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👤Nurudeen Amedu
🕔September 22, 2016
Last week the number of Americans who filed for unemployment benefits dropped to a 2 month low, hinting at the labor market’s growing strength that could cause the Federal Reserve to raise their interest rates by December. The uptick shown by the US initial jobless claims data came just a day after the US central bank decided against an interest rate raise but showed strong signs that it could increase borrowing costs before the end of the year, as they cited the progressive growth in the labor market and a strong rally in economic growth.…
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👤Nurudeen Amedu
🕔September 20, 2016
Officials of the Reserve Bank of Australia (RBA) have decided against employing further easing bias at their meeting this month, a strong hint that interest rates will maintain their current value further into the future.
“Taking into account the recent data, and having eased monetary policy at its May and August meetings, the Board judged that the current stance of monetary policy was consistent with sustainable growth in the Australian economy and achieving the inflation target over time,” the minutes of the September 6 policy meeting showed Tuesday.…
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NAHB Index Posts 11 Month High
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👤Nurudeen Amedu
🕔September 19, 2016
- Growing household income raises home sales
- Positive NAHB numbers could raise clamor for a near term rate hike
The National Association of Homebuilders’ monthly housing market index, a measure of builder sentiment soared to 65 this month, evenly matched against the 11 month high that was the highest for the index since the year 2005.…
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Eurozone Current Account Surplus Slips to €21.0 Billion
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👤Nurudeen Amedu
🕔September 19, 2016
The 19 bloc euro area today posted figures which showed an expansion in their current account, despite a shrinkage in the account surplus for the month of July there was a record surge in investments. The surplus recorded for the 19 country euro zone reached €21 billion, as it dropped from a previous value of €29.6 billion which was mostly fuelled by rising net portfolio investments of €58 billion.…
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Weekly Market Outlook
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👤Nurudeen Amedu
🕔September 18, 2016
The relevance of the Bank of Japan and the Federal Reserve bank monetary policy decisions to the currency market this week cannot be overstated, especially as the market now brims with confusion stemming from the Bank of Japan’s position. The absence of a decision will also cause a potentially high volatility, especially as the Bank of Japan plans to steepen the yield curve liable to work against any fresh policy easing.…
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👤Nurudeen Amedu
🕔September 17, 2016
The currency market last week did not have many fundamental market movers, as most of its major releases failed to cause any major shock to the market. The BoE kept rates unchanged and the US August CPI did not reveal any shocking developments.…
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👤Nurudeen Amedu
🕔September 16, 2016
The Federal Reserve board revealed yesterday that the US total industrial production dropped 0.4% lower for the month of August. This is on the trail of a 0.6% growth in July, which was an unrevised 0.7%. The figure was marginally lower than the 0.3% slump analysts had anticipated according to a survey conducted by Thomson Reuters.…
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👤Nurudeen Amedu
🕔September 15, 2016
The Australian unemployment rate dropped to its lowest reading in 3 years in figures posted for the month of August, strengthening the case for an Australian interest rate cut in the coming months with the weakness shown by the country’s job market.…
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👤Nurudeen Amedu
🕔September 14, 2016
The most recent release coming from the American Petroleum Institute (API) weekly inventory data reported a rise of 1.4 million barrels for last week. On the trail of a huge 12.1 million barrel draw in the week before, market analysts had forecasted a larger rise of over 4 million barrels.…
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👤Nurudeen Amedu
🕔September 13, 2016
An increase of 0.1% was reported for UK producer output prices for the month of August as the annual increase climbed to 0.8% from 0.3% it previously stood at with price declines last year factored out of the calculation. This is now the highest annual increase since the end of 2013, despite the fact that it was below market anticipation of a 0.3% monthly growth.…
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