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Unemployment Claims On ThursdayTitle:
YouTradeFX Daily Market Analysis : 25/05/2012
Fundamental News
Today’s highlights
- GfK German Consumer Climate (GER, 07:00 GMT)
- French Consumer Confidence (FRA, 07:45 GMT)
- Spanish PPI (YoY) (SPAIN, 08:00 GMT)
- Employment Level (SUI, 08:15 GMT)
- Michigan Consumer Sentiment (U.S., 14:55 GMT)
According to the Labor Department, new unemployment claims in the U.S came in at a seasonally adjusted level of 370,000, a slight decline from the previous week's revised level of 372,000. While, U.S durable goods orders edged up by 0.2 percent in April after tumbling by 3.7 percent in March, the Commerce Department said in a report on Thursday.
According to Bloomberg, China’s biggest banks may fall short of loan targets for the first time in at least seven years as an economic slowdown crimps demand for credit, three ...
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Jobless claims little changed last week
(Reuters) - New claims for unemployment benefits fell slightly last week, government data on Thursday showed, suggesting the labor market continues to expand at a moderate pace.
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 370,000, the Labor Department said. The prior week's figure was revised up to 372,000 from the previously reported 370,000.
Economists polled by Reuters had forecast claims unchanged last week. The four-week moving average for new claims, considered a better measure of labor market trends, dropped 5,500 to 370,000.
Claims have barely budged in the past four weeks indicating a marginal improvement in the pace of job creation after April's disappointing 115,000 gain in nonfarm payrolls.
A Labor Department official said there was ...
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Asia Session: Europe, Europe And More Europe
Nervousness underpinned price action today. Despite voices from throughout Europe attempting to reassure the market that Greece will remain in the euro, stock markets in Asia didn't significantly build on their opening gains and the euro slowly drifted lower throughout the session.
Why is the market behaving like this? In one word – caution. Investors are acutely aware that the talk from Europe may just be that, and when push comes to shove nothing may happen. And, in this case that is a very bad thing considering the fate of so many economies (both in Europe and elsewhere) hang in the balance.
Whilst there are many different views, most economists agree that letting Greece slipe away may prove to be more costly than keeping it in the Eurozone. Thus, the market wants reassurances that ...
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Facebook IPO Fails to Make a Dent in the Marketplace
Following weeks of speculation regarding how Facebook's debut on the New York Stock Exchange would turn out, investors were mildly disappointed with the social media site's performance on Friday night. Facebook closed out the week at 37.96, slightly below its opening price. What direction Facebook takes from here is a hotly debated topic among market analysts. Some are warning that the site may be overvalued already, and Friday's disappointing performance could be a sign of things to come. That being said, any moves by Facebook to expand its already massive subscribership could generate excitement in the marketplace which could help boost the value of this site.
Economic News
USD - Dollar Comes off 4-Month High vs. Euro
The US dollar turned bearish against most of its main currency ...
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YouTradeFX Weekly Market Analysis : 05/18/2012
Fundamental News
Today’s highlights:
· German PPI (MoM) (GER, 07:00 GMT)
· Italian Industrial Sales (MoM) (ITA, 09:00 GMT)
· Spanish Trade Balance (SPAIN, 11:30 GMT)
· Core CPI (MoM) (CAD, 13:30 GMT)
· ECRI Weekly Annualized (WoW) ( U.S, 15:30 GMT)
The Philly Fed Index tumbled to a negative 5.8 in May from a positive 8.5 in April and Conference Board's leading economic index edged down by 0.1 percent in April following a 0.3 percent increase in March, according to an official report released yesterday. While, the Labor Department figures said that the unemployment claims was at a seasonally adjusted level of 370,000 for the week, unchanged from the previous week's revised figure.
Greece’s credit rating was downgraded one level by Fitch ...
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Dukascopy Afternoon Forex Overview : 05/17/2012
Dukascopy Fundamental Analysis
EUR
Mario Draghi, the ECB President, insisted on Greece to stay in the Euro bloc during his public speech on Wednesday regarding the possibility of Greece withdrawal from the Eurozone. Nevertheless, according to him, the ECB will stick to its anti-inflation mandate. The ECB President's comments came after Irish and Belgian central banks reported that Greek exit would not be disastrous for the Eurozone.
USD
Jobless claims in the U.S. didn't live up to the expectations that it will decrease by 5K and remained unchanged, at 370K level, in the week from 6th to 12th of May. Amount of people on rolling unemployment claims increased by around 18K while the number of people on prolonged payments decreased by around 45K. 31 out of 52 states or territory's reported ...
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Gold off 4-1/2 month low on increased physical buying
Gold rose more than 1 percent on Thursday, bouncing off a 4-1/2 month low, as weaker prices attracted new physical buyers, but gains were likely to be limited as the euro was undermined by fears of a deepening debt crisis in Greece.
Spot gold rose 1 percent to $1,553.80 an ounce by 09.07 a.m. EDT, from $1,538.30 late in New York on Wednesday, when it plunged to $1,527 - its weakest since December 29.
The precious metal rose to a high of $1,557.56 earlier, helped by the approaching expiry of gold options in the COMEX futures market.
U.S. gold futures hit a high of $1,557.90 an ounce and were at $1,554.30, up 1.1 percent. The contract had plunged to a multi-month low of $1,526.70 on Wednesday.
Gold, traditionally a safe-haven asset, has been moving in tandem with riskier assets such as ...
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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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YouTradeFX Weekly Market Analysis : 14/05/2012
Consumer sentiment in the U.S. rose to 77.8 in May from the final April reading of 76.4, according to a report released by Reuters and the University of Michigan on Friday. While, the Labor Department said on Friday that its producer price index fell by 0.2 percent in April. According to Bloomberg news, Sales at U.S. retailers probably slowed in April as the weather turned more seasonable and consumers took a breather following a pre-Easter holiday buying spree, economists said before a report this week. The projected 0.2 percent gain in purchases would follow a 0.8 percent advance in March, according to the median forecast of 68 economists surveyed by Bloomberg News ahead of Commerce Department figures on May 15. Events in the U.S, likely to affect the markets this week are: Monday; a ...
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