Declining Unemployment Claims

The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labor market was deteriorating after April's weak employment growth. While the claims data indicated the economy remained on a moderate growth path, a report from the Commerce Department showing a widening in the trade deficit in March suggested economic growth was much slower in the first quarter than initially believed. New claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 367,000, the Labor Department said on Thursday. The prior week's figure was revised up to 368,000 from the previously reported 365,000. Economists polled by Reuters had forecast claims inching up to 369,000 last week. The four-week moving average for new claims, considered a ...

www.sunbirdfx.com Wall Street shed 0.70% yesterday on the background of mixed data. Continuing jobless claims were better than expected with 365K unemployment claims, whereas ISM manufacturing PMI was under Wall Street expectations. It seems that the NASDAQ index, which led the markets during the recent rally, is now the index that pulls the markets down, as the industry index, Dow Jones, has already reached the annual highs. AUD/USD The investors have waited for today since the beginning of the week to see the results of the Non-Farm payroll change, but according to the ADP data from Wednesday, they might get disappointed. Analysts' estimation for this data is 173K new jobs that the American economy created comparing to 120K on the previous data. The Australian dollar has been sliding ...

www.sunbirdfx.com The US stock markets closed the trading day on the red territory, which was expected after the sharp rising on Tuesday. The main test for the indices is whether they can resume rising or continue declining, and if they slide under yesterday's low, it will be a strong bearish signal for the stock market. Today's main event is the results of the Bank of America (BAC) and economic data such as continuing jobless claims, existing home sales and Philly manufacturing index. GBP/USD The correction in the stock markets did not help the USD against most of the major currencies that continued strengthening against the American dollar. The pound investors were encouraged by improving economic data regarding the British economy, such as lower unemployment rate and lower ...

Fundamental Analysis EUR The factory executive rose to 96 in March from 93 in February, after the French Ministry of Finance rose its 2012 economic growth forecast to 0.7% yesterday. Experts believe tha raise will significantly help the current president Sarcozy in his election battle. USD Nike has announced higher profits in the last quarter due to strong demand that offset increasing production costs. Profit of the sportswear producer in the last quarter that ended in February soared by 7% year-to-year, attaining 560 million US Dollars on the 15% increase in total revenues. The economic climate stays highly uncertain but we are optimistic about the company perspectives, said Mark Parker, the President of Nike. GBP The nationwide consumer sentiment index declined unexpectedly in ...

(Reuters) - Oil prices plunged nearly $2 per barrel and global stocks retreated from recent highs on Thursday as a manufacturing contraction in China and in the two largest economies of the euro zone fueled worries about global growth. U.S. Treasuries prices and the dollar rose as risk aversion increased, although fresh evidence that the U.S. labor market continues to strengthen tempered investors' bid for safety. China, the world's second-biggest economy and a key driver of growth, said its manufacturing sector shrank for a fifth straight month in March. A senior government economist said the economy is facing more downward pressure than had been expected. In the euro zone, a recession seemed unavoidable after Germany and France reported unexpectedly sharp declines in manufacturing ...

(Reuters) - Oil prices plunged more than 2 percent and global stocks retreated from recent highs on Thursday as a contraction in manufacturing in both China and in the euro zone's two biggest economies fueled worries about global growth. U.S. Treasuries prices and the dollar rose as risk aversion increased, although fresh evidence the U.S. labor market continues to strengthen tempered investors' bid for safety. China, the world's second biggest economy and a key driver of growth, saw its manufacturing sector shrink for a fifth straight month in March. A senior government economist said the economy is facing more downward pressure than had been expected. In the euro zone, a recession seemed unavoidable after Germany and France reported unexpectedly sharp declines in manufacturing ...

The Weekly Bottom Line : 16/03/2012 HIGHLIGHTS OF THE WEEK United States Market participants are clearly trading on what everyone else seems to be feeling: the recovery is back. But the Fed, for its part, is not yet willing to admit that the economy has entered a new, stronger phase. Though the quickening pace of job growth is a positive sign, disposable income growth is still stagnant, and the recent run-up in commodity prices threatens to erode consumer spending growth. Europe's troubles haven't gone away. If market sentiment get's too far ahead of itself, the Fed may be tempted to fight back with another round of asset purchases. But if rising borrowing costs are a product of a stronger recovery then the Fed should be less concerned. Increased spreads may actually be ...

Cheerful jobless claims and business conditions along with subdued prices pressures are expected to be shown today in the U.S Today several data and indexes are to be released regarding the labor and manufacturing markets of the superpower to most probably show once again that enhanced labor & business conditions continue on supporting economic growth while that prices pressures continue on being subdued and the banking sector is gaining momentum as seen throughout the stress tests that were revealed yesterday. If truth be told throughout this past period the major pillar behind the constant moderate revival of the country that boosted growth as well is the business conditions as seen within prior earnings released by huge known U.S corporations and also throughout several data regarding ...

Dukascopy Fundamental Analysis EUR Italy managed to sell EUR 6 billion of its 3-year notes with borrowing costs declining to the lowest reading since October 2010 as ECB loans supported demand. The yield on Italian 3-year bill slipped two basis points to 2.66%. The borrowing costs on benchmark 10-year notes also gave up two basis points, attaining 4.87% compared to 7.26% in November 25. USD Ben Bernanke, Head of Fed, announced on his speech today that policy makers expect a moderate economic growth. Additionally, Bernanke forecasted a decreasing unemployment level and subdued inflation. Economic experts claim that the untraditional fiscal measures implemented by the Fed are finally giving returns. GBP The number of UK unemployment claims surged more than expected in February and the ...