Eurozone debt crisis going to their new level, S&P Cuts Greek Debt Rating To Selective Default, Standard and Poor's downgraded its rating on Greek sovereign debt to 'selective default' on Monday after the country struck a debt swap deal with its private bondholders last week with an aim to reduce its debts.
Meanwhile, Japan Retail Sales Rise Unexpectedly On Vehicle Demand, great news folks, Retail sales in Japan increased unexpectedly in January due to a surge in motor vehicle sales, data from the Ministry of Economy, Trade and Industry showed Tuesday.
From Eurozone leader, German Consumer Morale To Hit One-Year High In March, Sentiment among German consumers will likely rise to its highest level in one year in March, as stable labor market conditions continued to lift income expectations.
By the way, Eurozone Economic Confidence Strengthens In February, Eurozone economic confidence rose more-than-expected in February despite muted economic activity and sharp fiscal tightening in many economies. Many traders await the new growth
From U.S. Economic news we reported, U.S. Durable Goods Orders Drop 4 Percent In January, U.S. durable goods orders fell for the first time in the last four months in January, according to figures released Tuesday by the Commerce Department. New orders for manufactured durable goods dropped $8.6 billion to $206.1 billion, a 4 percent drop from December levels. The drop, following strong increases in December and November – 3.2 percent and 4.2 percent respectively – was generally expected. However, most economists had forecast a rather less severe decline of 0.7 percent. Nice data
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