Mar 16
RBA Back Maintain Interest Rates 4.75 Percent
Tuesday, 05 July 2011 06:34

Central Bank of Australia (RBA) today (3 / 5) decided to maintain interest rates at 4.75 percent level. Thus, the RBA has a record six consecutive months to maintain interest rates at that level.

The decision was in line with that anticipated by economists and market participants in advance.

In a statement accompanying the announcement of interest rates, RBA Governor Glenn Stevens said that recent inflation data showed the effects of declining production due to floods and Cyclone Yasi. Stevens added that the RBA predicts inflation will approach the target level within a year along with the reduced pressure of rising prices due to factors that are temporary.

Japan's Service Sector Activity Still Weak in June
Tuesday, 05 July 2011 06:31

For the fifth consecutive month, the Japanese private sector activity declined again in June. Japan's service sector activity index Markit Economics, released today (5 / 7) rose to 45.4 from 43.8 in May before.

The index number below 50 indicates terkontraksinya service sector in Japan.

Meanwhile, the composite output index that includes activities in both manufacturing and services sector, rose to a four-month to 47.6 in June from 46.2 in May.

The low activity of the service sector reflects a further decline in new business during the month of June. Number of employees in Japan's service sector continued to decline, although the lowest calculated rate of decline since January.

China's Private Sector Growth Slows in June
Tuesday, 05 July 2011 06:28

China's private sector growth slowed in June, as shown by survey results from Markit Economics, HSBC published today (5 / 7). HSBC composite output index in June fell from 52.8 in May to 51.6 for June.

The index number in June was recorded as yhang lowest in 27 months. Even so, the index numbers are still above 50 indicates that the Chinese private sector is still in expansionary territory (growth).

The decline in the growth of income primarily reflects the decline in manufacturing output for the first time in nearly a year. Conversely, service sector index numbers fairly solid with 54.1 in June.

Euro Strengthens Related Speculation ECB Week Three
Monday, 04 July 2011 05:44

The euro rose to its highest level three weeks against the dollar and the yen related to speculation the European Central Bank (ECB) will raise interest rates this week.

The euro gained against 13 of the 16 other major currencies after European finance ministers are authorized to loan 8.7 billion euros ($ 12.7 billion) to Greece in mid-July. Thai baht rose to a high level one week after the election victory by the allies of Prime Minister Thaksin Shinawatra. Meanwhile, the yen slipped against most other major currencies traded yag related to weak demand for the Japanese currency as a refuge.

The euro strengthened to $ 1.4556 by 9:51 am in Tokyo from $ 1.4526 in New York on July 1, after reaching $ 1.4578, its highest since June 9. The euro gained to 117.62 yen from 117.42 level. From earlier touching 117.74 yen, its highest since June 8. Yen at 80.81 per dollar from 80.83.

Greece Need Reforms To Securing Bailout
Monday, 04 July 2011 05:34

Greece is struggling this week to sell assets and reform the tax system to qualify the proposed European Union and the IMF.

Eurogroup Chairman Jean-Claude Juncker stated that Greece would lose sovereignty-related anger of the unions who opposed the austerity plan.

Juncker's comments could lead to increased anti-savings that have been roiled for months, making countries such as Greece remained trapped in the worst recession since the 1970s with the unemployment rate over 40%. percent.

On Saturday, eurozone finance ministers approved a loan of € 12 billion Greek to prevent default.

China's Service Industry Slows In June
Monday, 04 July 2011 05:30

Expansion of non-manufacturing industries or service China slowed in four months in June, raising concerns that efforts to tame inflation limits growth in the second-largest economy in the world.

China Federation of Logistics and Purchasing said on its website, the Purchasing Managers Index (PMI) fell to 57 from 61.9 in May. A reading above 50 indicates expansion. Manufacturing index fell in June to its lowest level in 28 months because of export orders and output grow more slowly. Deputy Prime Minister Wang Qishan said China, China's economic growth target for this year will be difficult to achieve. Previously, Wen inflation target of 4% this year and economic growth of 8%.

"The slowdown is the result of the tightening measures the Chinese government to control inflation," said Shen Minggao.

Non-manufacturing PMI is based on data from industries including real estate, transportation, retail, catering and software. China housing prices decreased in eight of the 10 countries the largest city in June as the government expands efforts to reduce the risk of asset bubbles in the housing market.

The Bailout Of Greece Second Half Has Started
Thursday, 30 June 2011 06:29

Financial markets heaved a sigh after Greece's Parliament passed a package of savings of $ 40 billion. A second vote on the implementation of the package set up for tomorrow and the ongoing protests in Athens could change the political calculations. But hope is now Greece will receive a $ 5 billion bailout package from the EU-IMF and avoid a default in the short-term.  

That's good news, at least as far as the market in question. European Stock markets rallied overnight as the euro rose sharply against the dollar. Dow recently up 0.6%, on track for a third successive rise-be.  

The bad news is that Greece will be able to pay his debts exceeded next month and the austerity package is likely to paralyze a struggling economy.  

"No country in the history of the modern economy has faced the level of debt similar to Greece by a ratio of debt to GDP over 150% and avoid default," said an analyst at Open Europe, based in London. "Even with the help of the second bailout and debt rollover, Greece is still likely to default within the next few years, due to the poor growth prospects and the increasingly heavy burden of debt which means it must be able to fund itself after 2014."  

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