Article source: http://uk.reuters.com/article/2012/01/27/markets-europe-factors-idUKL5E8CR05W20120127
Giant German insurer Allianz has outlook cut to negative by S&P; rating …
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Article source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c812f839-1634-4ea4-b8cb-d39d5d6c201f
Forex News – US economy grows less than forecast
Home All Forex News – US economy grows less than forecast
Posted on January 27, 2012 by Trading Point Investment Research Desk at 2:44 pm GMT
The United States Gross Domestic Product (GDP) rose from October through December 2011 at its fastest rate in a year and a half, showing that the US economy grew 2.8 percent in the fourth quarter but trailed forecasts.
The main driver behind the expansion at the end of last year was an increases in consumer spending and business inventories, according to the US Commerce Department on Friday.
The 2.8 percent increase follows a 1.8 percent gain in the prior third quarter, but came in slightly lower than the forecast for a 3 percent increase.
Due to missing expectations, markets reacted negatively and pushed risk assets down. Euro dipped against the dollar immediately after the data at 13:30 GMT, falling from 1.3147 to 1.3092 before recovering some losses to trade back up to 1.3126 by 14:35 GMT.
The GDP report shows that consumer spending rose 2 percent in the fourth quarter, little changed from the 1.7 percent gain in the prior three months. Economists projected a 2.4 percent increase. These figures are disappointing since consumer spending accounts for at least two-thirds of US economic growth.
Also inventory rebuilding and weak spending on capital goods hints at slower growth in early 2012.
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- Forex Market Review – Aussie rebounds on strong data; euro firm ahead of IMF talks (1156)
- Forex Market Review – Aussie falls on weak retail sales; EURUSD hits new 16-month low (1134)
- Forex News – US jobless claims drop to four-year low (1109)
- Forex Market Review – Euro off lows as Merkel Sarkozy meet; CHF jumps as Hildebrand quits (1082)
Article source: http://www.trading-point.com/forex-news-us-economy-grows-less-than-forecast-6354
Giant German insurer Allianz has outlook cut to negative by S&P; rating …
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Article source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c812f839-1634-4ea4-b8cb-d39d5d6c201f
Forex News – US economy grows less than forecast
Home All Forex News – US economy grows less than forecast
Posted on January 27, 2012 by Trading Point Investment Research Desk at 2:44 pm GMT
The United States Gross Domestic Product (GDP) rose from October through December 2011 at its fastest rate in a year and a half, showing that the US economy grew 2.8 percent in the fourth quarter but trailed forecasts.
The main driver behind the expansion at the end of last year was an increases in consumer spending and business inventories, according to the US Commerce Department on Friday.
The 2.8 percent increase follows a 1.8 percent gain in the prior third quarter, but came in slightly lower than the forecast for a 3 percent increase.
Due to missing expectations, markets reacted negatively and pushed risk assets down. Euro dipped against the dollar immediately after the data at 13:30 GMT, falling from 1.3147 to 1.3092 before recovering some losses to trade back up to 1.3126 by 14:35 GMT.
The GDP report shows that consumer spending rose 2 percent in the fourth quarter, little changed from the 1.7 percent gain in the prior three months. Economists projected a 2.4 percent increase. These figures are disappointing since consumer spending accounts for at least two-thirds of US economic growth.
Also inventory rebuilding and weak spending on capital goods hints at slower growth in early 2012.
Most Read News
- Forex Market Review – Euro tumbles on SP downgrades; France to lose AAA rating (1417)
- Forex Market Review – Aussie rebounds on strong data; euro firm ahead of IMF talks (1156)
- Forex Market Review – Aussie falls on weak retail sales; EURUSD hits new 16-month low (1134)
- Forex News – US jobless claims drop to four-year low (1109)
- Forex Market Review – Euro off lows as Merkel Sarkozy meet; CHF jumps as Hildebrand quits (1082)
Article source: http://www.trading-point.com/forex-news-us-economy-grows-less-than-forecast-6354
Forex: GBP/USD hovering over 1.5700
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Forex: GBP/USD hovering over 1.5700
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FXstreet.com (Barcelona) – The sterling is retracing some ground at the moment after hit 1.5718 (day’s high). Fed decision to leave the fund rates at “exceptionally low “ levels until late 2014 and a more dovish stance of the committee have boosted the risk sentiment in detriment of the greenback on Wednesday extending the upbeat mood into today’s session.
Optimism circling the PSI talks is bolstering the markets as well pushing risk-related currencies to new highs.
The cross is up 0.24% at 1.5695, facing the next hurdle at 1.5709 (high Dec.23) ahead of 1.5718 (Upper Bollinger) then 1.5729 (high Dec.22) and 1.5775 (high Dec.21).
On the flip side, a drop beyond 1.5612 (hourly low Jan.25) would expose 1.5578 (MA55d) then 1.5533 (low Jan.24) and 1.5517 (low Jan.23).
Article source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c364b5c4-dc1f-4dc0-8022-7e47278f4222
