Top 10 Weekly Forex Market Headlines – 05.08.2015

US Dollar vs Major Currencies % Weekly Change | May 1~8, 2015

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1. China HSBC/Markit PMI index hits 1-year low in April

China HSBC PMI hits 1-year low in AprilMay 4, China’s factories suffered their fastest drop in activity in a year in April as new orders shrank, a private business survey showed on Monday, hardening the case for fresh stimulus measures to halt a slowdown in the world’s second-largest economy. The latest indication of deepening factory woes raises the risk that second-quarter economic growth may dip below 7 percent for the first time since the depths of the global crisis…

2. IMF insists in tough labor reforms, says Greek labor minister

IMF insists in tough labor reforms, says Greek labor ministerMay 4, Greece intends to meet debt payments this month and reach a deal with its international lenders to unlock remaining bailout aid, but the International Monetary Fund insists on tough labor reforms, the country’s labor minister said on Monday. Struggling amid a cash crunch, Athens faces debt repayments to the IMF totaling nearly 1 billion euros this month. It has been borrowing from municipalities and government entities to meet obligations…

3. Oil prices retreat off 2015-high as Saudi Arabia plan to halt bombing

Oil prices retreat off 2015-high as Saudi Arabia plan to halt bombingMay 4, Oil eased toward $66 a barrel on Monday after reaching a 2015 high, as ample current supplies and weak Chinese factory activity countered expectations of a tighter supply and demand balance later this year. The collapse of oil prices in 2014 has prompted expectations that supply growth in higher-cost crude producers such as the United States will slow. On Friday, oil services firm Baker Hughes Inc…

4. Australia’s RBA cuts rates again this year to 2.0%

Australia’s RBA cuts rates again this year to 2.0%May 5, Australia’s central bank cut interest rates for the second time this year on Tuesday, seeking to buttress the economy against sliding mining investment while heading off a harmful increase in the local dollar. The currency did initially drop after the Reserve Bank of Australia (RBA) trimmed its cash rate a quarter point to a fresh all time trough of 2.0 percent. Yet it soon rallied as investors wondered whether the easing cycle might now be over…

5. U.S. trade deficit jumps 43% in March, hits 6-1/2 years high

U.S. trade deficit jumps 43% in March, hits 6-1/2 years highMay 5, A surge in imports lifted the U.S. trade deficit in March to its highest level in nearly 6-1/2 years, suggesting the economy contracted in the first quarter. Growth, however, is regaining momentum as other data on Tuesday showed activity in the services sector, which accounts for more than two-thirds of the economy, accelerated to a five-month high in April…

6. U.S. private payrolls rise 169K in April, smallest gain since January 2014

U.S. private payrolls rise 169K in April, smallest gain since January 2014May 6, U.S. private employers in April added the fewest number of workers in more than a year, which could heighten worries about the economy’s potential to rebound strongly from a first-quarter slump. Private payrolls increased 169,000 last month, the ADP National Employment Report showed. That was the fewest since January 2014 and far below economists’ expectations for a gain of 200,000 jobs…

7. U.S. jobless claims rose 3,000 last week, but held near 15-year low

U.S. jobless claims rose 3,000 last week, but held near 15-year lowMay 8, The number of Americans filing new claims for unemployment benefits held near a 15-year low last week in a sign that the labor market was strengthening despite moderate economic growth. Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 265,000 for the week ended May 2, the Labor Department said on Thursday. That was well below the increase to 280,000 that economists had forecast…

8. China exports fall 6.4%, imports tumble 16.2% in April

China exports fall 6.4%, imports tumble 16.2% in AprilMay 8, China’s exports unexpectedly fell 6.4 percent in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2 percent, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown. The dismal trade performance raises the risk that second-quarter economic growth may dip below 7 percent for the first time since the depths of the global financial crisis, adding to official fears of job losses and growing levels of bad debt…

9. U.S. adds 223,000 jobs in April, unemployment lowest since 2008

U.S. adds 223,000 jobs in April, unemployment lowest since 2008May 8, America can breathe a sigh of relief. The economy is improving with the spring weather. The U.S. added 223,000 jobs in April, a healthy pick up after a disappointing March and about in line with what economists surveyed by CNNMoney projected. April’s strong job gains reflect a trend the country saw last year: job growth cooling in the winter months, then gaining momentum into the spring…

10. Greek PM sees happy end soon, Eurogroup chairman says talks making progress

Greek PM sees happy end soon, Eurogroup chairman says talks making progressMay 8, Greek Prime Minister Alexis Tsipras forecast a happy end soon to fraught negotiations with creditors on a cash-for-reform deal, and the chairman of euro zone finance ministers said talks were making progress, though not enough for a deal next Monday. However, with Greece’s cash reserves dwindling, EU officials said there was no breakthrough in talks with the International Monetary Fund…

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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