FOREXYARD: Forex News Blog | |
- Swiss KOF Barometer in Decline
- Japanese Unemployment Falls 0.2% in October
- British Consumers Increasingly Pessimistic
- Weekly Fundamental FX Preview – US Monetary Policy Back in Focus
| Swiss KOF Barometer in Decline Posted: 28 Oct 2011 07:19 AM PDT
This morning's publication of Switzerland's KOF Economic Barometer revealed an economic outlook that has dipped somewhat since last month's reading. A combination of economic indicators is now portraying economic conditions slightly more pessimistically than before. The measure only fell by approximately 0.2 points from 1.00 to 0.80, a measure that still falls within optimist territory, but only slightly. The Swiss economy has fared relatively well over the last several years, only recently falling from a gouging effect brought on by an artificially strong currency. |
| Japanese Unemployment Falls 0.2% in October Posted: 28 Oct 2011 07:17 AM PDT
A surprise indicator from the Japanese economy this morning revealed an employment sector growing modestly through the autumn months. Expectations were for a worsening of the unemployment situation in Japan due to the decline in manufacturing and industrial production lately. The actual results produced a surprise uptick in optimism about Japan as unemployment fell this past month from 4.3% to 4.1%. The report tends to have less impact on the value of the JPY, though it is a significant indication of job growth in the struggling island economy. |
| British Consumers Increasingly Pessimistic Posted: 28 Oct 2011 07:04 AM PDT
A survey conducted of roughly 2,000 British citizens asking them to rate their views on the state of the economy found that pessimism is growing in the UK. The report, issued by GfK NOP, reported a decline by two base points in their survey measure. The findings were only mildly below forecasts, which expected no change from last month's reading of -30. The actual report came in at -32, making the pessimism only slightly higher, but still ominous given the news surrounding the rest of Europe to the south and east of Britain. |
| Weekly Fundamental FX Preview – US Monetary Policy Back in Focus Posted: 28 Oct 2011 06:23 AM PDT
Today's consolidation in the G10 currencies is not too surprising given the awesome rally the majors put in yesterday and in particular for the month of October versus the USD. The start of the new month will be highlighted by both the FOMC meeting as well as Friday's NFP jobs report with particular emphasis being placed on Ben Bernanke’s press conference Thursday. In the month of October markets stood next to the cliff and slowly backed away with rallies of 11.8% in the Dow Jones Industrial Average and a 6% gain for the EUR/USD. Though yesterday's impressive move for the EUR do not come without their doubts as questions swirl regarding the EFSF leverage capabilities, Chinese political requirements for participation in the EU rescue, and new disheartening French growth prospects. US Q3 GDP has helped to keep the double dip recession talk at bay though today's flat core PCE price index is a stark reminder of the deflationary pressures that still linger in the US economy. Thus Wednesday's FOMC meeting/statement/Ben Bernanke press conference will be highly anticipated as some FX players have begun offloading USD in preparation for a third round of quantitative easing. With the addition of the FOMC press conference to the Fed's tool chest of communication tools, might Ben Bernanke sow the seeds for QE3 here? Read more forex trading news on our forex blog. |
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