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Labor Market RecoveryTitle:
Inflation outpaces earnings, threatens spending
(Reuters) - Consumer prices rose modestly in March amid signs a spike in gasoline costs was ebbing, but inflation still outpaced workers' earnings and threatened to undermine spending.
The Labor Department said on Friday consumer prices increased 0.3 percent last month. Gasoline prices rose 1.7 percent, a sharp slowdown from February when costs at the pump rose more than three times as quickly.
Still, workers' earnings fell 0.4 percent in March after adjusting for the increase in prices.
Other data showed consumer sentiment slipped in April as higher gasoline prices hit household budgets.
"The underlying problem of inflation outstripping wage gains remains. That is the danger for the economy in the long run," said Joseph Trevisani, a market strategist at Worldwide Markets in Woodcliff ...
Title:
Dukascopy Morning Forex Overview : 13/04/2012
Fundamental Analysis
EUR
"The outlook for the industrial sector is bleak"
- Martin van Vliet, an economist at ING Group
Euro-area industrial production unexpectedly rose in February, even as the region’s economy continued to slide into a recession. Production increased 0.5 per cent from January, said the European Union’s statistics office in Luxembourg on Thursday.
USD
"Import prices were certainly a problem for businesses in the last three months, but we’ve seen those pressures ease"
- Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC
The number of Americans claiming for unemployment benefits rose to 380 thousand in the week ended April 7 from the week before, said the Department of Labor on Thursday.
GBP
"Concern persists that U.K. exports will be limited in the near ...
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Inflation data from across the globe in focus today
As this week comes to an end today, markets will be focused on inflation data from across the globe, where Germany, the United Kingdom and the world's largest economy are to release inflation-linked data, which most probably eased in March due to the global slowdown and growth concerns across Europe and the whole world itself.
As we all know, an ease in inflationary pressures will weaken the European common currency, and in result, in case the indexes came in line with expectations, the euro might cut the gains recorded yesterday against the U.S. dollar, noting that the currency surged yesterday after Fed's Dudley renewed fears regarding the recovery in the U.S. and opened the door for a third round of quantitative easing.
The President of New York Federal Reserve Bank, William Dudley, ...
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Analysis: Obama's "green jobs" have been slow to sprout
(Reuters) - Three weeks ago, President Barack Obama stood in front of a sea of gleaming solar panels in Boulder City, Nevada, to celebrate his administration's efforts to promote "green energy."
Stretching row upon row into the desert, the Copper Mountain Solar Project not far from Las Vegas provided an impressive backdrop for the president.
Built on public land, the facility is the largest of its kind in the United States. Its 1 million solar panels provide enough energy to power 17,000 homes.
And it employs just 10 people.
Three years after Obama launched a push to build a job-creating "green" economy, the White House can say that more than 1 million drafty homes have been retrofitted to lower heating and cooling costs, while energy generation from renewable sources such as wind and ...
Title:
Dukascopy Afternnon Forex Overview : 12/04/2012
Fundamental Analysis
EUR
Germany's bond yield advanced after the country did not manage to meet maximum sales target. The average yield on the new benchmark 10-year bunds rose by six basis points, advancing to 1.71%. At the same time yields on two-year notes added four basis points approaching 0.13%.
USD
Natural gas futures fell below its key support level of 2.00 US Dollars per BTU, approaching 10-year low late on Wednesday as traders continued to sell off the fuel. Natural gas for May delivery traded at 1.98 US Dollars per BTU on the New York Mercantile Exchange, sinking by 2.39% in late US trade.
GBP
FTSE 100 index fluctuated between gains and losses on Thursday as government reported UK's trade deficit widened more than expected in February. Royal Dutch Shell tumbled 5% on news an ...
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U.S trade deficit narrowed while that jobless claims climbed up gloomily
Mixed sentiments are spread throughout the world's leading economy as on one hand the superpower's trade gap shrank more than forecasted on lower imports and on the other hand the country's jobless claims rose up gloomily and unexpectedly to confirm once again that the labor conditions remain far from a full recovery despite of all the past clear signs of enhancement witnessed within this key market while that prices pressures remain subdued.
If truth be told, the U.S trade deficit narrowed more than forecasted in February to having in fact the deficit shrinking to 44.6 billion; lower than the market predictions of a 51.8 deficit and from a prior deficit of 52.6 billion as the amount of goods and services imported has eased slightly while that exports to foreign territories of the major ...
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US Dollar Remains Lower in Currency Trading
US dollar is lower today, falling as warnings about the slow economic recovery in the United States remain intact. The US dollar doesn’t look as attractive as it did a couple of weeks ago, and disappointing economic data in the United States is only confirming that view.
US economic data is showing that recovery continues at a rather slow pace. Last week, initial jobless claims rose to 380,000, once again underscoring the fact that the labor market remains relatively weak in the United States. Additionally March core PPI only rose 0.3%, indicating that the US economic recovery remains slow.
Janet Yellen, the vice chair of the Federal Reserve, warned that interest rates will remain low for quite some time, since employment gains and other economic growth has been so modest. This statement ...
Title:
Jobless claims cast cloud on labor market
(Reuters) - The number of Americans filing for jobless aid rose last week to the highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March.
Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday, defying economists' expectations for a drop to 355,000.
The four-week moving average for new claims, considered a better measure of labor market trends, rose 4,250 to 368,500.
Some economists blamed the Easter holidays for the spike in claims and expected applications to trend lower in coming weeks.
"It's very difficult to know the extent to which that's driven by seasonal effects from Easter or not," said Eric Green, chief economist ...
Title:
Dukascopy Morning Forex Overview : 12/04/2012
Fundamental Analysis
EUR
"The ECB should be preparing itself" for "the return of significant financial market tensions"
- Silvio Peruzzo, an economist at Royal Bank of Scotland Group Plc
Spanish "market conditions are not justified," said ECB Executive Board member Benoit Coeure on Wednesday. "Will the ECB intervene? We have an instrument, the securities markets program, which hasn’t been used recently but it still exists."
USD
"Import prices were certainly a problem for businesses in the last three months, but we’ve seen those pressures ease"
- Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC
U.S. import prices increased more than expected in March, 1.3 per cent, reflecting higher fuel costs, the Labor Department said Wednesday.
GBP
"The unusually warm weather in ...
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