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The Labor Market Is Far From Out of the Woods

Wells Fargo Investments, LLC — Fri, 07 Jan 2011 21:11:41 +0000

With 2010 ending on a bright note, it is easy to become overly optimistic on the U.S. economy. To be certain, there has been a great deal of uplifting economic news in recent weeks. The unemployment rate tumbled a surprising 0.4 percentage points in December and factory orders and industrial production are picking up steam. We have also seen steady improvements in motor vehicle sales and broader retail sales, a rebound in tourism and travel related businesses and a solid, broad-based rise in

Forex: EUR/USD falls more than 400 pips in the first week of 2011

FXstreet.com — Fri, 07 Jan 2011 20:44:00 +0000

FXstreet.com (Córdoba) – The Euro fell sharply against the Dollar in the beginning of 2011 and...

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US Nov Consumer Credit rises $1.35B in November

FXstreet.com — Fri, 07 Jan 2011 20:12:23 +0000

FXstreet.com (Barcelona) For more information, read our latest forex news.

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US: Consumer Credit: 1.350 $

FXstreet.com — Fri, 07 Jan 2011 20:00:00 +0000

Date (GMT)	Event	Cons.	Actual	Previous
Jan 7 20:00	Consumer Credit	0.000 B $	1.350 B $	7.000 B $

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US Nov Consumer Credit rises $1.35B in November (FXstreet.com)
Fri, Jan 7 2011, 20:12 GMT

Asian market wrap: Early flurry fails to trigger EUR/USD stops

FastBrokersFX — Fri, 07 Jan 2011 19:23:18 +0000

There was a bit of early activity in the EUR/USD after a weak close in NY at 1.3000. Two big European players tried to trigger stops below 1.2960 but were thwarted mainly by Sovereign bids at 1.2965/70. The market jumped smartly thereafter but could not break back above hourly resistance at 1.3020. The remainder of the session has been ranging either side of 1.3000. Ranges: EUR/USD 1.2968/1.3020, EUR/CHF 1.2535/63 The AUD has traded with a mildly weak tone, firstly influenced by the lower

US Non-Farm Payrolls: data is a mess

MIG Bank — Fri, 07 Jan 2011 18:39:39 +0000

December payrolls rose 103,00, well below the consensus, 150 000 and my initial ‘guesstimate of 160,000, and far short of the 297,000 ADP number. The net revision was +70,000, though. Unemployment fell unexpectedly to 9.4% from 9.8%, and hourly earnings rose 0.1%; consensus was 0.2%. This is a cold(ish) shower after the excitement generated by ADP; private payrolls rose 113,000, below the 128,000 average for the previous 3 months. And 44,000 of the jobs were in education, while temp job growth

Turkey: dramatic rebound in economic growth

Danske Bank A/S — Fri, 07 Jan 2011 18:30:24 +0000

We present an updated outlook on the Turkish economy taking into account the latest economic releases for Q4 in 2010. The Turkish economy has experienced quite a dramatic rebound in economic growth. In Q2 10 the economy expanded 10.3% y/y – an impressive rate that represents the top of the emerging market universe. However, with the base effect fading, the growth rate moderated to 5.5% y/y in Q3. With this drop we also moderate our 2010 estimate from 9.4% to 8.5% and lower our 2011 growth

Crude oil tumbles under $88.00

FXstreet.com — Fri, 07 Jan 2011 18:29:00 +0000

FXstreet.com (Barcelona) - Crude oil is coming under heavy pressure in the remaining hours of the...

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USD in the Spotlight; Euro and Precious Metals Fall

FXstreet.com: Technical: Technical Analysis Reports — Fri, 07 Jan 2011 18:24:39 +0000

The Forex market came back to full force this week and drove the USD in anticipation of better economic form the US, the most important one being the Non-Farm payroll. The market stalled before this important release for the USD crosses. Other major themes to start 2011 was continuing woes for the Euro, and for many a surprising drop in gold and silver. The Aussie is also making a sharp reversal. After the Non-Farm Payroll, the USD-Crosses looked dollar-negative. There was a strong bearish

Forex: EUR/USD easing towards 1.2900

FXstreet.com — Fri, 07 Jan 2011 18:12:00 +0000

FXstreet.com (Barcelona) - The EUR/USD extends further to the downside, breaking past support most...

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