German Factory Orders Drop More Than Expected, RBA Unexpectedly Keeps Cash Rate Unchanged at 3.25%

Latest economic news from France we reporting, IMF Warns Of France's Competitiveness Gap, Loss of competitiveness has clouded France's growth outlook and has also undermined the economy's ability to rebound, the International Monetary Fund said in a report on Monday

From G20 forum, G20 Wants Fiscal Adjustment To Be Supportive Of Recovery, The finance ministers and central bank governors of the Group of Twenty on Monday called for complete and timely implementation of all the policy commitments, but stressed that the pace of fiscal adjustment should not impede economic recovery. In a statement published after the meeting in Mexico, the G20 leaders vowed to ensure that the public finances of each country are on sustainable paths and that the pace of fiscal consolidation is appropriate to support the recovery

Economic news from Australia, finally RBA Unexpectedly Keeps Cash Rate Unchanged, The Reserve Bank of Australia on Tuesday unexpectedly retained the benchmark cash rate at 3.25 percent, citing higher-than-expected inflation and a slightly more positive view on the global economic situation. Economists expected the Reserve Bank Board to cut the rate by a quarter point following up on a similar move in October. The RBA can be expected to cut the cash rate by another quarter point in December to be followed by another cut early in 2013, Westpac Chief Economist Bill Evans said

Another ugly data, U.K. House Prices Fall For Fourth Month, Halifax, House prices in the U.K. decreased for the fourth straight month in October as conditions in the mortgage market deteriorated further amid persisting uncertainty over the economic outlook

Meanwhile, Oil And Gas Extraction Drags Down U.K. Industrial Output, U.K. industrial production declined more-than-expected in September due to a record fall in oil and gas extraction as most of the sites were closed for maintenance. In addition, the struggling manufacturing sector clearly signals that economic recovery is losing its steam. Industrial production declined 1.7 percent in September from a month ago, when it dropped 0.5 percent

Latest economic data from Berlin, German Factory Orders Drop More Than Expected, Germany's factory orders slid more-than-expected in September, reflecting weak domestic as well as overseas demand, which in turn added concerns about the future prospects of euro area's growth-engine. Factory orders fell 3.3 percent month-on-month in September, following a revised 0.8 percent decrease in August, the Federal Ministry of Economics and Technology reported Tuesday