Italy's cost of borrowing soared during debt sale

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Source: BBC
Italy's borrowing costs increased during last bond sale, escalating worries about Italy's ability to repay its obligations. Three-year bonds faced a rise in the interest rate from 2.76% to 3.89%. Adding to concerns over the Euro Zone's economic state, Greek unemployment rate surged to 21.8% in January as compared to 14.8% in January 2011.


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Fri, 13 Apr 2012 08:26:29 GMT

China's economy expanded less than expected in Q1

China's GDP grew less than initially expected in Q1 of 2012, reported China Statistics Bureau. Country's economy expanded by 8.1% in Q1 on an annual basis while experts predicted the GDP to grow by 8.4%. Many economists even hoped by 9.0% expansion. Meanwhile industrial production rose by 11.9% whereas retrial sales advanced by 14.8% in the period.

Fri, 13 Apr 2012 12:11:04 GMT

Aussie weakens on China GDP data

Australian Dollar declined after China reported its GDP slowed more than expected in the first quarter. Aussie dropped 0.4% vesrus greenback to USD 1.0392. In contrast Kiwi gained 0.3% against its US peer to USD 0.8300. Currently AUD/USD is trading at  USD 1.0388 and NZD/USD is trading at 0.8292.

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