Forex News
U.S. Manufacturing Activity Expanded at a Slower Pace in April; Construction Spending Declined in March
– The Institute for Supply Management (ISM) manufacturing index declined to 50.7 in April 2013 from 51.3 in the previous month; market expectations had been for a decrease to 50.6.
US private payrolls increase 119,000 in April
The USD resumed its drop against major currencies after US private payrolls for April came below analysts’ forecasts, raising worries before Friday’s non-farm payrolls report.
UK manufacturing PMI rises
Following the upbeat UK gross domestic product figures released last week which showed that Britain managed to avoid a triple-dip recession,
China: recovery losing momentum but not yet dramatic
China’s NBS manufacturing PMI in April eased slightly to 50.6 from 50.9 in March, which, in line with other recent data,
U.S. Consumer Confidence Jumps in April; Home Prices Rise Sharply in February
– US consumer confidence jumped 6.2 points to a five-month high of 68.1 in April 2013 from a reading of 61.9 in March. Market expectations were for an April reading of 61.0.
Canadian February GDP Rises More than Expected
– February 2013 GDP came in at a stronger than expected 0.3% following an upwardly revised 0.3% gain in January.
Euro Zone: Inflation down to 1.2% in April
Inflation surprised on the downside in April. According to Eurostat’s figures released this morning, inflation declined to 1.2%, its lowest rate since early 2010.
Germany: Jobless rate at 6.9% in April
The unemployment rate was unchanged at 6.9% in April, remaining for the seventh month in a row near its lowest level in more than twenty years.
Can do better
GDP growth in Q1 proved disappointing as the federal government kept cutting spending massively and business investment fell to grow steadily.
US GDP rises less than expected
The US GDP grew at an annual rate of 2.5 percent in the first three months of 2013, as consumer outlays unexpectedly rose at the strongest pace in almost three years.
J. Asmussen: Interest rate cut would not be effective
European Central Bank Executive Board member Joerg Asmussen said an interest rate cut by the ECB would not be effective to euro-area.
A slight rebound in GDP
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%.