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[IFX Svetlana]

[QUOTE=JohnTaverner;258519]What happened after joining the obama as president of America. It will go up word or down word.


I think, it is not the worst thing for the rest of the world that Obama became the US President. Barack Obama will bring positive changes to America.

[IFX Svetlana]

While the Labor Department released a report Thursday morning showing a modest decrease in first-time claims for unemployment benefits in the week ended March 6th, the report also showed an increase in continuing claims.

The report showed that initial jobless claims edged down to 462,000 from the previous week's revised figure of 468,000. Economists had expected jobless claims to slip to 460,000 from the 469,000 originally reported for the previous week.

Peter Boockvar, equity strategist for Miller Tabak, said, "Due to the noise around the snow storms, it's best to look at the 4-week average, which smoothes out the data."

The less volatile four-week moving average rose to 475,500 from the previous week's revised average of 470,500. With the increase, the moving average reached its highest level since late November of 2009.

Additionally, the Labor Department said that continuing claims, a reading on the number of people receiving ongoing unemployment help, rose to 4.558 million in the week ended February 27th from the preceding week's revised level of 4.521 million.

With the increase, continuing claims bounced off the more than one-year low set in the previous week, which was the lowest level since claims came in at 4.487 million in the week ended January 3rd, 2009.

On the other hand, the report also showed that those receiving emergency unemployment compensation fell by almost 160 thousand in the week ended February 20th to 5.528 million. Those receiving extended benefits also fell by about 15 thousand in the week.

Boockvar said, "We hope this category begins to fall due to recipients finding new jobs rather than from exhaustion of benefits, but the hiring outlook still remains uncertain."

Last Friday, the Labor Department released a report showing that payroll employment showed a relatively modest decrease in the month of February, despite the impact of severe winter weather.

The report showed that non-farm payroll employment fell by 36,000 jobs in February following a revised decrease of 26,000 jobs in January. Economists had expected a more substantial loss of about 68,000 jobs compared to the loss of 20,000 jobs originally reported for the previous month.

While the Labor Department acknowledged that the data was impacted by the severe snowstorms in early February, it said it is not possible to precisely quantify the net impact of the storms.

The Labor Department also said that the unemployment rate in February remained unchanged from the previous month at 9.7 percent. The unemployment rate had been expected to tick up to 9.8 percent.


News are provided by InstaForex.

[Darika]

China's consumer price inflation rate accelerated more than expected in February, increasing the pressure on its central bank to raise interest rates amid fears the economy may be overheating.

Consumer prices increased 2.7% year-on-year in February, the National Bureau of Statistics said, exceeding expectations for a 2.5% increase following the 1.5% growth in the previous month.

The rise in prices was mainly driven by a 6.2% surge in food prices. Non-food prices climbed 1%.On a monthly basis, the consumer price index rose 1.2% in February.

In the first two months of the year, consumer prices increased 2.1% compared with the same period a year ago. Economists look for the combined inflation data for the first two months as it smoothes the distortion caused by the Chinese New Year holiday.

The pickup in the inflation rate adds to worries that China's economy may be expanding too quickly.

However, a spokesman for the statistical office said inflation will ease in March as weather conditions improve, bringing down food prices.

Figures released today by the People's Bank of China showed that bank lending was down sharply in February, as the government seeks to rein in runaway growth in the economy.

Chinese banks extended CNY 700.1 billion in new local-currency loans in February, down from the CNY 1.39 trillion lent in January.

M2 money supply - the broadest measure of money supply in the country - surged up 25.5% year-on-year in February, slower than the 26% increase in the previous month.

Separately, the statistical bureau said that producer prices surged 5.4% annually in February. The growth exceeded expectations for a 5.1% increase and follows the 4.3% growth in the previous month.

Industrial production in China increased 12.8% year-on-year in February. This came below forecasts for a 19.5% increase.

In the first two months of the year, industrial production increased 20.7% compared to the same period a year ago.

The statistical bureau also announced that retail sales were up 22.1% annually in February, also exceeding expectations for a 18.7% gain. In the first two months, retail sales were up 17.9%.

Meanwhile, urban investments in fixed assets in the first two months of 2010 increased 26.6%, above expectations for 25.6% growth.

A separate real estate report from the statistical office showed that property prices in 70 major cities across the country were up 10.7% year-on-year in February, faster than the 9.5% increase in the previous month.

Housing prices were up 13% year-on-year in February, faster than the 11.3% increase in January, the statistical office said.

Property sales in the first two months of the year soared 70.2% compared to the same period a year ago.

News are provided by InstaForex.

[IFX Svetlana]

The euro was mixed on Tuesday, firming up against the dollar despite concerns about deflation in the Euro zone.

Eurozone core inflation dropped to an all-time low in February, suggesting that deflationary pressures persist in the 16-nation economy.

Core inflation, which excludes energy, food, alcohol and tobacco, stood at 0.8% in February, down from 0.9% in January, data released by the Eurostat showed Tuesday. That was in line with the consensus forecast and was the lowest rate since comparable data was compiled in 1990.

However, this morning's economic news will likely be overshadowed by the Federal Reserve's latest statement on interest rates, which is expected at around 2:15 pm ET.

While the Fed is expected to keep interest rates near zero, the accompanying statement will garner significant attention for subtle changes the central bank's assessment of the US economy and timeline for future rate hikes.

Yesterday, European finance ministers worked out a strategy for emergency loans to Greece, in case the country's $6.6 billion tax hikes and wage cut plans fail. Standard & Poor's affirmed the nation's credit ratings.

The euro rose to 1.3740 versus the dollar, staying away from a 9-month low of 1.3434 set earlier this month.

The euro slipped to .9054 versus the sterling, but remained within hailing distance of its 2010 highs above .9150.

In news from the US, new residential construction showed a notable decrease in the month of February, according to a report released by the Commerce Department on Tuesday. Analysts say the data was impacted by unusually bad winter weather in the Northeast.

The report showed that housing starts fell 5.9 percent to an annual rate of 575,000 in February from the revised January estimate of 611,000.


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[Darika]

The Latvian government has said the baltic country will officially adopt the euro on January 1, 2014.

The Latvian Cabinet of Ministers said the country must meet several criteria of the Maastricht Treaty before adopting the common currency.

The country's budget deficit must below 3% of the gross domestic product and total government debt must not exceed 60% of GDP.

After the common currency is adopted, both the lat and the euro will be in circulation within Latvia in order to ensure a smooth transition.

In order to quicken the process, change will only be given in euros during the transition period, the government said.

News are provided by InstaForex.

[IFX Svetlana]

Manufacturing activity in the mid-Atlantic region is continuing to show signs of growth in the month of March, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the index of activity in the manufacturing sector rising by more than expected.

The Philly Fed said its index of regional manufacturing activity rose to 18.9 in March from 17.6 in February, with a positive reading indicating growth in the sector. Economists had been expecting a more modest increase by the index to a reading of 18.0.
While the headline index showed a continued improvement in activity in the sector, the new orders index fell to 9.3 in March from 22.7 in February and the shipments index slipped to 13.6 from 19.7 in the previous month.

At the same time, the report showed an acceleration in the pace of employment growth in the sector, as the number of employees index rose to 8.4 in March from 7.4 in February. With the increase, the index rose to its highest level since October of 2007.

The Philly Fed said firms' responses continued to suggest that labor market conditions have been stabilizing in recent months.

On the other hand, the inventories index fell to a negative 11.0 in March from a positive 3.2 in February, indicating another contraction in inventories.

The report also showed that the prices paid index rose to 38.6 in March from 32.4 in February, while the prices received index fell to a negative 0.4 from a positive 3.7 in the previous month.

Looking ahead, the future general activity index remained positive for the 15th consecutive month, rising to 52.0 in March from 35.8 in February.

The Philly Fed added that the percentage of firms expecting employment to increase over the next six months exceeded the percentage expecting declines for the eleventh consecutive month.

Earlier this week, the New York Fed released its report on regional manufacturing activity, showing that conditions for New York manufacturers continued to improve at a steady pace in March.

The New York Fed said its index of regional manufacturing activity edged down to 22.9 in March from 24.9 in February, but a positive reading still indicates growth in the sector. Economists had expected the index to slip to a reading of 22.0.

News are provided by InstaForex.