Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitIQ
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitIQ
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Forexpros Weekly Wrap-Up 05 October 2012

admin by admin
October 5, 2012
in Uncategorized
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Closing the Week with Forexpros

by Forexpros Staff

forexpros-logo

The dollar traded mixed to higher against most major currencies on Friday, regaining strength after softening when U.S. unemployment rates defied expectations and fell in September.

The U.S. unemployment rate fell to 7.8% percent in September from 8.1% in August, the Bureau of Labor Statistics reported earlier Friday.  Markets were expecting the rate to rise to 8.2%.

Employers added a net 114,000 nonfarm payrolls in September, while households reported that total employment rose by 873,000 in September following three months of little change.

Analysts were expecting the economy to pick up a net 113,000 nonfarm payrolls.

The number of unemployed Americans stands at 12.1 million, the fewest since January 2009.

More workers took on part-time jobs last month, which accounted for the drop in the headline unemployment rate.

The dollar weakened initially, as a falling headline inflation rate sparked a risk-on trading session that sent stocks and higher-yielding currencies rising at the greenback’s expense.

While the number of number of new jobs rose, the number was not strong enough to suggest fundamental improvements in the labor market are taking place, which gave the dollar support.

The dollar was up against the yen, with USD/JPY trading up 0.26% at 78.68, and down against the Swiss franc, with USD/CHF trading down 0.05% at 0.9300.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD trading down 0.13% at 0.9791, AUD/USD down 0.68% at 1.0170 and NZD/USD trading down 0.59% at 0.8169.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.05% at 79.46.

The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.30% at 1.6143.

The pound held steady against the U.S. dollar on Friday, trading close to a one-week high as risk sentiment was boosted by upbeat U.S. employment data, while invesors continued to focus on developments in Spain and in Greece.

GBP/USD hit 1.6217 during U.S. morning trade, the pair’s highest since September 28; the pair subsequently consolidated at 1.6188, dipping 0.01%.   The pair is likely to find support at 1.6118, the low of September 30 and resistance at 1.6272, the high of September 28.

The euro rose to a two-and-a-half week high against the U.S. dollar on Friday inspite of lingering euro zone debt worries.

EUR/USD hit 1.3070 during U.S. morning trade, the pair’s highest since September 19; the pair subsequently consolidated at 1.3069, climbing 0.42%.  The pair was likely to find support at 1.2994, the session low and resistance at 1.3114, the high of September 18.

When U.S. trading on Friday, EUR/USD was up 0.12% at 1.3032.

Gold

Gold prices fell in U.S. trading on Friday as investors sold the precious metal for profits, shrugging off solid unemployment data that sent gold’s traditional hedge, the dollar, dipping.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.94% at USD1,779.85 a troy ounce, up from a session low of USD1,774.95 and down from a high of USD1,798.05 a troy ounce.

Gold futures were likely to test support at USD1,774.95 a troy ounce, the earlier low, and resistance at USD1,798.05, the earlier high.

Gold has risen in recent sessions due to loose monetary policies around the world, in the U.S. especially.

The U.S. Federal Reserve is currently running a third round of quantitative easing, a monetary stimulus tool that sees the U.S. central bank buy USD40 billion in mortgage-backed securities a month on an open-ended basis to spur recovery.  Such policy tools weaken the greenback and make gold an attractive hedge.

Elsewhere on the Comex, silver for December delivery was down 1.78% and trading at USD34.475 a troy ounce, while copper for December delivery was down 0.56% and trading at USD3.765 a pound.

Oil

Crude oil futures fell on Friday amid profit-taking, as investors shrugged off the surprisingly strong U.S. employment data.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at USD89.46 a barrel on Friday, down 2.45%, off from a session high of USD91.65 and up from an earlier session low of USD89.03.

Oil ignored otherwise bullish data.

Oil gained when the news broke but later fell amid profit-taking on sentiment that despite the improvement, not enough new jobs were created last month.  More workers took on part-time jobs last month, which accounted for the drop in the headline unemployment rate.

On the ICE Futures Exchange, Brent oil futures for November delivery were up 2.94% and trading at USD111.34 a barrel, up USD21.88 from its U.S. counterpart.

Stocks

U.S. stocks ended mixed on Friday, wiping out earlier gains after investors applauded better-than-expected jobs data and later viewed the numbers with skepticism.

At the close of U.S. trading, the Dow Jones Industrial Average rose 0.26%, the S&P 500 index was down 0.03%, while the Nasdaq Composite index was down 0.42%.

Leading Dow Jones Industrial Average performers included Home Depot, up 2.35%, Boeing, up 1.36%, and DuPont, up 1.23%.

The Dow Jones Industrial Average’s worst performers included Hewlett-Packard, down 1.41%, Bank AT&T, down 1.28%, and Bank of America, down 0.96%.

European indices, meanwhile, finished higher.

After the close of European trade, the EURO STOXX 50 rose 1.83%, France’s CAC 40 rose 1.64%, while Germany’s DAX 30 finished up 1.27%. Meanwhile, in the U.K. the FTSE 100 rose 0.74%.

Previous Post

Sad State Of Affairs

Next Post

ECRI’s Weekly Leading Index Growth Index Rate Rises in w/e 29 September 2012

Related Posts

eBay Unveils Sports-Themed NFT Collection
Business

eBay Unveils Sports-Themed NFT Collection

by John Wanguba
May 25, 2022
SpaceX To Get $1.7B In New Funding To Send Valuation to $127B
Business

SpaceX To Get $1.7B In New Funding To Send Valuation to $127B

by John Wanguba
May 25, 2022
Hyundai Signs Deal to Establish Full EV and Battery Factories in Georgia, US
Business

Hyundai Signs Deal to Establish Full EV and Battery Factories in Georgia, US

by John Wanguba
May 25, 2022
US Tech Giants Meta, Google, and Amazon Could Profit from Ukraine War – Media Guru
Business

US Tech Giants Meta, Google, and Amazon Could Profit from Ukraine War – Media Guru

by John Wanguba
May 25, 2022
Google Looks For New Talent To Lead Global Web3 Efforts
Business

Google Looks For New Talent To Lead Global Web3 Efforts

by John Wanguba
May 25, 2022
Next Post

ECRI's Weekly Leading Index Growth Index Rate Rises in w/e 29 September 2012

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins banking Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi digital assets Elon Musk ETH Ethereum Ethereum blockchain finance funding government investment market analysis Metaverse mining NFT NFT marketplace NFTs nonfungible tokens nonfungible tokens (NFTs) price analysis regulation Russia social media technology Tesla the US Twitter

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • eBay Unveils Sports-Themed NFT Collection
  • SpaceX To Get $1.7B In New Funding To Send Valuation to $127B
  • Hyundai Signs Deal to Establish Full EV and Battery Factories in Georgia, US

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish