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Dollar Rallies After Initial Jobless Claims Miss, Durable Goods Beat Expectations

Initial Jobless Claims Miss The Department of Labor reported on Thursday that Initial Jobless Claims rose by 24K to a seasonally adjusted 329k last week. The figure missed analyst expectations of 310K. The prior week’s number was revised higher to 305K. Continuing Jobless Claims, which measure

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Chinese Yuan Sinks to 16 Month Lows vs. US Dollar

The Chinese Yuan fell to its lowest levels since December of 2012 against the US Dollar in early trading on Wednesday. The Yuan has depreciated 3 per cent versus the greenback so far this year. The People’s Bank of China (PBOC) intervened to weaken the currency in February and March in a move

Stock markets abuzz with earnings surprises

View from the trading floor. James Gee works on IG’s trading floor in London. Find out more about financial spread betting: http://www.ig.com/uk/spread-betting Before the start of the reporting season in the US– with Alcoa (AA) being notoriously the first company to release its figures on 8 Apr

Positive Data Boosts US Dollar Despite Dovish Comments from Yellen

The US Dollar Index traded modestly higher on Thursday, aided by positive jobless claims and manufacturing data. The greenback had been pressured after Janet Yellen reiterated on Wednesday at the Economic Club of New York that she expected interest rates to remain very low until economic condition

Dollar Steady After Housing and Industrial Production Data

Housing Starts and Building Permits Miss Expectations The U.S. Commerce Department reported on Wednesday that home-construction starts rose 2.8% to a seasonally adjusted annual rate of 946,000 in March. While the figure marked the fastest rise in three months, it missed analyst expectations of 973,0

UK Unemployment falls to five-year low of 6.9%

The UK Office for National Statistics (ONS) reported on Wednesday that the number of unemployed people in the UK has fallen by 77,000 to a five-year low of 2.24 million in the three months to February. The figure beat analyst expectations of a 7.1 percent print, triggering a rally in GBP/USD over t

Dollar Index Revived

The US dollar index rallied on Monday, gapping higher after dovish comments from ECB President Mario Draghi over the weekend as he attempted to jawbone the euro lower. Speaking to reporters after the spring meetings of the International Monetary Fund in Washington, Draghi stated; “The strengthenin

Impact of China HSBC PMI data on commodities

Fresh worries on Chinese manufacturing industry contractions have been sparked by the announcement that the final HSBC Manufacturing Purchasing Managers’ Index (PMI) reading has fallen to an eight month low in in March. The HSBC PMI fell to 48 from February’s level of 48.5. At the same time, the

Why are The Democrats so Worried?

This week a report came out from famed statistician Nate Silver that predicted that the GOP would take back the Senate in November, 2014 by one seat.  No sooner had this report been released when the media and press in the United States jumped all over it.  The Democratic National Party started se

History of futures

While the trading of futures contracts is a seemingly modern one, where there is a great deal of speculative investing, in reality the commodity future contract is one of the oldest financial instruments, and arose from far more mundane concerns. The first known organised futures exchange originated