Top 10 Weekly Forex Market Headlines – 08.22.2014

USD vs Major Currencies - % Weekly Change | August 15 ~ 22, 2014

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1. Israel resumes air strikes after rockets are fired from Gaza

Israel resumes air strikes after rockets are fired from GazaAugust 19, The temporary ceasefire between Israel and Hamas was in jeopardy on Tuesday after rockets were fired from Gaza, triggering a swift military and political response from Israel. The Israel Defence Forces (IDF) said it was targeting “terror sites across the Gaza Strip” in retaliation, and the prime minister, Binyamin Netanyahu…

2. U.S. housing starts up sharply in July, inflation tame

U.S. housing starts up sharply in July, inflation tameAugust 19, U.S. housing starts surged to an eight-month high in July, suggesting the nation’s housing market recovery was back on track after stalling in the second half of last year. While the rebound points to sustained economic strength, other data on Tuesday showed inflation largely under wraps, which could give the Federal Reserve room to maintain its ultra-easy monetary policy stance for a bit longer.

3. UK CPI falls to 1.6% in July, easing pressure on BOE to hike rates

UK CPI falls to 1.6% in July, easing pressure on BOE to hike ratesAugust 19, British inflation fell more than expected in July and surging house price growth slowed in June, making it less likely the Bank of England will raise interest rates this year. Inflation dropped to 1.6 percent in July from June’s five-month high of 1.9 percent, according to official data that sent sterling tumbling to a four-month low against the dollar…

4. BOE officials split as Weale, McCafferty vote for rate hike

BOE officials split as Weale, McCafferty vote for rate hikeAugust 20, Bank of England policymakers broke ranks over interest rates for the first time in three years this month, when two unexpectedly voted to tighten policy and revived speculation about a 2014 rate hike. Former academic Martin Weale and business economist Ian McCafferty both voted to raise interest rates to 0.75 percent from 0.5 percent…

5. Japan July exports rise 3.9% y/y, fuels recovery hope

Japan July exports rise 3.9% y/y, fuels recovery hopeAugust 20, Japan’s exports rose in July for the first time in three months in a tentative sign that overseas demand is starting to recover, which could raise hopes that exports can offset a slump in consumer spending. The export data will be a relief for the Bank of Japan, which has predicated its economic growth and inflation forecasts on a rapid rise in exports…

6. U.S. housing market gains steam as existing home sales rise for 4th straight month

U.S. housing market gains steam as existing home sales rise for 4th straight month August 21, Americans resold their homes in July at the fastest pace in almost a year, a sign the housing market was gaining steam again after a year-long slump. The National Association of Realtors said on Thursday existing home sales increased 2.4 percent to an annual rate of 5.15 million units. That was above analysts’ expectations and marked the fourth straight month the pace of home resales accelerated…

7. EU manufacturing PMI falls to 13-month low, services PMI down to 53.5

EU manufacturing PMI falls to 13-month low, services PMI down to 53.5August 21, Euro zone private business growth slowed more than expected this month, despite widespread price cutting, as manufacturing and service industry activity both dwindled, a survey showed on Thursday. Euro zone economic growth ground to a halt in the second, quarter, dragged down by a shrinking economy in Germany and a stagnant France…

8. China factory activity hits 3-month low, poll sees modest recovery for Japan

China factory activity hits 3-month low, poll sees modest recovery for JapanAugust 21, China’s manufacturing activity hit a three-month low in August, raising the case for fresh policy steps to keep growth on track, while a Reuters poll showed Japan’s economic recovery is likely to be modest despite a small acceleration in the factory sector. Surveys conducted by HSBC/Markit and Reuters highlighted fragility in recovery of the world’s second- and third-largest economies…

9. Fed hints at potential for early rate hike given improving jobs market recovery

Fed hints at potential for early rate hike given improving jobs market recoveryAugust 21, The U.S. Federal Reserve hinted on Wednesday that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating. At the same time, most Fed officials wanted further evidence before changing their view on when rates should rise, according to the minutes from the central bank’s July 29-30 meeting…

10. Russian trucks cross border, Ukraine calls move a ‘direct invasion’

Russian trucks cross border, Ukraine calls move a 'direct invasion'August 22, At least 70 trucks from a controversial Russian aid convoy have entered Ukraine against Kiev’s wishes and begun making their way towards the embattled city of Luhansk, further escalating tensions between the two countries. After a statement by Russia’s foreign ministry saying it could “not wait any longer” on the convoy of about 260 trucks…

About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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