Forex News
Strong retail sales growth over the second quarter
• QII Total volumes rose 1.7% QoQ, to be up 4.2% YoY (CBA(f) +1.4%QoQ, market +1.5%)
US July Retail Sales Rise Modestly
• Retail sales in July 2013 rose 0.2% in the month, which was slightly weaker than the 0.3% expected.
RBA Statement on Monetary Policy – August 2013
The lack of forward policy guidance following the RBA’s decision to cut interest rates on 6 August had most RBA watchers happy to sit on the sidelines and leave their rate calls unchanged.
Labour Force – July 2013
Today’s 10.2k fall in jobs in July was worse than market expectations, which centred on a small rise of 5k {CBA (f) +12k}.
RBA Board Meeting – August 2013
The decision at the RBA Board meeting to cut the cash rate by 25bpts to a new record low of 2½% was accompanied by a rare uniformity of views.
US Personal Consumption Increase Met Expectations in June
• Personal consumption rose 0.5% in June 2013, thereby matching market expectations.
US July Payroll Employment Rises Moderately
• July 2013 non-farm payroll employment was 162,000 following downwardly revised gains in June and May of 188,000 and 176,000, respectively.
Morning FX Market Commentary
Dollar gains on strong US eco data The post-Fed decline of the dollar was short-lived. Lower US jobless claims and a strong ISM of the manufacturing sector propelled the dollar higher,
Non‑farm payrolls to round off a bumper week
All eyes turn to the US labour market report to round off the week. Consensus expectations are for a decent 185k jobs gain. But this would be below readings for the past 3 months.
PPI – QII 2013
The very mild 0.1% increase in the final stage QII PPI together with the low (0.4% and 2.4%pa) QII CPI readings last week indicate
Draghi: Expect Key Rates at Current or Lower Levels for Extended Period
Following the hold of the European central Bank to the interest rate at its record low of 0.50 percent today,
ECB Leaves Refi Rate Unchanged At 0.50%
The European Central held interest rates for the third month running in August amid signs the euro area is getting out of recession.