Economic News August 23, 2012
China's leading index improved in July, reflecting a strong increase in loans, the Conference Board said Thursday. (Aug 23, 2012) Full Article
Switzerland's merchandise trade surplus increased markedly in July, data released by the Federal Customs Administrations showed Thursday. (Aug 23, 2012) Full Article
U.K. mortgage approvals increased more than expected in July, data from British Bankers Association showed Thursday. (Aug 23, 2012) Full Article
UK's high street sales decreased modestly in August, contrary to economists' forecast for an increase, data from a survey by the Confederation of British Industry (CBI) showed Thursday. However, retailers expect sales to rise slightly in September. (Aug 23, 2012) Full Article
Germany's Finance Minister Wolfgang Schaeuble said on Thursday that allowing more time to Greece to implement economic reforms is unlikely to solve the country's problems. In an interview to SWR Radio, Schaeuble said,"More time is no solution to the problems." (Aug 23, 2012) Full Article
First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended August 18th, according to a report released by the Labor Department on Thursday. (Aug 23, 2012) Full Article
Forex Top Story
China's manufacturing sector contracted in August at the fastest pace in nine months suggesting that producers are struggling with strong global headwinds, a closely watched survey showed Thursday. (Aug 23, 2012) Full Article
Singapore's annual inflation slowed at a faster-than-expected pace in July, due to more moderate increases in costs of accommodation, private road transport and oil-related items, latest data showed Thursday. (Aug 23, 2012) Full Article
The German economy expanded for the second straight time during the quarter ended June as robust growth in exports and domestic spending offset contraction in investment, data from Destatis showed Thursday. (Aug 23, 2012)Full Article
Economic growth in Mainland Norway slowed in the second quarter, following a faster expansion in the first quarter, latest data showed. (Aug 23, 2012) Full Article
The Eurozone private sector contracted for the seventh successive month in August indicating that the economy is moving firmly into a recession. Output as well as new orders continued to shrink as a combination of austerity and financial market tension dampen both domestic and foreign demand. The composite output index rose marginally to 46.6 from 46.5 in July, flash estimate from Markit Economics showed Thursday. (Aug 23, 2012) Full Article
Commodities
The price of gold advanced to a four-month high Thursday morning as the U.S. dollar was moving lower after the minutes from the recent Federal Reserve meeting raised hopes for further stimulus measures. (Aug 23, 2012) Full Article
The price of crude oil was steady near $98 Thursday morning amid speculation that central banks will opt for further stimulus measures to support their sagging economies. (Aug 23, 2012) Full Article
Political News
Using the uniform for partisan politics erodes the trust the American people have in their military, says Gen. Martin E. Dempsey, Chairman of the U.S. Joint Chiefs of Staff. (Aug 23, 2012) Full Article
The governing Democratic Party of Japan (DPJ) has urged the government to restart the offline nuclear reactors after ensuring stricter safety measures so as to meet the po
Quickly responding to Egypt's request for a $4.8 billion loan, the International Monetary Fund (IMF) has announced that its technical team will be arriving in Cairo early next month to work with the authorities on their program and discuss possible forms of financial support from the global lender. (Aug 23, 2012) Full Article
The African Union (AU) and Senegal on Wednesday signed an agreement to set up a special court to try former Chadian dictator Hissène Habré. (Aug 23, 2012) Full Article
European Union Foreign Policy Chief Catherine Ashton is traveling to Pretoria to take part in the 11th Ministerial political dialogue between the EU and South Africa, which is mourning for 44 people killed in clashes at the Marikana platinum mine last week. (Aug 23, 2012) Full Article
Currency Alerts
The U.S. dollar declined against most major currencies in the Asian session on Thursday as traders sold the currency in reaction to minutes of the Fed's most recent policy meeting. (Aug 23, 2012) Full Article
The euro remained firmer against its major rivals in early European deals Thursday (Aug 23, 2012) Full Article
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