Australian and New Zealand Dollars drop before European bond auction

Source: Bloomberg
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Aussie and Kiwi retreated from four day advance as European bailout fund prepares to auction three-year notes amid worries Euro Zones largest economies may face credit downgrading. Australian domestic currency lost 0.3% reaching $1.0349 in Sydney evening trade while New Zealand Dollar gave up 0.1% dropping to $0.7888. Currently AUD/USD is trading at $1.0361 and NZD/USD is trading at $0.7895.

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Wed, 04 Jan 2012 07:58:08 GMT

China to face a challenging first quarter in 2012

Chinese Prime Minister Wen Jiabao suggested the business environment may become relatively tough in the first quarter of 2012 and the monetary intervention is likely to be needed. Wen predicted a slowdown amid accelerating price inflation in the first three months of 2012. Barclays Capital's economists forecast Chinese central bank may lower further reserve requirements for commercial banks. 

Thu, 05 Jan 2012 09:47:06 GMT

Greece may need additional fiscal measures

Greece may need extra fiscal measures to comply with 2011 budget requirements, said the government spokesman. Moreover, the interim government developed 'very specific' measures to pursue the goal of staying in the Euro Zone, the official added.

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