News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • The ECB make no qualms about recognizing the Euro's impact on their policies (they didn't just a few years ago), but they still suggest they will only target the symptom (lacking inflation) rather than the cause (rising currency). Now, if their language starts to shift...
  • Cable with a strong bounce from Fibo support $GBPUSD - higher-low support potential 2785-2815
  • US 3-Month Bills Draw 0.100% Primary Dealers Awarded: 49.0% Indirect Bidders Accepted: 45.6% Direct Bidders Accepted: 5.3% B/C Ratio: 2.88
  • Technical Trade Levels: #Dollar, #Euro, #Sterling, #Aussie, #Gold, $SPX500 & More!- Webinar Archive -
  • ECB's Lagarde says clear that external value of Euro has impact on inflation, adds that the ECB monitors FX movements $EUR
  • Dow, Nasdaq Rally as USD Pulls Back to Start a Busy Week
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.84% 🇦🇺AUD: 0.46% 🇪🇺EUR: 0.19% 🇳🇿NZD: 0.06% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.00% View the performance of all markets via
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.76% FTSE 100: 2.04% Wall Street: 1.79% US 500: 1.53% View the performance of all markets via
  • The $SPX's gap higher is the second biggest bullish jump on the open in three months. We swung from the 100-day mov avg support to the 50-day mov avg resistance in just a few days time
  • GBP has not been weak across the board as EUR/GBP traded in a narrow range, given that the apparent improvement in the mood music regarding Brexit negotiations prompted some stability in GBP. Get your $GBPUSD market update from @JMcQueenFX here:
Forex News: US September Trade Deficit Shrinks to Smallest in Two Years

Forex News: US September Trade Deficit Shrinks to Smallest in Two Years

2012-11-08 14:30:00
Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: Initial Jobless Claims declined last week; Trade Deficit unexpectedly narrowed in September to smallest since December 2010 > Improvement in jobless may be due to impact of recent hurricane; Growth in emerging markets boost demand for U.S. exports > USDJPY mixed

The U.S. trade deficit unexpectedly narrowed in September to its smallest gap since December 2010, as exports rose to a record high. The U.S. Department of Commerce reported that the trade deficit shrank by 5.1 percent to $41.5 billion in September from $43.8 billion in August. The department had initially reported a trade gap of $44.2 billion in August. The median forecast of 75 economists surveyed by Bloomberg News had projected a widening of the trade deficit to $45.0 billion.

While a slowdown in China and Europe has been weighing on demand for American goods, increasing demand from emerging markets such as South and Central America is helping to boost exports and narrow the trade deficit.

Separately, the Labor Department reported that the number of Americans filing first-time applications for unemployment benefits unexpectedly declined last week. Initial jobless claims fell by 8,000 to a seasonally adjusted 355,000 in the week ended November 3 from 363,000 the week before. Economists surveyed by Bloomberg News had forecast a rise in claims to 365,000.

The drop in jobless applicants may have been affected by Hurricane Sandy, as jobseekers were unable to file claims in impacted areas.

USDJPY 1-minute Chart: November 8, 2012

Forex_News_US_September_Trade_Deficit_Shrinks_To_Smallest_In_Two_Years_body_Picture_1.png, Forex News: US September Trade Deficit Shrinks to Smallest in Two Years

Chart created using Market Scope – Prepared by Tzu-Wen Chen

Immediately after the release of the two reports, the U.S. dollar spiked higher against the Japanese yen, its safe-haven counterpart, before retracing back to pre-release levels. At the time this report was written, the USDJPY pair had fallen below pre-release levels to trade at 79.87 yen.

--- Written by Tzu-Wen Chen, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.