Top 10 Weekly Forex Market Headlines – 06.05.2015

US Dollar vs Major Currencies % Weekly Change | May 29 ~ June 5, 2015

Newsletter

Zero spam.

I agree to have my personal information transfered to Interspire Email Marketer ( more information )
1. China manufacturing contracts for 3rd straight month as export orders near 2-year lows

China manufacturing contracts for 3rd straight month as export orders near 2-year lowsJune 1, Activity in China vast factory sector shrank for a third consecutive month in May as export orders contracted at the sharpest rate in nearly two years, a private survey showed on Monday, suggesting China remains locked in an economic cooldown. The final HSBC/Markit Purchasing Managers’ Index (PMI) stood at 49.2 in May, below the 50-point level that separates an expansion from a contraction in activity…

2. ECB stimulus program appears to have immediate impact

ECB stimulus program appears to have immediate impactJune 1, Spain and Italy led a pickup in eurozone manufacturing activity during May, while German consumer prices rose at the fastest rate in eight months as the European Central Bank’s new stimulus program appeared to yield early results. The ECB launched a program of quantitative easing on March 9 to buy more than €1 trillion ($1.07 trillion) of bonds using newly created money by September 2016. Its main goal is to…

3. Oil prices rise as dollar drops over 1%, OPEC set to keep production target

Oil prices rise as dollar drops over 1%, OPEC set to keep production targetJune 2, Oil prices rose on Tuesday in response to a weaker dollar and expectations that OPEC producers would maintain their group production target at its current level and resist pressure for an increase. The dollar fell more than 1 percent against a basket of currencies, making oil cheaper for holders of other currencies, and particularly in Europe, which saw a surge in the value of the euro…

4. Euro zone inflation up 0.3% in May, rises for first time in six months

Euro zone inflation up 0.3% in May, rises for first time in six monthsJune 2, Eurozone consumer prices rose for the first time in six months during May, a significant victory for the European Central Bank in its campaign to avert a slide into deflation that could have derailed the currency area’s fragile economic recovery. Still, analysts said that the improvement in inflation—which is still far below the ECB’s target—won’t be sufficient to alter the bank’s plans to pump over…

5. China’s renminbi isn’t ready for world stage, says Bernanke

China’s renminbi isn’t ready for world stage, says BernankeJune 2, China’s yuan isn’t yet ready for the world stage, despite Beijing’s big push to turn it into an international reserve currency, according to former Federal Reserve Chairman Ben Bernanke. Doing so “involves more than just being a strong economy,” Bernanke said in Hong Kong on Tuesday. “To move in that direction, China will have to continue to liberalize its capital account, current trading regimes, and strengthen and…

6. ECB’s Draghi admits growth prospects dimmed, cuts 2017 GDP forecast

ECB’s Draghi admits growth prospects dimmed, cuts 2017 GDP forecastJune 3, Europe has lost some growth momentum and bond market volatility is here to stay, the European Central Bank said on Wednesday, pledging to see through its money printing scheme until its job of lifting the economy is done. In remarks after the bank left rates on hold at record lows, ECB president Mario Draghi also urged a deal with Greece, which is facing default without aid, in order to keep it in the currency bloc…

7. Eurozone unemployment falls to 11.1% in April, hits 3-year low

Eurozone unemployment falls to 11.1% in April, hits 3-year lowJune 3, Good news! Europe is getting back to work. Unemployment in the eurozone fell to 11.1% in April, the lowest it has been in three years, according to official data.  The number of unemployed in the euro area has been falling by 100,000 a month on average so far this year. “That is double the pace of decline previously estimated, cutting the time it would take to reduce unemployment back to pre-crisis levels…

8. U.S. trade deficit narrows, private employers add 201K jobs while services sector dissapoints

U.S. trade deficit narrows, private employers add 201K jobs while services sector dissapointsJune 3, The U.S. trade deficit narrowed in April on a drop in imports, which surged in March following the end of a West Coast ports labor dispute, while companies picked up their hiring in May after a pullback the previous month. The data supported the notion the U.S. economy has recovered somewhat from a first-quarter contraction and bolstered expectations the Federal Reserve may consider raising interest rates later this year…

9. Greece postpones IMF payment, says it will bundle payments this month

Greece postpones IMF payment, says it will bundle payments this monthJune 5, The heavily indebted country has postponed a payment to the International Monetary Fund, underlining how urgently it needs its creditors to release more bailout funds to avoid default and possible exit from the eurozone. Athens was supposed to pay the IMF about 300 million euros on Friday, but said Thursday it would bundle all the payments due this month into one. That means Greece now owes…

10. U.S. Job growth data shows economy performing well, 1st quarter was an aberration

U.S. Job growth data shows economy performing well, 1st quarter was an aberrationJune 5, Blunting worries about the American economy’s momentum after a stretch of lackluster growth, the government reported on Friday that employers added a hefty 280,000 jobs in May, well above the average monthly totals logged over the last year. The official unemployment rate ticked up slightly to 5.5 percent from 5.4 percent, as more Americans dived back into the labor pool and started actively looking for work…

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.

Speak Your Mind

*

Newsletter

Zero spam.

I agree to have my personal information transfered to Interspire Email Marketer ( more information )