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Forex and Economic News
- Wed, 22 Feb 2012 22:36:36 +0700
U.S. Existing Home Sales Jump To Twenty-Month High In January
Existing home sales in the U.S. showed a notable increase in the month of January, according to a report released by the National Association of Realtors on Wednesday, although the report also showed a significant downward revision to the data for December. The report showed that existing home sales rose 4.3 percent to an annual rate of 4.57 million in January from a downwardly revised 4.38 million unit rate in December.
- Wed, 22 Feb 2012 22:12:13 +0700
U.S. Existing Home Sales Rise To 4.57 Mln In January
Existing home sales in the U.S. showed a notable increase in the month of January, according to a report released by the National Association of Realtors on Wednesday, although the report also showed a significant downward revision to the data for December.
- Wed, 22 Feb 2012 19:21:52 +0700
Fitch Cuts Greece Ratings; Says Default 'Highly Likely' In Near Term
Fitch Ratings downgraded Greece's credit rating on Wednesday following yesterday's Eurozone agreement on a second bailout for the country and said a default is highly likely in the near term.
- Wed, 22 Feb 2012 18:54:27 +0700
Bank Of England Policymakers Split 7-2 On GBP50 Bln QE Boost
Bank of England's Monetary Policy Committee (MPC) decided to lift the asset purchase programme by GBP 50 billion in February through a split vote as two members called for larger stimulus, the minutes of the meeting showed Wednesday.
- Wed, 22 Feb 2012 18:42:54 +0700
Germany Raises EUR4.282 Bln From Debt Sale
Germany raised nearly the target amount at the sale of its two-year Federal Treasury notes on Wednesday.
- Wed, 22 Feb 2012 17:19:29 +0700
Eurozone Private Sector Contracts Unexpectedly In February
Eurozone private sector business activity unexpectedly slipped back to contraction in February, fueling concerns that the economy may be sliding into a recession amid the region's prolonged debt crisis. The composite output index fell to 49.7 in February from 50.4 in January. Economists expected the index to remain almost steady at 50.5. An index reading below 50 indicates contraction in activity. Nonetheless, the composite index was the second-highest in six months.
- Wed, 22 Feb 2012 15:11:49 +0700
India's GDP Growth Likely To Rise To 7.5%-8% In FY 2012-13
India's economy is likely to expand in the range of 7.5 percent to 8 percent in the financial year ending March 2013, Chakravarthy Rangarajan, Chairman of Economic Advisory Council to the Prime Minister said Wednesday.
- Wed, 22 Feb 2012 11:44:05 +0700
China Manufacturing Sector Contracts For Fourth Month
China's factory activity shrank for a fourth consecutive month in February, as weak domestic demand as well as external weakness added downside risks to growth, a survey by Markit Economics revealed Wednesday.
- Wed, 22 Feb 2012 11:35:55 +0700
Australia Westpac Leading Index Signals Sub-Par Growth
An indicator of Australian economic activity pointed to sub-par growth for the economy for the three to nine months into the future, while at the same time brushing aside concerns about a sharp slowdown.
- Wed, 22 Feb 2012 05:31:19 +0700
Taiwan GDP Due On Wednesday
Taiwan is on Wednesday scheduled to release final Q4 numbers for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GDP is expected to remain unchanged from last month's preliminary reading for a 1.9 percent increase on year.
- Tue, 21 Feb 2012 20:29:43 +0700
Spain Yields Plummet, EFSF Bills Meet Strong Demand After Greek Bailout Deal
Spain saw its borrowing costs decline significantly on Tuesday in the first debt auction held by a Eurozone country after leaders agreed a deal for a second bailout for Greece. The Eurozone bailout fund also held a successful auction during the day, with strong demand for the debt.
- Tue, 21 Feb 2012 18:42:58 +0700
U.K. January Public Finances Improve Markedly
U.K.'s public finances improved more than expected in January, logging the highest monthly budget surplus since 2008.
- Tue, 21 Feb 2012 17:35:27 +0700
Strengthening Continues Precluding Stimulatory Props
Greece finally managed to secure the Eurogroup approval for the long pending second round of stimulus package, putting to end doubts and apprehensions concerning a disorderly default. The markets, which have been trading up in anticipation of the deal, seem to have taken it up with equanimity and poise rather than showing irrational exuberance. After all, they are very much aware of the face there could be more stumbling blocks before the Mediterranean nation can return back to fiscal health.
- Tue, 21 Feb 2012 17:32:04 +0700
India's Jan CPI Inflation Rate At 7.65%
India's first-ever annual inflation rate, based on all India general Consumer Price Index, or CPI, as per base year 2010, for January stood at 7.65 percent as per the first nation-wide retail inflation data released by the Ministry of Statistics & Program Implementation on Tuesday.
- Tue, 21 Feb 2012 12:14:49 +0700
Eurozone Reaches Deal On Greek Bailout
Eurozone Finance Ministers early Tuesday gave a green signal to a second rescue package for Greece, unlocking a 130 billion euros bailout money for the cash-strapped euro member. Ensuring debt sustainability and restoring competiveness are the main goals of the new program, the Eurogroup said. The meeting also agreed on a debt reduction target of 120.5 percent of GDP by 2020, instead of the previous 120 percent.
- Tue, 21 Feb 2012 05:31:20 +0700
RBA Minutes On Tap For Tuesday
The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy board meeting on February 7, highlighting a light day for Asia-Pacific economic news. At the meeting, the board decided to keep its benchmark cash rate unchanged at 4.25 percent against economists' expectations for a quarter-point reduction.
- Mon, 20 Feb 2012 21:09:28 +0700
Belgium Consumer Confidence Lowest Since April 2009
Consumer confidence in Belgium dropped for the second consecutive month to its lowest level nearly three years in February, data released by the National Bank of Belgium showed Monday.
- Mon, 20 Feb 2012 17:47:26 +0700
French Business Confidence Remains Stable
French business confidence stabilized in February at a level last seen since March 2010, as improvement in production expectations was offset by worsening export orders and past production.
- Mon, 20 Feb 2012 14:38:53 +0700
Finland Inflation Accelerates In January
Finland's inflation accelerated in January, reversing its declining trend in the previous five months, data from Statistics Finland showed Monday.
- Mon, 20 Feb 2012 14:14:42 +0700
Thai Economy Contracts In Q4 Amid Floods; Govt. Ups 2012 Forecast
Thailand's economy contracted more than expected in the fourth quarter as widespread floods during the period severely affected industrial production and investment.
