Foreign exchange market
Forex. AUDSUD: Aussie Gets Stronger Along With Australia's Labor Market
Mon, 21 Mar 2016 13:39:00 +0400
Australia's labor market keeps on strengthening. February's figures reported by Australia's official statistical agency confirm that. At the same time, the latest RBA meeting minutes show that the labor market stats are going to play one of the key roles in the future decisions related to the central bank's monetary policy this year.
When adjusted for seasonality, the unemployment rate dropped all the way down to 5,8% in February 2016 as opposed to January's 6,0%. At the same time, experts had anticipated zero change and therefore their predictions eventually failed.
Apparently, lower unemployment is a good sign for any economy out there, especially today when the global economy is slowing down, and the same holds true China – the world's second biggest economy and Australia's major outlet (it is not a secret that the Australian economy is heavily dependent on its commodity export to China). To be more specific, higher unemployment reduces the chances of the RBA easing its monetary policy and increases the chances of a stronger national currency.
A further hike above the local high of 0.7649 will give way to other highs, thereby making the Aussie even stronger against its American counterpart. If that's the case, the closest targets are 0.7656, 0.7818/49. Alternatively, a break below the bottom of the ascending MF sloping channel and MF pivot 0.7413 will put an end to the rally and indicate the recovery of the U.S. Dollar against the Aussie.
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Publication date: 21 March 03:23 PM
According to Rosstat, Russia's federal statistical agency, the local industrial production indicated some growth in February 2016 fro the first time since January 2015, Market Leader reports. After January's 0,9% increase followed a period of continuous decline in Russia's industrial sector.
Publication date: 21 March 01:25 PM
January's wholesale figures remained unchanged in Canada. This is confirmed by the latest report released by Canada's official statistical agency. While auto sales dropped, sales in other sectors made up for the drop, Market Leader reports.
Publication date: 21 March 01:12 PM
Forex. EURUSD: Euro Rallies On Germany Construction Sector Figures
According to the construction sector report released by Destatis, Germany's federal statistical agency, the amount of construction permits in Germany increased by 8,4% up to 309 000 units over 12 months as of February 2016.
Publication date: 21 March 12:57 PM
Forex USDCHF: Franc Strengthens on Swiss PPI
Switzerland's Producer Price Index (PPI) and import kept going down in February. The latest report released by the Swiss Federal Statistical Office reports that. Still, the pace of this decrease turned out the be the lowest one over the past 12 months.
Publication date: 21 March 10:28 AM
Forex. GPBUSD: Pound Rallies On UK Labor Market Stats
The recent report published by the Office for National Statistics (ONS) says that the rate of unemployment in Great Britain slightly declined in January 2016. At the same time, it is reported that salaries and wages started growing faster over the same reporting period, Market Leader reports.
Publication date: 21 March 10:15 AM
SFX Markets Expands FX Trading Software Line
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Publication date: 21 March 07:13 AM
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Publication date: 19 March 04:53 PM
According to the recent report released by Eurostat, the Eurozone's industrial production showed some strength in January 2016, Market leader reports. In particular, the figures got 2.1% stronger over the reporting period relative to a 0.5% drop a month before. That's a pretty strong gain in 4 weeks, experts say, especially as January's figures exceeded the 1,7% forecast made by the expert community.
Publication date: 18 March 10:10 AM
The Reserve Bank of Australia has recently released the March meeting minutes. The meeting was dedicated to the central bank's monetary policy amid today's economic and financial situation in the country and worldwide. It should be noted that the central bank reiterated favorable conditions for interest rate cuts amid an economic slowdown in Australia and around the globe, Market Leader reports.
Publication date: 18 March 09:56 AM