| Economic News U.K. Aug. Visible Trade Deficit Narrows The U.K. visible trade deficit declined notably in August to GBP 7.8 billion from GBP 8.2 billion in July, the Office for National Statistics showed Thursday. (Oct 13, 2011) Full Article    German Institutes Lift 2011 Growth Outlook The German economy will expand 2.9 percent this year and 0.8 percent in 2012, the Joint Economic Forecast released by the Ifo institute showed Thursday. (Oct 13, 2011) Full Article BoE's Bean Says Expansion Of QE Possible If Outlook Deteriorates: Report The Bank of England could well decide to increase the size of its current GBP 275 billion quantitative easing programme if the outlook deteriorates further, Deputy Governor Charles Bean said in an interview with the newspaper Guardian. (Oct 13, 2011) Full Article Barroso: Austerity Cutbacks Not Right Solution For Europe's Economic Woes European Commission President Jose Manuel Barroso has said that austerity cutbacks are not the right solution for Europe's economic woes, but sound public finances are an essential part of sustainable growth. (Oct 13, 2011) Full Article ECB's Makuch Says Eurozone May See Contraction If Downside Risks Materialize Eurozone gross domestic product numbers would turn negative if downside risks materialize, European Central Bank Governing Council member Jozef Makuch reportedly said Thursday. (Oct 13, 2011) Full Article U.S. Weekly Jobless Claims Edge Down To 404,000 New U.S. unemployment claims ticked down slightly in the week ended October 8th, according to figures released Thursday by the Labor Department. On a seasonally adjusted basis, the Labor Department reported that 404,000 Americans filed new claims for unemployment insurance for the week. (Oct 13, 2011) Full Article U.S. Trade Deficit Nearly Unchanged In August With the value of imports and exports nearly unchanged in the month of August, the Commerce Department released a report on Thursday showing that the trade deficit for the month was also virtually unchanged from the previous month. (Oct 13, 2011) Full Article Forex Top Story BoJ Minutes: Economic Activity Picking Up Steadily Members of the Bank of Japan's monetary policy board said that Japan's economic activity has been steadily improving, minutes from the bank's September 6 and 7 meeting revealed on Thursday. (Oct 13, 2011) Full Article Bank Of Korea Keeps Rates At 3.25% The members of the Bank of Korea monetary policy board on Thursday decided to keep interest rates unchanged at the current level of 3.25 percent for the fourth straight month, in line with expectations. (Oct 13, 2011) Full Article Australia's Jobless Rate Falls First Time In 6 Months Australia's unemployment rate declined for the first time in six months in September as employers stepped up hiring after shedding jobs in the past two months, data released by the Australian Bureau of Statistics showed Thursday. (Oct 13, 2011) Full Article China Trade Surplus Falls; Export Growth Hits 7-Month Low China's trade surplus shrank more than expected in September, while growth in exports eased to a seven-month low reflecting slackening global demand and dwindling confidence levels amid debt crisis in Europe. (Oct 13, 2011) Full Article Rising Downside Risks Demand Rebalancing In Asia, Says IMF European debt crisis and slowdown in the U.S. have increased the risks to Asia, demanding rapid progress in rebalancing to shield the region from global vulnerabilities, the International Monetary Fund (IMF) said Thursday. (Oct 13, 2011) Full Article High Uncertainty, Intensified Downside Risks Dominate Eurozone Outlook: ECB The European Central Bank said that euro area's economic outlook remains subject to particularly high uncertainty and intensified downside risks, though economic activity will benefit from recently announced measures to support the financial sector. (Oct 13, 2011) Full Article Commodities Crude Oil Drops Below $84 U.S. crude oil futures were down for a second session in early dealing Thursday, as fears related to Europe's prolonged sovereign debt crisis weighed on sentiment. (Oct 13, 2011) Full Article Gold Slides Toward $1,670 As Dollar Steadies Gold futures were down Thursday in New York, as the dollar pared its recent losses versus European rivals. (Oct 13, 2011) Full Article Political News American Citizen Accused Of Spying On Syrian Dissidents In US A Syrian-born naturalized U.S. citizen has been arrested and charged over spying on Syrian dissidents in the United States on behalf of the Assad government. (Oct 13, 2011) Full Article US Congress Approves FTAs With S. Korea, Colombia, Panama Both Houses of the U.S. Congress voted in quick succession to approve the long-stalled Free Trade Agreements (FTAs) with Colombia, Panama, and South Korea on Wednesday, apparently backing President Barack Obama's claims that the deals would help in promoting job creation and economic growth in the United States. (Oct 13, 2011) Full Article Euro Rescue Set To Clear Final Hurdle After Slovak Politicians Struck Deal Slovakia's political parties reached a deal on Wednesday to support a crucial bill ratifying the enhanced Eurozone bailout fund, clearing the way for the European Financial Stability Facility (EFSF) to get a final nod from the country's parliament. (Oct 13, 2011) Full Article Reports: Rebel Libyan Forces Capture Mutassim Qadhafi Forces loyal to the interim Libyan administration claim that they have captured one of the sons of deposed dictator Moammar Qadhafi. (Oct 13, 2011) Full Article Ireland's PM: No Objection To Early Introduction Of ESM Ireland has no objection to an early introduction of the European Stability Mechanism, the permanent facility for bailing out troubled states, the Irish Prime Minister Enda Kenny said Thursday following a meeting with European Commission President Jose Manuel Barroso in Brussels. (Oct 13, 2011) Full Article Analyst Currency Comments Bank Of New Zealand Expects NZD/USD To Gain Or Fall Three Cents Next Week Bank of New Zealand said on Thursday that it expects New Zealand dollar to easily gain or fall three cents against the U.S. dollar next week as unpredictable developments in risk tolerance, commodity prices and monetary policy expectations could heavily influence exchange rates. (Oct 13, 2011) Full Article Market To Test Yesterday's Momentum – Westpac While noting that the key driver for yesterday's heavy overnight move in the foreign exchange market was unclear, analysts at Westpac noted on Thursday that the market will test that momentum today either by hanging onto those gains or by hunting on profits. (Oct 13, 2011) Full Article Currency Alerts Euro Slides After ECB Monthly Bulletin During early European deals on Thursday, the euro declined against other major currencies after the European Central Bank's monthly bulletin revealed that the risks to the economic outlook for the euro area remain on the downside in an environment of particularly high uncertainty. (Oct 13, 2011) Full Article Dollar And Yen Rise After ECB Warns Of Intensified Downside Risks During European deals on Thursday, the dollar and the yen strengthened against their major counterparts as traders bet on safe haven currencies after the European Central Bank's monthly bulletin showed that the eurozone economic outlook remains subject to particularly high uncertainty and intensified downside risks. (Oct 13, 2011) Full Article Pound Mixed Against Majors; U.K. Trade Gap Shrinks U.K.'s sterling was mixed in early deals on Thursday, drifting lower against the dollar and the yen while recouping some of previous session's losses against the euro after an official report showed that the U.K. trade deficit narrowed in the month of August. (Oct 13, 2011) Full Article General News Eight Killed In California Hair Saloon Shooting At least eight people have been killed in a shooting incident at a hair saloon in the U.S. State of California, media reports quoting local officials said late on Wednesday. (Oct 13, 2011) Full Article Nigerian Suspect Pleads Guilty To Attempted US Airliner Bombing A 24-year-old Nigerian man pleaded guilty on Wednesday to all charges related to his failed attempt to blow up a U.S.-bound jetliner on Christmas Day 2009 using a bomb hidden in his underwear. (Oct 13, 2011) Full Article 6.8-Maginitude Quake Rocks Indonesia's Resort Island Bali A 6.8 magnitude earthquake rocked Indonesia's Bali island on Thursday, injuring at least 23 people and damaging a number of buildings in resort areas. (Oct 13, 2011) Full Article New Zealand Resumes Operations To Salvage Oil Spill Ship Emergency workers on Thursday resumed their efforts to salvage a container ship that has been leaking fuel oil into the sea ever since it stuck on a reef off New Zealand's North Island last week. (Oct 13, 2011) Full Article Heavy Rains, Landslides Kill At Least 18 In Central America At least 18 people have been killed in floods and landslides in Central America, following heavy rains triggered by a tropical depression formed over the area, media reports quoting officials said late Wednesday. (Oct 13, 2011) Full Article At Least 18 Injured In California Train Collision At least 18 people have been injured after two Amtrak passenger trains collided at a railway station in Northern California, U.S. media reported early Thursday. (Oct 13, 2011) Full Article | 
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