Australian house prices unexpectedly increase

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Source: Bloomberg
House prices in Australia unexpectedly increased in the previous quarter, following five consecutive quarters of drops, as interest rate cuts by the RBA lured buyers. 125 basis points of rate cuts were aimed at helping strengthen the Australian economy as the Eurozone debt crisis escalates as well as at helping households to pay down debt. 
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Wed, 01 Aug 2012 07:19:54 GMT

Yen rises on manufacturing data

The Yen gained versus its major counterparts amid Asian stocks fall on signs that manufacturing around the world declines. Japan's currency rose 0.2% to 95.93 per Euro after China's PMI displayed the slowest manufacturing growth in eight month and earlier than a European manufacturing benchmark proves estimated slid in July. The Yen also gained 0.1% to 8.03 per Dollar.

Wed, 01 Aug 2012 06:43:54 GMT

China's PMI unexpectedly weakens

China's Purchasing Managers' Index tumbled to 50.1 in July, the eight-month low, as the government reported on Wednesday. China moved very close to the 50 marks, the dividing line between contraction and expansion. Leaders of China from the Communist Party promised on Tuesday to continue adjusting policies to guarantee stable boost.

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