Top 10 Weekly Forex Market Headlines – 2.6.2015

Kelvin Ching Updated on
top10 us consumer slips

USD vs Major Currencies - Weekly % Change from January 30 to February 6, 2015

1. U.S. consumer spending slips 0.3% in December, largest drop since 2009

top10-us-consumer-slipsFebruary 6, U.S. consumer spending recorded its biggest decline since late 2009 in December with households saving the extra cash from cheaper gasoline. Other data on Monday showed factory activity cooled in January, suggesting the economy may have entered the new year on a slightly softer footing than had been expected. Nevertheless, upbeat and cash-flush consumers are expected to step-up spending and buoy the economy…
2. China manufacturing PMI data shows excess supply, insufficient demand

top10-china-manufpmi-slowsFebruary 2, Activity in China’s factory sector shrank for the second straight month in January, a private business survey showed on Monday, as the new year got off to a rocky start for the world’s second-largest economy. The slack performance, including a 15th month of shrinking factory employment, will add to the debate over how and whether Beijing will accelerate policy easing…
3. Abenomics gets boost from cheap oil, weakening yen

top10-abenomics-boostFebruary 3, Japan’s economy is rebounding from recession, boosted by cheap oil and a weakening yen, and giving fresh hopes for Prime Minister Shinzo Abe ’s tarnished Abenomics revival program. A number of economists say, however, that new data suggest only a temporary respite from long-term decline rather than the lasting end to deflation the government seeks to foster…
4. U.S. inflation up 0.7% in December, well below the Fed’ds 2% target

New Greek PM Tsipras names anti-austerity cabinet, stops port privatizationFebruary 3, The Federal Reserve’s preferred inflation gauge notched its lowest year-over-year increase since just after the recession, complicating the calculus for the central bank on when to lift short-term interest rates from near zero. The price index for personal consumption expenditures was up 0.7% in December from a year earlier, the Commerce Department said Monday…
5. China cuts bank reserve requirements for first time in over two years

top10-china-bank-reserveFebruary 4, China’s central bank made a system-wide cut to bank reserve requirements on Wednesday, the first time it has done so in over two years, to unleash a fresh flood of liquidity to fight off economic slowdown and looming deflation. The announcement cuts reserve requirements – the amount of cash banks must hold back from lending – to 19.5 percent for big banks…
6. Greece and Germany clash over debt repayments as ECB stops funding

top10-greece-and-germanyFebruary 5, Greece’s new leftist finance minister clashed openly with his powerful German counterpart on Thursday as Athens’ borrowing costs leapt and bank shares plunged following the European Central Bank’s decision to stop funding the country’s lenders. After blunt talks in Berlin, German Finance Minister Wolfgang Schaeuble said he had told Greece’s Yanis Varoufakis it was not realistic to make…
7. U.S. trade deficit jumps 17% in December, jobless claims up 11,000

top10-us-trade-deficit-jumpsFebruary 5, The U.S. trade deficit in December widened sharply to its highest level since 2012 as a stronger dollar appeared to suck in imports and weigh on exports, which could see the fourth-quarter economic growth estimate revised lower. The Commerce Department said on Thursday the trade deficit jumped 17.1 percent to $46.6 billion, the largest since November 2012. It was the biggest percentage increase since…
8. U.S. economy added 257,000 jobs in January, best job growth since 1999

top10-us-economy-257kFebruary 6, New year, same story: America continued its solid job growth in January. The U.S. economy added 257,000 jobs in January, adding to the gains from last year, which was the best for job growth since 1999. The official unemployment rate ticked up to 5.7%, a notch higher than December. Economists surveyed by CNNMoney predicted 229,000 jobs would be created in January and an unemployment rate of 5.5%…
9. Eurozone 2015 growth outlook gets boost from cheaper oil, weaker euro

top10-eu-2015-growth-outlookFebruary 6, The European Union’s official economists said the sharp drop in global oil prices and a weaker euro should boost growth in the eurozone this year, raising their forecasts for the currency area’s largest economies. The developments are a lucky jolt for a region facing the prospect of long-term economic stagnation, as Europe is still trying to heal the wounds of the sovereign debt crisis…
10. ECB’s move on Greek banks hampers Greece’s campaign to renegotiate bailout

top10-ecb-renegotiate-greeceFebruary 6, The European Central Bank’s sudden move to crimp funding for Greek banks sent their stocks tumbling Thursday and laid bare a huge vulnerability in Greece’s campaign to renegotiate its European bailout. The ECB announced on Wednesday evening that it would no longer accept Greek government bonds as collateral for its loans to banks in the country. While freshly recapitalized—partly with bailout money…
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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