U.K. GDP unexpectedly declined 0.7% in Q2

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Source: The Wall Street Journal
According to the Office for National Statistics, the U.K. GDP unexpectedly slumped 0.7% in the second quarter, the biggest contraction since 2009, following a 0.3% contraction in the Q1, indicating that economy experiences recession. The U.K. economy shrank 0.8% on annual basis.    

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Wed, 25 Jul 2012 14:41:38 GMT

Gold Second Day Rise

On Wednesday,  spot gold rose 0.2% to $1,583.69 per ounce, expanding gains to a second session. The latest reports showed that U.S. and Eurozone were still in a downturn in July, which had advanced interest for gold. Gold is seen as "inflation hedge", excessive cash printing by central banks directly benefits its sales.

Wed, 25 Jul 2012 14:12:35 GMT

The Euro and European Shares Advance on ECB

On Wednesday, a European Central Bank policymaker said that there were reasons for issuing a banking license for Europe's permanent rescue fund, that would let them acquire unlimited ECB loans. The comment has boosted demand for the Euro which jumped to $1.2115. The FTSE Eurofirst .FTEU3 index lifted 0.1% at 1,019.52 points.In meantime EU officials report that Greece is unlikely

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