Australian retail sales unexpectedly fell in April

Source: Bloomberg
The  retail sales in Australia unexpectedly fell in April, posting a drop for the first time since March 2011, sending country's stocks, borrowing costs and currency lower. Retail sales declined 0.2% to USD 20.7 billion in previous month from March. The sales data increase pressure on the Reserve Bank of Australia to lower further its benchmark rate. A cut from 3.75% to 3.5% is predicted by analysts.  
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Wed, 30 May 2012 06:20:30 GMT

The US demands prompt actions of the Eurozone's officials

The US officials are demanding policy makers in Spain, Greece, France and Germany to contain the EU contagion amid the undermined Spanish financial system and political standoff in Greece, as it threatens to cause new worries for the US economy. The officials encourage prompt actions on several fronts, with using €700 billion rescue fund to recapitalize European banks. 

Wed, 30 May 2012 07:24:03 GMT

Euro falls on Spain's downgrade

The 17-nation currency plunged nearly to two-year record low versus greenback after Egan-Jones Ratings cut Spanish sovereign rating from BB-to B. The Euro depreciated to USD 1.2468 in Asian trade and hit JPY 99.05 versus Japanese currency. Euro has dropped 6.3% versus Yen in May. Currently EUR/USD is trading at  USD 1.2469 and EUR/JPY is trading at  JPY 99.09.

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