Forex News
Unemployment rate falls sharply to 5.8% in March
The decent lift in jobs over March bettered market expectations which were centred on a small rise of 2.5k {CBA(f) +11k}.The outcome was particularly impressive given the big spike in jobs over February.
Prewarning Norway: No further lift in core inflation
• Core inflation slightly on the downside to Norges Bank • Weaker NOK if we are right
Sweden: Riksbank – dovish without cutting
The Riksbank left the repo rate unchanged at 0.75%. The board was not unanimous in its decision. Both Governor Ekholm and Flodén voted for a rate cut to 0.50 %.
Fed Plosser: Zero Rate Dangerous If Unemploy Down, Inflation on Target
Philadelphia Federal Reserve Bank President Charles Plosser said Tuesday it would be “dangerous” to leave interest rates unchanged at a historically low level if the jobless rate falls near 5% and the inflation rate is near the Fed’s target of 2%.
Fed Kocherlakota: Return To 2% Inflation Could Take 4 Years
Minneapolis Federal Reserve Bank President Narayana Kocherlakota said Tuesday that while he expects inflation is headed back toward the central bank’s 2% target, it would take as long as four years to get there.
ECB Weidmann: Ready To Act To Counter Prolonged Low Inflation
European Central Bank Governing Council member Jens Weidmann said Tuesday that the ECB is ready to act in case of a prolonged period of low inflation but warned that the central bank’s remaining monetary policy
BOJ Keeps Policy Target, Says Growth on Track Despite Tax Hike
The Bank of Japan said Tuesday that its board, as widely expected, decided by a unanimous vote to leave the bank’s policy target unchanged while repeating that the economy will stay on
Jobs, surveys and statistical noise…
The March labour force numbers swing into focus this week.We expect employment to rise by 11k in March, which would besufficient to leave the unemployment rate at 6%.
Draghi: ECB ‘Resolute’ On MonPol, ‘Unanimous’ on Non-Stan Tools
European Central Bank President Mario Draghi vowed Thursday that the Governing Council was “resolute” in its aim of providing an accommodative monetary policy for the euro area.
Sweden: Services PMI falls back
The service sector PMI in March came in at 53.5, which was clearly lower than in February but still points to a decent growth in the sector.
Trade Balance, February 2014
The February trade surplus was much larger than expected, coming in at $1,200mn. Market consensus was looking for asurplus around $800mn (CBA (f): $850mn).
Fed Lockhart: 1st Hike Likely Latter Half of 2015
Atlanta Federal Reserve Bank President Dennis Lockhart said Wednesday he supports the continued unwinding of Fed asset purchases, but short-term interest rate hikes should be delayed until at least the second half of next year.