The euro (EUR) continues to weaken against the U.S. dollar (USD) due to growing concerns over the political and economic situations in the region, with the latest dismal data and elections in France and Greece likely to put further downward pressure on the single currency.
Foreign direct investment (FDI) into China continued to fall for the fifth consecutive month in March, as concerns over European sovereign debt crisis curbed investments by companies in the world’s second largest economy.
Moody’s Investors Service on Monday downgraded the rating of Finland-based mobile maker Nokia from Baa3 to Baa2, a move in response to the company’s announcement of sharp decline in mobile sales in the first quarter this year.
China has further opened up its domestic share markets for foreign participation, in a bid to ease the tight controls for investments by qualified foreign institutional investors (QFIIs).
UK economy seems to be on the track to buck the trend in many other European countries where economic recovery continues to struggle.
The unemployment rate in the eurozone increased to its highest level in 14 years in February, as the region’s faltering economic growth left more than 17 million people jobless in the month.
German unemployment rate fell to a record low in March, in contrast to many other nations in the eurozone which suffer from rising unemployment levels, while also showing evidence that growth in the Europe’s largest economy is picking up.
Angelo Gurria, the head of the Organization for Economic Cooperation and Development (OECD), said on Tuesday that eurozone finance ministers should need to boost the firepower of the European stability funds to at least one trillion euros ($1.3 trillion).
The Indian Budget, which will be tabled in the Parliament Friday, is expected to incorporate same features as the previous budget, as the country faces challenging economic conditions and uncertain political scenario.
The business sentiment survey in Germany Thursday strengthened expectations that Europe's largest economy is on its way to avoid a contraction in the first quarter this year, easing concerns over country slipping back into recession.
The Chinese yuan has been a laggard in Asia in the year so far while other regional currencies, including the Japanese yen, are posting strong gains against the U.S. dollar (USD) and the euro (EUR).
Japan finance minister Yoshihiko Noda on Tuesday was elected as the country’s sixth new prime minister in five years, even as the nation suffers from many economic problems and high debt levels.
Gold prices tumbled for the past days, falling around 10 percent from its peak reached on Tuesday.
A top official of Standard & Poor's said, France will retain its AAA rating, allaying fears of possible downgrade of the country?s rating due to ongoing eurozone debt crisis.
Following Fitch?s affirmation of ?AAA? rating to U.S. debt, which was in sharp contrast to S&P?s downgrade, the focus now turns to whether Moody?s will retain top rating for the US.
The continuing sovereign debt crisis in the eurozone and S&P?s downgrade of the U.S. credit rating have increased the safe haven demand for gold and the prices have reached new highs. But investors remain skeptical whether there could be further rally in the price.
Following a surprise U.S. debt rating downgrade by S&P?s last Friday, now attention turns to other AAA-rated countries, which are at the risk of similar downgrade.
The U.S. treasury department attacked S&P?s decision to downgrade the country?s AAA rating, saying that there is a $2 trillion error in the credit agency's analysis.
Following Japanese and Swiss authorities? intervention in the currency markets to weaken the sharp appreciation in their domestic currencies, now the market focus turns to Canada, where the Bank of Canada (BoC) expressed concerns over the persistent strength of Canadian dollar (CAD).
Former Egyptian leader Hosni Mubarak pleaded "not guilty" to charges of corruption and complicity in a Cairo court Wednesday.