Forex News
Bank of Canada Holds Overnight Rate at 1.00% and Maintains Mild Tightening Bias
• The Bank of Canada left the overnight rate unchanged at 1.00% as expected and maintained its forward guidance that rates are likely to stay low for
Bank of Canada leaves interest rate unchanged at 1%
The Bank of Canada left its benchmark rate on overnight loans between commercial banks stagnant at 1% for the 22 consecutive meeting,
German unemployment rises
German unemployment soared for a third straight month in May, yet the economy is still expected to recover earlier than other euro area nations.
Sweden: Q1 GDP beats forecasts
Swedish GDP was much stronger than expected in the beginning of the year. GDP rose by a full 0.6% q/q.
Consumer Confidence Rises Solidly in May
Consumers Begin To Believe There is a Recovery Four years in, consumers finally appear be recognizing there is an economic recovery underway.
US: Rebounding orders
The durable goods industry recorded a rebound in new orders in April. The trend in new and unfilled orders is consistent with manufacturing production rebounding in the months ahead,
Germany: Q1 GDP growth confirmed at 0.1% q/q
Q1 GDP second estimate confirmed that it increased 0.1% q/q. Demand component breakdown pointed that private consumption, up 0.8%,
US New Home Sales Rise in April
• The pace of new home sales climbed 2.3% to an annualized 454,000 in April 2013, which was above market expectations for a 425,000 reading,
US Initial Claims Dropped
US initial claims dropped 23,000 the week ending May 18, 2013 after jumping 35,000 to an upwardly revised 363,000 (was 360,000) the previous week.
Euro Zone: Contracting, but at slower pace
Output was still contracting in May, although at a slower pace, according to PMI flash estimates released this morning.
UK GDP, up by 0.3%
Output rose by 0.3% q/q in Q1 2013 after falling by 0.3% the previous quarter. On year-on-year basis, GDP increased by 0.6%.
U.S. Existing Home Sales in April Rise to Highest Level Since November 2009
– Existing home sales in the US rose to 4.97 million annualized units in April 2013 from March’s revised 4.94 million sales (initially reported as 4.92 million).