Thursday, 05 March 2015 02:16
Some of the Federal Reserve's 12 districts noted some slowdown in economic activity early this year, the latest summary of anecdotal evidence showed.
More commonly known as the Beige Book, the document showed that half of the districts reported "a moderate" economic expansion early this year, in line with the previous issue as were the modest growth rates in Philadelphia and Cleveland.
However, Kansas saw only a slight increase in the local economy while Richmond observed slower output growth. In Dallas the economy expanded at a similar pace and Boston noted that business contacts were "fairly upbeat" despite severe weather.
The report comes just two weeks before a crucial Federal Open Market Committee meeting, where some officials will push for updating the policy statement in order to prepare markets for a possible lift-off in June.
Wednesday, 04 March 2015 22:23
Service sector activity in the U.S. grew at a faster rate than expected in February, easing concerns over the economic outlook, industry data showed on Wednesday.
In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index increased to 56.9 last month from a reading of 56.7 in January. Analysts had expected the index to inch down to 56.5 in February.
The New Orders Index registered 56.7, 2.8 points lower than the reading of 59.5 registered in January.
The Employment Index increased 4.8 points to 56.4 from the January reading of 51.6 and indicates growth for the 12th consecutive month.
Wednesday, 04 March 2015 20:56
The dollar eased back from almost 11-year peaks against a basket of other major currencies on Wednesday after data showing the U.S. private sector created fewer-than-expected jobs last month.
The euro was close to six-week lows, with EUR/USD down 0.37% to 1.1133, off lows of 1.1116.
The dollar trimmed back gains after payroll processing firm ADP said the U.S. private sector added 212,000 jobs in February, falling short of expectations for an increase of 220,000. January’s figure was revised up to 250,000 from a previously reported 213,000.
The U.S. was to release survey data on service sector activity later Wednesday, ahead of Friday’s nonfarm payrolls report.
Wednesday, 04 March 2015 20:28
U.S. non-farm private employment rose less than expected in February, fuelling concerns over the strength of the U.S. labor market, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 212,000 last month, below expectations for an increase of 220,000.
The economy created 250,000 jobs in January, whose figure was upwardly revised from a previously reported 213,000.
While not viewed as a reliable guide for the government jobs report due on Friday, March 6, it does give guidance on private-sector hiring.
Wednesday, 04 March 2015 17:14
Gold prices strengthened in the EUR terms after the German and Eurozone services activity indices printed weaker than the preliminary estimates.
Gold: Stuck near 50-DMA
Gold prices appear stuck near the 50-DMA located at EUR 1085.83/Oz levels. Except the 50-DMA, the metal trades above all other major short-term and long-term moving average levels. Moreover, the metal has managed to outperform international Gold prices, which are down 0.07% at USD 1203.60/Oz. Meanwhile, Gold in EUR terms is up 0.47% at USD 1082.20/Oz levels.
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No economic data is available.