Category: Forex News
EUR/USD April 3 – All Eyes on FOMC Minutes
Euro dollar has moved upwards above the 1.33 line, but has encountered some resistance. Will it break higher or retreat? Eurozone Unemployment nudged up to 10.8%, keeping with market expectations. The key event today is the FOMC Meeting Minutes, which is a detailed record of the FOMC’s most recent meeting. Here’s an update on technicals, fundamentals and
US ISM Manufacturing PMI Rises to 53.4, Erasing Doubts For Now
The purchasing managers’ index for the manufacturing sector in the US ticked up to 53.4 points from 52.4 last month. Early expectations stood on a rise to 53.3 points. This is the first major indicator towards the highly anticipated Non-Farm Payrolls report on Friday. The employment component also rose nicely: from 53.2 to 56.1 points.
EUR/USD April 2 – US Manufacturing PMI in the Limelight
Euro dollar showed some slight movement upwards over the weekend, edging up 0.08%. The last week in March ended with some mixed economic data out of Europe. French Consumer Spending was very strong, but German Retail Sales were down. We’ll start the week with the Eurozone Unemployment Rate, as well as four events in the US,
EUR/USD Mar. 23 – Rising in Range on Chinese Hope
Euro dollar is now extending the rise it began from the lower range, as rumors of Chinese cut of the RRR are cheering the markets. Nevertheless, the fundamentals haven’t changed: the debt crisis still weighs on various European countries, and the US continues improving, although quite slowly. Today we’ll get another short appearance from Bernanke, as
IMF Threatens to Cut Off Greece if €12 Billion of Austerity Isn’t Made in 3 Months
A new report by the International Monetary Fund on Greece requires 12 billion euros of more austerity measures in order to close the funding gap for both 2013 and 2014. The IMF expects Greece to pass these new measures within the next three months. Otherwise, it will withhold the next tranche of aid to Greece, due
US Jobless Claims Drop Below 350K
The number of employment claims dropped to 348K in the US, a bit better than 353K that was expected. Last week’s number was revised from 351K to 353K. All in all, the figures are within expectations and point to the same gradual improvement seen beforehand in the US labor market. This is the second time
GBP/USD Plunges on High Govt. Borrowing, Prospects of More QE
The UK’s Public Sector Net Borrowing hit 12.9 billion in February, much higher than 5.2 billion that was expected. It saw a surplus in January. In addition, the meeting minutes released from the recent rate decision showed that two members still want more QE (Posen and Miles) and aren’t settling for the current level of 325
British Inflation Slides as Expected
Britain’s Consumer Price Index dropped to 3.4%, as expected. A small surprise was seen in the Retail Price Index, which hit 3.7%, higher than expected. GBP/USD trades around 1.5860, very marginally higher than before the release. The consumer price index was expected to rise at an annual level of 3.4%, weaker than last month’s 3.6%. RPI was
US Inflation Remains Stable
The consumer price index rose by 0.4%, and Core CPI by 0.1%. CPI was expected to rise by 0.4%. Core CPI held expectations for a rise of 0.2%. The dollar retreats after the figures were published. EUR/USD is around 1.3120, and USD/JPY is falling towards the 83.50 line. In the last FOMC Statement, more emphasis
Philly Fed Index Rises to 12.5 – Completes Series of Positive US Figures
The US Philly Fed Index Rises to 12.5. Early expectations stood on a rise from 10.2 to 11.9 points. This is a small positive surprise, and joins other positive US figures released earlier. The Philly Fed Manufacturing Index is a very fresh indicator – for the current month of March, making it of high importance. The