While growth disappointed in Q4 we still see scope for growth in the area of 2.5% in 2012. Consumption growth is underpinned by decent income growth as employment is picking up and inflation has come down. And exports are likely to recover as export markets are recovering slowly. Corporate investment Read More US A Soft [...]
Posted in FX News | Tagged a, gdp, likely, more, qe3, report, soft, us
The Asian session saw the AUD slide 20 points after RBA minutes that were more dovish than expected. It then rebounded, only to fall 40 points after the China GDP data came in below expectations. But China did say there was little chance of a second dip for the country Read More AUD Dips On [...]
Posted in FX News | Tagged aud, china, data, dips, dovish, gdp, minutes, on, rba, soft
The troubles for the UK economy continue as we had quite soft manufacturing data released overnight. Manufacturing production fell 0.3% in August, following a slide of 0.2% in July. That jives with the 49.4 reading from the manufacturing PMI we saw in August, though that index turned back into positive Read More UK Data Soft, [...]
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The Aussie started the week on the backfoot on Sunday as both building approvals and retail sales data came in softer than expected. If both the housing sector as well as consumer spending slows it can put the brakes on the RBA’s rate hiking campaign. The positive trade report however Read More Dovish RBA Adds [...]
Posted in FX News | Tagged adds, aussie, but, dovish, fundamentals, of, rba, recent, soft, stronger, to, tone, trade
Markets breathed a collective sigh of relief as Greece formerly adopted austerity measures. That should allow the release of the next tranche of its 2010 bail-out package, with Sunday’s emergency Eurozone finance ministers meeting fully expected to approve this. Greece looks likely to avoid a default, for now. While markets Read More Diverging Policy Decisions [...]
Posted in FX News | Tagged decisions, diverging, patch, policy, soft, through
Jean-Claude Juncker, head of the euro-zone finance ministers, has backed Germany’s proposal for a “soft restructuring” of Greece’s debt, but said any contribution from private sector creditors should be “voluntary”. Read More Juncker backs a soft Greek debt restructuring
Posted in FX News | Tagged a, backs, debt, greek, juncker, restructuring, soft
Risk-on trading took a pause around 10 AM ET, as the US posted its Chicago PMI and Conference Board Consumer Confidence index, both coming in weaker than expected, and continuing the theme of softening US fundamental data. The Dollar slipped against the Yen, giving back a chunk of its gains from Read More US Data [...]
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FXstreet.com (Barcelona) – EUR/USD spent another day relatively quiet, supported by Asians who took… For more information, read our latest forex news. Read More Day WrapUp Dollar lower after soft data
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Euro area composite PMI declined to 55.0 from 55.4 pulled down by a decline in service PMI from 55.4 to 53.7, disappointing both us and consensus. In contrast manufacturing PMI increased from 55.3 to 56.8 and is now signaling that GDP growth should be as high as 3.5% q/q annualised. Read More Euro area PMI [...]
Posted in FX News | Tagged area, euro, is, manufacturing, of, out, pmi, soft, spot, the
Yesterday, the dollar ceded ground as the Fed turned more cautious on the pace of the recovery. So, the US currency won’t get interest support any time soon. The UK minutes showed that the BoE turned more concerned on inflation. Sterling rallied and EUR/GBP set a minor new low a Read More Soft Fed Statement [...]
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