GDP figures worse than expected
In the second quarter GDP figures and other connected string of weak U.S. data Order market about the U.S. economic outlook, and increasingly believe the Fed in the second half of next year will not raise interest rates before year. U.S. dollar sold off against the yen and other major currencies fell. Looking ahead this week, investors will be concerned about than the Bank of England and European Central Bank's interest-rate and other meetings held, will close attention will be Friday's U.S. non-farm employment data, to help further assess the economic outlook.
U.S. dollar last Friday fell against most major currencies, mainly because the U.S. GDP figures worse than expected, the market is estimated that the U.S. interest rate instruction will remain near zero for a longer period. U.S. second quarter on an annualized quarterly growth in total 2.4%, lower than the first revised 3.7 percent increase. Slower growth reflects high unemployment and the shortage of bank credit growth in personal consumption spending slowed. The revised figures also show that the U.S. economy in 2007 4th quarter year to 2009 year, a total of contraction between the second quarter of 4.1%, systolic greater extent than previously estimated 3.7 percent, Order of the qualification period after the Great Depression in the most inclement future recession.
Dollar against the yen
Generally soft U.S. dollar, mainly due to slower U.S. economic growth in the second quarter, to strengthen the U.S. market recovery Weakness view. Level fell below 86 dollars a yen, from the day high of 8 6. 91 fell to eight-month low of 8 5. 9 6. Subsequently, as the Chicago manufacturing purchasing managers index and the revised index of consumer confidence than market expectations, helped the dollar recovered some lost revenue. Dollar against the yen last collection of 8 6.4 0 / 50, compared with the previous day to close down 45 basis points. Short-term outlook, investors are awaiting the U.S. Institute for Supply Management's manufacturing sector will be announced later today report. However, based on fears of economic deterioration in the U.S. dollar will continue to weigh on instruction.
EURUSD
Order as poor U.S. economic data, a weaker U.S. dollar, the euro Shouwen at 1.3 than 0. Spain's unemployment rate rising and retail sales in Germany fell, dragging the early part of the euro against the dollar cumulative decline to 1. 2981. And after the U.S. economic growth in the number of worse than expected, driving the euro rebounded. Euro against the dollar last Friday to close at New York NOTIFICATION 1. 3051 / 6, 1, and the change is not large compared with the previous day. Concluded in July, to ease the debt crisis in Europe and the U.S. economy is not stable for more than drive the euro up by 6%.
Spot gold price
Benefit from the dismal U.S. data, gold prices rebounded last Friday. Yang had the highest spot price per ounce 1, 1 8 3. 10 U.S. dollars, eventually closing at 1, 1 8 1. 8 0 / 1, 1 8 2.8 0 U.S. dollars. However, the gold price since June is still in mid-channel to establish within the next decrease, indicating the decline will continue for some time. Entire month gold price in July fell by about 5%, as from December last year the largest single month decline since.
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