Australian consumer sentiment improved in June

Source: Forexfactory
Australian consumer confidence improved in June, despite recent interest rate reduction. The Westpac/Melbourne Institute Consumer Sentiment Index posted an increase of 0.3%, approaching 95.6 points this month. The data is disappointing as the RBA cut the cash rate by 25 bps in June while consumer confidence still remains low, said Bill Evans, Westpack chief economist. People were probably influenced by general economic state of the country as well as global fiscal uncertainty, he added.


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Wed, 13 Jun 2012 11:50:42 GMT

Gold flat ahead of Greece's elections

Gold prices were flat in European morning trade on Wednesday as traders are cautious amid lingering Spanish concerns and looming Greek elections. Investors also await Italy's debt auction later in the day. COMEX gold August contract traded at 1,614.65 US Dollars per troy ounce on the New York Mercantile Exchange, easing up by 0.05%.

Wed, 13 Jun 2012 17:39:42 GMT

South Korea's unemployment drops to 3.2%

South Korea's jobless rate reached its bottom in four months due to the continued recruitment boost in the service segment. According to Statistics Korea, the country's unemployment in May fell to 3.2% in contrast to the previous month's 3.4%. However, Ronald Man, HSBC Holding PLC's analyst, stated that as Korean manufactures are becoming more restrained, this could negatively impact the production output, and, consequently, weaken

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