ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
LaborTitle:
Data points to weaker economic momentum
(Reuters) - U.S. consumers boosted spending only modestly last month and a gauge of Midwestern business activity fell sharply in April, suggesting the economy entered the second quarter with less steam.
The Commerce Department said on Monday consumer spending rose 0.3 percent last month, just below the median forecast in a Reuters poll.
When taking into account inflation, which has been fed in recent months by higher gasoline prices, spending barely rose, advancing just 0.1 percent.
"The spending number is an indication that the higher gas prices we saw last month are taking their toll," said Todd Schoenberger, managing principal at the Black Bay Group in New York.
The Commerce Department report also showed consumer income rose 0.4 percent last month. Analysts had expected a gain of 0. ...
Title:
Dukascopy Morning Forex Overview : 30/04/2012
Fundamental Analysis
EUR
"Once we hit the 6.5 per cent mark , the alarm bells will go off loudly in Brussels and more rhetoric will be coming from the European Central Bank"
- Adrian Miller, a global markets strategist at GMP
The rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches to BBB-plus with a negative outlook from A, citing expectations the government finances will deteriorate.
USD
"While the economy continued to grow in the first quarter, the expansion remains modest in pace and subpar from a historical perspective"
- Jim Baird, chief investment strategist at Plante Moran Financial Advisors
The U.S. economy grew at a slower pace than forecast in the first quarter as businesses cut on investment. Gross domestic product increased at a 2.2 per cent ...
Title:
Dollar Weak, Eyes On Canadian GDP
The euro (EUR) commenced the week lower following the downgrade of Spain on Friday by the S&P. Interestingly Moody's announced that Spain's new fiscal consolidation policies are positive for the credit rating of the troubled nation. These contradictive opinions are particularly noteworthy and are expected to fuel discussions on the effectiveness, usefulness and timeliness of credit ratings especially after Danish banks dismissed Moody's services in the past weeks. As the French Presidential election gets into its final week, German Chancellor Merkel appears to be supportive of complementing fiscal austerity and economic reforms with a growth agenda. This has been Hollande's - Sarkozy's main opponent - campaign cornerstone.
The US dollar (USD) appears softer as the markets open following ...
Title:
Small business hiring takes step back in April
(Reuters) - Small business hiring slowed considerably in the April and employees saw a reduction in their hours, an independent survey showed on Monday, adding to signs of weakening in labor market conditions.
Businesses added 40,000 new jobs, a step back from the 75,000 positions created in March, according to Intuit, a payrolls processing firm. The average workweek for small business employees dipped 0.14 percent.
The pull back in hiring by small businesses is the latest indication that job growth is losing some momentum. Nonfarm employment increased 120,000 in March, the least amount in five months, with the jobless rate dropping to 8.2 percent -- largely as some unemployed people gave up the search for work.
The weak payrolls number last month was largely seen as payback after an ...
Title:
A busy mixed week for the superpower
Multiple key data and reports from the key sectors and activities were released this week in the superpower all in all confirming one clear scheme; the world's leading economy is expanding only moderately, watching a gradual recovery taking place successfully but remains insufficient to suppress the jobless levels to boost growth.
It is no surprise that the Federal Open Market Committee decided as accustomed and as already forecasted to keep the federal funds target rate intact at its historical low of 0.00 percent to 0.25 percent, and attesting once again that the country's economic momentum during this past period was "expanding moderately".
Having in mind that several times before we have watched the FOMC members pledge to keep exceptionally low rates through at least late 2014; the ...
Title:
Weekly Economic and Financial Commentary : 27/04/2012
Weekly Economic and Financial Commentary
U.S. Review
First-Quarter GDP Growth Slows
The U.S. economy grew at a 2.2 percent annual rate in the first quarter, somewhat slower than the consensus had expected. Consumption remained the primary driver of growth as business spending slowed and the government sector continued to scale back spending.
In our U.S. review section this week, we discuss the GDP report in the context of the big miss in durables and consider what it means for business spending going forward. We also look at a very small change in the Fed statement this week that reflects an improving view on the troubled housing sector.
Business Spending Poised for a Slowdown?
Durable goods orders for March were ugly. The 4.2 percent drop was the largest decline since the U.S. ...
Title:
US Employment Data in Focus
The Week Ahead
Highlights
US employment data in focus
Bank of Japan underwhelms
RBA likely to cut
The SNB talks tough on the Swissie
Is the UK economy really that weak?
The Eurozone's growth pact
US employment data in focus
Earlier this week, the Federal Open Market Committee (FOMC) held its 2-day policy meeting. The bank kept policy on hold and upgraded the economic assessment, however comments from Ben Bernanke - which did not provide any new insight in our view - kept Treasury yields low, equity markets supported, and the dollar soft with QE3 speculation back into focus.
Fed projections showed upwards revision to real GDP growth with forecasts of 2.4%-2.9% for 2012 up from the prior 2.2%-2.7% estimate and the unemployment rate forecast was lowered to 7.8%-8% ...
Title:
US growth remains spotted but is forecasted to show a slight weakening
So far growth remain clearly spotted in the superpower and its economy is expanding only moderately as attested by the FOMC members and the Federal Reserve, watching a gradual recovery taking place successfully but remaining on being insufficient on truly decreasing jobless levels of the country to boost an accurate stronger growth.
If truth be told the Bureau of Economic Analysis from the U.S. Commerce Department is highly projected to show that the country's growth rate for the first quarter could have shown a weaker narrowed rate of 2.5 percent from 3.0 percent as a result of the current global and local unending toughened economic conditions shown mainly within the labor and housing markets despite signs of enhancement seen recently in these sectors.
In fact the country's key sector; ...
Title:
U.S. growth slows as inventory accumulation wanes
(Reuters) - U.S. economic growth likely cooled modestly in the first quarter as replenishing of inventories by businesses slowed, though stronger demand for automobiles and a lift to homebuilding from warm weather blunted the blow.
Gross domestic product is expected to have expanded at a 2.5 percent annual rate, according to the median of a Reuters poll.
That would be a moderation from the fourth quarter's 3.0 percent pace, but decidedly stronger than economists' predictions early in the quarter for growth below the 1.5 percent level.
In some ways Friday's report on GDP should stack up well when compared with data for the fourth quarter. In the final three months of last year, inventory building accounted for nearly two thirds of the economy's growth; in the first quarter, demand from ...
|