ECB cut Eurozone's growth outlook for 2012

Source: Marketwatch
The European Central Bank cut its growth forecast for 2012, leaving more space for central banks to lower their interest rates or make other bold actions to curb the Eurozone's debt crisis. The Eurozone's economy is now expected to shrink 0.3 per cent in this year, from the previous estimate of 0.2 per cent. Moreover, the outlook for 2013 was also lower to 0.6 per cent growth, from previous 1.0 per cent.
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Thu, 09 Aug 2012 18:30:16 GMT

Gold fluctuate slightly after U.S. data

Gold futures remained in tight range on Thursday, as Euro depreciated against the basket of major trading-partner currencies, and as U.S. trade gap tumbled and less Americans claimed for unemployment benefits. Gold futures with the October contract added 0.01 per cent to $1,613.85 per troy ounce.  Other precious metals gained more, with September silver and copper for the same month adding 0.26% and 0.23% respectively.  

Fri, 10 Aug 2012 17:48:29 GMT

American home prices increased by 7.3% in Q2

U.S. home prices jumped 7.3 per cent in the second quarter, posting the strongest rise since 2006. Another sign that the U.S. property market is growing, is the rise by 75% of local markets. Despite the increase in prices, sales of homes tumbled by 0.7 per cent.  The increase of prices can be mostly explained by  drop in sales of lower-priced homes.

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