China widened Yuan band

Note: This section contains information in English only.
Source: BBC
China has eased its currency control measures that is likely to result in more gains of the Yuan value. Starting from Monday, China's currency is allowed to swing to 1% during the trading session against its US counterpart from fixed value determined by the China's central bank, PBOC announced. The previous limit was 0.5%. The move is expected to contribute to fairer value of China's currency as the country was severely criticized for keeping the Yuan at artificially low level.

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Mon, 16 Apr 2012 07:29:32 GMT

US consumer confidence dropped in the beginning of April

Consumer sentiment in the US declined in the beginning of April as it continued to balance between soaring petrol prices and improved economic outlook. The Thomson Reuters/University of Michigan's reading of its consumer sentiment index dropped from 76.2 in March to 75.7 this month. Experts predicted the index to stay unchanged from March's figure.

Mon, 16 Apr 2012 11:57:07 GMT

US shares experienced a worst week in 2012

US shares fell on Friday after China posted disappointing GDP growth data and US consumer sentiment gauge unexpectedly declined. S&P 500 index lost 1.25% or 17.31 points and finished at 1,370.26, Dow Jones Industrial Average shed 1.05% or 136.99 points to 12,849.59 while Nasdaq Composite index tumbled 1.45% or 44.22 points to 3,011.33.

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