Commentary
We publish information about the five most important events happened last week on the market.
1. RBA Cuts Key Rate to Record-Low 2.75% to Combat Aussie: Economy
The Reserve Bank of Australia cut its benchmark interest rate to a record low, driving down a currency that has damaged manufacturing and boosted unemployment.
http://www.bloomberg.com/news/2013-...te-to-record-low-2-75-to-underpin-growth.html
2. China Names Yuan Convertibility Plan as Goal This Year
China signaled it will propose plans this year to allow freer flows of its currency in and out of the nation as part of measures to loosen control over the yuan and interest rates.
http://www.bloomberg.com/news/2013-...rtibility-plan-among-goals-for-this-year.html
3. Watch Out Euro Bulls, Draghi Is Watching You
European Central Bank (ECB) chief Mario Draghi's latest comments that further monetary easing in the euro area is possible is making euro bulls think twice, say currency analysts.
http://www.cnbc.com/id/100713286
4. Welcome to the post-BRIC world
DECLARING an end to the BRIC era might seem the height of foolishness. Last year Brazil, China, India, and Russia accounted for a quarter of global output, a figure that is forecast to rise to about one-third by the end of the decade. China will probably become the world's largest economy before then. India should continue to rise through the ranks as well. As the paper notes this week China, alongside many of the world's populous emerging markets, is destined to regain its historical place among the world's major economic powers.
http://www.economist.com/blogs/freeexchange/2013/05/global-economy
5. Japan stocks soar to tower over Asia markets
Japanese stocks soared Tuesday, towering over other Asian markets as Tokyo investors returned from a four-day weekend played catch-up with central-bank decisions, strong U.S. jobs data and a weaker yen.
http://www.marketwatch.com/story/ja...-but-sydney-slips-2013-05-06?dist=lbeforebell