China import rocketed in July

August 9, 2013

The US dollar was traded downwards on Thursday against all major currencies and fell to 7-week low according to the dollar index amid Unemployment Claims which according to the US Labor Department rose by 5 thousand last week from 328 thousand to 333 thousand. Last week data were revised for the worse by 2 thousand. Meanwhile FOMC member Richard Fisher said again on Thursday in the interview to German newspaper Handelsblatt that he considered reducing of assets purchase in September possible if the situation in the economy worsened significantly.

The euro continued rising and approached to the level of 1.34 Vs dollar. According to the Federal Statistics Office of Germany trade surplus grew significantly in June up to €15.7 bln Vs revised upwards May reading €14.6 bln, consensus €15.2 bln. German Current Account Surplus also turned out higher in June than forecasted. It grew from €11.2 bln in May to €17.3 bln having exceeded the forecast of €16 bln.

The yen rose at first after 2-day meeting of the Bank of Japan that finished on Thursday where its policy was kept unchanged in expectation of new economic growth data which will be published next week. However, then the yen lost all its growth amid stock indexes strengthening. Bank of Japan Governor Kuroda introduced a more positive economy estimate on Thursday and called upon increasing sales-tax.

The Australian dollar had grown by the end of the day having almost no reaction on bad non-farm payrolls. Employment rate in Australia decreased by 10.2 thousand in July while a growth by 6 thousand was expected. However, unemployment rate didn’t change and maintained the same 5.7% Vs growth to 5.8% consensus. The AUD was also supported by other commodity currencies – Chinese trade balance for July. Though Trade Surplus dropped from $27.1bln prior month to $17.8 bln – China’s import grew by 10.9% and the export from Australia to China increased by 25%.  

The Canadian dollar rose significantly in anticipation of Canadian non-farm payrolls having shown the most considerable one day growth almost within a month. Extra 10, 000 jobs are expected to have been added in the Canadian economy in July and unemployment rate have remained at the same 7.1%. The released New Housing Price Index grew in June a little more than expected by 0.2% Vs growth by 0.1%Consensus.

Publication source
MasterForex information  MasterForex reviews

September 29, 2016
OPEC blinks
Yesterday decision by OPEC to restrict oil supply has pushed the price of crude higher by some 5%. The move took the markets by surprise, with the divisions between Iran (who are still enjoying their return to global markets)...
September 29, 2016
Gold weighed down by US data
The gold price is down for a second straight day today as investors await a raft of data from the US this week which may decide the question of an interest rate hike...
September 29, 2016
Informal OPEC meeting seizes limelight
Global stocks were chaotic on Tuesday with most equities vibrating between losses and gains as the mixture of anticipation ahead of OPEC - informal meeting and ongoing discussions over the results of the first presidential debate created explosive levels of volatility...

FxPro Rating
XM Rating
Vantage FX Rating
HotForex Rating
HYCM Rating
FXCM Rating

Banc De Binary Rating
OptionsXO Rating
Beeoptions Rating
EZTrader Rating
OptionRally Rating
OptionFair Rating