2013-09-11 08:30 GMT (or 10:30 MQ MT5 time| [GBP - Claimant Count Change]
If actual < forecast = good for currency (for GBP in our case)
U.K. Jobless Claims Decline Sharply In August
Britain's jobless claims declined more-than-expected in August to
the lowest since February 2009, official data showed Wednesday.
number of people claiming Jobseeker's Allowance decreased 32,600 to
1.40 million, the smallest since February 2009, the Office for National
Statistics said. Economists had expected a fall of 21,000.
the claimant count rate for August edged down to 4.2 percent from 4.3
percent in July. The rate was expected to remain unchanged at 4.3
The unemployment rate for three months to July came in
at 7.7 percent, down 0.1 percentage point from February to April period.
The rate was slightly below the expected 7.8 percent.
Gold Ends Steady as Most Markets Squelched, Awaiting FOMC Next Week
Gold prices ended the U.S. day session near
unchanged in quiet and lackluster trading Wednesday after hitting a
three-week low early on. More risk appetite in the market place this
week has been a bearish weight on safe-haven gold. The precious metals
and most other markets are on hold at present, awaiting fresh
fundamental inputs to drive market prices. December Comex gold was last
up $0.30 at $1,364.30 an ounce. Spot gold was last quoted up $1.30 at
$1365.00. December Comex silver last traded up $0.164 at $23.18 an
The next important piece of U.S. economic news on
the docket this week will be Thursday morning’s weekly jobless claims
report. Many traders and investors are looking ahead to next week’s
meeting of the U.S. Federal Reserve’s Open Market Committee (FOMC). A
slight majority of the market place believes the U.S. central bank at
next week’s meeting will announce it will begin to scale back, or
“taper” its monthly bond-buying program. For the past several weeks the
market place has been fixated on what the U.S. central bank will
announce at the conclusion of next week’s FOMC meeting.
2013-09-12 01:30 GMT (or 10:30 MQ MT5 time| [AUD - Unemployment Rate]
If actual < forecast = good for currency (for AUD in our case)
Australia's unemployment rate came in at a seasonally adjusted 5.8
percent in August, the Australian Bureau of Statistics said on Thursday -
in line with forecasts and up from 5.7 percent in July.
But the Australian economy
lost 10,800 jobs in August - missing by a mile forecasts that had
suggested an increase of 10,000 jobs. That follows the loss of 10,200
jobs in the previous month.
Full-time employment decreased 2,600 to 8,128,800 and part-time employment decreased 8,200 to 3,508,300.
increased 9,400 (1.3 percent) to 714,100. The number of persons looking
for full-time work decreased 2,300 to 516,300 and the number of persons
looking for part-time work increased 11,700 to 197,800.
2013-09-12 09:00 GMT (or 11:00 MQ MT5 time| [GBP - Inflation Report Hearings]
Watch the video here
2013-09-12 12:30 GMT (or 14:30 MQ MT5 time| [USD - Jobless Claims (Initial Claims)]
U.S. Weekly Jobless Claims Show Unexpected Decrease
First-time claims for U.S. unemployment benefits unexpectedly
decreased in the week ended September 7th, according to a report
released by the Labor Department on Thursday, with claims falling to
their lowest level in over seven years.
The Labor Department said
initial jobless claims dropped to 292,000, a decrease of 31,000 from the
previous week's unrevised figure of 323,000. The decrease came as a
surprise to economists, who had expected jobless claims to climb to
2013-09-13 12:30 GMT (or 14:30 MQ MT5 time| [USD - Retail Sales]
actual > forecast = good for currency(for USD in our case)
U.S. Retail Sales Rise Less Than Expected In August
Retail sales in the U.S. rose by less than expected in the month of
August, according to a report released by the Commerce Department on
The report said retail sales rose by 0.2 percent in August
following an upwardly revised 0.4 percent increase in July. Economists
had expected sales to climb by 0.5 percent compared to the 0.2 percent
growth originally reported for the previous month.
US Dollar Set for Explosive FOMC…But Does it Rally or Collapse?
Fundamental Forecast for US Dollar: Neutral
dollar traders – and really investors in all asset classes – have long
waited for is finally upon us. Speculation surrounding the FOMC’s Taper
decision has run rampant, spurring expectations and fear of an explosive
reaction to a big shift in the market’s support structure. In fact, the
discussion over this inevitable event has proven so prolific that we
have already seen forecasts amongst economists and banks establish a
clear consensus for a moderation of stimulus at the September meet while
yield sensitive assets (like the benchmark US Treasury) have suffered
sharp adjustments. Much of the actual impact an event like this has
comes through the ‘surprise’ factor, but is there any surprise left in
this event? Could this be a ‘buy the rumor, sell the news’ event for the
For the most decisive support for the US dollar, a $15 billion or larger reduction
alongside a status quo tone would carry the most weight. The mechanics
in supporting the currency through this outcome require we tap into
something far more elemental: market-wide investor sentiment. A glaring
holdout to the Taper adjustment we have seen these past months, US
equities led by the S&P 500 are perhaps the poster-child of ‘moral
hazard’ – taking on excessive risks as participants feel they are will
be absorbed by someone else. This is where the dollar’s potential really
lies. If record leverage translates into disorderly unwinding the safe
haven will soar.
EUR/USD erases gains after downbeat U.S. consumer sentiment data
The euro erased gains against the U.S. dollar on Friday, after the
release of downbeat U.S. consumer sentiment data, while market attention
turned to the Federal Reserve's upcoming policy meeting next week. EUR/USD hit 1.3258 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.3264, shedding 0.24%. The pair was likely to find support at 1.3167, the low of September 9 and resistance at 1.3340, the high of August 29.
In a preliminary report, the University of Michigan said U.S. consumer
sentiment fell to a six-month low of 76.8 in September, from a reading
of 82.1 the previous month, confounding expectations for a decline to
82.0. The report came after official data showed that U.S.
retail sales rose 0.2% in August, disappointing expectations for a 0.4%
rise, after an upwardly revised 0.4% increase the previous month.
Core retail sales, excluding automobiles, rose 0.1% last month,
confounding expectations for a 0.3% gain, after an upwardly revised 0.6%
increase in July. A separate report showed that U.S. producer
price inflation rose 0.3% in August, more than the expected 0.2%, after a
flat reading the previous month. Core producer price
inflation, excluding food and energy, was flat last month, compared to
expectations for a 0.1% rise, after a 0.1% gain in July. The
data came amid growing uncertainty over whether the U.S. central bank
will start to unwind its USD85 billion-a-month asset purchase program.
Meanwhile, euro zone finance ministers were meeting in Vilnius,
Lithuania, to discuss further reforms to strengthen the region's banking
sector. On Thursday, the European Parliament approved
legislation to allow the European Central Bank to oversee banks in the
17 nation currency bloc. ECB President Mario Draghi said the vote was “a
real step forward” in establishing a banking union. The euro was also lower against the pound with EUR/GBP declining 0.59%, to hit 0.8365.
THEY'LL be clinking champagne glasses at the People's Bank of China after reading Goldman Sachs's latest gold forecast. The Chinese central bank will be looking forward eagerly to filling more of its vaults with the metal at bargain basement prices.
Read more about China stocks up on gold as price tumbles