Canada's GDP contacted by 0.2% in February

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Source: Forexpros
Canada's economy posted unexpected contraction in February, following marginal expansion of 0.1% in the preceding month, according to Statistics Canada. The country's GDP slumped by 0.2% in February on a seasonally adjusted basis, confronting expectations of a 0.2% growth. After the release of data, Canadian currency extended previous losses against its US rival and USD/CAD traded at 0.9859, soaring by 0.54%.

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Mon, 30 Apr 2012 14:40:44 GMT

S&P 500 index keeps climbing on earnings

S&P 500 index managed to gain on Friday despite disappointing US quarterly GDP figure. US benchmark climbed 0.24% or 3.38 points to 1,403.36 with consumer service sector contributing most. Expedia rocketed 24% on better than expected net income from its hotel-booking unit. Amazon rallied 16%, after the internet retailer posted a big jump in shipments. Starbucks fell 5% after the

Mon, 30 Apr 2012 14:05:45 GMT

Italy's inflation rate stayed at 3.8%

Inflation rate in Italy hit six-month high this month, being elevated by growing energy costs and austerity measures such as tax increases. Italy's inflation rate remained unchanged at 3.8%, reported Istat. The figure is higher than Bloomberg's forecast of 3.6%. Meanwhile, consumer confidence dropped to the lowest level since 1996, indicating that the country's economic state has been deteriorating.

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