Since early 2012, China has produced some 27 million tons of precious metals. According to data provided by the National Development and Reform Commission (NDRC), this year’s readings are 7.1% higher than those seen in 2011.
The US government is waiting for the US Congress to back the spending cut and tax hike plan aimed at reducing the budget deficit. The forthcoming fiscal collapse can be avoided if the plan is backed by the legislators. Otherwise, the US will face a major economic recession.
The recent report published by the Office for National Statistics (UK) suggests a decline in the UK trade balance down to ₤2.7bn in September. The previous readings were around ₤4.3bn.
The Swiss rate of unemployment increased a bit in October. With a glance at seasonality, the rate of unemployment increased from 2.9% up to 3%. In general, the readings matched the analytic forecast.
According to the data provided by Statistics Canada, the total amount of construction orders in Canada declined down to $6.5bn. This is a 13.2% decline (y/y).
The recent US presidential election used to be the major focus of attention. Some analysts assume that the election results may have a considerable impact on the USDJPY exchange rate.
Graeme Wheeler, Governor of the RBNZ, says the central bank doesn’t expect any weakening of the New Zealand Dollar in the near future. Moreover, the authorities are concerned about the strengthening of the national currency.
Obama’s victory at the recent presidential election seems to have supported the Australian Dollar. According to Tim Waterer, a currency strategist working for CMC Markets, the election results have had a positive impact on risky currencies.