OBAMA TO TOUT ECONOMIC STRATEGY 

U.S. President Barack Obama will Friday step up his midterm election campaign and appeal to voters dismayed by the stuttering economy with his first White House news conference since May. (published 0728 GMT)

 
CHINA TRADE SURPLUS NARROWS; SURPLUS WITH US STILL HIGH 

China's trade surplus narrowed sharply to $20.03 billion in August, but its surplus with the U.S. accounted for 90% of the total, widening from about two thirds in July, government data showed Friday. (published 0346 GMT)

 
CHINA MINISTRY: AUGUST NATIONAL FISCAL REVENUE UP 7.3% 

China's national fiscal revenue rose 7.3% in August from a year earlier, the Ministry of Finance said Friday, leading to a CNY79.434 billion (US$11.74 billion) national fiscal deficit as fiscal expenditure grew faster. (published 0633 GMT)

 
JAPAN UNVEILS Y915B STIMULUS, URGES BOJ TO EASE FURTHER 

Japan's government Friday unveiled a Y915 billion stimulus package and turned up the heat on the central bank to work harder to stop deflation as policy makers try to help the export-dependent economy deal with a surging yen and a slowdown in overseas markets. (published 1002 GMT)

 
JAPAN'S ECONOMY MINISTER INDICATES RISK OF ECONOMY ENTERING LULL 

Japan's Economy Minister Satoshi Arai on Friday indicated that the country's economy may enter a lull later this year due in part to the sharp appreciation of the yen. (published 0649 GMT)

 
JAPAN GOVT: ECONOMY CONTINUES TO PICK UP; BASIC ASSESSMENT UNCHANGED IN SEP 

Japan's economy continues to pick up but the economic environment is becoming more severe, the government said Friday, warning that downside risks are increasing due to the yen's surge and declining share prices. (published 0544 GMT)

 
JAPAN LIFTS 2Q GDP AS FIRMS RAMP UP CAPITAL SPENDING 

The Japanese government Friday raised its reading for the country's second-quarter economic growth rate to an annualized 1.5% from the initial reading of a 0.4% rise thanks to continued improvement in corporate capital spending. (published 0214 GMT)

 
CHINA PROPERTY PRICES UNCHANGED FOR 2ND CONSECUTIVE MONTH 

Property prices in China were flat for the second consecutive month in August on a sequential basis but continued to increase from a year earlier, underscoring the challenge Beijing faces in trying to cool down the real-estate market following the tightening measures it announced earlier this year. (published 0602 GMT)

 
UK PRODUCER PRICES MARK LOWEST ANNUAL RATES IN 6 MONTHS 

U.K. producer prices marked their weakest annual rates of growth in six months in August, largely driven by a fall in the price of crude oil, data from the Office for National Statistics showed Friday. (published 0936 GMT)

 
UK TAX OFFICE CAN'T COLLECT NEW 50P RATE - REPORT 

The U.K. tax office isn't prepared to deal with the new 50p rate of income tax which came into effect in April, the Daily Telegraph reports Friday. (published 1039 GMT)

 
FRENCH INDUSTRIAL OUTPUT REBOUNDS BUT ECONOMISTS CAUTIOUS 

French industrial production rose well above expectations in July but economists remain cautious on the fate of France's industrial sector in coming quarters. (published 1035 GMT)

 
FRANCE TARGETS 2011 STATE BUDGET DEFICIT AROUND EUR96B -REPORT 

France aims to bring its state budget deficit to EUR96 billion in 2011 from an expected EUR152 billion this year, French daily Le Figaro reports Friday without citing sources. (published 0737 GMT)

 
FRENCH CAR MAKERS REPAY EARLY EUR1B OF GOVT LOANS 

French car makers PSA Peugeot Citroen (UG.FR) and Renault SA (RNO.FR) Friday announced that they had each repaid one-third of the EUR3 billion in emergency loans they received from the French government in April 2009, a step toward closing their books on the recession. (published 1048 GMT)

 
DATA SNAP: SPAIN AUG CPI +1.8% ON YEAR, VS +1.9% IN JULY 

Spanish consumer price inflation eased slightly in August as transportation and housing prices rose less than in July, Spain's National Statistics Institute, or INE, said in a statement Friday. (published 0700 GMT)

 
SPAIN PM: NO NEW AUSTERITY MEASURES NECESSARY 

Spain doesn't need to take new austerity measures to cut its high budget deficit and shore up confidence in its economy, Prime Minister Jose Luis Rodriguez Zapatero said Friday. (published 0729 GMT)

 
SPAIN PM: NO PLAN FOR MAJOR GOVERNMENT SHAKEUP 

Spanish Prime Minister Jose Luis Rodriguez Zapatero denied Friday he is preparing a wide-ranging government shakeup after Labor Minister Celestino Corbacho announced his intention to leave the government. (published 0810 GMT)

 
GREEK BUDGET DEFICIT DOWN 32.2% IN JANUARY TO AUGUST 

The Greek budget deficit for the period from January through August fell 32.2% year-on-year to EUR14.49 billion, ahead of a targeted cut of 26.5%, the country's finance ministry said Friday. (published 1034 GMT)

 
GREECE JUNE UNEMPLOYMENT 11.6% VS 12% IN MAY 

The Greek unemployment rate eased to 11.6% in June from 12.0% in May but was up sharply from 8.6% a year earlier, the statistics service ELLSTAT said Friday. (published 0934 GMT)

 
DATA SNAP: INDIA JULY INDUSTRIAL OUTPUT UP 13.8% ON YEAR 

India's industrial output grew 13.8% on year in July, compared with a 7.2% rise last year, government data issued Friday show. (published 0538 GMT)

 
BOJ ALREADY WORRIED ABOUT YEN IN EARLY AUG, MINUTES SHOW 

The Bank of Japan's policy board members were already becoming increasingly concerned about the rising yen at their regular meeting in August, the meeting minutes released Friday showed. This growing discomfort foreshadowed the central bank's decision to ease policy further at an emergency meeting later in the month. (published 0420 GMT)

 
5-YEAR JGB SALE WEAK AS BOND OVERBOUGHT EARLIER 

An auction of 5-year Japanese government bonds did not go as smoothly as expected Friday as demand tapered off after many investors had already bought the maturity in the morning session. (published 0518 GMT)

 
PHILIPPINES SELLS $1B GLOBAL PESO BOND; SEES STRONG DEMAND 

The Philippine government on Thursday raised the equivalent of $1 billion through the sale of its first ever peso-denominated global bond, attracting investors with a yield of 5%, according to bankers close to the transaction. (published 2238 GMT)

 
    ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ======= 
 
EUROPEAN INTEREST RATE TECHNICALS: BOND BEARS IN CONTROL 

Intraday BUND: Bear pressure is building on the Sep. 3 reaction low at 130.24, following Thursday's sharp setback. A break below there is looking likely, exposing the 1.618 extension target at 130.01, and potential for the 50% retracement level at 129.65. Regaining ground above 131.01 would provide temporary respite, but only above 131.69 would lift the tone. Weekly chart BUND trend: Range. (published 0629 GMT)

 
EUROPEAN FOREX TECHNICALS: EUR/USD BEAR THREAT TO EXTEND 

Intraday EUR/USD: Bear pressure is looking to extend towards the pivotal 1.2500 support area following the probe below 1.2659 Friday. A lower high at 1.2767 has been confirmed, and a break below support at 1.2642 is required to set bear momentum increasing, exposing 1.2625 and the August 24 reaction low at 1.2588. 1.2588 is the last line of defence protecting 1.2500. Only a break above 1.2737 would re-open the 1.2767 lower high. Weekly chart EUR/USD trend: Range. (published 0619 GMT)

 
FOCUS: RUDD LOOMS OVER GILLARD'S MINISTRY DECISIONS 

As Australian Prime Minister Julia Gillard gets ready to name her Cabinet, all eyes are on the post of the foreign affairs minister. (published 0506 GMT)

 
MONEY TALKS: FIX CONSUMER DEBT RELIEF, FIX THE ECONOMY 

When Joe Bonadio negotiated a 69% reduction in $54,000 of credit card debt this year, his most valuable tool was a caller ID box with ring controller made by JF Technical Developing Co. (published 1956 GMT)

 
FOREX OPTIONS: DOLLAR/YEN OPTIONS DOWN AS DOLLAR STABILIZES VS YEN 

Dollar/yen options declined in Tokyo Friday, as demand eased for protection against fluctuations and further falls in the exchange rate with the dollar stabilizing slightly above where it was against the yen in New York late Thursday. (published 0454 GMT)

(END) Dow Jones Newswires

September 10, 2010 07:06 ET (11:06 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.