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Significant News of 2010:August 5 - Russia announced a temporary ban on grain exports due to drought. July 23 - 84 of 91 European banks examined pass the stress test with results that were better than expected. July 22 - Several positive earnings reports in the U.S. give markets a lift. Also, the Euro zone's composite index of purchasing managers hits its highest level in three months. July 9 - Canada adds 93,200 jobs in June, much more than expected, one day after Australia added 45,900 jobs in June, also much more than expected. July 6 - Drought concerns increase for Russia's wheat crop. Dry conditions also in Europe. June 28 - G-20 members pledge to cut their budget deficits in half by 2013. June 21 - China announced that it will allow greater flexibility in the price of the yuan. June 14 - Euro zone industrial production was up 9.5% in April from a year ago, the biggest annual gain in any month since records began in 1991. June 1 - Canada became the first G7 member to raise its interest rate since the financial crisis of 2008. May 27 - China voiced its support for Europe. No plans to reduce holdings of European bonds or the euro. May 7 - A spokesman for Cutrale in Brazil estimated that Brazil's orange crop will total 286 million boxes this year, down from 305 million boxes last year and the lowest in seven years. May 6 - Greece's Parliament approves budget that allows aid from Europe and the IMF. April 27 - Standard and Poor's lowered Greece's credit rating from BBB+ to BB+ with a negative outlook. April 20 - India stopped exporting cotton yesterday in an effort to protect domestic supplies. April 16 - The U.S. sued Goldman Sachs for securities fraud. March 2 - Japan's unemployment rate improved from 5.2% to 4.9% in January, the lowest in ten months and much better than expected. The economy added 540,000 jobs, the biggest monthly gain since 1973. February 22 - Analyst with Illycaffe Spa told Bloomberg news that Brazil's coffee crop was in surprisingly good shape and may total a record high 55 million bags this year. February 10 - Federal Reserve Chairman Bernanke warned that the discount rate would soon be raised, but tried to downplay its importance. January 21 - Brazil Ag official estimates the upcoming coffee crop at a lower 39 million bags due to recent heavy rains. January 12 - China surprised the markets and raised its bank reserve requirement from 15.5% to 16.0% in an attempt to restrain the economy. |
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