Australian inflation rate tumbled by annualized 1.6% in June

Source: Forexfactory
Australian inflation rate has declined to the lowest level since the world's financial crisis, boosting hopes that the central bank may reduce the interest rates further. The inflation gauge measured by TD-Securities-Melbourne Institute dropped by 1.6% in June on an annual basis, the lowest mark since 2009. The figure spurred speculation that the Reserve Bank of Australia, which has inflation target of 2-3%, may announce further interest rate cuts at its monthly meeting due on Tuesday.


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Mon, 02 Jul 2012 07:55:44 GMT

Euro drops versus its counterparts ahead of manufacturing and labour data

The 17-nation currency depreciated against most of its counterparts on Monday ahead of data releases that are predicted to show Eurozone manufacturing contracted while the unemployment rate climbed to region's all time high to 11.1%. Data are expected to add pressure on ECB to lower interest rates. Euro fell 0.3% versus US Dollar to USD 1.2628. Currently EUR/USD is trading at

Mon, 02 Jul 2012 07:13:31 GMT

China's manufacturing activity growth decelerated further in June

China's manufacturing sector expansion slowed to seven-month low in June, lingering concerns over the health of the country's economy. China's PMI dropped from 50.4 to 50.2 in June on a monthly basis, boosting hopes for fresh measures from the government to stimulate domestic consumption. Experts claimed that slowdown in the EU and US was hurting demand for the country's exports

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