Euro appreciates ahead of European summit

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Source: Bloomberg
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The European common currency appreciated versus its major counterparts, as Italy improved its deficit reduction plan ahead of European summit on Eurozone's debt crisis. Italian PM reported plan for austerity measures worth €30 bn euros. Euro gained 0.1% both against US dollar and Japanese yen reaching $1.3404 and ВҐ104.51 respectively in Tokyo trade. EUR/USD currently is trading at $1.3408 while EUR/JPY is trading at ВҐ104.55. 

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Mon, 05 Dec 2011 07:35:00 GMT

US car producers experience best sales since 2008

The US motor vehicles industry is recovering faster than expected as car producers are moving towards sales of $12.8 m, the best performance since 2008. Consumers demand has recovered ranging from large pickups to luxury vehicles. Chrysler Group LLC and General Motors Co. managed to get back market share from disaster-troubled auto makers Honda Motor Corp. and Toyota Motor Corp.

Mon, 05 Dec 2011 07:36:54 GMT

Growth services in US may reach a six-month high

Economists expect that service industries in US probably advanced most rapidly since May indicating that country's economy is picking up the pace during last months of 2011. Analysts surveyed by Bloomberg predict the index for non- manufacturing industries to be somewhere between 51.5 and 55. Index above 50 is indication expansion. Economists say US economy is signalling recovery, however, concerns over Eurozone remain. 

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