Latest economic news from Asia, South Korea April Current Account Surplus $1.78 Bln, South Korea posted a current account surplus of $1.78 billion in April, the Bank of Korea said on Wednesday, holding in the black for the third straight month.
Meanwhile, from Sidney we reporting, Australia Retail Sales Ease 0.2% In April, latest Retail sales in Australia declined a seasonally adjusted 0.2 percent on month in April, the Australian Bureau of Statistics said on Wednesday, coming in at A$21.212 billion.
Latest news from daily forex news from Eurozone debt crisis, Eurozone Economic Sentiment Near 3-Year Low, Euro area economic sentiment declined more than expected in May to its lowest level in nearly three years, as the worsening economic situation damped firms' confidence, particularly those in the manufacturing, retailing and services industries
From Rome Italy we reported, Italy Bond Auction Misses Target, 10-year Yield Above 6%, An auction of 5 and 10-year Italian debt failed to meet the maximum target set for the sale and the 10-year borrowing costs breached the 6 percent mark amid rising fears of a contagion from the worsening Spanish banking crisis. The Italian Treasury raised EUR 5.73 billion from the auction of its 5 and 10-year bonds or BTPs, while it targeted proceeds between EUR 4.5 billion and EUR 6.25 billion
Still from Eurozone news update, EU Proposes Direct Rescue Fund Bailout For Eurozone Banks, The Eurozone's permanent bailout fund must be given authority to directly recapitalize the troubled banks, according to a set of proposal from the European Commission
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