US Dollar dropped on easing Greece's concerns

Note: This section contains information in English only.
Source: Forexpros
US Dollar was broadly lower in Asian session on Monday as recent polls indicated that parties favoring bailout measures are becoming more popular in Greece. Hence, the country is likely to stay in the single currency union. EUR/USD added 0.53%, approaching 1.2583 while GBP/USD gained 0.18% to trade at 1.5954. At the same time, the greenback moved down versus the Yen and USD/JPY traded at 79.44, losing 0.30%.


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Mon, 28 May 2012 07:09:01 GMT

China opened its banks for private investors

China has granted private investors the same rights as state firms possess while investing in China's banks. The move is aimed at boosting economic growth via attracting more overseas investors who were put off by inefficient banking sector in the country. Recently, China also opened its telecommunications and energy sectors for foreign investors.

Mon, 28 May 2012 07:31:59 GMT

China manufacturing companies' profits dropped in April

China manufacturing companies' profits fell 2.2% to USD 64.2 billion in April, National Statistics reported on Sunday. In March companies net earnings advanced by 4.5%. The drop in profit fuels concerns the Chinese economy is slowing to larger extent than expected. Annual manufacturing profit growth for 2012 might be somewhere between 10%-20%, Lu Zhengwei, analyst at Industrial Bank predicted.

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