Forex Previews

Forex news – A week for reflection and US retail sales

Posted on December 9, 2013 at 3:55 pm GMT

The week ahead will be a relatively quiet affair compared to the headline-grabbing ECB meeting and nonfarm payrolls of the previous week. It will be a very good opportunity for traders and investors to assess and digest recent data and the overall situation concerning economies and central bank moves. The main question hanging in the air of course will be whether the Federal Reserve decides to surprise markets with a reduction in asset purchases – the so-called tapering – during [..]

Forex News – December taper chances higher following strong jobs report

Posted on December 6, 2013 at 2:38 pm GMT

[caption id="attachment_11856" align="alignnone" width="550"] US nonfarm payrolls, unemployment[/caption] The US November employment report, which was released today, again surprised on the upside just as October’s report did. Nonfarm payrolls grew by 203 thousand versus expectations of a gain of 180 thousand. October’s number was revised slightly lower to 200 thousand against 204 thousand initially reported. There were strong job gains in almost every category; from manufacturing (+27k), to construction (+17k), to retail (+17k) as well as the public sector (+7k). [..]

Forex News – Draghi hints at more action but nothing specific

Posted on December 5, 2013 at 3:02 pm GMT

The press conference of the ECB President Mario Draghi was one of the most keenly awaited events of the week. The lack of clarity and the insistence of Draghi not to mention any specific new measures to help the economy – even in the sphere of future possibilities – disappointed those who were hoping for a more proactive ECB. Even the need for a future LTRO (Long Term Refinancing Operation) was questioned by Draghi, as he said that the ECB [..]

Forex News – Australian economy grows at slower pace in Q3

Posted on December 4, 2013 at 12:45 pm GMT

GDP data released today showed Australia’s economy expanded at a slower pace than expected in the third quarter suggesting that the natural resources-rich country is facing some headwinds. Contributing factors that affect the growth picture in Australia have been in part due to a slowdown in China, which is Australia’s biggest trading partner, while the end of the massive mining boom has had a major role too. According to a GDP report released by the Australian Bureau of Statistics today, [..]

Forex News – ISM manufacturing index rises for 6th straight month in November

Posted on December 3, 2013 at 2:33 pm GMT

The US manufacturing sector grew in November, lifting the Institute of Supply Management (ISM) manufacturing index for a 6th straight month from the low of the year in May. The ISM survey showed that US manufacturing expansion quickened in November to 57.3 from 56.4 in October and beat a forecast of 55.2. This was the fastest pace of increase in 2-½ years since April 2011. The ISM data is a gauge of sentiment among factory purchasing managers. The manufacturing sector [..]

Forex News – Busy week ahead to reach crescendo with US employment report

Posted on December 2, 2013 at 9:31 am GMT

It will be quite a busy week, full of economic data, releases and central bank events and speeches; in contrast to the relatively quiet previous week that featured the Thanksgiving holiday. Starting with Monday, November Manufacturing PMI business confidence survey data were released better-than-expected from the Eurozone and the United Kingdom. Later during the day, the respective survey from the United States will come out. The ISM manufacturing number from the the US will also be released later on. The [..]

Forex News – Euro zone unemployment falls for first time in 4-years

Posted on November 29, 2013 at 1:00 pm GMT

Unemployment in the Euro zone has hovered above 12% since the beginning of this year. Data released by Eurostat today show that the jobless rate fell in October to 12.1% from the prior month’s record high 12.2%. This was slightly below expectations for the rate to remain unchanged. This is the first time in three years that unemployment has fallen in the 17 countries of the Euro zone. The last decline was in early 2011 when unemployment fell to just [..]

Forex News – Merkel succeeds in forming grand coalition with SPD

Posted on November 27, 2013 at 12:32 pm GMT

An accord was made between Germany’s two biggest parties early on Wednesday, to form a coalition government between German Chancellor Angela Merkel’s conservative Christian Democrats (CDU) – including its Bavarian sister party, the Christian Social Union – with the Social Democrats (SPD). The deal was finally concluded after a marathon meeting which began on Tuesday until the early hours on Wednesday. The deal brings to a close talks which essentially began after the German federal elections in September, which Merkel [..]

Forex News – Dollar up against yen after US housing permits hit 5-year high

Posted on November 26, 2013 at 2:32 pm GMT

The dollar rose against the yen after data showed an increase in building permits for home construction issued in October, hitting a 5-year high. The US Commerce department published the report with a 7-day delay due to the US government shutdown in October. Figures show building permits jumped 6.2 percent in October to a 1.03 million annualized rate compared to 974,000 in September, reaching the highest level since June 2008. Forecasts were for a 930,000 increase. Meanwhile, August permits were [..]

Forex News – The week ahead: giving thanks for not tapering yet

Posted on November 25, 2013 at 12:27 pm GMT

The main event of the week ahead will be a holiday; Thanksgiving Thursday in the United States. The holiday also signals the start of the Christmas retail season in the world’s largest economy, as big retailers will open for business on Thursday night with special offers aimed at attracting shoppers. Wednesday will be a very busy day for US economy-watchers, as the week’s data releases will need to be released before everyone rushes off to eat their traditional turkey and [..]

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