Posts Tagged ‘unemployment rate’

Two encouraging pieces of news emerged from the UK economy on Tuesday, both of which are likely to give the British Pound a boost in the currency markets and will be of keen interest to anyone involved in online Forex trading.

Stronger Growth Than Expected

The first of these was the announcement from the CBI that the British economy expanded at a faster rate in the past quarter than it did in the quarter before that.
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Two of the biggest pieces of online forex trading news that emerged this week and caught the attention of traders from all around the world had their origins in Europe and China.

As all good forex traders know, the key to making profits in the currencies markets is accurately predicting movements in price in advance.

These two pieces of important news strongly suggest that there will be movements in price within some of the major global currencies (such as the Euro and Renminbi).
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The final week of April has witnessed the Euro tumble once again as the jobless rates in the European Union hit an all-time high of 12.1% awhile inflation slowed to 1.2%; rates not seen since February of 2010.

Of notable importance for online forex traders is the marked unemployment figures released from both Spain and Germany. While the figures in Germany may be seen as comparatively marginal, those in Spain represent the continued weakness of the fifth-largest economy in Europe.
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The German Unemployment Report is expected to support the bleak outlook for the Eurozone as unemployment in the area’s largest economy is forecasted to increase in June. Undoubtedly, the forecast for the Eurozone is not a rosy one, especially considering Greece is expecting a 9% contraction of their (more…)

Forex Traders are worried Fridays release of the US unemployment rate was way worse then expected and now the US Dollar might face further decrease.

American Labor Department reported that the much higher unemployment rate could be due to lagging data. The non-farm payroll employment fell by 216 000 jobs in August, followed by a revised decrease of 276 000 jobs in July. The new numbers are indication that America is now facing a 9.7 % unemployment rate, the highest in 26 years. Financial analysts and currency traders did expect a 9.4 % unemployment rate in July.

Further pressure on US Dollar

However, it seems like the decrease have moderated the last months, even if some sectors still face continued job losses. Still, consumer confident might be lagging in the coming months. As a result of the unexpected numbers from USA, many online forex traders assume that the US Dollar will continue to suffer against the Euro and Yen.