China's improving situation: Chen Deming

Note: This section contains information in English only.
Source: Bloomberg
Chen Deming, Chinese Commerce Minister, during the G20 summit in Mexico said that China is beginning to revive from the slowdown following the government's steps to boost the economy. China experienced its initial interest-rate cuts after 2008 signifying the potential economic risks due to the lowered export demand. However, The Commerce Minister still trusts that a 10% trade increase in 2012 is attainable.
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Tue, 19 Jun 2012 10:33:58 GMT

Cable steady ahead of inflation data in the U.K.

On Tuesday, the British Pound held steady against the Greenback, since traders were focused on upcoming inflation data in the U.K. Cable peaked at 1.5696, and later consolidated at 1.5671, gaining 0.03% during the European morning trading hours. The pair's near-term support could be at 1.5636, while resistance was likely to be found at 1.5741.

Tue, 19 Jun 2012 10:44:57 GMT

The Australian dollar holds steady versus the U.S. Dollar as investors focus on Spain

On Tuesday, the Australian Dollar held steady versus the Greenback, as traders were focused on soaring borrowing costs for Spain ahead of the sale of its government debt later this day. AUD/USD reached a session low at 1.0105 in the late Asian trading hours, and later the pair consolidated at 1.0124, which was a slight 0.02% decrease for that trading session.

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