ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
UnemploymentTitle:
Growth slowed in spring but didn't stall: Fed
(Reuters) - Growth slowed in some U.S. regions during May as costlier food and energy as well as supply disruptions stemming from a major earthquake in Japan in March took a toll, the Federal Reserve said on Wednesday.
"Reports from the 12 Fed districts indicated that economic activity generally continued to expand since the last report, though a few districts indicated some deceleration," the U.S. central bank's periodic "Beige Book" summary said.
The report on coast-to-coast conditions, prepared by the New York regional Fed bank and based on conditions on or before May 27, will be used by Fed monetary policy-makers at their next session on June 21-22.
The Beige Book's conclusions fit with other signs from recent government reports showing consumers struggling with higher gasoline ...
Title:
The euro slumps on renewed debt fears
The dollar continues its rise since morning after the Feds chairman Bernanke assured that the recovery in the United States remains “frustratingly slow” and that increased risk aversion and volatility with return to the dollar as Bernanke did not assure a new round of stimulus for now.
The economic recovery is still weak especially after the sluggish performance of the US labor market and high unemployment rates that reached 9.1% the highest during this year.
The USDIX is currently trading around 73.76 recording the intraday high at 73.80 and the low of 73.50.
The euro fell against the dollar to reach 1.4623 levels ignoring the economic fundamentals which confirmed the stability of the preliminary GDP reading in the euro zone during the first quarter supported by the significant ...
Title:
Euro zone 1q GDP unrevised, ECB focuses on helping debt-laden nations
Euro area first-quarter growth remained unrevised as the preliminary figures matched forecasts of 0.8% on the quarter and 2.5% on the annual basis.
The 17-nation economy recorded robust expansion in the three months ended March, boosted by the vigorous growth figures from Germany and France.
Germany, the largest economy in the euro area, continued to uplift growth in the region as it reported 1.5% expansion in the first three months of the year, almost quadrupling from the previous quarter’s 0.4% expansion. The expansion was the strongest since the second quarter of last year when the economy expanded 2.1%.
By extension, the French economy expanded 1.0% in the first three months of 2011 from the revised 0.3% in the fourth quarter.
Despite the euro's rise in the first three months of ...
Title:
Australian Dollar Falls on Concerns for Economic Growth
The Australian dollar dropped today on the mounting concerns about the slowdown of the global economic recovery, caused by the debt crisis in European and the unfavorable economic data from the US.
The International Monetary Fund said that its aid program for Portugal “entails important risks”. The IMF also said that “important challenges remain to overcome sovereign debt problems in the euro area”. These words reduced optimism for the Eurozone economic stability, even though the IMF revised the growth projections for Europe up to 2.5 percent for this year and next.
The Australian economy also gives causes for concern. ANZ Job Advertisements fell by 6.5 percent in May from April, following the drop by 0.4 percent in April, signaling that the employment growth slowed. On the other hand, ...
Title:
IMF: U.S. slowdown likely temporary
(Reuters) - The Federal Reserve does not need to consider additional monetary policy stimulus as the world's largest economy is likely to pick up in coming quarters due to growth in exports and disposable incomes, IMF acting chief John Lipsky said on Wednesday.
A slowdown in growth in the United States and other major economies is likely to be temporary, caused by a spike in energy prices, the acting managing director of the International Monetary Fund told Reuters in an interview.
There is a risk of high unemployment as economic recovery will be slow, and it is appropriate for advanced economies to maintain accommodative monetary policies, Lipsky said.
"Our expectation is current U.S. monetary policy is consistent with a return to moderate growth," he said, when asked if the Fed needed ...
Title:
Obama presses Europe, pledges help for Greek crisis
(Reuters) - President Barack Obama on Tuesday urged European countries and bondholders to prevent a "disastrous" default by Greece and pledged U.S. support to help tackle the country's debt crisis.
Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign "headwind" hitting the U.S. economy.
After a meeting with German Chancellor Angela Merkel, he stressed the importance of German "leadership" on the issue -- a hint that he expects Berlin to help -- while expressing sympathy for the political difficulties European Union countries face in helping a struggling member state.
"I'm confident that Germany's leadership, along with other key actors in Europe, will help us arrive at a path for ...
Title:
Zombie Spending on Things Already Consumed
Yesterday, stocks continued to slide. The 10-year note yield fell to exactly 3%. Oil traded at $99. And gold rose another $4.
Has the post-crisis bounce finally exhausted itself? It’s beginning to look like it. But you wouldn’t be surprised if this turned out be just another feint to the downside, would you? We’ve seen several. We expected the end of the bounce last summer. Instead, the rally has held up for a full year longer than we expected.
Is it ready to roll over now? Let’ wait and see…
We’re attending a conference of financial analysts, investment advisors and writers.
What have we learned so far?
How about this? Porter Stansberry told us that together, public and private sectors in the US now spend $3.5 trillion just on interest. Since almost all the borrowed money was spent ...
Title:
A Greek Bond Rollover Agreement?
Yesterday was an interesting day in the currencies. I left you yesterday morning with the euro (EUR) barely hanging on to the 1.46 handle, and falling because of some German government official spouting off about the Greek bailout… Well… The markets soon figured out just what I told you yesterday morning, and that was, that the German official was merely trying to throw the markets off the scent of a rallying euro…
But then, along came another, brandishing a different kind of sword in which he would try to cut off the euro’s rise… This time it was Belgium’s Juncker, who has been a real thorn in my side lately with all his comments… But yesterday, Juncker decided to shout out that “the euro is overvalued versus other major currencies”… Those words deep-sixed the euro on the day, with it ...
Title:
Bernanke glum on growth but gives no stimulus hints
(Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday acknowledged a slowdown in the U.S. economy but offered no suggestion the central bank is considering any further monetary stimulus to support growth.
He also issued a stern warning to lawmakers in Washington who are considering aggressive budget cuts, saying they have the potential to derail the economic recovery if cuts in government spending take hold too soon.
A recent spate of weak economic data, capped by a report on Friday showing U.S. employers expanded payrolls by a meager 54,000 workers last month, has renewed investor speculation the economy could need more help from the Fed.
"U.S. economic growth so far this year looks to have been somewhat slower than expected," Bernanke told a banking conference. "A number of ...
|