Press review - page 29

Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-09-11 08:30 GMT (or 10:30 MQ MT5 time| [GBP - Claimant Count Change]

  • past data is -36.3K
  • forecast data is -22.0K
  • actual data is -32.6K according to the latest press release

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.

The 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.

Consequently, 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 percent.

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.

Sergey Golubev
Moderator
113440
Sergey Golubev  

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 ounce.

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.

AM-PM Roundup with Jim Wyckoff
AM-PM Roundup with Jim Wyckoff
  • www.kitco.com
Kitco News) - 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...
Sergey Golubev
Moderator
113440
Sergey Golubev  

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 Unemployment Rate Climbs To 5.8%

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.

Unemployment 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.


Sergey Golubev
Moderator
113440
Sergey Golubev  

2013-09-12 09:00 GMT (or 11:00 MQ MT5 time| [GBP - Inflation Report Hearings]

==========

Watch the video here

Bank of England | Publications | Treasury Committee Hearings | Treasury Committee Hearings - Inflation Report
Bank of England | Publications | Treasury Committee Hearings | Treasury Committee Hearings - Inflation Report
  • www.bankofengland.co.uk
The Governor and other members of the Monetary Policy Committee give evidence on a regular basis before the Treasury Committee.
Sergey Golubev
Moderator
113440
Sergey Golubev  

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 330,000.

Sergey Golubev
Moderator
113440
Sergey Golubev  
  • Trading is much more than just picking a position and ‘hoping’ that the trade works out.
  • Trading is about risk management, and looking to focus on the factors that we know.
  • This strategy focuses on capitalizing on US Dollar volatility, and using risk management to offer potentially advantageous setups in the market.

(the source)

Sergey Golubev
Moderator
113440
Sergey Golubev  

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 Friday.

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.

Sergey Golubev
Moderator
113440
Sergey Golubev  

US Dollar Set for Explosive FOMC…But Does it Rally or Collapse?



Fundamental Forecast for US Dollar: Neutral

  • Market heavily pricing in a Taper at Wednesday’s meeting, but unclear how far markets have adjusted for it
  • Despite the dramatic moves from Treasuries, carry trade, emerging markets; there has been little adjustment from S&P 500
  • Trade the US Dollar’s momentum following the FOMC decision

The event 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 dollar?

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.

US Dollar Set for Explosive FOMC…But Does it Rally or Collapse?
US Dollar Set for Explosive FOMC…But Does it Rally or Collapse?
  • John Kicklighter
  • www.dailyfx.com
The event 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...
Sergey Golubev
Moderator
113440
Sergey Golubev  

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.


Forex - EUR/USD erases gains after downbeat U.S. consumer sentiment data
Forex - EUR/USD erases gains after downbeat U.S. consumer sentiment data
  • Investing.com
  • www.investing.com
Investing.com - 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...
Sergey Golubev
Moderator
113440
Sergey Golubev  

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