Economic News November 15, 2012
The Dutch economy contracted at a faster rate than economists expected in the third quarter, reversing the previous quarter's modest growth, preliminary data released by the Central Bureau of Statistics showed Thursday. (Nov 15, 2012) Full Article
Inflation in the euro area weakened in October as estimated earlier, final data released by statistical office Eurostat showed Thursday. (Nov 15, 2012) Full Article
Spain should urgently seek an emergency aid, European Central Bank Governing Council member Luc Coene was quoted as saying by Belgian daily De Standaard on Thursday. (Nov 15, 2012) Full Article
With the data reflecting the impact of the major disruptions caused by Hurricane Sandy, the Labor Department released a report Thursday morning showing that initial jobless claims rose by much more than anticipated in the week ended November 10th. (Nov 15, 2012) Full Article
Consumer prices in the U.S. saw a modest increase in the month of October, according to a report released by the Labor Department on Thursday, with the price growth matching economist estimates. (Nov 15, 2012) Full Article
Conditions for New York manufacturers declined at a modest pace in the month of November, the Federal Reserve Bank of New York revealed in a report on Thursday, with the general business conditions index remaining negative for the fourth consecutive month. (Nov 15, 2012) Full Article
Forex Top Story
Moody's Investors Service on Wednesday said it will revisit the U.K.'s AAA government debt rating and the current 'negative' outlook next year in the face of gloomier economic prospects and rising risks from euro area crisis. (Nov 15, 2012) Full Article
Improved external demand and household consumption supported a modest recovery by both Germany and France in the third quarter, although the overall economic situation in the entire Eurozone remains bleak. The German gross domestic product grew 0.2 percent quarter-on-quarter in the third quarter, the Federal Statistical Office said Thursday. (Nov 15, 2012) Full Article
Despite expansions in Germany and France, the euro area officially slipped into a recession in the third quarter as governments across member nations unfold tough austerity measures in the face of widespread protests. (Nov 15, 2012) Full Article
U.K. retail sales eased more-than-expected in October, reflecting weak demand for food and clothing ahead of the Christmas shopping season. Sales volume that include automotive fuel declined 0.8 percent month-on-month in October, reversing the previous month's 0.5 percent rise, the Office for National Statistics reported Thursday. (Nov 15, 2012) Full Article
Commodities
The demand for gold was steady in the third quarter 2012, largely due to requirements from Exchange Traded Funds and central banks, according to the World Gold Council. (Nov 15, 2012) Full Article
The price of gold was moving lower Thursday morning as the US dollar was steady versus a basket of currencies ahead of inflation data. (Nov 15, 2012) Full Article
The price of crude oil was little changed Thursday morning as traders await cues from the official inventories data from the EIA, due out later today. (Nov 15, 2012) Full Article
Political News
China's Communist Party has elected Vice-President Xi Jinping as its new General Secretary, and a new generation of leaders who will rule the country in the next decade. (Nov 15, 2012) Full Article
In the wake of the deaths of a dozen Palestinians in a wave of Israeli air strikes on Gaza Strip on Wednesday, U.S. President Barack Obama urged Israeli Prime Minister Benjamin Netanyahu to make every effort to avoid civilian casualties, and called upon Gaza militant group Hamas to stop the attacks on Israel and allow the situation to de-escalate. (Nov 15, 2012) Full Article
The Chairman of the U.S. Joint Chiefs of Staff has said he retains "absolute confidence" in Marine Gen. John Allen's ability to command NATO's International Security Assistance Force (ISAF) in Afghanistan despite facing an internal inquiry. (Nov 15, 2012) Full Article
Three Israelis were killed and three others injured as rockets fired from Gaza slammed a four-storey building in the southern Israeli town of Kiryat Malahi on Thursday, as the Palestinian militant outfit Hamas retaliated to the killing of its military commander Ahmed Said Khalil al-Jabari and 12 others in Israeli missile attacks on Wednesday. (Nov 15, 2012) Full Article
Currency Alerts
The Australian dollar edged lower on Thursday in Asia as majority of Asia-pacific equity markets are trading in negative territory (Nov 15, 2012) Full Article
In the early European session on Thursday, the pound declined against most major opponents after the release of weaker than expected U.K. retail sales data in October. (Nov 15, 2012) Full Article
The euro climbed against other major currencies on Thursday as better-than-expected gross domestic product data from Germany, France and Italy prompted investors to seek the European currency. (Nov 15, 2012) Full Article
Forex Commentary
The yen fell across the board on Thursday, as Japanese opposition leader Shinzo Abe called for unlimited monetary easing to counter deflation. (Nov 15, 2012) Full Article
General News
U.S. Secretary of State Hillary Clinton on Wednesday announced $30 million in additional humanitarian assistance to help those affected by the conflict in Syria. (Nov 15, 2012) Full Article
"The United Nations system failed to meet its responsibilities," Secretary-General Ban Ki-moon said on Wednesday as he released a U.N. report looking into the world body's actions during the final months of the 2009 war in Sri Lanka and its aftermath. (Nov 15, 2012) Full Article
The U.N. Security Council (UNSC) on Wednesday extended for another year the mandate of the European peacekeepers tasked with ensuring the continued compliance by all sides with the 1995 Dayton Peace Agreement that ended fighting in Bosnia and Herzegovina. (Nov 15, 2012) Full Article
Human Rights Watch (HRW) and the Center for International Environmental Law (CIEL) on Thursday urged the World Bank to incorporate human rights in its revised policies as a key component of fulfilling its mission to eradicate poverty. (Nov 15, 2012) Full Article
The European Commission on Thursday launched a blueprint to safeguard Europe's water resources, a strategy for ensuring that enough good quality water is available to meet the needs of people, the economy and the environment. (Nov 15, 2012) Full Article
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