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Forex News – Fewer jobs created in Australia, unemployment rate hits 12-year high

Posted on August 7, 2014 at 11:54 am GMT

The Australian unemployment rate surprisingly rose while the number of employed people during the month of July contrary to expectations for an increase. The jobless rate ticked up to 6.4%, the highest level in more than a decade, contrary to expectations for it to remain stable at 6.0%. According to data released by the Australian Bureau of Statistics (ABS) , the number of jobs created fell by 300 last month compared to analyst expectations for an increase of 12,000. The [..]

Forex News – Ukraine developments spook market

Posted on August 6, 2014 at 9:38 am GMT

News of intense fighting between the Ukrainian army and pro-Russian rebels in Eastern Ukraine as well as the buildup of Russian troops on the Russia-Ukraine border, depressed risk sentiment and boosted the allure of safe haven assets. It appears that Western sanctions against Russia, rather than leading to a de-escalation of the situation, could be having the opposite effect. The downing of the Malaysian Airlines flight over Eastern Ukraine has increased the tension between the European Union and Russia as [..]

Forex News – Reserve Bank of Australia keeps rates and outlook steady

Posted on August 5, 2014 at 10:17 am GMT

The decision by the Reserve Bank of Australia to keep interest rates unchanged was widely anticipated by all economists that were polled ahead of the decision. Rates were kept at a record low of 2.50% with the rationale that the economy would post modest growth rates without causing wage pressures and higher inflation. Steady rates were appropriate according to the RBA and this reinforced expectations that rates would remain unchanged for the foreseeable future – the next year or so [..]

Forex News – US jobs report causes pause in US dollar rally

Posted on August 4, 2014 at 10:08 am GMT

News that the number of net new jobs in July exceeded 200,000 for the sixth consecutive month, was a signal that the US labor market was now improving at a steady pace. Nonfarm payrolls came in at 209,000. This was however smaller than the 233 thousand increase expected by economists and significantly less than an upwardly revised 298 thousand gain during the previous month. In addition, the unemployment rate ticked up to 6.2% from 6.1% during June. It was the [..]

Forex News –Week Ahead: Central bank meetings, Chinese data kick off holiday month

Posted on August 1, 2014 at 1:50 pm GMT

Central bank meetings in Australia, the UK, Japan and the European Central Bank will attract the market’s attention the coming week, while Chinese Services PMI, trade figures and inflation will give insights into the situation of the world’s second largest economy. Next week will probably start the holiday period, which usually means markets that are more quiet and with less liquidity. However, some important shifts have taken place in markets in recent weeks such as the realization that the US [..]

Forex News – Eurozone inflation at lowest in 5 years

Posted on July 31, 2014 at 12:42 pm GMT

Inflation data from the Eurozone were released today for the month of July, showing a drop to well below the European Central Bank’s 2% target and to a five-year low. The consumer price index (CPI) came in at 0.4% , which was below expectations of 0.5% and down from 0.5% in June . This was the lowest level since October 2009. The core inflation rate which excludes energy, food, tobacco and alcohol costs, came in flat at 0.8% year-on-year. The [..]

Forex News – US growth rebounds to 4% in Q2 after dismal 1st quarter performance

Posted on July 30, 2014 at 1:42 pm GMT

The news that the US economy grew by 4% during the April-June quarter was a welcome rebound from the first quarter’s 2.1% contraction (revised from the 2.9% contraction announced previously). A 4% annualized growth rate represents a very healthy rate of growth – although part of it is inventory rebuilding as well as a rebound after the bad weather of the first quarter that created some pent up demand in certain sectors. Excluding inventories, the final sales measure of GDP [..]

Forex News – Japanese data show economy slowly healing from April sales tax hike

Posted on July 29, 2014 at 10:12 am GMT

Tuesday’s wide range of data out of Japan concerning retail sales, unemployment, household spending and job openings-to-applicants showed that the economy was slowly improving following the April sales tax hike shock. However the pace of improvement was a little slower-than-expected as some key indicators missed expectations. For example, household spending rose by 1.5% month-on-month versus expectations of a 2.2% increase. Still, this was an improvement from May’s 3.1% negative rate and April’s huge 13.3% contraction (the month of the tax [..]

Forex News – German IFO index slips to 9-month low on economic slowdown, geopolitics

Posted on July 28, 2014 at 1:48 pm GMT

The surprise drop in the German IFO business confidence index confirmed some worries that the Eurozone’s largest economy was going through a soft patch. Although analysts were expecting a slight fall in the index compared to June’s levels, the drop in the end was much more severe and it led the business climate index to a 9-month low of 108 compared to 109.7 the previous month. Both the current conditions’ index as well as the expectations’ index dropped by 1.9 [..]

Forex News – Week Ahead: Focus will be on FOMC and nonfarm payrolls

Posted on July 25, 2014 at 9:19 am GMT

The coming week has a busy economic calendar with important data releases due from the US, Europe and the UK. The US calendar will be particularly busy next week, with a slew of important data and events. At the beginning of the week, US pending home sales are due. The ADP jobs report is due on Wednesday and is sometimes looked at as a precursor for the nonfarm payrolls report. The FOMC meeting is on Wednesday. This will be a [..]

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