Next Week News

Australia's gross domestic product expanded a seasonally adjusted 1.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday.

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The unemployment rate in Australia climbed to a seasonally adjusted 5.9 percent in February, the Australian Bureau of Statistics said on Thursday.

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British Prime Minister Theresa May will invoke the Article 50 of the Lisbon Treaty next Wednesday, March 29, thus formally beginning the process of exiting the European Union.

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The United Kingdom began the formal process of exiting the European Union on Wednesday after more than four decades of membership, thus entering uncharted territory for negotiations that is set to last two years. Prime Minister Theresa May's historic letter invoking the Article 50 of the Lisbon Treaty was delivered to the European Council President Donald Tusk in Brussels.

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The private sector in Hong Kong continued to contract in March, albeit barely, the latest survey from Nikkei revealed on Thursday with a PMI score of 49.9.

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Employment in the U.S. rose by much less than anticipated in the month of March, according to a report released by the Labor Department on Friday, although the unemployment rate still fell to its lowest level in almost ten years.

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A slowdown in the pace of trade reform since the early 2000s, a post-crisis uptick in protectionism, and the risk of further reversals have weakened trade, productivity, and income growth in the global economy, a joint report by the International Monetary Fund, the World Bank and the World Trade Organization warned on Monday.

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No major trading partner of the United States was named a currency manipulator in a latest Treasury report on the foreign exchange policies of these countries, though a list including six countries whose polices were deemed to require close monitoring was left unchanged.

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The counting of votes is underway on Sunday in a crucial referendum to give expanded powers to President Recep Tayyip Erdogan that is set to influence the country's future dramatically, and initial results suggest that the 'Yes' vote is leading.

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British Prime Minister Theresa May on Tuesday announced a snap general election for June 8.

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