Eur/usd - page 166
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German jobless claims rise by 13,000 in September
The number of unemployed people in Germany rose unexpectedly in September, while the country’s jobless rate held steady at a record low, official data showed on Tuesday.
In a report, Germany's Federal Statistics Office said the number of unemployed people increased by a seasonally adjusted 13,000 this month, compared to expectations for a drop of 2,000.
Jobless claims increased by 3,000 in August, upwardly revised from a previously reported gain of 2,000.
The report showed that Germany’s unemployment held steady at 6.7% in September, in line with expectations and unchanged from August.
EUR/USD was trading at 1.2684 from around 1.2686 ahead of the release of the data, while EUR/GBP was at 0.7799 from 0.7801 earlier.
Meanwhile, European stock markets remained mostly higher. Germany's DAX tacked on 0.1%, the DJ Euro Stoxx 50 inched up 0.3%, France’s CAC 40 added 0.4%, while London’s FTSE 100 slumped 0.1%.
source
Euro zone inflation slows to 0.3% in September
Consumer price inflation in the euro zone slowed in line with expectations in September, underlining concerns over the threat of deflation in the region, official preliminary data showed on Tuesday.
In a report, Eurostat said consumer price inflation increased by a seasonally adjusted 0.3% this month, meeting forecasts and slowing from 0.4% in August.
The rate has now been below 1% for 12 straight months, well under the European Central Bank's target of near but just under 2%.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 0.7% in September, following a 0.9% increase in August.
EUR/USD was trading at 1.2632 from around 1.2664 ahead of the release of the data, while EUR/GBP was at 0.7789 from 0.7797 earlier.
Meanwhile, European stock markets remained mixed. The DJ Euro Stoxx 50 inched up 0.3%, Germany's DAX tacked on 0.1%, France’s CAC 40 added 0.4%, while London’s FTSE 100 slumped 0.1%.
source
Eurozone Inflation Drops To Fresh 5 Year Low, EURUSD Tumbles
Anyone confused why futures are doing their best to surge in the overnight session, the answer is simple: first it was Japan reporting the latest batch of atrocious economic data, which an hour ago was followed by Europe own abysmal econofreakshow, where Eurostat just reported that in September Eurozone inflation rose a meager 0.3% from a year ago, the lowest annual increase since October 2009.This marks the 12th straight month that Euro inflation has been below 1%, and far below the ECB's goal of 2% inflation.
More importantly, it also shows that some 3 months of a sliding Euro have not only had zero impact on European export competitiveness, as the entire continent is careening into a triple dip recession, but that the ECB is completely powerless to create an inflationary spark, as not only is the bulk of the Eurozone flirting with disinflation but more and more European countries are in outright deflation.
Also of note, while headline inflation was in line with expectations, it was core CPI that missed expectations of a 0.9% increase, and rose by only 0.7%, confirming that the most recent bout of deflation in Europe is about far more than just sliding energy prices. In fact for the culprit, perhaps look at Japan which is now exporting deflation hand over fist.
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Euro’s Worst Quarter Since 2010 Leaves It at Two-Year Low
The euro dropped to the lowest level in two years against the dollar as slowing inflation boosted the case for the European Central Bank to add further monetary stimulus to avert deflation.
The 18-nation currency headed for its worst quarter since 2010 amid the ECB’s moves to swell its balance sheet and cut borrowing costs to spur growth. Russia’s ruble slumped after Bloomberg News reported the central bank is weighing capital controls, and the Canadian dollar weakened as the nation’s economy stalled. The U.S. dollar has climbed this quarter as the Federal Reserve considers raising interest rates.
“The violence of this euro move has been fairly dramatic,” said Camilla Sutton, head of currency strategy at Bank of Nova Scotia in Toronto. “We’re in this period of broad U.S. dollar strength. It’s fairly hard for almost any currency to strengthen in that kind of environment.”
The euro dropped 0.4 percent to $1.2633 at 1:19 p.m. New York time and touched $1.2571, the weakest since September 2012. It has lost 3.8 percent this month and plunged 7.7 percent since June 30, the most since second-quarter 2010. The euro fell 0.3 percent today to 138.51 yen.
The dollar gained 0.2 percent to 109.66 yen and reached 109.85, the highest since August 2008. It has gained 5.4 percent in September and 8.2 percent since June 30.
The ECB meets Oct. 2. The euro has tumbled almost 10 percent from a two-and-a-half year high reached in May as policy makers unveiled unprecedented stimulus to arrest a slide in inflation that threatened the region’s emergence from its debt crisis. A weaker currency may suit bank President Mario Draghi as it makes euro-area exports more competitive, while increasing consumer prices by making imports more expensive.
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thanks for the news
Spain’s Manufacturing PMI 52.6 vs. 52.2 forecast
Spanish manufacturing sector activity fell less-than-expected last month, official data showed on Wednesday.
In a report, Markit Finacial Information Services said that Spain’s Manufacturing PMI fell to 52.6, from 52.8 in the preceding month.
Analysts had expected Spain’s Manufacturing PMI to fall to 52.2 last month.
German manufacturing PMI 49.9 vs. 50.3 forecast
Germany’s manufacturing PMI fell unexpectedly last month, data showed on Wednesday.
In a report, Markit Economics said that German manufacturing PMI fell to a seasonally adjusted 49.9, from 50.3 in the preceding month.
Analysts had expected German manufacturing PMI to remain unchanged at 50.3 last month.
Eurozone manufacturing PMI slips to 50.3 in September
Eurozone manufacturing PMI slips to 50.3 in September
EURUSD traded sharply lower yesterday after convincingly taking out the November 13, 2012 bottom at 1.2660. The next downside target on a daily chart is Fibonacci extension target at 1.2507. Today is not about support and resistance, but momentum. Watch for volatile swings in either direction as investors focus on what the European Central Bank (ECB) will announce at its policy meeting tomorrow.
The dollar traded higher against EUR but almost unchanged against GBP.
The euro fell against the dollar after mainly because manufacturing growth in the Euro-area slowed further more in September.