Economic News November 27, 2012
Mark Carney, currently the head of Canada's central bank, has been appointed as the new Governor of the Bank of England on Monday. He will succeed Mervyn King, who steps down next June. (Nov 27, 2012) Full Article
Germany's import price inflation slowed to 1.5 percent annually in October, the Federal Statistical Office said Tuesday. Economists had forecast the annual rate to remain unchanged at 1.8 percent. (Nov 27, 2012) Full Article
Sentiment among French consumers remained unchanged in November, the latest report from statistical office Insee showed Tuesday. (Nov 27, 2012) Full Article
Hong Kong exports fell unexpectedly in October, data released by the Census and Statistics Department showed Tuesday. (Nov 27, 2012) Full Article
An indicator of British service sector output declined in September compared to the previous month, data from the Office for National Statistics showed Tuesday. (Nov 27, 2012) Full Article
New orders for U.S. manufactured durable goods came in essentially unchanged in the month of October, according to a report released by the Commerce Department on Tuesday, with a drop in orders for transportation equipment offsetting strength in other sectors. (Nov 27, 2012) Full Article
Forex Top Story
New Zealand posted a seasonally adjusted merchandise trade deficit of NZ$718 million in October, Statistics New Zealand said on Tuesday - representing 21 percent of exports. (Nov 27, 2012) Full Article
The Eurozone and the International Monetary Fund reached agreement on a new bailout program for financially strapped Greece. (Nov 27, 2012) Full Article
International Monetary Fund Chief Christine Lagarde said the Fund would release its share of Greek loan payments after Eurozone delivers on its commitments made at the latest Eurogroup meeting on Monday. (Nov 27, 2012) Full Article
China's industrial profits recorded strong gains in October, adding to evidence that the economy is beginning to recover after seven quarters of slowing growth. The net profits of Chinese industrial firms grew 20.5 percent year-on-year to CNY 500.1 billion in October, the National Bureau of Statistics said Tuesday. (Nov 27, 2012) Full Article
The U.K. economy exited double-dip recession as previously expected in the third quarter, as the nation gained widespread support from spending and investment. The Olympic games was a major factor behind the recovery that was hard hit by the government's fiscal consolidation and weak global demand. (Nov 27, 2012) Full Article
The Organization for Economic Co-operation and Development, or OECD, trimmed its global growth forecast as the recovery is expected to be uneven over the coming two years largely due to the serious threat posed by the euro area crisis. (Nov 27, 2012) Full Article
Commodities
The price of gold was ticking lower Tuesday morning as traders now shifted their focus to US fiscal cliff, with the US dollar trading steady versus a basket of currencies. (Nov 27, 2012) Full Article
The price of crude oil was moving higher Tuesday morning after euro zone ministers and the International Monetary Fund reached an agreement to help reduce Greece's debt. (Nov 27, 2012) Full Article
Political News
Egyptian President Mohammed Mursi has held talks with the country's senior judges in an apparent effort to defuse the crisis triggered by his controversial constitutional decree that gave him sweeping powers, it was announced late on Monday. (Nov 27, 2012) Full Article
European Union Foreign Policy chief Catherine Ashton on Monday reiterated the European bloc's continued support to Georgia and welcomed the peaceful transfer of power that followed the recent parliamentary elections in the former Soviet Republic. (Nov 27, 2012) Full Article
Three young Tibetans have self-immolated in China in the past 48 hours to protest against Chinese rule in the autonomous Tibetan region, a rights group said late on Monday. (Nov 27, 2012) Full Article
Currency Alerts
The Australian dollar firmed against most major currencies in early Asian deals on Tuesday as sentiment improved after Eurozone finance ministers reached agreement on a new bailout program for debt-ridden Greece. (Nov 27, 2012) Full Article
In the Asian session on Tuesday, the Japanese yen retraced from early gains and dropped against other major currencies as Eurozone finance ministers entered into agreement for the much awaited Greek bailout program, reducing demand for safe-haven assets. (Nov 27, 2012) Full Article
The euro pared its Asian session advance in early deals Tuesday as risk-rally fizzled (Nov 27, 2012) Full Article
The pound strengthened against the euro and the Swiss franc in early deals Tuesday (Nov 27, 2012) Full Article
General News
A major police base in the Nigerian capital Abuja was attacked by unidentified gunmen on Monday and freed some of the prisoners being held there, media reports citing local officials said. (Nov 27, 2012) Full Article
U.N. Secretary-General Ban Ki-moon has congratulated Sierra Leone President Ernest Bai Koroma on his re-election in the recent elections, and urged all political leaders in the West African nation to maintain calm and work towards unity and reconciliation. (Nov 27, 2012) Full Article
The U.S. Navy has cracked its whip again on its sailors stationed in Japan by banning them from night drinking after a series of alcohol-induced incidents involving American soldiers enraged the Japanese people, Media reports from Tokyo said. (Nov 27, 2012) Full Article
Remains of the late Palestinian leader Yasser Arafat have been exhumed from a limestone tomb in the West Bank city of Ramallah by international experts as part of an investigation into allegations that he was poisoned, media reports citing Palestinian officials said on Tuesday. (Nov 27, 2012) Full Article
NATO Secretary-General Anders Fogh Rasmussen has said that he believes Afghan security forces are capable of handling Afghanistan's security responsibilities by themselves after the planned withdrawal of foreign coalition forces from the country by the end of 2014. (Nov 27, 2012) Full Article
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