Loading

The Marketplace - 11th August 2016

Another quiet day in terms economic reports will allow us to focus on tomorrows key US Retails Sales Data. Economists are forecasting a steady increase of 0.4% in sales with the holiday season now in full swing. Last month’s reading came out at 0.6%, 0.5% above the forecasted increase of .0.1%. Today’s US unemployment number will come under scrutiny after a good Non-Farm Payroll figure on Friday. The number of initial applications for unemployment benefits unexpectedly increased by 3,000 to 269,000 for the week ended July 30, but the growth trend in the labor market remains healthy. Economists expected claims to reach 265,000. The level of claims remained below the 300,000 threshold for 74 consecutive weeks.. remaining below the 300,000 threshold for the 34th consecutive week. Since the job market is near full employment, there is limited scope for further declines in claims. The four-week moving average of claims rose 3,750 to 260,250. The number of claims is expected to reach 272,000 this week.

The US Dollar weakens, with the US Fed policy in focus

The U.S. Dollar fell on Wednesday as economists await the Fed Chair Janet Yellens speech later this month, with no major economic reports in the build up to the speech many are finding it hard to see where we could see signs of strength. The greenback gained after Friday's jobs report for July showed better-than-expected employment gains, raising prospects for a further rate increase this year. The next major U.S. economic indicator will be Friday's retail sales report for July. Reduced liquidity in the holiday season could see an exaggeration in price moves.

The US Dollar lost 0.6% against the Japanese Yen and 0.5% again the Euro. was 0.64 percent weaker against the Japanese yen at 101.24 and 0.47 percent lower against the euro at $1.1170. The US Dollar moved to a three month high against the Australian Dollar before falling back down. The Australian Dollar has been buoyed this week with relatively high yields and a stronger investor appetite for risk. The Sterling steadied on Wednesday after falling to its lowest level against the US Dollar in almost a month.

Sterling struggles as gilt yields hit record lows

A fall in returns on UK government debt to the lowest on record knocked half a percent off sterling's value against the euro on Wednesday while a recovery against a broadly weaker U.S. Dollar. After a week in which sterling has suffered from the Bank of England's aggressive moves to ease monetary policy and a volley of promises from policymakers that more may follow, a survey for the bank added to evidence of a slowing economy.

Sterling has been under pressure since Britain's vote on June 23 to leave the European Union, but with data only just beginning to seep in, the jury is still out on the scale of the immediate blow to growth.

"The core story for the pound is the same: the authorities like the idea of a cheaper currency so we are probably headed lower," New York Mellon's head of global market research, Simon Derrick, said.

Data released on Tuesday showed industrial output grew at the fastest rate since 1999 in the second quarter of this year. But the trade deficit surged in June, a sign of how exposed Britain is to any slackening off of inward investment.

Source: Reuters

This page will enable you to send a bulk email to all users subscribed to The Marketplace in the CRM.

• The Frequency drop down list below refers to the how often the user has asked to recieve The Marketplace.
• Click the Information icon to view a list of recipients.
• If you would like to attach a file to the email, click Browse and select the file you would like to send. Please ensure you choose the correct file.
• Selecting a file is option so this function can be used to send adhoc updates.
• The Subject and Body fields are mandatory.
• Clicking send will begin the sending process. An email will be sent to each user addressed specifically to that user.
• The Progess list will be updated below when an email has been sent. If there was an error sending the email the user name and email address will be highlighted in red.
• Once you have started a bulk email send process you must wait until the process has completed until you will be able to begin a new process.
• You do not need to stay on the page and wait for the process to complete.
• If you navigate away from the page and return before the process has finished the page will not allow you to submit a new request, and it will continue to display progress from where you left the page.
• Clicking cancel will stop sending any further emails, emails will have already been sent to names listed in the progess area and are not able to be recalled.
• On completion you will be sent an email listing all recipients.

Business Unit :

Frequency:	Daily Weekly Internal --------- All Active Users
Upload File:
Email Subject:
Email Body:	Normal Paragraph Heading 1 Heading 2 Heading 3 Heading 4 Heading 5 Heading 6 Address Formatted Font Arial Courier New Garamond Sans Serif Tahoma Times Verdana Wingdings Size Very Small Smaller Small Medium Large Larger Very Large Design Html
Include URL:
Progress: