Monday, August 30, 2010

Quick Overview

  • U.S. Consumer spending rose 0.4% in July

  • U.S. Personal income rose 0.2%.

  • The Semiconductor Industry Association said worldwide semiconductor sales totaled $25.2 billion in July, up 1.2% MoM and up 37% YoY

  • The Bank of Japan, under strong political pressure to stem the yen's surge, extended an emergency-loan to domestic financial institutions of Y10 trillion of six-month loans, but markets were unimpressed by the monetary easing.

  • U.S. June crude oil use up 2.5%. The highest level in any month since October 2008.

  • Chinese data Friday showed the country's early-season rice output, which accounts for about a fifth of total rice production, slipped by 6.1% compared with last year to 31.32 million metric tons.

  • "We have now had almost constant rain for the last four weeks, and people are getting seriously concerned that the wheat harvest has suffered quality damage," a German trader said.

  • Indonesia, which is the world's No. 2 robusta producer after Vietnam, may produce 500,000 tonnes of coffee beans this year, down from an estimated 550,000 tonnes in 2009, said Rachim Kartabrata, secretary general of the Indonesian Coffee Exporters Association.

  • Poland's Q2 GDP rose 3.5% from the same quarter last year.

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