The German economy is still getting some stimuli due to export orders. The country’s domestic market is not as poor as in other eurozone economies.
Japan’s external trade deficit keeps breaking records. According t the recent report published by the Japanese Department of Trade, the deficit increased by to $17.38bn in January.
According to the recent report published the OECD, the world’s most developed economies have been suffering from another economic slowdown since late 2012. The aggregate GDP of all 34 members of the OECD dropped by 0.2% in Q4 2012. This is the first slowdown since 2009.
According to HSBC, one of the largest banking and financial services institutions in the world, the Australian Dollar is currently the world’s most overvalued major currency. The financial institution refers to the purchasing-power parity provided by the OECD, the index provided by The Economist (Big Mac) and some other major factors.
The ONS has recently published a negative report on retail sales, thereby reducing to nothing the positive effect of previous retail sales reports. It turns out that the negative tendency keeps affecting the UK retail trade.
Last week, LG, a major manufacturer of electronics from South Korea, announced a new series of smartphones - L Series II. A couple of days before Mobile World Congress 2013, the company announced its new mobile device - Optimus G Pro.
Last week was especially peculiar for currency markets. It seems that the long-term bullish tendency in EURUSD is weakening. In particular, the Daily chart shows that the Main Line of the AO_Zotik indicator has changed colors. This means that within the scope of the latest bullish wave of the corresponding wave level, the current pullback is the last correctional sub-wave. It will be followed by the last upswing and a major reversal.
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