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Forex News – Canada’s inflation remains steady

Posted on October 19, 2012 at 1:42 pm GMT

Canada released CPI data today, showing that consumer prices did not ruise as much as expected in September as inflation remained steady. Statistics Canada reported that annual CPI remained unchanged at 1.2 percent, matching the prior month. Expectations were for the headline inflation rate to tick up to 0.3 percent but there were also few signs of price pressures in the future. The current inflation rate is the lowest level in more than two years. Although there were gains in [..]

Forex News – Highlights from EU Summit

Posted on October 19, 2012 at 11:57 am GMT

The following are highlights of comments made by EU leaders and officials after the EU Summit meeting in Brussels over the past two days. The main outcome of the meeting was the agreement on establishing a single bank regulatory body that will be led by the European Central Bank to “supervise” over the banks of the 27 euro zone member countries. The issue of Spain requesting financial aid was not dealt with at the meeting. Spain has yet to make [..]

Forex News – EU leaders agree to establish ECB-led bank supervisor

Posted on October 19, 2012 at 8:50 am GMT

European Union leaders meeting in Brussels for a two-day summit from October 18 – 19, have one main issue on their agenda. This is to create a single banking supervisor for the euro zone to oversee all 6,000 euro zone banks, within the European Central Bank framework. After meeting for almost ten hours last night, the leaders of the 27 member countries of the single currency area agreed to put into force this supervisory mechanism in 2012. EU leaders agreed [..]

Forex News – Euro dips after US jobless claims rise

Posted on October 18, 2012 at 1:41 pm GMT

The euro dipped against the dollar immediately after disappointing US jobless claims numbers. Americans filing new claims for unemployment benefits rose last week to 388,000, reversing a sharp decline in the prior week 342,000. Expectations were low though, and a rise was expected to 367,000. The only positive out of today’s data is that at least the increase in claims was less than forecast, pointing to a US labour market that is slowly healing. The US data overshadowed the good [..]

Forex News – Pound jumps after strong UK retail sales

Posted on October 18, 2012 at 9:33 am GMT

Sterling was boosted after better than expected UK retail sales data, giving hope that household spending by British consumers may help keep the economy on track for recovery. The Office for National Statistics reported that in September retail sales rose 0.6 percent versus the 0.4 percent predicted. This figure was up from August’s 0.1 percent drop. These monthly sales volumes include automotive fuel, although sales excluding fuel also increased. They were up 0.6 percent on the month and were 2.9 [..]

Forex News – Canadian dollar surges after better US housing numbers

Posted on October 17, 2012 at 1:43 pm GMT

The Canadian dollar surged against the greenback after improved US housing data today. This pressured USDCAD down to 0.9817 within minutes from where it was trading before the news at 0.9839. Housing starts beat forecasts and jumped 15 percent and building permits increased by 11.6 percent. The September numbers were the highest in four years, since July 2008, indicating that the once sluggish US housing market in on the road to recovery. On Monday, US retail sales report showed a [..]

Forex News – Sterling jumps after UK employment rises to record high

Posted on October 17, 2012 at 8:59 am GMT

The pound jumped against the dollar after a UK employment report showed the number of Britons claiming unemployment benefits fell more than expected by 4,000 last month versus the 200 forecast. Much of the boost was probably due to increased hiring by the London Olympics. Meanwhile, the employment level in the UK rose to the highest on record, climbing to 29.590 million. This helped reduce the ILO unemployment rate to 7.9 percent, compared with expectations for 8.1 percent. This indicates [..]

Commodity News – Gold continues to advance due to weaker dollar

Posted on October 17, 2012 at 8:41 am GMT

Gold prices continued to move higher today, advancing since Monday. The yellow metal had tumbled to a one-month low on Monday to touch $1,728.28 a troy ounce but rose quickly to regain losses after being boosted by improved US data. On Monday, the US retail sales report for September was released, indicating a surprise increase of 1.1 percent, better than the expected 0.7 percent. Also August numbers were revised upwards to 1.2 percent. The data gave a much needed boost [..]

Forex News – Euro zone exports increase while inflation falls

Posted on October 16, 2012 at 11:39 am GMT

A series of economic data from the euro zone were released today, helping the euro rise higher during the European trading session. A trade balance report for August showed that exports from the euro zone increased sharply in August, rising by 3.7 percent from July. This brings the seasonally adjusted trade surplus rose to 9.9 billion euros from a previous 7.2 billion euros, the largest since the euro was created in 1999. The rise in exports is good news for [..]

Forex News – UK inflation falls to near 3-year low

Posted on October 16, 2012 at 9:06 am GMT

UK inflation data were released today, showing the September CPI (Consumer price inflation) rate recorded its lowest level in almost three years. Much of it is due to falling gas and electricity prices in comparison to last year. According to data compiled by the UK Office for National Statistics, annual CPI printed a 2.2 percent rise last month as expected. This was the lowest increase since November 2009. This was lower than the August CPI which stood at 2.5 percent. [..]

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