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Labor Market ConditionsTitle:
Existing home sales of the superpower could have climbed in April
U.S existing home sales have most probably climbed up in April since that clear signs of enhancement and stability have been witnessed and detected throughout the housing market lately as stated out by the FOMC members and the Federal Reserve just recently within the last FOMC minutes meeting held.
In fact the FOMC members are convinced and believe strongly that the housing sector is still far from a full healing yet they attested that recently several signs of improvement were detected throughout that sector, having for instance last week only the Commerce department reporting that the country`s housing starts increase cheerfully to 717 thousand; above the market predictions of 685 thousand.
Not forgetting that Douglas Yearly; the chief executive of Toll Brothers Inc., which is the ...
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The Weekly Bottom Line : 19/05/2012
The Weekly Bottom Line : 19/05/2012
HIGHLIGHTS OF THE WEEK
United States
- Global economic concerns ratcheted up this week. Widespread discussion of a Greek exit continued, Spanish banks faced rating downgrades and periphery sovereign debt yields moved higher.
- Financial markets have responded to these global worries with increased risk aversion. The S&P is poised to end the week 3% lower, and 10-year treasuries are yielding just 1.7%.
- U.S. economic data has proved somewhat more encouraging, but growth is still struggling to breakout beyond a moderate pace. This has kept the possibility of additional monetary stimulus alive even if the threshold remains quite high.
Canada
- Recent economic indicators are showing a resurgence of strength in the Canadian economy. Strong ...
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Jobless claims hold steady at 370,000
New claims for unemployment benefits were unchanged last week, according to government data on Thursday that will do little to ease concerns about a recent slowdown in jobs growth.
Initial claims for state unemployment benefits held steady at a seasonally adjusted 370,000, the Labor Department said.
The prior week's figure was revised up to 370,000 from the previously reported 367,000.
Economists polled by Reuters had forecast claims falling to 365,000 last week. The four-week moving average for new claims, considered a better measure of labor market trends, fell 4,750 to 375,000.
The data comes on the heels of three straight months of slowing employment gains. Companies added 115,000 new jobs to their payrolls in April, the fewest in six months.
Thursday's report on claims covered ...
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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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Fed keeps bond-buying door open: minutes
Federal Reserve policymakers kept the door open to a fresh round of monetary stimulus, citing downside risks to a moderately expanding economy, according to minutes for the central bank's April meeting.
Several members of the Fed's policy-setting committee "indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great enough," minutes from the April 24-25 meeting said.
Minutes from the Fed's March meeting had said "a couple" members thought more stimulus might be needed.
The Fed remained sober about economic prospects. Members said the economy had been "expanding moderately" and generally agreed the economic outlook was broadly similar to that at the time of their March meeting.
While ...
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Dukascopy Afternoon Forex Overview : 05/16/2012
Dukascopy Fundamental Analysis
EUR
Stoxx Europe 600 index have dropped for third consecutive day and reached the lowest level since the start of this year as specialists speculate that elections in Greece could take place as early as 10 of June. The index lost 0.5% of its value by noon in London and around 10% from its peak this year in mid-March.
USD
Facebook increases the share offering by 25% to 421.2M shares to collect near $16B. At the offering's price of $34-$38 per share Facebook is rushing towards the largest technology IPO in the history. Production of utilities, mines and factory's in the U.S. surpassed expected 0.6% level and increased by 1.1% in April.
GBP
The number of unemployed people for January-March decreased to 2.63 million, 45,000 down on the quarter, the Office for ...
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YouTradeFX Weekly Market Analysis : 05/16/2012
Fundamental News
Today’s highlights:
Claimant Count Change (GB, 09:30 GMT)
Core CPI (YoY) (EUR, 10:00 GMT)
German 10-Year Bund Auction (GER, 10:30 GMT)
BoE Gov King Speaks + BoE Inflation Report (GB, 10:30 GMT)
Manufacturing Sales (MoM) + Building Permits + Housing Starts (U.S., 13:30 GMT)
Industrial Production (MoM) (U.S., 14:15 GMT)
ECB President Draghi Speaks (EUR, 15:00 GMT)
FOMC Meeting Minutes (U.S., 19:00 GMT)
The Department of Labor revealed that consumer prices in U.S were flat in April compared to the previous month. While the Commerce Department said that U.S retail sales edged up by 0.1 percent in April following a revised 0.7 percent increase in March and the business inventories rose by 0.3 percent in March following a 0.6 percent increase ...
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Euro slumps to fresh 4-month low; Greece weighs
The euro slid to a fresh four-month low against the dollar on Tuesday after a spokesman for the Greek president said the country will hold new elections after political leaders failed to reach agreement on a coalition government.
In a sign of a swift rise in risk aversion, German government bonds rose sharply and Italian 10-year yields hit 6 percent on the news.
The dollar, bolstered by safe-haven flows, also gained against the yen as investors compared U.S. data releases to those from elsewhere in the world and saw the world's largest economy on track to recovery, albeit at a slow pace.
The Greek news "triggered the (euro's) fall through $1.2800 and it looks like they can't compromise so they will have to hold elections," said Boris Schlossberg, director of FX Research at GFT in Jersey ...
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Another mixed week for the superpower…
Ahead of the U.S elections we watch another mixed week be drown regarding the current economical conjuncture of the world`s leading economy with a worsened and widened trade deficit along with better labor and confidence data, yet the recovery is on a slow gradual pace and accordingly a full efficient healing is still far from being witnessed.
In fact throughout the week we watched mixed sentiments getting spread as on one hand the superpower`s trade gap widened more than forecasted on higher imports and on the other hand the country`s jobless claims cheerfully and unexpectedly declined faintly to confirm once again that the labor conditions are improving gradually but remain far from a full recovery and that the gap between imports and exports continue on being immense.
Actually the U.S ...
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