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2 December 2008 - AEST 8.30am - The US economy is officially in recession  -   European sharemarkets fell on Monday as traders took profits on the solid gains recorded for shares and commodities last week  -   With an hour of trade to go    the Dow Jones was lower by 395pts or 4.5pct while the S&P was lower by 5.3pct and the Nasdaq was lower by 85pts or 5.6pct  -   USD  made modest gains against Euro and commodity currencies but slumped against the Japanese yen  -   Crude oil prices fell sharply on Monday  -   Base metal priceswere generally lower  -   And the price of gold fell after traders booked profits on last weeks solid gains.   

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Tuesday, 2 December 2008
  • AU Retail trade, Oct, m%ch, flat (-1.1)
  • AU Current A/c deficit, QIII, $bn, 11.5 (12.8)

  • % GDP, 3.8
    Net export contrib, ppt, -0.2 (-0.1)
  • AU Government financial statistics, QIII
  • AU RBA cash rate decision, %, 4.5 (5.25)
  • US Domestic vehicles sales, Nov, $mn, 8.0 (7.9)
  • US Total vehicles sales, Nov, $mn, 10.5 (10.6)
  • UK PMI construction, Nov, (35.1)
  • EZ PPI, Oct, mm/y%ch, (7.9/-0.2)
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