Reply to thread

Message: [QUOTE="MasterForex Broker, post: 51791, member: 16067"] [size=2][b]Overview of the main economical events of the current day - 09/09/2013[/b] [color="#4169E1"][b]The Main Events of the Week[/b][/color][/size] The dollar dropped on Friday and leveled almost all weekly growth after the release of Non-Farm Payrolls that fell short of expectations. In August in the USA economy there were created only 169 thousand non-farm jobs against the forecast of 180 thousand. However, data revision downwards turned out much larger – for two past months by whole 74 thousand. The largest revision was for July – by 58 thousand: from 162 thousand to 104 thousand – it was the weakest NFP growth for more than a year. [center][B]Employment Change and Unemployment Rate in the USA[/B] [IMG]http://masterforex.com/useruploads/images/aug_nfp-eu.png[/IMG][/center] Unemployment rate continued falling in August and dropped by 0.1% to 7.3% - against 7.4% in July. However, unemployment decrease was ignored like prior month. Unemployment decrease reflects labor force reduce. Labor force participation rate fell to 63.2% last month –the lowest level since August, 1978 compared with 63.4% a month before. The number of new jobs created every month has never exceeded 200 thousand within recent 6 months. It significantly lowers the chances to start tapering off QE3 at the Fed September meeting – or it will be the lowest (by 10 bln). FOMC member Charles Evans making speech on Friday said that the Fed would probably reduce bond purchases later this year – but the central bank wouldn’t have enough information for it by September meeting. By the end of the week the dollar showed the smallest growth according to the dollar index – only by 0.1%. The dollar grew against the yen (+0.91%), the Swiss franc (+0.80%) and the euro (+0.35%); and dropped against New Zealand dollar (-3.59%), Australian dollar (-3.19%), Canadian dollar (-1.24%) and British pound (-0.88%). At the second week of the month there are not a lot of important statistics data that can influence the markets significantly. There will be a publication of industrial output, labour market and inflation data. In the euro-zone there will be a release of industrial output data and ECB Monthly Bulletin on Thursday and trade balance and Employment Change – on Friday. Industrial output data will be also published in other euro-zone countries: in France – on Tuesday, in Italy – on Thursday. On Tuesday the final Italian GDP for the second quarter will be released; and on Thursday - Consumer Price Index of France and Italy. In the UK BOE Credit Conditions Survey will be released on Tuesday and labour market data – on Wednesday. On Thursday Inflation Report Hearings will be held where the Bank of England Chairman Mark Carney and other central bank members will make speeches. In Japan the final GDP for the second quarter and Current Account data will be released on Monday, on Tuesday – the last Bank of Japan meeting minutes, on Wednesday - - BSI Manufacturing Index and on Thursday - Core Machinery Orders. The decision of the Bank of New Zealand on the key interest rate will be announced on Thursday, no changes are expected. In Australia labour market report on Thursday may become the most important event. In Canada Building Permits will be released on Monday and New Housing Price Index – on Thursday. In China inflation data will be released on Monday, Industrial Output, Retail Sales and Fixed Asset Investment – on Tuesday. In the USA Wholesale Inventories and Trade Sales data will be released on Wednesday, on Thursday - Import Prices and Federal Budget Balance, on Friday – Retail Sales, Producer Price Index and Prelim U. of Michigan Consumer Sentiment. From Tuesday to Thursday the US Department of Treasury will sell long-term bonds. Voting on Syria in the Senate, the upper house of the US Parliament will be held on Wednesday. In the lower house of Parliament the voting can be delayed at least for a week. President Obama is going to make an announcement to the nation about the situation in Syria on Tuesday, September 10. [/QUOTE]

Verification

Top Bottom