best forex broker 2018

Top Forex Brokers

Broker Reviews Min Deposit
Octafx Octafx Review $5
FBS FBS Review $5
XM XM Review $200
InstaForex Review

Fundamental News: August 7, 2013


Statistics Canada declared on Tuesday that International Merchandise Trade posted a deficit of CAD0.5 billion in June, as exports advanced 1.4 percent (CAD39.6 billion) while imports rose only 0.6 percent (CAD40 billion). This is a slight improvement from May’s deficit of CAD0.8 billion. Exports to the US advanced 1.5 percent, while export to other countries rose 3.3 percent.


The United States also posted a deficit in June, according to the Bureau of Economic Analysis. June exports totaled $191.2 billion while imports amounted to $225.4 billion, resulting to a $34.2 billion deficit. This was narrowed more than estimated and hit the lowest level in 3.5 years.


Meanwhile, Bureau of Labor Statistics reported that JOLTS Job Openings stood at 3.94 million, a steady increase for the second month.


Today, New Zealand made known some key jobs data. Employment Change in the second quarter posted a 0.4 percent advance. The Unemployment Rate during the same period ticked up to 6.4 percent, but it was down slightly compared to the same period last year.


In Australia, Home Loans grew more than forecast, according to the Australia Bureau of Statistics. New loans advanced 2.7 percent, its fifth straight monthly climb.


In Switzerland, Consumer Price Index eased 0.4 percent in August, following five straight monthly gains. Meanwhile, Foreign Currency Reserves amounted to CHF434.9 billion.


Bank of England expects inflation to stay around 2.9 percent in the short-term horizon. The MPC intends to “maintain the present highly stimulative stance of monetary policy” and it has linked the movement of the interest rate to the movement of the unemployment rate. Specifically, the BOE does not intend to hike rates until the jobless rate hits 7 percent.


In Germany, Industrial Production rebounded in June, rising 2.4 percent. Analysts only looked for a 0.3 percent gain after May posted a 0.8 percent decline.


Later, all eyes are on Canada with its release of the Ivey PMI and Building Permits data.



Commodities News


Selling in Gold continues as expected. Price made a solid close below $1,300 yesterday, and it is slowly marching down in the $1,270s. Buyers still have a window of opportunity to support price around $1,250-70 but they are surely running out of time, and possibly, supporters.



Oil extended its range downward yesterday as more selling poured in. Pre-North American session, price is trading just below $105 and in a very tight range so far. The double top mentioned the other day is looking more complete, and a move below $103 could see price fall further.

Please Leave Your Feedback Below