Iron rallies but not for long, Morgan Stanley says

Source: Bloomberg
Iron ore price increased by 0.4% to $145.8 per dry ton Wednesday on the Steel Index in China. The price peaked at $158.9 on 20th of February and was the most expensive in more than one year period. However, investment banks Morgan Stanley and Deutsche bank say that price will face a bearish pressure, since the supply will drastically increase this year. According to estimations, the price might drop to $130 level or even to $115.
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Thu, 07 Mar 2013 13:40:04 GMT

Swiss jobless rate stays unchanged in February

Unemployment rate of Swiss economy stayed unchanged in line with economists' predictions at seasonally adjusted 3.1% in February, the State Secretariat for Economic Affair (SECO) reported on Thursday. Switzerland's jobless rate recorded the same level as in January, when it went up to 3.4%, while the total figure of registered unemployed people dropped by 2,157 to 146,001.

Thu, 07 Mar 2013 12:56:04 GMT

Australian Dollar appreciates on wider trade deficit

The Australian Dollar was higher by 0.2% to $1.0248 during Sydney trading session on Thursday. The currency rebounded after last week decline inspired by speculation that wider than expected trade deficit will not force the Reserve Bank to cut interest rates. The actual Australian trade deficit increased to 1.06 billion Australian Dollar in January.

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