Australia's GDP advances two times more than expected

Source: Bloomberg
Australian economy expanded at much faster pace than expected, pushing Australian Dollar, stocks and borrowing costs higher and reducing scope for RBA for further interest rate cuts. Australia's GDP surged 1.3% in the first quarter compared to a 0.6% gain in the fourth quarter. Analysts expected a similar increase as in previous three months at 0.6%.   
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Wed, 06 Jun 2012 06:40:09 GMT

Spain requires help

Spain is likely to seek financial aid from Europe to support its ailing banks, as the country is losing access to financial markets due to increasing interest rates on Spanish bonds, according to the Budget Minister. The Eurozone policy makers developed measures to contain Spain's deepening financial crisis ahead of EU summit in Brussels at the end of June. 

Tue, 05 Jun 2012 20:17:51 GMT

Oil fluctuated around $84 as investors focus on Europe

On Tuesday, futures for crude oil fluctuated around USD84, finding support from U.S. service growth data, which appeared to be unexpectedly good; and also being affected by investors' consciousness about Eurozone. July delivery futures for sweet crude oil peaked at USD84.03 per barrel, consolidating at the level of USD84.03.

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