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Broadgate: Market News 8/5

8 May 2012

Asian stocks rose after falling the most in six months and copper gained amid optimism over earnings and as German manufacturing data improved.

The Australian dollar fell after the country’s trade deficit more than doubled. It weakened 0.1 percent against the U.S. currency after the country’s trade deficit widened to the biggest in almost 2 ½ years.

German factory orders rose more than forecast in March as demand from outside the euro area helped the country weather the debt crisis, according to data yesterday. Figures today may show the nation’s industrial output climbed.

The euro retreated 0.1 percent to $1.3034 and yesterday touched $1.2955, the weakest level since January 25. The currency is noticeably being affected by political instability in the region. Greek political leaders will meet for a second day in a bid to form a government.

Consumer borrowing in the U.S. surged in March by the most in more than a decade on growing demand for educational financing and autos. Rising consumer confidence also means that households are more willing to take on debt to boost spending, which accounts for about 70 percent of the economy.





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