Gloomy Japanese Economic Outlook Overshadowned Accelerated Chinese Exports Growth

Comment

Shutterstock photo

Financial markets moved sideways in Asian session as Japan's GDP data contracted in 3Q12, overshadowing resilient Chinese data. In the US, President Obama called for raising tax on top income earners while maintaining tax cuts for those earning under USD250K per year. This would be part of his efforts to avoid the so-called "fiscal cliff" which might occur as early as January 2013. While exchanges still open on US Veteran Day on Monday, the dataflow is light and the focus will be on the Eurozone. The Greek parliament passed a new set of austerity measures last week and the 2013 budget expected to pass after vote. However, when the next trance of rescue loan would be granted remains uncertain. For the time being, a 3.1B euro 'bridge financing' bill will be issued so that the debt-ridden country would be able to repay maturing debt worth of around 4B euro.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Commodities


More from International Business Times

Subscribe






International Business Times
Contributor:

International Business Times


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com