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Unemployment Claims FallTitle:
Jobless claims hold steady at 4-year low
New claims for unemployment benefits were unchanged last week, holding at the lowest level since the early days of the 2007-2009 recession and giving a fresh sign the battered labor market is healing.
Workers filed 351,000 initial claims for state unemployment benefits, the Labor Department said on Thursday. The prior week's figure was revised up to 351,000 from the previously reported 348,000.
The last two weekly readings have been the lowest since March 2008. The four-week moving average for new claims, a measure of labor market trends, fell 7,000 to 359,000 - also the lowest since March 2008.
Economists polled by Reuters had forecast initial claims rising to 354,000.
With weekly claims approaching levels last seen before the recession that began in December 2007, economists say ...
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Jobless Claims in U.S Probably Inched Up Last Week
The world's largest economy will be kick starting Thursday with the weekly jobless claims, which have been recently showing critical improvement in the jobs markets. Stocks futures were slightly up ahead of the opening bill, joining optimism on German business confidence that climbed more than economists had in mind.
As of 06:48 a.m. in New York, futures on the Dow Jones Industrial Average gained as much as 0.1 percent or 17 points to 12933. Standard & Poor's 500 Index futures rose 0.1 percent to 1357.4. Equities closed lower yesterday as sales of previously owned houses in the U.S trailed estimates, downbeat data from Europe and China spooked risk seekers.
Filing for unemployment benefits in the U.S in the February 18 week probably ticked higher to 355 thousand applications, after ...
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YouTradeFX Daily Market Analysis : 23/02/2012
Fundamental News:
Today’s highlights:
German Ifo Business Climate Index (GER, 09:00 GMT)
Initial Jobless Claims (U.S, 13:30 GMT)
Existing home sales in the U.S. showed an important increase in the month of January, according to a report released by the National Association of Realtors on Wednesday. The report showed that existing home sales rose 4.3 percent to an annual rate of 4.57 million in January.
China’s Premier Wen Jiabao is seen signaling next month that curbing pollution, inequality and the risk of financial instability eclipse the benefits of faster economic growth, a survey of analysts indicated. Wen will target an expansion of less than 8 percent in his report to the National People’s Congress in Beijing on March 5, according to a report published by Bloomberg ...
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EUR Remains under Pressure as Greece Concerns Persist
The euro remained under pressure against the US dollar throughout yesterday's trading session, as investors remained cautious regarding Greece's financial situation. The EUR/USD spent much of the day range trading around the 1.3225 level after failing to break above key resistance lines the day before. Today, traders will want to pay attention to the weekly US Unemployment Claims figure. A better than expected result may result in the euro falling further against the greenback.
Economic News
USD - US Unemployment Claims May Generate Volatility Today
The US dollar saw gains virtually across the board yesterday, as the combination of a number of international factors resulted in investors reverting to the greenback. The USD/JPY extended its bullish trend, reaching as high as 80.37 before ...
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EUR Reverses Gains against Safe Haven Rivals
Fears that Greece could still default on its debt despite Monday's approval of a bailout package led to risk aversion in the markets yesterday. The euro largely reversed earlier gains against both the USD and JPY as a result. Today, in addition to any euro-zone announcements regarding Greece, traders will want to pay attention to a batch of German and French manufacturing data. As the two largest economies in the euro-zone, indicators from Germany and France have the potential to impact the EUR.
Economic News
USD - Risk Aversion Leads to USD Gains
The USD was able to largely recoup the losses it took on Monday throughout yesterday's trading session, as ongoing euro-zone worries led to risk aversion in the market place. The EUR/USD fell over 100 pips yesterday, to just below the 1.3200 ...
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Greece's aid package delay raises concerns, U.K. outlook clouded with uncertainty
Another week full of mixed vibes amid worries and hopes Greece will receive a second bailout, to repay 14.5 billion euro of debt maturing on March 20 and thereby avoid default, has passed where the final decision for Greece's aid package will probably be announced this week.
The week started with optimism after the approval of austerity measures in the Greek Parliament, yet worries returned once again as the awaited euro area finance chief's meeting was cancelled and replaced by a telephone conference as Greece could not outline methods to fill the 325 million euro shortfall in budget cuts for the current year as well as to sign written commitment from political party leaders to adopt austerity measures.
Thereafter, Greek Finance Minister Evangelos Venizelos said Greece had fulfilled the ...
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Weekly Economic and Financial Commentary : 17/02/2012
Weekly Economic and Financial Commentary : 17/02/2012
U.S. Review
A Few Disappointments Enter The January Data
The tone of U.S. economic releases softened a bit this week, though there is no sign that growth in Q1 is about to hit a brick wall. Advance retail sales for January came in at about half the growth rate the consensus had expected- up 0.4 percent, signaling a U.S. consumer that continues to watch their budgets.
U.S. industrial production did not grow at all in January though the manufacturing sector is stronger than the industrial production headline might suggest, since most of the weakness came from utilities and the warmer-than-average weather in January.
Is U.S. Weather Skewing the January Data?
The latest economic data out of the United States was a bit of a let ...
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EUR/USD Drops to 3-Week Low Following Greek News
The EUR/USD continued to fall during yesterday's trading session, as negative euro-zone news caused investors to revert back to safe-haven assets. The pair dropped below the psychologically significant 1.3000 level for the first time since January 25th. That being said, the euro staged a slight recovery after a better than expected US Unemployment Claims figure, which led to some risk taking. Today, traders will want to pay attention to US Core CPI figure. The figure is considered a valid indicator of economic health and may lead to market volatility.
Economic News
USD - Dollar Gains on Yen Following Unemployment Figure
A better than expected US Unemployment Claims caused the USD to extend its bullish trend against the Japanese yen during yesterday's trading session. The first-time ...
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Brent tops $120 on Iran, North Sea, euro
Brent crude rose on Thursday for a fourth day in a row, topping $120 a barrel -- a six-month high -- on worries about supply from Iran and from the North Sea, where output was expected to dip next month.
A reversal of the euro's losses on the day against the dollar also bolstered crude oil gains on both sides of the Atlantic.
The euro surged back after reports that euro zone central banks had agreed to exchange Greek bonds they hold for new bonds as part of a deal to help the debt-strapped country. This raised fresh hopes that Greece's a long-sought debt bailout would be agreed by next week.
U.S. crude erased an early $1 decline and rose to a six-week high as upbeat data on jobless claims and housing brightened the outlook for domestic energy demand. The U.S. data also helped lift Brent. ...
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