Forex News
ECB cuts refi rate by 25 bp
ECB cuts the refi rate by 25 bp to 0.25%. (depo rate unchanged; marginal lending rate down 25bp).
Morning FX Market Commentary
Dollar hardly profits from strong ISM On Tuesday, EUR/USD traded with a slightly negative bias. Traders were cautious on the euro ahead of the ECB.
Labour Force – October 2013
October’s small 1.1k lift in jobs was weaker than market expectations. which centred on a 10.0k increase. Full-time jobs fell by 27.9k, which was offset by a 28.9k increase in part-time employment.
Norges Bank right now
No change in rate path Downside surprises: lower inflation, signs of weakness in domestic demand, lower rates abroad.
Morning FX Market Commentary
Dollar hardly profits from strong ISM On Tuesday, EUR/USD traded with a slightly negative bias.
Trade Balance – Sept 2013 – Trade deficit improved in Sept to $284mn
The trade deficit was smaller than expected in September, coming in at $284mn. Market consensus was expecting adeficit around $500mn (CBA (f): 350mn).
QIII Employment Surges
Employment growth was much stronger than expected over Q3, surging 1.2% QoQ. This was accompanied by a strong liftin the participation rate and
US ISM Non-Manufacturing Index Unexpectedly Improved in October
The Institute for Supply Management (ISM) non-manufacturing index improved to 55.4 in October 2013 to retrace some of the 4.2 point decline to 54.4 in September.
Macro viewpoint: Less internal, more external risk to Europe’s recovery
There were no major surprises in the forecasts the European Commission published today under the title “Gradual recovery, external risks”.
Swedish service PMI signals gradual improvement
The service sector PMI rose to 53.7 in October from 53.3 in September.
Morning FX Market Commentary
EUR/USD correction takes a breather EUR/USD found a new equilibrium in the 1.35 area after last week’s setback.
RBA on hold in November – AUD in focus
Melbourne Cup day has been a popular choice for cash rate changes. Rates were changed on six out of the past sevenNovembers. But no commentator was expecting a move today and