its goal, strategy and timeline to hand over full security responsibility to Afghan forces by the end of 2014, Secretary-General Anders Fogh Rasmussen said on Thursday during a visit to Afghanistan. (Oct 18, 2012) Full Article
The Russian government has approved a draft law that seeks to ban smoking at public places from 2015, Russian media reported. (Oct 18, 2012) Full Article
Currency Alerts
The Australian dollar advanced against other major currencies in the Asian session on Thursday as stocks advanced after China GDP data came in line with expectations and positive economic data from the United States. (Oct 18, 2012) Full Article
The pound firmed against other major currencies in the early European session on Thursday following the release of country's strong retail sales data for September. (Oct 18, 2012) Full Article
The yen was a clear underperformer among major currencies in early deals Thursday (Oct 18, 2012) Full Article
General News
Australia and India have agreed to start negotiations on a nuclear safeguards agreement that seeks to resume uranium export to India. (Oct 18, 2012) Full Article
Japanese researchers have installed a large radar systems in the sea off Wakayama prefecture in the country's west to monitor tsunami generation at an early stage. (Oct 18, 2012) Full Article
The tenth Annual Education for All Global Monitoring Report shows that 12 percent of young people are dropping out of secondary schools in New York, and are left without vital foundation skills for work. This constitutes one fifth of young people aged 17-24 years being out of school and unemployed. (Oct 18, 2012) Full Article
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