Forex News
Monthly Business Survey
Business confidence lifted slightly in April to +6 from +4, returning to long-run average levels after hitting a post-election low last month.
China PBOC Zhou Says No Stimulus
People’s Bank of China governor Zhou Xiaochuan said that the government will not resort to massive stimulus measures easily, dashing the hopes of some economists and
Fed Fisher: Taper Won’t Restrict Liquidity
Dallas Federal Reserve Bank President Richard Fisher said Friday the central bank’s continued tapering of large scale asset purchases will not restrict the liquidity needed for economic growth.
Core inflation above consensus and Norges Bank
• April core inflation at 2.5% above consensus, but below our forecast • 0.2% points above Norges Bank forecast , but temporary Easter effect pulled up
NY Fed: US Monetary Authorities Did Not Intervene in FX in Q1
The New York Federal Reserve Bank Thursday announced there was no intervention in currency markets in the first quarter. The complete statement follows:
Norges Bank: No significant change in view
• No change in rates • Norges Bank is not clearly stating that the development has been as expected.
Labour Force – April 2014 – Jobs growth continues over April
The solid lift in jobs over April bettered market expectations which were centred on a modest increase of 8.8k {CBA (f) +9k}.The news is good for the economy and policy makers.
US: no surprises from Yellen
Fed chairman Yellen provided no surprises in her prepared remarks to the Joint Economic Committee of Congress today. Thus she reiterated the views expressed by the FOMC at its most recent meeting last week,
Retail Trade – March 2014
Retail trade increased by 0.1% in March, below forecasts of a 0.4% rise. The modest rise follows numerous months ofhigh outcomes. And, despite the low increase in sales over March,
Rate Hikes Questioned
For now, we are sticking with our published view that the RBNZ raises its cash rate in both June and July. But this is highly currency dependent and, the way things are going, a near term pause is looking increasingly likely.
Net Exports Will Still Be a Drag on Q1 GDP
Exports and Imports Improved in March Total exports increased 2.1 percent in March with goods improving 2.8 percent, while services rose by only 0.4 percent.
NOK: Stronger labour market
• Registered unemployment came in at 2.8% below forecast at 2.9% • Clearly on the strong side to Norges Bank • But the timing of Easter can explain the drop