Loonie depreciates on global risk concerns

Source: Bloomberg
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Canadian Dollar weakened against greenback on Tuesday as investor worries about global growth curbed demand for higher yielding assets including shares and commodities. Canada's currency lost 0.7% against US Dollar dropping to CAD 1.0019. Currently USD/CAD is trading at CAD 0.9997.
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Wed, 07 Mar 2012 10:28:29 GMT

China's import taxes to be lowered in 2012

China will cut taxes on various consumer goods this year, said Wei Jianguo, a former deputy commerce minister. The move will enable stimulating domestic consumption that is the primary aim of the government, he added. The tax reductions are likely to be done in two rounds and will cover wide range of luxury and consumer goods. However, Ministry of Finance

Wed, 07 Mar 2012 09:59:26 GMT

US stock markets tumble on Tuesday

US equities experienced a worst day in last three months on returning fears about Greece's default and the impact of China's slowdown on global economy. S&P 500 index fell 1.54% or 20.97 points and finished at 1,343.36 while Dow Jones Industrial Average index plunged 1.57% or 203.66 points and closed at 12,759.15. Nasdaq Composite tumbled 1.36% or 40.16 points to

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