Top 10 Weekly Forex Market Headlines – 09.05.2014

Kelvin Ching Updated on
top10 eu tougher sanction

U.S. Dollar vs Major Currencies - % Weekly Change | Aug. 9 ~ Sept. 5, 2014

1. EU readies tougher sanctions on Russia as Kiev warns of invasion force

EU readies tougher sanctions on Russia as Kiev warns of invasion forceSeptember 2, European officials proposed sweeping new sanctions on Tuesday to starve Russia’s companies of capital and technology as punishment for Moscow’s intervention in Ukraine, where Kiev officials said Russia was bolstering an “invasion” force…
2. U.S. ISM manufacturing PMI hits near 3-1/2 year high in August

U.S. ISM manufacturing PMI hits near 3-1/2 year high in AugustSeptember 2, U.S. manufacturing activity increased to its highest level in nearly 3-1/2 years in August and construction spending rebounded strongly in July, in further signs of vigor in the economy. The Institute for Supply Management(ISM) said on Tuesday its index of national factory activity rose to 59.0 last month…
3. UK economy grew more than expected over last few years: ONS

UK economy grew more than expected over last few years: ONSSeptember 3, The recent downturn was less deep than previously thought while annual growth proved stronger as the economy began to recover, according to revised official figures. Changes to methodology used by the Office for National Statistics (ONS) show gross domestic product (GDP) shrank by as much as 6% in the depths of the recession…
4. Euro zone Markit’s composite PMI falls to 52.5 in August

Euro zone Markit’s composite PMI falls to 52.5 in AugustSeptember 3, Activity in the eurozone’s private sector slowed more sharply in August than expected amid declines in France and Italy, indicating that the currency area is unlikely to emerge soon from economic stagnation. Data firm Markit’s monthly composite purchasing managers index…
5. U.S. private sector adds 204K jobs, non-manufacturing PMI rises to 59.6

U.S. private sector adds 204K jobs, non-manufacturing PMI rises to 59.6September 4, U.S. companies hired fewer workers than expected in August, but an acceleration in services sector activity to a nine-year high offered assurance that the economy remained on track for a sturdy rate of growth in the third quarter. That view was reinforced by other data on Thursday…
6. ECB cuts rates again to combat deflation, support EU economy

ECB cuts rates again to combat deflation, support EU economySeptember 4, The European Central Bank cut interest rates to new record lows on Thursday, unexpectedly lowering borrowing costs to try to lift inflation from rock-bottom levels and support the stagnating euro zone economy. The ECB cut its main refinancing rate to 0.05 percent from 0.15 percent…
7. Kuroda says economy still on track for 2% inflation, dismisses pessimism

Kuroda says economy still on track for 2% inflation, dismisses pessimismSeptember 4, Bank of Japan Gov. Haruhiko Kuroda brushed aside growing pessimism about the economy that has been fueled by a recent string of dismal data, saying Thursday that the central bank is still on track to achieve its 2% inflation target. Providing his first take on the Japanese economy since data showed an annualized 6.8%…
8. U.S. job growth hits 8-month low as labor force participation falls

U.S. job growth hits 8-month low as labor force participation fallsSeptember 5, U.S. employers hired the fewest number of workers in eight months in August and more Americans gave up the hunt for jobs, providing a cautious Federal Reserve with more reasons to wait longer before raising interest rates. Nonfarm payrolls increased 142,000 last month…
9. Ukraine, Russian-backed rebels declare cease-fire

Ukraine, Russian-backed rebels declare cease-fireSeptember 5, Ukrainian President Petro Poroshenko on Friday announced a cease-fire intended to end a 5-month-old conflict in the east of his nation that has killed more than 2,600 people and displaced hundreds of thousands more. The agreement was reached in talks between his government, Russian officials…
10. EUR/USD edges higher, stocks open lower afer weak U.S. nonfarm payrolls report

EUR/USD edges higher, stocks open lower afer weak U.S. nonfarm payrolls reportSeptember 5, The euro edged higher against the dollar and global equity markets pared losses on Friday after data showed U.S. jobs growth slowed in August, raising chances that interest rates will stay low for a longer period than investors had expected…
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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