Forex Market Update

Forex Market Update Tuesday, October 11, 2011, 09:09 Contents Economic News Forex Top Story Commodities Political News Analyst Currency Comments Currency Alerts General News Economic News Australia Business Confidence, Conditions Improve In September - NAB Business confidence in Australia increased in September, according to survey results released Tuesday by National Australia Bank. (Oct 11, 2011) Full Article China Increases Stake In Major Banks: Report China's sovereign wealth fund purchased shares in the country's major banks in an attempt to stabilize their stock prices, the Xinhua news agency reported Tuesday. (Oct 11, 2011) Full Article New Zealand FY11 Budget Deficit Wider Than Expected New Zealand's budget deficit was bigger than forecast in the year ended June 30 due to heavy spending for reconstruction after the Christchurch earthquake. (Oct 11, 2011) Full Article Greece Sept. Annual Inflation Accelerates Greece annual inflation accelerated sharply to 3.1 percent in September from 1.7 percent in August, the statistical office said Tuesday. On a monthly basis, prices surged 3.3 percent, offsetting 1.4 percent drop in the prior month. (Oct 11, 2011) Full Article OECD Unemployment Rate Remains Steady In August Unemployment in the the Organization for Economic Co-operation and Development (OECD) area remained unchanged in August after dropping in the previous month, latest data revealed. (Oct 11, 2011) Full Article Forex Top Story Japan Current Account Surplus Y407.5 Billion Japan posted a current account surplus of 407.5 billion yen in August, the Ministry of Finance said on Tuesday, down an annual 64.3 percent. That was shy of expectations for a surplus of 453.6 billion yen and down from the 990.2 billion yen surplus in July. Analysts had expected a contraction of 63.6 percent following the 42.4 percent plunge in the previous month. (Oct 11, 2011) Full Article UK Home Prices Unchanged; Housing Supply Falls: RICS House prices in the U.K. remained unchanged in September, while housing supply fell back due to weak consumer confidence, a survey by the Royal Institution of Chartered Surveyors (RICS)showed Tuesday. (Oct 11, 2011) Full Article U.K. Aug. Manufacturing Output Declines More Than Forecast British manufacturing output declined more than expected in August, mirroring a downturn in the domestic and global economy amid concerns about Europe's sovereign debt problems. (Oct 11, 2011) Full Article Indonesia Cuts Borrowing Costs Amid Global Concerns Indonesia's central bank on Tuesday made a surprise interest rate cut to shield the economy from global economic woes, as inflationary pressures are expected to recede in the coming months. (Oct 11, 2011) Full Article Trichet Calls For Coordinated, Swift Measures To Address Crisis European Systemic Risk Board Chairman Jean-Claude Trichet on Tuesday urged national governments to take coordinated and swift measures to tackle the debt crisis. (Oct 11, 2011) Full Article Commodities Gold Edges Down Amid Steady Dollar The price of gold was ticking lower Tuesday morning amid a steady U.S. dollar. (Oct 11, 2011) Full Article Crude Steady Near $85 The price of crude oil was holding on to its recent gains Tuesday morning amid a steady U.S. dollar. (Oct 11, 2011) Full Article Political News Verdict In Trial Of Ukraine's Ex-PM Tymoshenko Expected Tuesday Final verdict in the controversial abuse-of-office trial of Ukraine's Opposition leader and ex-Premier Yulia Tymoshenko is expected late on Tuesday, ending months-long wait of her supporters as well as the international community. (Oct 11, 2011) Full Article Putin In China On Two-Day Visit Russian Prime Minister Vladimir Putin arrived in Beijing on Tuesday afternoon, kick-starting a two-day China visit aimed at bolstering the already strong relations between the two neighboring nations. (Oct 11, 2011) Full Article South Korean President Leaves For US Ahead Of Congress Vote On FTA South Korean President Lee Myung-bak has begun a tour of the United States that is key in trade relations between the two allies. (Oct 11, 2011) Full Article Analyst Currency Comments Westpac Favors Lower USD/Asia While noting that Asian currencies consolidated in Tuesday's session after a very strong start to the week, Westpac analysts said they still favor lower USD/Asia, although they expect a push higher before the downtrend resumes. (Oct 11, 2011) Full Article Currency Alerts Australian And NZ Dollars Fall Ahead Of Slovak Parliament Vote On EFSF After consolidating in the Asian session on Tuesday, the Australian and New Zealand dollars declined against most major currencies in early European deals as traders remained cautious ahead of the Slovak parliament's vote on the expansion of the euro zone bailout fund. (Oct 11, 2011) Full Article Pound Mixed After U.K. Industrial Production Data The sterling was mixed in early European deals Tuesday, edging higher against the euro and the Swiss franc while losing ground versus the lower-yielding dollar and the yen after an official report showed that the U.K. industrial production grew unexpectedly in August. (Oct 11, 2011) Full Article Swiss Franc Declines From Fresh 1-week High Against Pound After moving broadly sideways in the Asian session, the Swiss franc edged lower against its major counterparts in early trading on Tuesday. The franc thus fell from a new 1-week high against the pound. Investors await a decision on whether Slovak lawmakers will approve the expansion of the euro zone bailout fund. On the eve of a vote in Parliament scheduled later today, Slovakian prime minister threatened to quit if the vote fails. (Oct 11, 2011) Full Article Dollar Steady As World Eyes Slovakia Vote On EFSF The dollar fell no further Tuesday morning after suffering significant looses against their major European counterparts in the previous few sessions, as markets looked to tiny Slovakia for a pivotal vote on Europe's retooled sovereign debt bailout fund. (Oct 11, 2011) Full Article General News China To Extend Resource Tax To Entire Country China will tax all resource products from November 1, extending the resource tax on domestic sales of crude oil and natural gas to the entire country. (Oct 11, 2011) Full Article China To Inspect Offshore Oil Drilling After Worst Oil Spill China will launch on October 15 a nationwide inspection of its offshore petroleum drilling and exploration businesses to prevent future oil spills. (Oct 11, 2011) Full Article Myanmar Grants Amnesty To Over 6,300 Prisoners Myanmar's military-backed civilian government has granted amnesty to more than 6,300 prisoners, the country's public broadcaster announced on Tuesday. (Oct 11, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service