| Economic News Eurozone Factory PMI Falls More Than Initial Estimate Eurozone manufacturing activity contracted more than initially estimated in October, final report from Markit Economics showed Wednesday. (Nov 2, 2011) Full Article    German Factory Sector Contracts Less Than Expected In October Germany's factory sector shrunk less than estimated earlier in October, final results of a survey by Markit Economics showed Wednesday. (Nov 2, 2011) Full Article U.K. Oct. Construction Sector Expands Unexpectedly The U.K. construction sector expanded unexpectedly in October, data published by the Markit Economics showed Wednesday. (Nov 2, 2011) Full Article Iceland's Central Bank Hikes Key Rate Unexpectedly Iceland's central bank on Wednesday decided to increase its key policy rate for the second time this year in view of the continued appreciation of the krona and potential global headwinds. (Nov 2, 2011) Full Article Hungarian Banks Need More Capital Injection In Stress Scenario Hungary's banks will require more capital in the event of a global recession and a strong risk premium shock, the National Bank of Hungary said in its Financial Stability Report on Wednesday. (Nov 2, 2011) Full Article U.S. Private Sector Employment Rises More Than Expected In October Employment in the U.S. private sector increased by a little more than expected in the month of October, according to a report released by payroll processor Automatic Data Processing, Inc. (ADP) on Wednesday, with the report also showing an upward revision to the pace of job growth in September. (Nov 2, 2011) Full Article Forex Top Story Decline In Australia Building Consents Exceed Forecast In September Australia's building approvals, a leading indicator of the general level of economic activity, employment and investment, fell more than expected by economists in September, the latest figures from the Australian Bureau of Statistics showed Wednesday. (Nov 2, 2011) Full Article EFSF Delays EUR 3 Bln Bond Sale: Reports The Eurozone rescue fund has postponed a planned EUR 3 billion bond sale, originally scheduled for Wednesday, reports said citing sources close to the matter. (Nov 2, 2011) Full Article German Unemployment Increases Unexpectedly In October German unemployment unexpectedly increased in October, for the first time in nearly two years, as companies were reluctant to add more staff amid weak outlook and fears of contagion of sovereign debt crisis. (Nov 2, 2011) Full Article Commodities Gold Steady Above $1,700 The price of gold was moving higher Wednesday morning as its safe-haven appeal increased after Greece shocked the markets with a call for a referendum on a European Union aid deal. (Nov 2, 2011) Full Article Crude Flat Ahead Of ADP Report The price of crude oil was little changed Wednesday morning as traders await cues from today's economic data, including private sector employment report and U.S. crude oil inventories. (Nov 2, 2011) Full Article Political News Merkel, Sarkozy To Meet On Greece Ahead Of G20 French President Nicolas Sarkozy and German Chancellor Angela Merkel will hold an emergency meeting on Wednesday in Cannes to discuss Greek Prime Minister George Papandreou's decision to call for a referendum on the EU rescue deal. (Nov 2, 2011) Full Article Greek Cabinet Backs PM's Referendum On Bailout Package The Greek Cabinet on early Wednesday approved Prime Minister George Papandreou's proposal to hold a referendum on a European Union debt rescue deal that has prompted strikes and protests across the EU member-nation. (Nov 2, 2011) Full Article Israel To Expedite Settlement Construction In West Bank Israel on Wednesday announced its intention to speed up the construction of about 2,000 new homes in Jewish settlements in the West Bank and East Jerusalem following the recognition of Palestine as a member of the UNESCO-- the U.N. Educational, Scientific & Cultural Organization. (Nov 2, 2011) Full Article Saudi Arabia Rules Out Compromise On 'Iranian Plot' To Kill Ambassador Saudi Crown Prince Naif bin Abdulaziz has ruled out any compromise with Iran over allegations of an Iranian plot to assassinate the Saudi Ambassador to Washington. (Nov 2, 2011) Full Article Colombian President Dissolves Scandal-Hit Domestic Spy Agency Colombian President Juan Manuel Santos has dissolved the country's domestic intelligence agency, the DAS, following a series of scandals that resulted in the jailing of several former and current officials, authorities said late on Tuesday. (Nov 2, 2011) Full Article Assange Loses Appeal Against Extradition To Sweden The High Court in London on Wednesday rejected an appeal filed by WikiLeaks founder Julian Assange against his extradition to Sweden over allegations of sexual misconduct there, giving the Australian 14 days to appeal against the verdict at the Supreme Court. (Nov 2, 2011) Full Article Analyst Currency Comments Risk-currencies Rebound- Westpac Analysts at Westpac noted on Wednesday that risk currencies rebounded, with the situation in Greece once again in the spotlight. (Nov 2, 2011) Full Article Currency Alerts Australian Dollar Extends Rally Against Majors; Fed In Focus After a brief slide in early Asian deals, the Australian dollar gained and has been extending its rally against other major currencies in early European trading on Wednesday ahead of the U.S. Federal Reserve's monetary policy announcement later in the day. (Nov 2, 2011) Full Article Dollar Falls Ahead Of ADP Employment Report And Fed Meeting The U.S. dollar declined against other major currencies on Wednesday ahead of the ADP National Employment Report and the Federal Reserve's monetary policy announcement. (Nov 2, 2011) Full Article Dollar Rally Peters Out Ahead Of Fed, G-20 The dollar leveled off versus the euro Wednesday morning, as European officials scrambled keep a plans for a sovereign debt bailout package on track. (Nov 2, 2011) Full Article Canadian Dollar Trades At 2-day Low Against Euro And Yen The Canadian dollar drifted lower against the currencies of Europe and Japan in early deals Wednesday (Nov 2, 2011) Full Article General News Somali Towns Warned Of Imminent Bombings By Kenyan Troops Kenyan military warned using social media website Tweeter on Wednesday that ten Somali towns would soon come under continuous bombing attacks by Kenyan forces which are currently inside Somalia to take on al-Shabaab militants blamed for several cross-border attacks in recent weeks. (Nov 2, 2011) Full Article Seven Killed, 200 Injured In China Explosion Seven people have been killed and over 200 injured, 25 of them seriously, in an explosion in southwest China's Guizhou province, local authorities said. (Nov 2, 2011) Full Article India's Maoist Rebels Kidnap 14 Construction Workers Maoist rebels have abducted 14 employees and contract workers of a private construction company in the eastern Indian state of Bihar, officials said on Wednesday. (Nov 2, 2011) Full Article French Weekly Attacked For Lampooning Prophet A fire bomb attack has destroyed the office and equipment of French satirical weekly 'Charlie Hebdo' in Paris, officials said on Wednesday. (Nov 2, 2011) Full Article UAE To Select Uranium Supplier For $20-Billion Nuke Program The United Arab Emirates will select a uranium supplier for its $20-billion nuclear energy program in the first half of next year, says UAE's Permanent Representative to the International Atomic Energy Agency (IAEA). (Nov 2, 2011) Full Article Honduras Deploys Troops In Cities To Combat Drug Violence Honduras President Porfirio Lobo has deployed hundreds of troops in the country's main cities to combat drug-related violence. (Nov 2, 2011) Full Article | 
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