U.S. Factory Orders Continue To Skyrocket In July

Trading 02 sept 2020 Commentaire »

New orders for U.S. manufactured goods showed another substantial increase in the month of July, according to a report released by the Commerce Department on Wednesday.

The Commerce Department said factory orders soared by 6.4 percent in July, matching the upwardly revised spike seen in June.

Economists had expected factory orders to surge up by 6.0 percent compared to the 6.2 percent jump originally reported for the previous month.

Factory orders continued to spike as orders for durable goods skyrocketed by 11.4 percent in July after soaring by 7.7 percent in June. Orders for transportation equipment led the way higher.

The Commerce Department said orders for non-durable goods also increased by 1.8 percent in July after jumping by 5.3 percent in June.

The report also showed a continued increase in shipments of manufactured goods, which surged up by 4.6 percent in July after spiking by 10.0 percent in June.

Meanwhile, inventories of manufactured goods fell by 0.5 percent in July after rising by 0.5 percent in the previous month.

With shipments jumping and inventories falling, the inventories-to-shipments dropped to 1.43 in July from 1.51 in June.


The material has been provided by InstaForex Company - www.instaforex.com

*U.S. Crude Oil Inventories Tumble 9.4 Million Barrels In Week Ended 8/28

Trading 02 sept 2020 Commentaire »

U.S. Crude Oil Inventories Tumble 9.4 Million Barrels In Week Ended 8/28


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Little Changed Following U.S. Factory Orders

Trading 02 sept 2020 Commentaire »

After the release of U.S. factory orders for July at 10:00 am ET Wednesday, the greenback changed little against its major counterparts.

The greenback was trading at 106.21 against the yen, 0.9121 against the franc, 1.3314 against the pound and 1.1833 against the euro around 10:05 am ET.


The material has been provided by InstaForex Company - www.instaforex.com

*U.S. Factory Orders Spike 6.4% In July

Trading 02 sept 2020 Commentaire »

U.S. Factory Orders Spike 6.4% In July


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Appreciates Ahead Of U.S. Factory Orders

Trading 02 sept 2020 Commentaire »

The U.S. factory orders for July are scheduled for release at 10:00 am ET Wednesday. Ahead of the data, the greenback climbed against its major counterparts.

The greenback was worth 106.28 against the yen, 0.9123 against the franc, 1.3308 against the pound and 1.1829 against the euro as of 9:55 am ET.


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Mixed After ADP Private Sector Jobs Data

Trading 02 sept 2020 Commentaire »

The U.S. dollar showed mixed trading against its major counterparts in the European session on Wednesday, after payroll processor ADP reported lower than expected private sector job growth for August.

ADP said private sector employment increased by 428,000 jobs in August after rising by an upwardly revised 212,000 jobs in July.

Economists had expected employment to jump by 950,000 jobs compared to the addition of 167,000 jobs originally reported for the previous month.

The economic calendar also includes factory orders for July at 10 am ET and the Federal Reserve's Beige book report at 2 pm ET.

The ADP data serves a precursor to much anticipated nonfarm payrolls data, which will be released on Friday.

U.S. employment is expected to increase by 1.4 million jobs in August after an increase of 1.76 million jobs in July. The unemployment rate is seen falling to 9.8 percent from 10.2 percent.

The greenback rose in the previous session as better than expected ISM manufacturing index signaled some improvement in the economic recovery.

After advancing to a 5-day high of 1.1845 at 7:30 am ET, the greenback held steady against the euro. The pair had closed Tuesday's deals at 1.1911.

Data from the Federal Statistical Office showed that German retail sales declined for a second straight month in July, defying expectations for a rebound after the coronavirus pandemic-related lockdown curbs were eased.

Retail sales fell 0.9 percent month-on-month, while economists had forecast a 0.5 percent increase.

The greenback held steady at 1.3353 against the pound, following a 4-day gain to 1.3325 at 3:35 am ET. The pound-greenback pair had finished yesterday's trading session at 1.3382.

Data from Nationwide Building Society showed that UK house prices increased the most since early 2004 as the property market showed signs of recovery following the easing of lockdown restrictions.

House prices advanced by more-than-expected 2 percent on month in August, faster than the 1.8 percent rise seen in the previous month.

The greenback eased off slightly to 106.11 against the yen, from a 5-day high of 106.29 hit at 7:50 am ET. The pair was worth 105.94 when it ended deals on Tuesday.

The greenback was trading at 0.9115 against the franc, down from near a 2-week high of 0.9137 set at 4:00 am ET. At Tuesday's close, the pair was valued at 0.9093. The greenback is poised to test support around the 0.88 level.

Looking ahead, U.S. factory orders for July and the Federal Reserve's Beige book report are set for release in the New York session.


The material has been provided by InstaForex Company - www.instaforex.com

U.S. Private Sector Job Growth Misses Estimates In August

Trading 02 sept 2020 Commentaire »

Payroll processor ADP released a report on Wednesday showing much weaker than expected private sector job growth in the month of August.

ADP said private sector employment increased by 428,000 jobs in August after rising by an upwardly revised 212,000 jobs in July.

Economists had expected employment to jump by 950,000 jobs compared to the addition of 167,000 jobs originally reported for the previous month.

"The August job postings demonstrate a slow recovery," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

She added, "Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels."

The report said employment in the service-providing sector climbed by 389,000 jobs in August, reflecting notable job growth in the leisure and hospitality and healthcare and social assistance industries.

Employment in the goods-producing sector edged up by 40,000 jobs, as the construction industry added 28,000 jobs and manufacturing employment inched up by 9,000 jobs.

ADP also said employment at large businesses jumped by 298,000 jobs, while employment at mid-sized and small businesses rose by 79,000 jobs and 52,000 jobs, respectively.

On Friday, the Labor Department is scheduled to release its more closely watched monthly employment report, which includes both public and private sector jobs.

Economists currently expect employment to jump by 1.400 million jobs in August after surging up by 1.763 million jobs in July. The unemployment rate is expected to dip to 9.8 percent from 10.2 percent.

"The ADP figures massively overstated the slowdown in payroll growth in July, but we suspect they will be closer to the mark in August," said Michael Pearce, Senior U.S. Economist at Capital Economics.

He added, "Note the official non-farm payrolls figure will be boosted by the nearly 250,000 temporary Census hires last month, which are not counted in the ADP measure."


The material has been provided by InstaForex Company - www.instaforex.com

*Canadian Labor Productivity Spikes 9.8% In Q2

Trading 02 sept 2020 Commentaire »

Canadian Labor Productivity Spikes 9.8% In Q2


The material has been provided by InstaForex Company - www.instaforex.com

U.S. Private Sector Employment Increases Much Less Than Expected In August

Trading 02 sept 2020 Commentaire »

Payroll processor ADP released a report on Wednesday showing much weaker than expected private sector job growth in the month of August.

ADP said private sector employment increased by 428,000 jobs in August after rising by an upwardly revised 212,000 jobs in July.

Economists had expected employment to jump by 950,000 jobs compared to the addition of 167,000 jobs originally reported for the previous month.

"The August job postings demonstrate a slow recovery," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Declines Following ADP Data

Trading 02 sept 2020 Commentaire »

Following the release of U.S. ADP private payrolls data for August at 8:15 am ET Wednesday, the greenback slipped against its major counterparts.

The greenback was trading at 106.14 against the yen, 0.9104 against the franc, 1.3362 against the pound and 1.1866 against the euro around 8:17 am ET.


The material has been provided by InstaForex Company - www.instaforex.com