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Forex News – USDJPY jumps after upbeat US jobless claims report

Posted on September 19, 2013 at 12:52 pm GMT

The dollar jumped against the yen after US initial jobless claims data came in better than expected when released on Thursday. Data from the US Labor Department showed that the number of Americans filing new claims for unemployment benefits increased 15,000 to a seasonally adjusted 309,000 for the week ending September 14. This was well below the consensus forecast of 330,000 and below the prior week’s 294,000 claims. However, the Labor Department says that two states were still processing a [..]

Forex News – Sterling falls after UK retail sales decline in August

Posted on September 19, 2013 at 9:51 am GMT

Sterling fell against the dollar from an eight month high after UK retail sales data for August came in less than forecast. According to data, retail sales excluding fuel in August fell by 0.9 percent month over month compared to expectations of a 0.4 percent increase. The annual rate of growth slowed to 2.1 percent from July’s 2-1/2 year high of 3.0 percent. The data indicates that consumers reined in spending, particularly on food. This is interesting [..]

Forex News – US housing starts below forecast in August

Posted on September 18, 2013 at 1:32 pm GMT

US housing starts rose less-than-expected last month, official data showed on Wednesday. According to data from the Census Bureau, the number of housing starts rose 0.9 percent in August to 891,000 from 883,000 in the preceding month whose figure was revised down from 896,000. Expectations were for the number of housing starts to rise to 917,000. The housing starts data here is an Annualized number of new residential buildings that began construction during the previous month. This data is slightly [..]

Forex News – Sterling surged to 8-month high after BoE minutes

Posted on September 18, 2013 at 9:15 am GMT

Sterling jumped to an 8-month high against the dollar on Wednesday after the release of the Bank of England policy meeting minutes. The central bank’s policy makers from the Monetary Policy Committee (MPC) signalled that they see no need for more stimulus amid growth in the UK economy. The minutes from the September 3-4 policy meeting showed that all MPC members voted unanimously to keep policy unchanged this month as recent strong UK economic data pointed to an improving economic [..]

Forex News – US inflation slows down, could affect Fed decision to taper

Posted on September 17, 2013 at 1:13 pm GMT

Inflation in the United States rose less than forecast in August, a sign it will take time for inflation to reach the Fed’s target inflation rate of 2 percent and could affect its decision to start tapering stimulus. The Federal Reserve Open market Committee concludes a two day meeting on Wednesday. Normally the FOMC would remove not policy accommodation in an environment where inflation is below target and is in danger of causing disinflation. A decision by the Federal Reserve [..]

Forex News – German ZEW tops expectations and lifts euro

Posted on September 17, 2013 at 9:55 am GMT

The euro was buoyed by news that Euro zone investor sentiment on the region’s economy rose to 58.6 in august from 44.0 and beating forecasts of 47.2. Also German investor sentiment is at its highest level since Apr 2010. The closely watched ZEW index of economic sentiment rose more than expected in September to 49.6 (46.0 was forecast) and up from 42.0 in August. “The financial market experts hold the view that the German economy is still gaining momentum,” said [..]

Forex News – Sterling weakens after UK inflation data lower than forecast

Posted on September 17, 2013 at 9:16 am GMT

UK inflation data were released today with the headline number slightly lower than forecast, causing the sterling to fall. As the risk of accelerating inflation is absent, the Bank of England will have no problem leaving interest rates at record lows. Lower rates tend to weigh on the currency. August CPI (consumer price inflation) rose at 0.4 percent on a monthly basis, which was lower than the 0.5 percent that was expected and is the lowest monthly increase for August [..]

Forex News – Janet Yellen versus Larry Summers

Posted on September 16, 2013 at 1:47 pm GMT

Markets were shocked on Monday after the news of Larry Summers pulling out of the race for the head of the U.S. Federal Reserve post. Summers, who is former U.S Treasury Secretary, was seen as the front runner for the post, set to replace outgoing Ben Bernanke in January 2014. Equity markets rallied while the U.S. dollar was sold off. Summers was viewed as an advocate for tighter monetary policy. Now his withdrawal means the next candidate coming to [..]

Forex News – US Consumer Confidence falls to five-month low

Posted on September 13, 2013 at 2:24 pm GMT

After disappointing U.S. Retail Sales data on Friday, the Thomson Reuters/University of Michigan consumer confidence index was released with not so good numbers as the index fell to the lowest in five months. This raises concerns about America’s consumers who seem to be feeling increasingly wary about the economic recovery. The Thomson Reuters/University of Michigan consumer confidence index fell in August from 82.1 to 76.8 this month. The number was less than expected and is also the worst reading since [..]

Forex News – USDJPY tumbles after disappointing US Retail Sales

Posted on September 13, 2013 at 1:36 pm GMT

The U.S. retail sales report for August was released today, showing a less than expected increase from July and the weakest gain in four months. According to the BLS report, growth in retail sales was a little softer with the headline number up only by 0.2 percent, compared to July’s 0.4 percent and lower than the 0.5 percent forecast. Meanwhile Core Retail sales, which excludes autos sales, rose by a mere 0.1 percent, which was less than the 0.3 percent [..]

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