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China’s GDP growth down to 7.5 percent

China’s GDP growth slowed in the second quarter to 7.5 percent year-on-year as weak overseas demand weighed on output and investment, lining up a test of Beijing’s resolve to revamp the world’s second-biggest economy in the face of deteriorating data. Other figures showed industrial output in June rising slightly less ...

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Greek debt crisis

Greece, agreed to sell two banks as part of an effort to appease its international lenders and consolidate its beleaguered banking sector, says the Hellenic Financial Stability Fund has chosen Eurobank (the fourth largest lender) to buy New Hellenic Postbank. The irony: The rescue vehicle owns 100% of Postbank and ...

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EUR/USD Technical Analysis

Daily targets-signals Short Euro at 1.3089 stop loss at 1.3124 Long euro at 1.3036, stop loss at 1.3002

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USD/JPY

The dollar fell versus the Japanese yen and Asia stocks jumped. The dollar tumbled after the Bank of Japan lifted its assessment of the economy, but cut growth and inflation views. The dollar had already been pushed lower after Federal Reserve Chairman Ben Bernanke said the central bank won’t be ...

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Greece: New unemployment record at 26.9% in April

Greece: New unemployment record at 26.9% in April Unemployed increase by almost 195,000 more in one year from April 2012 – Employed declined by approximately 160,000 The unemployment rate in Greece rose to even higher levels, highlighting in the most vivid way that this problem, at least for now, is ...

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Miners higher, FTSE 100 to one-month high

Oil producers and mining firms posted solid gains in London on Thursday on an increase in commodity prices, while Associated British Foods PLC rallied after a well-received trading update. The FTSE 100 index (FTI:UK:UKX) rose 1% to 6,572.05, on track for its highest closing level since June 4.

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Gold rallies as dollar sinks

Gold for August delivery (CNS:GCQ3) climbed $39.40, or 3.2%, to $1,286.60 an ounce in electronic trade. The signal that the Fed will likely maintain an accommodative policy stance boosted gold prices, as quantitative easing by the Fed and other central banks worldwide has been seen as supporting a rally in ...

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Dijsselbloem: Eurozone willing to provide additional aid to Greece

Eurogroup president opposed to new haircut on Greek debt Eurogroup chief Jeroen Dijsselbloem expressed his strong opposition to a possible new haircut on the Greek debt. Speaking to five European newspapers Dijsselbloem said that “Greece will repay the loans it has received” and that the deletion of the Greek debt, ...

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Brent near 3-month peak

Brent crude steadied around three-month highs on Thursday, supported by expectations the Federal Reserve will keep its stimulus programme to aid the U.S. economy, while a sharp decline in crude inventories lifted U.S. oil to near 16-month peaks.

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Eurozone unemployment hits new high

Unemployment in the crisis-stricken euro bloc rose to 12.2% for April, according to Eurostat, the statistics office of the EU. At 24.4%, youth unemployment was double the wider jobless rate and up from 24.3% in March. The problem was most extreme in Greece where almost two-thirds of those under-25 are ...

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