U.S. GDP contracted in Q2

Source: Bloomberg
The world's biggest economy grew less than predicted during the second quarter of 2012, as consumer spending and business investment declined, the Bureau of Economic Analysis said on Thursday. Nation's gross domestic product increased at a seasonally adjusted annual rate of 1.3%, down from a previous estimate of 1.7%.
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Thu, 27 Sep 2012 18:14:28 GMT

US equities dropped on QE3 pessimism

US equities extended previous losses on rising pessimism over the QE3. On Wednesday, Federal Reserve Bank of Chicago president Charles Evans hinted that the Fed has to put more efforts to boost national economy. Dismal news from Eurozone also sent US stocks lower. Massive protests over fresh austerity measures lifted Spanish 10-year bond yield above 6%. The S&P 500 dropped

Thu, 27 Sep 2012 17:08:29 GMT

Cable pushes higher on disappointing U.S. data

On Thursday, the British Pound pushed higher versus the U.S. dollar on disappointing U.S. and optimistic U.K. data. GBP/USD hit 1.6236 and subsequently consolidated at 1.6224, which was a 0.37% increase for the European afternoon session. The pair's support was likely to be found at 1.6138, while the resistance was prone to be at 1.6310.

Thu, 27 Sep 2012 16:35:30 GMT

U.S. initial jobless claims fell to 359,000

The number of Americans who filed jobless benefits claims fell more than expected and reached a two-month low in the week ending September 22, the U.S. Department of Labor reported. Initial jobless claims dropped by 26,000 to a seasonally adjusted 359,000, compared to expectations for a fall of 7,000 to 378,000, while down from 385,000 in the previous week.

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