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Australia Construction Shrinks Again In November

Australia Construction Shrinks Again In November   Australia's construction industry contracted for the sixth consecutive month in November with activity continuing to fall across all sectors, a new survey showed on Tuesday. The Australian Industry Group Performance of Construction Index fell to 42.2 from 44.0 in October. A reading above 50 indicates expansion, while one below suggests contraction. Activity was weaker across the major sub-sectors, with the...

European Economic Preview: UK Factory Output Due

European Economic Preview: UK Factory Output Due   Factory output figures from the UK along with factory orders data from Germany are due on Tuesday, headlining a busy day for European economic news. All times in ET. Monday was light on major economic reports. Eurozone investor confidence dropped sharply in November, while Moody's downgraded Hungary's credit rating by two notches to Baa3 over the country's...

Manpower Survey: Hiring Plans Improve In Global Labor Market

Manpower Survey: Hiring Plans Improve In Global Labor Market Hiring intentions among U.S. employers remain modest but revealed the most optimistic first-quarter outlook in three years, the latest quarterly Employment Outlook Survey published by the employment services provider Manpower showed Tuesday. Data revealed improved hiring expectations from 12 months ago in 28 of 39 countries and territories. The survey found that job prospects continue to be strong across...

Estonian Inflation Jumps To 5.3% In November

Estonian Inflation Jumps To 5.3% In November   (forexfounders.com News) - Estonia's inflation increased strongly in November, data from Statistics Estonia showed Tuesday. The consumer price index, or CPI, rose 5.3% year-on-year, faster than 4.7% rise in October. The previous month's pace was the fastest in 22 months. In November, prices of food products jumped 10.4% and those of manufactured goods rose 2.8%. The CPI was largely led by...

Australia Interest Rates On Hold

Australia Interest Rates On Hold (forexfounders.com News) - Australia's central bank on Tuesday decided to maintain its benchmark interest rate unchanged at 4.75%, in line with expectations, as it assessed the impact of its preemptive rate rise last month. The Reserve Bank of Australia said November's surprise quarter percentage point hike in the cash rate, and the subsequent increases...

No More Rates Hike Expected ‚ÄĒ USDCAD Goes Up

No More Rates Hike Expected ‚ÄĒ USD/CAD Goes Up ¬† The¬†Canadian dollar fell today against its US counterpart on¬†the¬†speculation that the¬†Canadian central bank wouldn‚Äôt rise the¬†interest rates on¬†the¬†tomorrow‚Äôs meeting. The¬†euro was weakening today against other currencies, including the¬†Canadian dollar. The¬†Bank of¬†Canada kept the¬†interest rates unchanged, following the¬†three consecutive increases, because of¬†the¬†weaker economy of¬†the¬†US, the¬†main Canada‚Äôs trading partner. The¬†analysts don‚Äôt think that the¬†situation improved in¬†any ...

Yen Gains as China’s Economy Slows & Debt Crisis Threatens EU

Yen Gains as China’s Economy Slows & Debt Crisis Threatens EU   The Japanese yen gained today as the concerns about the European debt troubles intensified and China continues the attempts to slow its economy, increasing demand for the safer currencies. The finance ministers from the countries of the European Union are scheduled to meet today in order to formally approve the bailout package for Ireland, which was announced in the previous month. They also will discuss the outlook for Portugal. On the yesterday’s meeting the EU leaders were divided in their opinion...

Outlook for Interest Rates Weakens New Zealand Dollar Monday, December 06, 2010 3:08 PM

Outlook for Interest Rates Weakens New Zealand Dollar Monday, December 06, 2010 3:08 PM   The New Zealand dollar slipped today on the speculation that the New Zealand policy makers would refrain from increasing the interest rates because of the slower economic growth. The New Zealand budget deficit was NZ$7.45 billion ($5.7 billion) in the four months ended October 31st. That’s NZ$798 million more than was predicted in May. The deficit together with the slower household consumption and business borrowing decreases...

Euro Slips on Disagreement Between EU Policy Makers

Euro Slips on Disagreement Between EU Policy Makers Monday, December 06, 2010 3:36 PM ¬† The¬†euro slid today as¬†the¬†European policy makers were divided on¬†today‚Äôs meeting in¬†their opinion on¬†how to¬†deal with the¬†Eurozone sovereign-debt crisis. The¬†official of¬†the¬†European Union met today in¬†Brussels to¬†discuss the¬†possible ways out of¬†the¬†debt crisis. Didier Reynders, the¬†Belgian Minister of¬†Finance, whose country holds the¬†EU presidency until the¬†end of¬†this year, proposed to¬†increase the¬†‚ā¨750 billion ($1 trillion)...

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Trichet Says Euro Not In Crisis 12/3/2010 6:39 AM ET (forexfounders News) - Euro is not in crisis and it's a credible currency, the European Central Bank President Jean-Claude Trichet said Friday. "There is no crisis for the euro as a currency," Trichet told French radio RTL, adding that there are problems of financial instability due to budget crises in certain European countries. The ECB yesterday left its key...
 
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