Australian Dollar Outlook - 05/24/2012

By IBTimes AU

Bell FX Currency Outlook: The Australian dollar has opened this morning around USD.9760, after trading down to a low of USD0.9690 overnight as European equities followed Asia's lead falling around 2.5%. (5:56 am)

MORE TOPICS: AUSTRALIA, FTSE, GOLD, HSBC, WESTPAC, MANUFACTURING, COPPER

Daily Forex Foracast 05/25/2012

By Ozforex

Fears of an impending Greek exit from the euro sent markets into a tail spin yesterday, the euro breaking critical support levels and taking the Australian Dollar down with it. (4:38 am)

MORE TOPICS: CHINA, UNEMPLOYMENT, HSBC, WESTPAC, MANUFACTURING, RETAIL SALES

China To Top US As No. 1 Business Travel Destination: Report

By IBTimes

According to a new report from the Global Business Travel Association, 12- to 15-hour flights to China may soon become the norm for U.S. and European business travelers. (11:34 pm)

MORE TOPICS: CHINA, MANUFACTURING, INVESTMENT

Strong May Car Sales Drive US GDP Growth: Kelley Blue Book

By IBTimes

U.S. auto sales will likely reach a 14.2 million seasonally adjusted annual sales rate in May 2012, the greatest year-over-year gain in more than 12 months, as consumers take advantage of credit and low interest rates to replace aging cars. (11:23 pm)

MORE TOPICS: GENERAL MOTORS, FORD MOTOR COMPANY, NYSE, S&P, TOYOTA, CHRYSLER

Housing market recovery gains traction

By Reuters

The U.S. spring home-selling season got off to a strong start in April with rising sales and prices providing evidence that a housing market recovery was gaining some traction. (11:12 pm)

MORE TOPICS: BARACK OBAMA, BARCLAYS, MORGAN STANLEY, NEW YORK, FORECLOSURES, MORTGAGE

The Real Crash

By Euro Pacific Capital

I first came to national attention back in 2008 and 2009 when the housing and credit markets imploded. I became known as the guy that other market "experts" laughed at when I warned of trouble brewing in the seemingly indestructible American economy. (10:32 pm)

MORE TOPICS: FEDERAL RESERVE, UNEMPLOYMENT, BEN BERNANKE, MANUFACTURING

David Cameron's 600,000 Job Creation Claim to Parliament 'Not True'

By IBTimes UK

Britain's prime minister told David Cameron parliament that 600,000 jobs had been created in the private sector since his coalition government took office in May 2010. (8:42 pm)

MORE TOPICS: RETAIL SALES, RETAIL, BANK OF ENGLAND, QUANTITATIVE EASING, INTERNATIONAL MONETARY FUND

Ailing demand shrinks Greek current account gap

By Reuters

Greece's current account deficit narrowed by close to a fifth in March, data showed on Wednesday, reflecting a sharp drop in imports as the country's austerity-hit consumers tighten their belts. (5:51 pm)

Can the Franco-German Partnership That Has Held the EU Together Weather Their Differences Tackling Austerity?

By IBTimes UK

At the heart of the European Union is a pact that was first formed by two European leaders who were determined to lay to rest for good, the past enmity between their two countries. Konrad Adenauer, Chancellor of West Germany from 1949 to 1963, made ... (3:53 pm)

MORE TOPICS: GERMANY, MANUFACTURING, EUROPEAN UNION, EUROPEAN CENTRAL BANK

UK Retail Sales Plunge 2.3% in April as Weather Hits Hard

By IBTimes UK

The retail sales fall wipes out gains made in March and is another sign that the UK is back in recession. (2:10 pm)

MORE TOPICS: UNEMPLOYMENT, RETAIL SALES, RETAIL, BANK OF ENGLAND, QUANTITATIVE EASING