Pound Sterling also hit by budget deficit – Canadian Dollar down on risk aversion
The Pound continued its downtrend on rumors that the UK will face another long-term crisis as the British record budget deficit will strongly hamper the economic improvement, forcing the Sterling down especially against safe haven currencies.
Read more...Snowy weather results in strong decline British retail sales
Snowy weather affected UK retail sales as it dropped by 1.8% between December and January, which is the strongest decline in 1,5 years, according to the Office for National Statistics. Analysts had expected a drop that was three time less faster. Nevertheless,
Read more...Taiwanese GDP growth boosted by exports to China
The Taiwanese economy expanded on a yearly basis by 18% in the last quarter of 2009, boosted by demand for highly advanced technological products from Continental China. The economic expansion came above expectations,
Read more...Discount rate hike boosts Greenback, affects Canadian Dollar
The Greenback reached the highest rate this year against a number of key currencies, after the Fed increased its bank discount rate for loans, boosting demand for US Dollar-priced investments, while the economy shows signs of recovery,
Read more...Norwegian economy: first contraction in two decades
The Norwegian economy shrank last year, for the first time in two decades. The whole array of GDP components, with the exception of government spending, declined in comparison to 2008. The mainland-Norway gross domestic product contracted 1.5% last year,
Read more...Euro continues its downtrend– Hungarian Forint down on budget deficit problems
Europe’s Single Common Currency has shown signs of another gloomy trading session, after suggestions by EU officials that Greece should execute more extensive budget-cut measures to receive support by the eurozone financial authorities to bring its
Read more...French fourth quarter GDP exceeds expectations, boosted by consumers
The French economy grew faster than estimated in the last quarter of 2009, boosted by consumer spending and less destocking by companies than before, according to today’s figures.
Read more...Greek catastrophe affects Euro – South Korean Won up on EU Greece helping plan
This Wednesday, the Eurozone currency lost its advance, gained by speculations that the European Union would support Greece to solve its fiscal problems, due to expectations that the issue might not be discussed in the eurozone meeting of tomorrow, decreasing hopes
Read more...Swiss retail sales climbs – Strong rise Irish consumer confidence
The Swiss unemployment rate surprisingly dropped and retail sales climbed on the back of the improving economy. Retail sales, corrected for shopping days and inflation, climbed 4.7% in December in the yearly comparison, while it dropped 0.1% in November, according
Read more...Unexpected drop in US unemployment – Mexican Peso falls again
The unemployment level in the US dropped surprisingly last month, reaching the lowest rate in five months, according to official data released by the Labor Department. January’s level was 9.7%, while December showed a 10% rate.
Read more...Retail sales Euro area flat in December
Retail sales in the Euro area ended its period of growth in December as consumers decreased spending in spite of the Christmas and New Year holidays. Retail trade maintained its volume in the last month of 2009 in comparison to November, according to the latest Eurostat
Read more...RBC: Canadian slightly more pessimistic on employment anxiety
Canadian consumers have become slightly more pessimistic in January regarding employment and the economy, as they have become more worried about their debt loads, according to today’s consumer survey.
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