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Weekly Us Unemployment ClaimsTitle:
U.S. New Orders for Durable Goods Rose 0.2% in April
U.S. New Orders for Durable Goods Rose 0.2% in April; Initial Claims Inched Downward in the Latest Week
- New orders for durable goods inched up 0.2% in April 2012 following a revised 3.7% decline (previously reported as -3.9%) in March. The gain in April matched market expectations.
- Transportation orders unexpectedly rose 2.1% as rising motor vehicle orders offset falling orders for defence aircraft. Excluding the transportation component, orders fell 0.6% following a 0.8% decline (previously was -1.3%) in March and well below market expectations for a 0.8% gain.
- Orders of non-defence capital equipment excluding aircraft, a commonly used proxy for future business investment, fell 1.9% following a revised 2.2% decline (previously was -3.9%) in March. The corresponding ...
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European Market Update : 24/05/2012
Major European PMI Manufacturing data misses expectations; German IFO Business Confidence falls for the first time in 7 months
Economic Data
(RU) Russia Gold & Forex Reserve w/e May 18th: $514.3B v $518.8B prior
(DE) Germany Q1 Final GDP Q/Q: 0.5% v 0.5%e; Y/Y: 1.7% v 1.7%e; GDP WDA Y/Y: 1.2% v 1.2%e
(DE) Germany Q1 Private Consumption: 0.4% v 0.2%e; Government Spending: 0.2% v 0.3%e; Domestic Demand: -0.3% v 0.0%e; Capital Investment: -1.1% v -0.3%e; Construction Investment: -1.3% v -0.4%e; Exports: 1.7% v 0.9%e; Imports: 0.0% v 0.3%e
(CH) Swiss Apr Trade Balance (CHG): 1.3B v 1.9Be; Real Exports M/M: -0.9% v +0.2%e; Real Imports M/M: 2.6% v 5.9% prior
(FI) Finland Apr PPI M/M: -0.1% v +0.4% prior; Y/Y: 1.4% v 1.4% prior
(FI) Finland Apr Preliminary Retail Sales Volume Y/Y: -2.0% v ...
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EUR/USD Falls to 21-Month Low
The EUR/USD fell as low as 1.2614 yesterday, a 21-month low, after investors grew increasingly concerned regarding Greece's fate in the euro-zone and shifted their funds to safe-haven assets. The currency pair staged a mild upward correction later in the day, eventually stabilizing around the 1.2655 level. Turning to today, euro traders will want to pay attention to several potentially significant news events. Specifically, the German Manufacturing PMI and Ifo Business Climate may help the euro recoup some of yesterday's losses if they come in above expectations.
Economic News
USD - Dollar Sees Significant Gains amid Risk Aversion
The US dollar moved up against several of its main currency rivals yesterday, as ongoing fears regarding Greece's future in the euro-zone have led to risk ...
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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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Higher Yielding Currencies Maintain Bearish Trend
Higher Yielding Currencies Maintain Bearish Trend
Higher yielding currencies, namely the EUR and AUD, remained bearish during European trading yesterday, as fears that Greece will have to leave the euro-zone led to risk aversion in the marketplace. Investors are now worried about what the possible effects of a Greek exit from the euro-zone would be for other indebted countries, including Spain and Italy. Today, traders will want to note that there is a bank holiday in France, Germany and Switzerland. That being said, news out of the US may lead to market volatility. The Unemployment Claims figure and Philly Fed Manufacturing Index are both forecasted to show US economic growth. If true, the USD could see gains during the afternoon session.
Economic News
USD - Manufacturing Data Could ...
Title:
USD is Preferred Haven
USD is Preferred Haven
USD remains firm ahead of today's FOMC minutes and amid ongoing EU concerns. UK PM Cameron put the situation in the euro area rather succinctly saying that "it either has to make up or face a potential breakup". The dollar index is continuing its ascent towards mid-January highs after breaking a medium term bear channel. Economic data due out shortly incldes April housing starts which are forecast to gain by 4.7% m/m, building permits which are anticipated to fall by -4.5% m/m, and industrial production which is expected to show growth of 0.6%. The minutes from the April 24-25 FOMC meeting will be released at 1400ET and will provide insight into the whether or not the Fed discussed additional measures.
EUR is nearing the 2012 lows against the USD as the euro ...
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U.K. Unexpectedly Surprises Markets with Upbeat Jobs Report
The sentiment improved today after the United Kingdom provided markets with the jobs report, where unemployment has unexpectedly dropped in the three months ending in March, raising optimism that the "balanced budget" previously provided by the Chancellor of Exchequer, George Osborne, might have a positive impact on the royal economy and the labor market as well, despite speculations joblessness will peak 8.7% this year before falling again.
Unemployment in the United Kingdom unexpectedly fell to 8.2% from the previous of 8.3%, beating estimates of 8.4%, the thing that raised positivity in the market, supporting the sterling pound to erase most of the losses incurred earlier today; however, the sentiment is still mixed after Greeks found no common grounds regarding the creation of the ...
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