Australian unemployment rate increased in May

Source: Forexpros
Australian jobless rate advanced in May, reported Australian Bureau of Statistic. The rate of unemployment in the country rose to 5.1% on a seasonally adjusted basis in May as compared to April's reading of 4.9%. The figure is in compliance with expectations. After the data release, Australian Dollar rallied against its US counterpart by 0.26% to trade at 0.9955 US Dollars.
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Thu, 07 Jun 2012 06:33:25 GMT

China postpones stricter bank rules

China announced that it will postpone the introduction of tougher bank rules until January 2013 as such measures may impact lending amid cooling economy. The new regulation is aimed at increasing reserves banks have to keep to cover losses from bad debts. The financial, institutions will be given sufficient transition period to comply with new requirements, reported China's cabinet.

Wed, 06 Jun 2012 20:18:24 GMT

Oil gains on Eurozone optimism, dollar falls

On Wednesday, futures for crude oil rallied, as dollar was falling and investors were optimistic about ECB measures to combat Eurozone crisis. However, the supply of crude oil, which appeared to be larger than expected, did not allow further increase in oil prices. On the NYMEX, July delivery futures were traded at USD85.79 per barrel.

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