China announced large trade gap amid growing imports in February

Source: BBC
China announced the largest trade gap in more than a decade last month amid soaring commodity imports. The trade deficit jumped to 31.5 billion US Dollars as imports surged by 39.6% on a yearly basis while exports posted 18.4% gain in the period. Experts consider that widening of the deficit is a sign that China is facing more challenges that initially expected. At the moment, commodity prices needed for production are growing while global economic uncertainty continue to weight down on the China's exports.
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Mon, 12 Mar 2012 09:51:35 GMT

Fitch downgraded Greece's IDR to "Restricted Default"

Fitch Ratings has cut Greek long-term foreign and local currency Issuer Default Ratings (IDR) to "Restricted Default" from "C" after announcement that Greece and the Euro Zone confirmed that exchange of the Greece's sovereign bonds will begin. The move follows cut of the Greece credit rating from "CCC" to "C". Fitch cited that the bond exchange indicates the country's default

Mon, 12 Mar 2012 11:20:41 GMT

Aussie and Kiwi drop before US retail data and Fed meeting

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