Top 10 Weekly Forex Market Headlines – September 4, 2015

US Dollar vs. Other Currencies - % Weekly Change | Aug. 28 ~ Sept. 4, 2015

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1. U.S. manufacturing sector slows in August to over two-year low: ISM

U.S. manufacturing sector slows in August to over two-year low: ISMSeptember 1, The pace of growth in the U.S. manufacturing sector slowed in August to its weakest in over two years, according to an industry report released on Tuesday. The Institute for Supply Management (ISM) said its index of national factory activity fell to 51.1 from 52.7 the month before, marking the lowest reading since May 2013. The reading was shy of the expected 52.6, according to a Reuters poll of economists…

2. Wall Street falls sharply after weak factory data from China

Wall Street falls sharply after weak factory data from ChinaSeptember 1, Wall Street slumped more than 2 percent on Tuesday, pushing all three major indexes into the red for the year, after weak data from China escalated fears that the slowdown in the world’s second-largest economy will constrain global growth. The sell off was broad. All 10 major S&P sectors were lower between 1.8 and 3.4 percent. All 30 Dow components were down between 1.5 and 4 percent…

3. Canada slips into recession for first time in six years as oil prices slump

Canada slips into recession for first time in six years as oil prices slumpSeptember 1, Oh Canada! The country has fallen victim to cheap oil and slid into recession for the first time in six years. The G-7 economy is a big energy exporter and the slump in crude prices — currently below $50 a barrel — has spread pain across the country and hit growth. Official data released by Statistics Canada on Tuesday showed second quarter GDP fell by 0.5% on annualized basis. First quarter GDP contracted by 0.8%…

4. China manufacturing contracts again, U.S. and euro zone growth ease in August

China manufacturing contracts again, U.S. and euro zone growth ease in AugustSeptember 1, China’s giant manufacturing industry contracted and euro zone and U.S. growth eased in August in data published on Tuesday, while the International Monetary Fund cut its forecast for world growth this year. Stocks on major markets tumbled along with commodity prices following the data, with markets still trying to gauge the likelihood of a September interest rate hike by the Federal Reserve…

5. U.S. private employers added 220,000 joibs in August despite recent global market turmoil

U.S. private employers added 220,000 joibs in August despite recent global market turmoilSeptember 2, U.S. private employers maintained a solid pace of hiring in August despite recent global financial market turmoil, suggesting that labor market momentum likely remains strong enough for the Federal Reserve to consider an interest rate hike this year. The ADP National Employment Report on Wednesday showed private payrolls increased 190,000 last month. While that was below economists’ expectations for a gain of 201,000 jobs, it was a step-up from the 177,000 positions created in July…

6. ECB paves way for QE expansion as it cuts growth, inflation forecasts

ECB paves way for QE expansion as it cuts growth, inflation forecastsSeptember 3, The European Central Bank cut its inflation and growth forecasts for the euro zone on Thursday and its president said things could get worse. The euro fell 1 percent on the moves and comments, hitting a two week low. Mario Draghi, the ECB president, pledged to beef up or prolong the bank’s bond-buying program if the picture indeed darkened further, although he said no one on the bank’s Governing Council had argued for it now…

7. U.S. trade deficit falls to five-month low, signals economy’s underlying strength

U.S. trade deficit falls to five-month low, signals economy’s underlying strengthSeptember 3, The U.S. trade deficit fell in July to its lowest level in five months as exports rose broadly, signaling underlying strength in the economy amid concerns about a global growth slowdown. While other data on Thursday showed an increase in the number of Americans filing new applications for unemployment benefits, the trend in jobless claims remained consistent with a strengthening labor market. Activity in the vast services sector also hovered at a 10-year high in August…

8. U.S. jobless claims rise by 12,000 but trend still shows strength in the labor market

U.S. jobless claims rise by 12,000 but trend still shows strength in the labor marketSeptember 3, The number of Americans filing new applications for unemployment benefits rose more than expected last week, but the underlying trend remained consistent with a strengthening labor market. Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 282,000 for the week ended Aug. 29, the Labor Department said on Thursday…

9. G20 urges Fed not to hike rates too soon amid China’s slowdown

G20 urges Fed not to hike rates too soon amid China's slowdownSeptember 4, World financial leaders will agree to calibrate and communicate monetary policy carefully to avoid triggering capital flight, but will not call an expected U.S. rate rise a risk to growth, a draft communique showed on Friday. Many emerging market economies are concerned that when the U.S. Federal Reserve raises borrowing costs, investors will withdraw from other markets and buy dollar assets, weakening other currencies and creating turbulence as capital flees…

10. U.S. economy adds 173,000 jobs in August, unemployment rate drops to 5.1%

U.S. economy adds 173,000 jobs in August, unemployment rate drops to 5.1%September 4, Talk about a toss up. The state of U.S. jobs is pretty healthy. But the latest jobs report presented a mixed bag of news. First the good: the U.S. unemployment rate fell to 5.1%, down by nearly half since the peak (10%) during the Great Recession. While it was a healthy sign, August’s job gains sent more of a mixed message. The economy added 173,000 jobs in August. It was a decent gain in jobs for the month, but below the average monthly jobs gains — 212,000 jobs — so far this year…

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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