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Further On The Jobs ReportTitle:
Fed's Dudley: New policy actions unlikely: CNBC
(Reuters) - The Federal Reserve likely will not need to ease monetary policy further but it cannot rule it out if the economy were to take a turn for the worse, New York Federal Reserve Bank President William Dudley said on Thursday.
"My view is that, if we continue to see improvement in the economy, in terms of using up the slack in available resources, then I think it's hard to argue that we absolutely must do something more in terms of the monetary policy front," he said in an interview on CNBC.
However, Dudley, a voting member of the U.S. central bank's monetary policy committee, said if Europe's debt crisis or a potentially sharp tightening of U.S. fiscal policy at the end of the year began to threaten the recovery, the Fed might need to act.
"If employment gains were to falter, if ...
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Markets extend gains on value hunt, hopes for EU summit
(Reuters) - Markets extended gains in Asia on Tuesday with investors hunting for bargains in shares beaten down to 2012 lows late last week, as hopes grew that Europe could agree on fresh action to tackle its debt crisis while promoting growth.
A Chinese media report saying Beijing will accelerate infrastructure investments to combat slowing growth lifted Hong Kong and Chinese shares by 1.2 percent .HSI and 0.6 percent .SSEC respectively.
European shares looked likely to extend gains, with financial spreadbetters predicting that major European markets .FTSE .FCHI .GDAXI would open as much as 1.0 percent higher. U.S. stock futures were up 0.1 percent. .EU .L .N
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.4 percent, having recovered on Monday from a ...
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Euro Succeeds Short Squeeze
Sunrise Market Commentary
- Fixed Income: Global core bonds take a breather
- Investors remained mostly sidelined in an uneventful session on Friday. The G-8 meeting stressed the need for growth, besides fiscal consolidation and sees Greece staying inside EMU. This shouldn’t surprise markets today. With a razor thin calendar, trading might start the week in a lackluster mode.
- Currencies: Euro succeeds short squeeze
- On Friday, the decline of the euro halted and EUR/USD succeeded a cautious rebound, even as uncertainty on the EMU debt crisis persisted. Technical considerations will also dominate trading today as the G8 meeting provided no high profile measures to address the debt crisis.
The Sunrise Headlines
- US Equities rose for a second consecutive session on ...
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Dukascopy Morning Forex Overview : 21/05/2012
Fundamental Analysis
EUR
"Fears of a Greek exit from the euro zone and the negative consequences from that are prevailing"
- Ben Kwong, KGI Asia
European stocks edged lower after Fitch downgraded Greece’s credit rating to ‘CCC’, implying that the country is vulnerable and highly dependent on favourable economic conditions to fulfill its financial obligations.
USD
"If there were scope to do another twist of some type it would be prudent to consider it, especially in the scenario where things are worse and the Fed feels like it needs to move"
- Nathan Sheets, Citigroup Inc.
Fed policymakers might potentially launch another round of Operation Twist rather than a direct asset purchases in case of increased risks or further weakening of the US economy.
GBP
"We must work together to give ...
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Dukascopy Afternoon Forex Overview : 05/17/2012
Dukascopy Fundamental Analysis
EUR
Mario Draghi, the ECB President, insisted on Greece to stay in the Euro bloc during his public speech on Wednesday regarding the possibility of Greece withdrawal from the Eurozone. Nevertheless, according to him, the ECB will stick to its anti-inflation mandate. The ECB President's comments came after Irish and Belgian central banks reported that Greek exit would not be disastrous for the Eurozone.
USD
Jobless claims in the U.S. didn't live up to the expectations that it will decrease by 5K and remained unchanged, at 370K level, in the week from 6th to 12th of May. Amount of people on rolling unemployment claims increased by around 18K while the number of people on prolonged payments decreased by around 45K. 31 out of 52 states or territory's reported ...
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Today`s FOMC Meeting Minutes outline…
Throughout the FOMC minutes meeting, participants have attested once again that the overall recovery tempo of the superpower is on a right gradual and constant pace with better labor conditions along with a stable enhanced demand while that prices pressures remain subdued, yet once more rates will stay exceptionally low at least through late 2014 to support the ongoing recovery.
In fact the world`s leading economy is gaining strength steadily, which was witnessed clearly since last year second half and mainly fourth quarter till this day and accordingly the FOMC members attested and proclaimed once again that the economy is "expanding moderately" with overall sectors activities gaining momentum including the labor market.
However the FOMC members confirmed today that in case that some ...
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U.S producer price plunge in April and Canada`s jobless levels rose faintly…
For the first time in four month we watch the superpower`s wholesale prices fall in April, which is mainly resulted by the recent slight plunge of fuel costs, yet as an overall portrait price pressures remain around stable levels and continue on being well subdued while that the country`s territorial neighbor; Canada, reports a slight higher jobless level.
In fact the U.S Labor Department showed today that the country`s producer price index fell 0.2 percent from a prior neutral reading of 0.0 percent; lower than the projected reading of 0.0 percent as a result mainly of the recent decline in fuel prices, while that the Core PPI came in lower as forecasted at 0.2 percent from 0.3 percent for the same period.
And accordingly this suggests lower final products being offered to the American ...
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Financials Track JPMorgan $2 billion loss, China`s Industrial Output before U.S. session
U.S. stocks-index futures pointed to a down day for Wall Street on Friday, following a global rout after the largest U.S. bank by asset, JPMorgan Chase & Co announced a $2billion trading loss and China`s industrial out unexpectedly stalled in April.
As of 06:26 a.m. New York Time, Dow Jones Industrial Average futures expiring in June fell 0.43 percent to 12,778, Standard & Poor`s 500 Index futures lost 0.47 percent to 1,351.20, and NASDAQ 100 futures slipped 0.24 percent to 2,612.50.
Stocks and commodities dropped while the yen strengthened after the JPMorgan`s CEO Jamie Dimon said an "egregious" failure on its complex credit securities led to losses in its chief investment office. JPMorgan Shares lost 6.2 in pre-market trading.
Financial shares racted negatively to the JPMorgan shock, ...
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U.S. Trade Deficit Widened in March
U.S. Trade Deficit Widened in March
-The US trade deficit was $51.8 billion in March 2012, which was larger than the expected $50.0 billion shortfall; February's gap was revised to $45.4 billion from $46 billion.
-Exports rose 2.9% in March and imports jumped by 5.2%.
-The widening in the trade gap in March was in line with that assumed by the Bureau of Economic Analysis (BEA). Recent data showing that inventory growth and construction spending were less than assumed by the BEA, however, raise the prospect that the growth rate will be nudged lower than the 2.2% pace originally reported. The prospect of the US economy growing at a faster pace in the second quarter of 2012 remains intact. The US economy continued to generate jobs in April, albeit more slowly than forecasters ...
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