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Indosurya Weekly Report
Fourth Week, August 2010
Your Investment Partner
Economy Indicator
U.S home sales predicted move down, but GDP shows improvement
Home sales probably plunged in July, and orders for long-lasting goods climbed for the first
time in three months as the U.S strained to sustain the recovery from the worst recession
since the 1930s. Purchases of new and existing houses dropped 12% to a 5,01 million annual
pace, the lowest since March 2009. Durable-goods bookings climbed 3% last month, the
survey showed. U.S have lost the momentum in the 2nd quarter and now they’re really
struggling to regain any momentum at all. Another report this week may show the economy
grew from April through June even less than previously estimated, one reason why
employment and consumer spending have failed to pick up. The Fed may shed more light on
policy makers’ outlook this week when They addresses central bankers from around the
globe. The Commerce Department’s update on Aug. 27 will therefore show GDP grew at
1,4% pace, the weakest quarter of the recovery that began in the middle of last year, rather
than the 2,4% rate calculated last month. Claims for jobless benefits, due from the Labor
Department on Aug. 26, retreated to 491.000 last week from a 9-month high of half a million
the prior week. The surge in applications over the past month indicates the labor market may
be taking a turn for the worse as the economy slows.
Japan Government with BOJ will talk about strengthening of Yen
On this day, The Japan Prime Minister, Khan met with Governor of Bank of Japan, Masaaki
to respond to the strengthening Yen. It is feared that the strengthening Yen potential
threatens Japan's exports. Last week, the Government said the current position of the Yen
was too str