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Improvement In Labor MarketTitle:
Jobs rebound dampens QE3 prospects: Fed officials
(Reuters) - The pick-up in jobs has caught the eye of two top Federal Reserve officials who said on Wednesday that continued improvement in the beleaguered labor market dampens prospects for more economic stimulus measures from the central bank.
San Francisco Fed President John Williams and Richmond Fed President Jeffrey Lacker pointed to better-than-expected data in recent months that show the U.S. unemployment rate dropped to 8.3 percent, a still-high level that casts intrigue on the Fed's next move to boost the economy, if any.
The stronger labor market has investors buzzing over whether the Fed will ultimately decide to launch a third round of so-called quantitative easing, or QE3, through more asset purchases.
The central bank may yet need to buy more bonds to bolster the weak ...
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Weekly Economic and Financial Commentary : 05/02/2012
Weekly Economic and Financial Commentary : 05/02/2012
U.S. Review
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent. The details of the report however, suggest that unseasonably warm weather may be playing a role in the stronger job gains.
The ISM-Manufacturing Index posted a marginal improvement in January as new orders jumped for the month. Export orders also posted a nice increase suggesting that the effects of a Eurozone slowdown have yet to affect U.S. manufacturers.
Stronger-Than-Expected Job Gains to Start the Year
This week's economic data continued to point toward sustained economic growth. The employment situation improved at a better-than-expected pace in ...
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Positive signs from Europe in January; beating the debt-crisis is still possible
Another positive week for Europe comes to an end; however, we can see the European common currency ended this week with losses as the unexpected cheerful jobs report for the world's largest economy sent the euro to the downside as the U.S. dollar gained momentum on stronger recovery prospects and better projections for economic growth.
This critical week was in focus during the entire sessions, where this week contained the European Summit in addition to the several important fundamentals from major economies along with several bond auctions in Europe, which pulled all the attention and forced investors to remain fully concentrated on the critical events.
This week started with the important European session in Brussels, where European leaders for the first time were able to meet market ...
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This week the US provided the global market with an unexpected surprise; its jobs report
This week like no other since that the year 2012 started has provided the global market with a truly cheerful and unexpected jobs report to boost optimism throughout the stocks market and regarding the rest of the year regardless of the unending hardened conditions witnessed locally on the U.S soil and globally on the neighbor's territory; Canada, along with many other major economies.
In fact this week awaited Jobs Report came out extremely cheerful unlike and much above the market pessimistic forecasts to accordingly confirm that the nation's major obstruction; the labor market, is starting to truly heal and will most probably show further enhancement throughout this new year and therefore by the end of this year this sector may stop being a major factor behind the postponement of a ...
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Jobless rate at 3-year low as payrolls surge
(Reuters) - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama.
Nonfarm payrolls jumped 243,000, the Labor Department said on Friday, as factory jobs grew by the most in a year. The jobless rate fell to 8.3 percent - the lowest since February 2009 - from 8.5 percent in December.
The gain in employment was the largest since April and it far outstripped the 150,000 predicted in a Reuters poll of economists. It hinted at underlying economic strength and lessened chances of further stimulus from the Federal Reserve.
"More pistons in the economic engine have begun to fire, pointing to accelerating economic growth. One of the happiest persons reading this ...
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Euro and stocks trade flat on Bernanke, debt crisis
Stocks and the euro traded little changed on Thursday as data signaling improvement in the U.S. labor market and remarks by Federal Reserve Chairman Ben Bernanke that suggested some economic optimism were offset by concerns over Europe's festering debt crisis.
Investors also remained cautious ahead of the U.S. non-farm payrolls and unemployment report for January on Friday, keeping prices in check across financial markets.
Bernanke, in testimony to Congress, said he was seeing signs that some of the uncertainty dampening U.S. business investment, including European banking woes, might be waning. But Bernanke said it was too soon to say whether the United States would remain unscathed by troubles beyond its borders.
"Bernanke is a little more bullish on the economy than expected," said ...
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Sharp gains in Asia as manufacturing improved across the globe
As the manufacturing sector showed improvement in January in China, Germany, the Euro-zone, UK and the US, fears from the deteriorating global economy diminished, increasing demand on the risky higher yielding assets, including the Asian stocks, where the MSCI Asia Pacific Index rose 1% at 14:50 in Tokyo.
January’s PMI manufacturing was stronger across the globe, easing the worries over the ongoing euro zone debt crisis since Greece did not reach a deal with bondholders yet, and the US weak labor market confirmed by yesterday’s ADP employment reports which showed the US added fewer jobs in Jan.
Investors continue to wait for a deal between Greece and the private bondholders that will ensure a second bailout for the indebted nation and avoid a messy default, yet fears over the region’s ...
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US Dollar Drops as Optimism Returns to Markets
US dollar is lower across the board right now, dropping as optimism returns to the market in the form of better economic news. The news is especially encouraging in Europe, where eurozone manufacturing has expanded. Even in the United States, the situation isn’t so bad, with ADP estimating private payrolls up by 170,000.
All of the good news in other countries means that investors and Forex traders alike are ready for riskier assets and higher yields. As a result, the US dollar is not being sought as a safe haven investment. Indeed, the US dollar would make a rather poor safe haven right now, since much of the recent economic data has become disappointing.
There have been some improvements in the job market, but the labor market recovery remains unstable, swinging from gains to losses ...
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This month US manufacturing conditions could have gained further momentum
It is obvious that so far the major pillar supporting the superpower's growth and revival throughout the local and global toughened economic conditions consist of the overall gradual enhancement and expansion of business conditions as already witnessed this past period and projected more than once by the Federal Reserve to also most probably watch the manufacturing activities of this month gain further momentum.
In fact later on today the Ism manufacturing for January, which as we know is a composite diffusion index regarding manufacturing conditions across the United States, could have expanded at a faster pace of 54.5 from 53.9 as there is constant enhanced demand and factory production with companies like Caterpillar Inc. requiring more equipment drives orders and more car sales seen ...
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