Pound increased as US GDP growth forecast declines

Note: This section contains information in English only.
Source: Forexpros

The pound covered losses against USD after six-week low. US government announced a cut in US GDP growth forecast that caused greenback's decline against pound.   GDP/USD rose by 0.07% to 1.5654. However, the pound was slightly lower against other currencies. EUR/GDP increased by 0.18% reaching 0.8639.

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Wed, 23 Nov 2011 08:22:23 GMT

China's manufacturing expected to decline this month

According to managers' preliminary purchasing index Chinese manufacturing industry is expected to face contraction as home sales drop. This month index of 48 estimated by Markit Economics and HSBC Holdings Plc is 3 points less than in previous month. Any estimate below 50 denotes contraction. Analysts say the fall of the index is caused by a 25% decline in home sales last month.

Tue, 22 Nov 2011 17:17:07 GMT

Tech stocks are higher except for HP and Netflix

Tech stocks increased on Tuesday: Nvidia Corp. edged up by 2% while Brocade Communications gained 6%. The overall indicator of the industry the Nasdaq composite index increased by 0.3% and Philadelphia Semiconductor Index increased 0.3%. However, HP suffered losses by 4% after the company cut its projected growth forecast. The Netflix Inc. declined by more than 4% after announcement about the sale of $400 million

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