The following is a reformatted version of the full text of the statement released today by the Federal Reserve in Washington:
Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. Labor market conditions have improved further, the unemployment rate has declined notably in recent months [...]
International Economic Conditions
Global economic and financial market developments had been somewhat more positive over the past month or so. Whereas the situation had been looking quite negative in early December, recent actions by the European Central Bank and euro-area governments had boosted confidence, although further measures would be required to bring about a comprehensive [...]
Weekly Commitment of Traders Report
The Commodity Futures Trading Commission, or CFTC, publishes the Commitment of Traders report (COT) every Friday. The COT report reveals the net long and short positions taken by speculative traders and commercial traders, it is an excellent resource to gauge how heavily these big pockets are positioned in [...]
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 4.25 per cent.
Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have [...]
According to the latest report released by the Australian Bureau of Statistics, retail sales declined in December, the first drop in six months, as consumers spent less at grocers and on dining out. Reserve Bank of Australia’s board meets tomorrow to decide on rates, and most economists predict a third straight reduction. A survey of [...]
We had mixed news from the eurozone this week and therefore we see that EUR/USD has been consolidating between 1.3220 and 1.3030 in the fx market. Successful bond auctions in Spain and France, positive Manufacturing PMI figures fueled investors’ optimism. Another factor affecting the euro was the German Chancellor Angela Merkel’s visit to China to [...]
Even though Greek debt negotiations are still pressuring the euro in foreign currency market, disappointing U.S. economic data put doubts on the strength of the greenback. The latest Consumer Confidence Index figures released by the Conference Board showed that consumer confidence retreated in January, after large back-to-back gains in the final two months of 2011. [...]
While Greek officials are talking with private creditors about reducing its debt before a key payment comes due in March, people are increasingly wondering that if the Greeks don’t want to help themselves, why others should. Some believe that a terrible end is better than a terror without end. Some economists say that it’s better [...]
In the forex market, American dollar gained again the euro after mixed economic data. According to Commerce Department data, bookings for long-lasting goods advanced 3% after rising 4.3% the prior month, this is the biggest back-to-back gains in almost a year. Figures from the Commerce Department showed Purchases of single-family properties decreased 2.2% from the [...]
The currency market is still very sensible to the news from the eurozone. The situation in Greece raised concerns as the country moves closer to the possibility of a chaotic default and the market pulled back, but it is not impacting the market as much as before. Yesterday we saw better than expected eurozone flash [...]
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