The euro was under moderate pressure as markets tried to assess the impact from the S&P downgrade of Spain. The rise in Spain’s unemployment rate was also of no help. The EUR/USD cross rate was changing hands in the 1.3160 area around the open of the European markets. However, the reaction, on the currency market
The Happy Trio EUR USD And GDP Read More »
Economic events scheduled for today 08:30 CAD GDP Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. Canada releases fresh GDP data on a monthly basis. 13:30
Market Review April 30 2012 Read More »
After the main event of the week, the FOMC meeting on Wednesday, gold futures ended down only $1.5 or -0.09 percent. Mid day gold fell $15 to $1,625 after the FOMC policy statement was released, and then swiftly rebounded to $1,650 and settled at $1,642.3. Gold futures rose $18 to 1,660.5 on Thursday but fell
Gold Bounces On The FOMC Read More »
Gold climbed for a third day as weak U.S. employment figures disappointed and a softer tone for the dollar was set Wednesday after the Federal Reserve kept interest rates on hold and Fed Chairman Ben Bernanke said he remained willing to buy more bonds should the economy need help. Data showed first-time claims for unemployment
Gold Climbs On Dovish Fed Read More »
The April FOMC statement differed only in a few, mostly unimportant details from the March one and contained no hint whatsoever of a change in policy. The Committee was slightly more optimistic on the economic outlook and was marginally more attentive to inflation, but at the same time upped its guard about the downside risks
Interpreting Fed Speak Read More »
The number of Americans who applied for jobless benefits remained elevated for the third straight week, suggesting some weakening in the U.S. labor market. Jobless claims fell by 1,000 to a seasonally adjusted 388,000 in the week ended April 21, the U.S. Labor Department said Thursday. Claims from two weeks ago were revised up to
You Can't Have An Economic Recovery Without Jobs Read More »
The UK economy is back in recession, its first double-dip recession since the 1970s, following a surprise 0.2% drop in GDP in the first quarter of 2012. Analysts had anticipated modest growth of 0.1-0.2%. The pound dropped following the news as markets expect that the Bank of England will be forced to resume its quantitative
UK Does Double Dipping Read More »
The main event this week—the Federal Open Market Committee meeting/Ben Bernanke press conference—concluded today. Markets and investors, news casters and financial analysts had built this into the meeting of all meeting, market expectation were high, markets for weeks have been searching for and positioning themselves for more monetary easing. They were sure that the Fed
The Main Event This Week Was A Dud Read More »
Gold may gain for a second day after better-than-forecast company earnings and signs the U.S. economy is improving drove global equities higher. Spot gold was little changed at $1,641.95 an ounce at 9:39 a.m. in Singapore after climbing 0.2 percent yesterday as the dollar dropped to a three-week low against a six currency basket including
Gold and Crude Oil Review Read More »
Consumer confidence has fallen in Canada, partly on concerns about employment and recession and high prices, according to the latest data from the Conference Board of Canada. This month, the board’s Index of Consumer Confidence dropped 4.5 points from March, leaving negative attitudes at their highest level in more than two years. The index now
Canada Gets Hit With A Double Whammy Read More »
