Archive for October, 2013

US Jobless Claims Fall as Backlog Clears

by Christopher Lemieuxon October 31, 2013 6:51 pm GMT
The US jobless claims fell by 10k to 340k in the week ended October 26, according to the Labor Department. The print was only 1k under analyst estimates of 341k as California clears out some of the large backlog caused by the government shutdown. Nonetheless, there is still one major issue in the US labor […]

Euro Free Falls Through Support

by Christopher Lemieuxon October 31, 2013 6:17 pm GMT
A serious of weak data out of the eurozone dropped the eurodollar down to its knees. Prior to the drop, the European Central Bank’s Ewald Nowotny said it was very unlikely for the central bank to cut rates a few days ago. Unfortunately, unemployment increased and inflation decreased in the 17-nation euro-bloc. An ECB cut in […]

Dollar Rally Decreases Gold Demand

by Christopher Lemieuxon October 31, 2013 12:16 pm GMT
Gold declines for the third day in London as the recent gold rally is curbed by dollar strength. The yellow metal increased .5 percent over the last month, but yesterday’s FOMC comments triggered profit-taking with the Federal Reserve acknowledging they need to see more positive data in order to taper yet that monetary easing is […]

Euro Drops on Poor Data; Unemployment to New Highs

by Christopher Lemieuxon October 31, 2013 11:26 am GMT
The euro has dropped as new data pours in with discouraging signs in the eurozone. Germany data received a new blow after unemployment increases in the strongest eurozone country. German retail sales came in below the .5 percent expectations at negative .4 percent. German has cooled off quickly within the last three months. The eurozone […]