Yesterday we saw sharp drop in Euro peers caused by disappointing data from German/EU ZEW Economic sentiment. The Euro currency was very strong on believes that European Central bank is not going to act in the end despite several previous statements. However, the data came with fears that the German economy slows down and needs some additional stimulus to spur it. Later we heard Bundesbank to back up the ECB in case of easing stimulus. That should make additional pressure on the single currency. At 8.30AM (GMT) the Claimant Count Change and Unemployment rate will be released. Both data are expected to come out very strong. Last time we saw that the unemployment rate dropped surprisingly to its lowest value since April 2009. Today the expectation is to see the rate even lower and that might pull the British pound up.
Price of commodities remains quiet today. WTI Crude oil yesterday added almost $2/barrel as the American Petroleum Industry report showed decline in stockpiles. Today the main movement we can see on Platinum which is driven up in bullish sentiment. U.S. Indices finished yesterday slightly lower, however we should not forget that DJI and SP500 reached the record high the day before.
Today’s main events:
08.30 GMT: GBP – Claimant Count Change – measures the change in the number of unemployed people in the U.K. during the reported month
08.30 GMT: GBP– Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
12.30 GMT: USD– PPI – measures the change in the price of goods sold by manufacturers.
23:50 GMT: JPY-GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
May 14, 2014 – Forex Daily News
Today’s Hot Assets: GBP, USD, WTI
Yesterday we saw sharp drop in Euro peers caused by disappointing data from German/EU ZEW Economic sentiment. The Euro currency was very strong on believes that European Central bank is not going to act in the end despite several previous statements. However, the data came with fears that the German economy slows down and needs some additional stimulus to spur it. Later we heard Bundesbank to back up the ECB in case of easing stimulus. That should make additional pressure on the single currency. At 8.30AM (GMT) the Claimant Count Change and Unemployment rate will be released. Both data are expected to come out very strong. Last time we saw that the unemployment rate dropped surprisingly to its lowest value since April 2009. Today the expectation is to see the rate even lower and that might pull the British pound up.
Price of commodities remains quiet today. WTI Crude oil yesterday added almost $2/barrel as the American Petroleum Industry report showed decline in stockpiles. Today the main movement we can see on Platinum which is driven up in bullish sentiment. U.S. Indices finished yesterday slightly lower, however we should not forget that DJI and SP500 reached the record high the day before.
Today’s main events:
08.30 GMT: GBP – Claimant Count Change – measures the change in the number of unemployed people in the U.K. during the reported month
08.30 GMT: GBP– Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
12.30 GMT: USD– PPI – measures the change in the price of goods sold by manufacturers.
23:50 GMT: JPY-GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
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