In FX markets, the EUR falls against the dollar and yen as investors believe pessimism toward Europe’s debt problems will keep weighing the single unit. The EUR/USD is at 1.2743 from 1.2778 late Tuesday in New York, the EUR/JPY is at 98.01 from 98.20, and the USD/JPY is at 76.91 from 76.84. China’s property tightening measures need to continue for another one to two years to gradually get rid of speculation in the sector, the 21st Century Business Herald quotes PBOC adviser Xia Bin as saying in a report. China lowers the estimate of its 3Q current account surplus to $53.4 billion from $57.8 billion and also lowers its estimate for the first three quarters of 2011 to $141.2 billion from $145.6 billion. South Korean Finance Minister Bahk Jae-wan says the government aims to spend around 30% of its 2012 budget by 1Q 2012, reiterating the government’s intent to combat slowing growth via a front-loaded budget. South Korea’s December seasonally-adjusted jobless rate is at 3.1%, unchanged from November. Australian job vacancies fall 3.3% seasonally-adjusted during the three-month period ended November 2011 from the previous three-month period. Malaysia’s November exports grow 8.0% on-year, falling short of the 11.9% on-year rise tipped. Spot Gold is at $1,637.50/oz, up $5.30 from its New York settlement on Tuesday. February Nymex Crude Oil futures are off 43 cents $101.81/bbl on Globex.
EasyForexNews Research Team