Economic News November 21, 2012
A leading index of Australia's economic activity recorded above-trend growth for a second consecutive month in September, survey by Westpac and the Melbourne Institute showed Wednesday. (Nov 21, 2012) Full Article
Japan's exports and industrial production will likely continue to decrease for the time being, while the overall economic activity is expected to remain relatively weak, the Bank of Japan said in the latest monthly report published Wednesday. (Nov 21, 2012) Full Article
Switzerland's broad money supply aggregate expanded at a slower pace in October, the latest figures from the Swiss National Bank revealed Wednesday. (Nov 21, 2012) Full Article
The U.K.'s public sector net borrowing (PSNB), excluding the temporary effects of financial interventions, rose to GBP 8.6 billion in October from GBP 5.9 billion a year ago, reports said citing data published by the Office for National Statistics on Wednesday. (Nov 21, 2012) Full Article
The Organization for Economic Cooperation and Development (OECD) area recorded steady economic growth in the third quarter, but the pattern across member countries continued to be divergent, preliminary data showed Wednesday. (Nov 21, 2012) Full Article
First-time claims for U.S. unemployment benefits showed a notable decrease in the week ended November 17th, according to a report released by the Labor Department on Wednesday, although the data continued to reflect distortions due to Hurricane Sandy. (Nov 21, 2012) Full Article
Forex Top Story
Japan posted a merchandise trade deficit of 549.0 billion yen in October, the Ministry of Finance said on Wednesday, reflecting the results of slowing exports to China in a territorial island dispute. (Nov 21, 2012) Full Article
Eurozone finance ministers on Tuesday failed to strike a deal on Greece, delaying further the approval of the much-awaited EUR 31.5 billion-loan installment despite fears that the country will run out of cash this month. The Eurogroup will meet again on November 26 to complete "further technical work on some elements of this package," Eurogroup President Jean-Claude Juncker said. (Nov 21, 2012) Full Article
A leading indicator of economic activity in China rose at a faster pace in October, suggesting that a moderate rebound is underway, a report from the Conference Board showed Wednesday. The leading index rose 1.5 percent month-on-month in October to 245.5, following a 0.2 percent increase in September. Five of the six components contributed positively to the index in October. (Nov 21, 2012) Full Article
Bank of England policymakers decided to retain quantitative easing at GBP 375 billion through a split vote early November, as David Miles sought an increase of GBP 25 billion citing the slackness in the economy, while all other eight members assessed the current size as appropriate. (Nov 21, 2012) Full Article
Commodities
The price of gold was steady around $1,725 Wednesday morning as traders focus on Middle-East tensions and US fiscal cliff talks. (Nov 21, 2012) Full Article
The price of crude oil was recovering from its previous session's steep fall Wednesday morning as trader await cues from the official inventories data from the EIA, due out later during the sessions. (Nov 21, 2012) Full Article
Political News
The stage is set for yet another European Union summit, with the European Council President Herman Van Rompuy calling on leaders for a concerted effort to "lift Europe out of the crisis." (Nov 21, 2012) Full Article
Currency Alerts
The Japanese yen extended previous sessions' selling spree in early Asian deals Wednesday (Nov 21, 2012) Full Article
The euro edged lower against its major rivals on Wednesday in Asia following reports that showed the euro zone finance ministers deferred decision on the next tranche of loans to Greece. (Nov 21, 2012) Full Article
The yen recouped early Asian session losses across the board in late trading Wednesday on increasing safe-haven flows into it following reports that the euro zone finance ministers deferred their decision to Monday on the next tranche of loans to Greece. (Nov 21, 2012) Full Article
In the early European session on Wednesday, the Swiss franc climbed against other major currencies after German Chancellor Angela Merkel's comments that raising EFSF guarantees and lowering interest rates could fill Greece's debt financing gap. (Nov 21, 2012) Full Article
General News
The concentration of greenhouse gases like carbon dioxide, methane and nitrous oxide in the atmosphere, responsible for global warming, reached a new record high in 2011, according to an annual bulletin released Tuesday by the World Meteorological Organization. (Nov 21, 2012) Full Article
Mohammad Ajmal Amir Kasab, the lone surviving Pakistani gunman captured during the terror attacks in the western Indian city of Mumbai that killed 166 people and injured 300 others nearly four years ago, was hanged to death on Wednesday. (Nov 21, 2012) Full Article
Afghan and coalition security forces killed Taliban leader Saifullah during a security operation in Ghazni province on Tuesday. (Nov 21, 2012) Full Article
A more than 50 per cent drop in new HIV infections has been achieved across 25 low- and middle-income countries as they approach the 1000 day deadline to achieve global AIDS targets, says a new United Nations report, which shows that unprecedented acceleration in the AIDS response is producing results. (Nov 21, 2012) Full Article
At least 16 people were injured, some of them seriously, in an explosion on a bus near military headquarters in Tel Aviv on Wednesday. (Nov 21, 2012) Full Article
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