Euro forecasts weaken on Draghi's interest rate cuts

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

Foreign exchange analysts are lowering their forecasts for the 17-nation currency at the rapidest rate this year as ECB President Mario Draghi's borrowing rate reduction abandon one of the Euro pillars of maintenance. Investors are dumping assets denominated in euro, as EU officials fail to stop concern that Spain and Italy will capitulate to a debt crisis.  Ken Dickson, Standard Life Investments currency investment director expects additional ECB monetary easing next year. Moreover, he predicts Europe's weakness may push the common currency to around $1.20 during the first 6 months of 2012. 

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Mon, 12 Dec 2011 09:47:42 GMT

South Korea cuts its growth forecast

The government of South Korea cut unexpectedly the growth forecast citing the fall in exports. The Asia's fourth-largest economy is projected to grow by 3.8% this year and by 3.7% next year, according to the Ministry of Strategy and Finance. Analysts predicted the growth to expand by 4.5% for 2011 and 2012. Korea exports growth are likely to fall to 7.4% in the next

Mon, 12 Dec 2011 09:38:19 GMT

Australia's trade surplus declined in October

Australia's trade surplus fell to 1.6 billion Australian dollars on a seasonally adjusted basis in October. The indicator was at A$2.2 billion in preceding month, reported Australian Bureau of Statistics. Exports achieved A$25.7 billion; analysts expected the surplus to be A$2.0 billion, according to ABS.

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