Fed’s Fischer says U.S. job gains still solid, Fed on track for Dec. rate hike

Job gains in the United States remain solid and growth should pick up in the second half of the year, Fed Vice Chair Stanley Fischer said on Sunday in remarks that indicate the central bank remains on track for a December rate increase. The United States is “close to full employment,” Fischer said in remarks prepared for delivery to the Group of 30, a panel of current and former central bankers, regulators and academic economists, during the annual meetings of the International Monetary Fund and World Bank…

U.S.-based companies announced layoffs rise by 38%, hits 2-month high

The number of announced layoffs by U.S.-based companies rose in September to the highest level in two months, global outplacement consultancy Challenger, Gray & Christmas reported Thursday. Employers announced plans to cut 44,324 jobs last month, a 38 percent increase from August, when total job cuts of 32,2188 fell to lowest total since May…

Euro and Asian stocks lower, sterling hits 30-year low over ECB taper talks

Oil prices surged on Wednesday after a report showed a drop in U.S. crude stockpiles, fuelling energy shares and helping lift Wall Street along with encouraging economic data. In Europe, bond yields jumped while the pan-European STOXX index fell 0.6 percent, with markets rattled by the prospect of the region’s central bank eventually winding down its bond-buying stimulus…

U.S. trade gap widens 3% to 40.73 billion in August

U.S. services sector activity rebounded to an 11-month high in September, an encouraging sign for economic growth that may increase the prospect of a Federal Reserve interest rate hike this year. The Institute of Supply Management (ISM) said on Wednesday its non-manufacturing activity index surged to a reading of 57.1, the highest level since October 2015. Last month’s reading followed a disappointing drop in August…

U.S. private employers added 154,000 jobs in September, August numbers revised lower: ADP

U.S. private employers added 154,000 jobs in September, below economists’ expectations, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 166,000 jobs, with estimates for the gain ranging from 140,000 to 181,000.
Private payroll gains in the month earlier were revised down to 175,000 from an originally reported 177,000 increase…

U.S. auto sales decline in September amid pullbacks in fleet deliveries

Light-vehicle sales sputtered in the U.S. last month despite generous Labor Day holiday deals, with most of the market’s biggest sellers reporting declines from the prior September. While the pace of sales remains historically strong, dealership traffic is cooling after more than six years of steady growth. General Motors Co. , Ford Motor Co. , Fiat Chrysler Automobiles NV and Honda Motor Co. posted declines…

U.S. new home sales fell 7.6% in August but sales up 20.6% from a year ago

WASHINGTON—Sales of newly built homes pulled back in August after surging the prior month, though the broader trend showed solid momentum in the market for single-family houses. Purchases of new, single-family homes declined 7.6% in August from the prior month to a seasonally adjusted annual rate of 609,000, the Commerce Department said Monday. It was the largest one-month drop since September 2015. Economists surveyed by The Wall Street Journal had expected sales would fall 8.0% to a 602,000 pace in August…

UK financial services confidence down for third consecutive quarter after Brexit vote: CBI survey

Britain’s financial services are becoming increasingly anxious about life after the Brexit vote, according to the latest detailed survey of confidence in the sector. Optimism dropped for the third consecutive quarter in the three months to September, according to the research jointly produced by the CBI business lobby group and the accountancy firm PwC…

CA GDP m/m | September 30, 2016 | Currency News

CA GDP is expected to come in at a reading 0.3%. A stronger reading should add support for the currency whereas a weaker reading will probably drive the loonie weaker for at least a couple of hours… Here’s the forecast: 8:30am NY Time CA GDP m/m Forecast 0.3% Previous 0.6% DEVIATION: 0.3% (BUY CAD 0.6% […]

U.S. home builders confidence soars to highest level in 11 years

WASHINGTON—Confidence among U.S. home builders about the market for single-family homes rose this month to match its highest level in 11 years, suggesting rising demand for new residential construction that could boost the broader economy. The National Association of Home Builders housing-market index increased six points from the prior month to a seasonally adjusted 65 in September, the trade group said Monday…

U.S. stocks hit 2-month high after Fed Brainard’s dovish comments

U.S. stocks rose on Monday after two Federal Reserve officials struck a less hawkish tone on interest rate hikes, quelling some investor fears about a move as early as next week. Atlanta Fed Bank President Dennis Lockhart said current economic conditions warranted a “serious discussion” on whether to raise rates at the Fed meeting on Sept. 20-21, but later said there was no “urgency” to act at any particular meeting…

UK CPI y/y | September 13, 2016 | Currency Trading

UK CPI y/y release should provide some market reactions as traders are watching further supporting data out of UK for easing, especially if this release were to miss expectation today. 4:30am NY Time UK CPI y/y Forecast 0.7% Previous 0.6% DEVIATION: 0.3% (BUY GBP 1.0% / SELL GBP 0.4%) The Trade Plan We are looking […]

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