forex news

Forex News – Soft UK inflation pressures sterling

Posted on August 19, 2014 at 9:49 am GMT

UK inflation data released today pushed sterling lower as the softer numbers will likely ease pressure on the Bank of England to raise interest rates soon. The headline inflation number came in well below the BoE’s target 2% rate. According to the Office for National Statistics the Consumer Price Index (CPI) for July rose 1.6% year-on-year. The drop was more-than-expected, as analysts had forecast a decline to 1.8% from June’s 1.9%. On a month-to-month basis, consumer process fell 0.3%. The [..]

Forex News – Week Ahead: All eyes on Jackson Hole Symposium

Posted on August 18, 2014 at 9:50 am GMT

The meeting of world central bankers at the Jackson Hole Symposium this week will be the main focus of the markets, particularly on Friday when Fed Chair Janet Yellen gives her keynote speech. Investors will look out for any clues on the timing of interest rate rises by the Fed, which has kept rates at near zero in an effort to help spur recovery in the US economy. Other central bank speakers at Jackson Hole include European Central Bank Chief [..]

Forex News – German economy contracts in Q2, drags Eurozone growth down

Posted on August 14, 2014 at 11:03 am GMT

The Eurozone economy stalled in the second quarter of the year, after a surprise contraction in Germany and weakness in the French economy dragged overall gross domestic product figures. The Eurozone was expected to grow by at least 0.1%, a slightly slower rate than a prior 0.2%. The zero growth rate raised concerns about the state of the economic recovery in the 18-nation region, which is likely to be impacted negatively by the Ukraine crisis and the sanctions against Russia, [..]

Forex News – Flat US retail sales in July places dollar under pressure

Posted on August 13, 2014 at 3:17 pm GMT

The dollar tumbled against the yen and other major counterparts and US Treasuries reversed earlier gains following a soft US retail sales report on Wednesday. According to a report from the US Commerce Department, retail sales missed forecasts in July and fell short of the 0.2% projections to remain flat from June’s 0.2% increase. The catalyst behind the drop was the decline in auto sales for a second straight month. Also lagging were sales of furniture and electronics and appliances. [..]

Forex News – Canadian job market shows signs of trouble

Posted on August 11, 2014 at 12:33 pm GMT

Canada released its employment report on Friday showing that a mere 200 new jobs were created in July, highlighting the nation’s struggling job market. The drop in job creation was a hug surprise since forecasts were for the Canadian economy to add 20,000 jobs, which would have been an improvement from June’s unexpected decline of 9,400. However, despite the drop in the job creation rate, the unemployment rate fell as well. The main reason behind this was due to a [..]

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 – 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 [..]

Forex News – Week Ahead – PMIs will be the main focus

Posted on July 18, 2014 at 10:05 am GMT

In the coming week economic data will focus on PMIs (Purchasing Managers Index) from various countries. Starting with the Eurozone, PMIs will be released on Thursday, with focus being on the larger Eurozone economies of Germany and France. All surveys will be flash readings from Markit on both manufacturing and services PMIs and tend to have more impact than the final readings. PMI data are important to watch as they can sometimes have a strong impact on the euro. The [..]

Forex News – European elections show rise of extreme parties, eurosceptics

Posted on May 26, 2014 at 9:56 am GMT

The European elections of May 22-25 were held in order to elect to the 751 members of the European Parliament; the legislative body of the European Union. The European Parliament’s powers have increased recently, as it will elect the Commission President, but it is perceived to be much less influential compared to national parliaments and the European Council of heads of state. The elections were about the impact economic stagnation and high unemployment would have on Europe’s politics. The results [..]

Forex News – Chinese manufacturing activity expands the most in 5-months

Posted on May 22, 2014 at 8:25 am GMT

Manufacturing activity in China showed signs of growth in May, helping lift risk appetite in markets today. The upbeat reading on China’s purchasing managers index (PMI) blunted some of the recent concerns of slowing growth in the world’s second-largest economy. A survey compiled by HSBC and Markit showed that a preliminary reading of the PMI rebounded in May to hit a five-month high of 49.7, up from 48.1 in April. The PMI indicator is designed to provide a snapshot of [..]

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