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Forex News – Euro falls after weak Spanish jobs numbers

Posted on February 4, 2013 at 9:13 am GMT

The euro fell 0.3 percent against the dollar within an hour of disappointing Spanish jobs data which showed the number of people unemployed in Spain rose by 2.7 percent in January. According to Spain’s Labour Ministry this brings the total number of Spaniards out of work to 4.98 million people. Spain is the fourth-largest economy in the euro zone. Last month the Spanish National Statistics Institute reported an unemployment rate of 26 percent in the fourth quarter of 2012 with [..]

Forex News – USDJPY tumbles after US nonfarm payrolls report

Posted on February 1, 2013 at 2:51 pm GMT

USDJPY fell after the US nonfarm payrolls data, falling as low as 91.86 from 92.22 before the data. Non-farm payrolls rose 157,000 in January, which was close to expectations but the dollar was mainly sold off due to the 0.1 percentage point uptick in the unemployment rate to 7.9 percent from 7.8 percent. The unemployment rate was expected to hold steady. Some economists had forecasted 160,000 jobs to be created. However revisions were made to the November and December payrolls. [..]

Forex News – EURGBP jumps after manufacturing PMI from UK and EZ

Posted on February 1, 2013 at 10:16 am GMT

The euro surged higher against the British pound in early Friday European session trading after manufacturing data from the UK and Europe . The purchasing Manager’s Index for the manufacturing sector in the euro zone contracted at the slowest pace in 11 months in January which was positive for the euro. According to Markit which complied the data, the PMI index ticked up in January to 47.9 from December’s 46.1, coming in above an earlier estimate of 47.5. The 50-point [..]

Forex News – China’s manufacturing sector shows moderate growth

Posted on February 1, 2013 at 8:53 am GMT

China’s manufacturing sector appears to be steady after months of slow growth but the rebound is still quite shallow accruing to data released on Friday. There were two separate Purchasing Manager’s Index surveys released by two rivals, giving mixed data. One PMI was reported by HSBC, which gave a final reading of 52.3, which is a two year high. The other PMI was an official report from the Chinese government which showed PMI actually fell in January to 50.4 from [..]

Forex News – US jobless claims rise but incomes improve

Posted on January 31, 2013 at 2:53 pm GMT

More Americans filed for jobless claims in the week of January 26, up 38,000 to a total of 368,000, more than the consensus of a 20,000 increase to 350,000. Dollar fell slightly after the data but losses were limited since the overshoot was not as much and is consistent with the growth trend, albeit slow. Also helping offset the data was an upbeat report on incomes which rose in December by the most in eight years, giving mildly positive signs [..]

Forex News – German retail sales fall to 19-mth lows

Posted on January 31, 2013 at 9:37 am GMT

The euro held steady against the dollar early in the European session on Thursday even after poor economic data from Europe’s largest economy, Germany. German retail sales plunged to 19-month lows, dropping 1.7 percent on a monthly basis, the worst since May 2011. Its fell 4.7 percent on an annual basis to the lowest since May 2009. Both results were worse than forecast of a decline of 0.1 percent on the month and 1.6 percent on the year. The disappointing [..]

Forex News – US GDP contracts to worst since 2009

Posted on January 30, 2013 at 9:19 pm GMT

US GDP growth contracted by 0.1 percent in the fourth quarter of last year, to the worst since 2009. The number surprised markets because even though economists did expect growth to be slow, they did not expect a negative number, but had forecast a 1.1 percent growth rate, down from the previous 3.1 percent. This last quarter’s GDP is the worst since 2009. Much of the factor weighing on growth was a large drop in defense spending which fell by [..]

Forex News – Euro surges above $1.35

Posted on January 30, 2013 at 10:04 am GMT

EURUSD finally broke above the key $1.35 resistance level in Wednesday’s European session. The pair had been confined in a tight 30-pip range in the last two sessions due to light news flow, but remaining buoyed against a broadly weaker US dollar. The uptrend appears to be holding strong for the pair in the near term. The dollar suffered a setback in yesterday’s US session after a disappointing US consumer confidence report. Meanwhile, investors are being cautious ahead of the [..]

Forex News – German consumer sentiment rises

Posted on January 29, 2013 at 10:35 am GMT

Euro is keeping steady against the dollar on Tuesday, remaining in a range since Friday, and showed little change after today’s German consumer sentiment data. The GFk Consumer climate index was released early in the European trading session, showing a rise for the first time in four months heading into February. It rose to 5.8 going into February from an upwardly revised 5.7 in January. It gives evidence that concerns over the euro zone debt crisis are fading and Germans [..]

Forex News – Aussie rebounds on improved business confidence

Posted on January 29, 2013 at 9:27 am GMT

Australian dollar bounced from month lows against the US dollar on Tuesday after being boosted by a report showing a strong rebound in Australian business confidence. Data showed that business morale improved as local businesses embraced signs of recovery in the global economy. A survey by the National Australia Bank (NAB) showed an increase in the index to plus 3 points in December, which much better than the previous level of minus 9 in November. The sharp movement in the [..]

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