Aussie drops on weaker retail sales

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Source: Bloomberg
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Australian currency depreciated after government report posted an unexpected drop in nation retail sales, boosting investor predictions Reserve Bank of Australia will be forced to cut interest rate tomorrow. Aussie weakened 0.5% against US Dollar to USD 1.0720 while its New Zealand peer dropped 0.6% to USD 0.8306. Currently USD/AUD is trading at USD 1.0718 while NZD/USD is trading at USD 0.8305. 
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Mon, 06 Feb 2012 08:36:39 GMT

Japanese electronics giants predict bigger losses

Japanese leading electronic companies claimed they are likely to loose about USD 17 billion in 2012. Sony Corporation doubled its yearly loss outlook while Sharp Corporation and Panasonic Corporation forecast the worst year in their companies' histories. Japanese electronic producers were heavily hit by Thailand flooding and appreciating Yen amid strengthening positions of Apple and Samsung. 

Mon, 06 Feb 2012 08:17:05 GMT

Australia's retail sales dropped in December

Retail sales in Australia unexpectedly slumped in December, making the first decline in 6 months as consumption on dining out and at grocers weakened. Australia retail sales fell 0.1% on a monthly basis, said Sydney Bureau of Statistics. Economists earlier predicted an increase of 0.2%. After report analysts expect a further benchmark interest rate reduction from Reserve Bank of Australia.

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