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- Nov, 19 U.K. Budget Deficit Remains At Concerning Levels
- Nov, 18 Canadian Inflation Postive For First Time In Five Months, Will BoC Remain On Hold?
- Nov, 17 A Rise in U.K. Inflation May Not Deter BoE From Additional QE
- Nov, 16 Euro-Zone Inflation Continues To Decline Leaving ECB on Hold
- Nov, 13 Euro-Zone Emerges From Reccesion Led By Germany, Broader Weakness Remains A Concern
- Nov, 12 European Industrial Production Gains For Fifth Month, But Shows Signs Of Slowing
- Nov, 11 U.K. Labor Market Improving, But BoE Remains On Alert With Recovery On Hard Path
- Nov, 10 German Investor Confidence Drops As Stimulus Efforts Come To An End
- Nov, 09 German Output and Exports Surge Fueling Optimism For Recovery
- Nov, 05 ECB, BoE Remain On Hold But Sees Signs Of Improvement
- Nov, 04 U.K. Serivce Sector Rises To Highest Level Since 2007, Will BoE Remain On Hold?
- Nov, 02 U.K. Manufacturing Unexpectedly Expanded Casting Doubt On BoE’s Direction
- Oct, 30 EZ Inflation Remains Subdued, Keeping ECB on Hold.
- Oct, 29 An Improving German Labor Market Fuels Euro-Zone Confidence
- Oct, 28 Australian Inflation Remains Subdued Casting Doubt on RBA Rate Hike
- Oct, 27 U.K. Consumer Consumption Expected To Rebound, Will BoE Remain On Hold?
- Oct, 26 German Consumer Confidence Weakens in November, Ex-BoE Member Blanchflower Sees Room For Further Easing
- Oct, 23 Euro-Zone Business Activity and Confidence Rises, Putting The ECB On Alert
- Oct, 22 Flat U.K. Retail Sales Raises Growth Questions
- Oct, 21 BoE Minutues Point Toward Possible Policy Change In November
Swiss Unemployment rose to 4.0% in October from 3.9% the month prior, while the seasonally adjusted jobless rate remained unchanged at 4.1%, marking the highest level since April 1998, the State Secretariat for Economic Affairs in Berne said today.
Fundamental Headlines
• BOE, ECB Chart Different Courses – Wall Street Journal
• Jobless-Rate Rise Hurts Futures – Wall Street Journal
• Dollar under pressure ahead of US jobs report – Financial Times
• RBA Says Australia Growth to Beat Forecasts, Rates to Rise; Currency Gains – Bloomberg
• U.S. Unemployment Rate Jumps to 10.2% as Payrolls Fall More Than Forecast -Bloomberg
USD/CAD – Canada’s Unemployment Rate unexpectedly rose to 8.6% in October amid expectations of 8.5%, after rising to 8.4% the previous month. Employers surprisingly cut 43,200 jobs last month, while economists surveyed by Bloomberg forecasted employers to cut only 10,000 jobs. Meanwhile, the breakdown of the data displays an underlying positive sign as full-time employment climbed 16,500, while part-time employment slid 59,700, showing commitment of employers to long term hires. At the same time, private-sector jobs tumbled 70,700, while self employed workers gained 27,500. Though emmployers are commiting to full-time hires, the data provides a dovish outlook for the U.S.’s largest trading partner and without a doubt will lead the Bank of Canada to keep interest rates at 0.25% for the near term and possibly until June 2010 in order to spur economic growth and consumer spending.Visit the USD/CAD Forum for more infmation.
Swiss franc Currency Room – Swiss Unemployment rose to 4.0% in October from 3.9% the month prior, while the seasonally adjusted jobless rate remained unchanged at 4.1%, marking the highest level since April 1998, the State Secretariat for Economic Affairs in Berne said today. Prior to the release, economists had forecasted that the adjusted rate would rise to 4.2% in October. The data provides evidence that the country’s economic slump has not yet bottomed out, but rather, may deepen further as the breakdown of the report showed jobless claims rose from 154,409 to 158,138. At the same time, the Swiss National Bank may hold rates at 0.25% for a sustainable amount of time and intervene against the franc whenever the EURCHF exchange rate trades near 1.50. Visit the Swiss fran Currency Room for more information.
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