The construction sector in Australia fell into contraction in November, the latest survey from the Australian Industry Group and the Housing Industry Association revealed on Friday, with a PMI score of 45.4. That's down sharply from 53.4 in October, and it slides well below the boom-or-bust line of 50 that separates expansion from contraction. The decline was punctuated by a fall in activity (down 6.7 points to 47.4) and ...
Trading the News: European Central Bank (ECB) Interest Rate Decision EUR/USD may continue to mark fresh monthly lows over the next 24-hours of trade should the European Central Bank (ECB) take additional steps to further support the monetary union. What’s Expected: Why Is This Event Important: Indeed, there’s growing speculation that the Governing Council will broaden the scope of its non-standard measures ...
- Canada Gross Domestic Product (GDP) to Slow for Second-Time in 2014. - Growth Rate to Hold Above 2% for Second Consecutive Quarter. Trading the News: Canada Gross Domestic Product (GDP) Canada’s 3Q Gross Domestic Product (GDP) report may generate a near-term bounce in USD/CAD as the growth rate is expected to increase an annualized 2.1% following the 3.1% expansion during the three-months through June. What’s Expected: ...
- U.S. Durable Goods Orders to Contract for Third Straight Month. - Non-Defense Capital Goods Orders ex Aircrafts to Expand for Fifth Time in 2014. Trading the News: U.S. Durable Goods Orders Another 0.6% contract in orders for U.S. Durable Goods may generate a more meaningful rebound in EUR/USD as it dampens the growth and inflation outlook for the world’s largest economy. What’s Expected: ...
Trading the News: U.S. Consumer Price Index (CPI) A downtick in the U.S. Consumer Price Index (CPI) may spark a more meaningful rebound in EUR/USD as it dampens the interest rate outlook for the world’s largest economy. What’s Expected: Why Is This Event Important: It seems as though the Federal Open Market Committee (FOMC) is in no rush to normalize monetary policy as a growing number of central ...