Germany’s factory orders decreased more than expected in December. The orders declined by 4.8% on a seasonally adjusted basis from 5.2% increase in November, reported Bundesministerium für Wirtschaft und Technologie. Experts predicted the Germany’s factory orders to slip by 1.6% in December.
US employers managed to exceed expectations in creating new jobs adding more than 200,000 new jobs in December. The unemployment rate declined to 8.5%, hitting three-year low while the salaries and working hours jumped. Better than expected results follow increase in manufacturing activities and improved consumer confidence thus signaling on economic recovery of the US.
UK’s services sector grew more than expected in December. The services PMI increased to 54.0 last month from 52.1 in the preceding month, hitting five-month high. Analysts expected the figure to rise by 51.6. Services sector increased by 0.3% approaching 0.4% in Q4, lower than 0.7% in Q3. The increase is inspiring taken the recession in the Euro Zone, said Chris Williamson, chief economist at Markit.
Swiss CPI decreased more than initially projected in December, according to official data. The indicator remained at minus 0.2% seasonally adjusted unchanged from November, reported Swiss Federal Statistical Office. Experts expected the consumer price inflation to decline by 0.1% in December.
The Yuan is expected to face large fluctuations in 2012 but mainly appreciate by 2%-3% against the USD over the year, said professor at Fudan University. The central bank of China essentially increased a daily reference rate to 6.3 Yuan per one USD. The Chinese currency is allowed to fluctuate by 0.5% above or below the reference rate. Wider currency fluctuations will positively affect China’s system for determining exchange rates and decrease the Yuan appreciation, the professor added.
Daily maximum: 1.2812
Daily minimum: 1.2700
The shared European currency continued moving downwards versus the dollar, leaving the daily forecast mean (1.2822) untapped as the US economy added 200k and the unemployment declined to 8.5%. Daily Resistance: 1.2900; 1.3011; 1.3076. Daily Support: 1.2724; 1.2659; 1.2548. Daily Bias: Bearish.
Daily maximum: 99.94
Daily minimum: 97.92
The pair is still trading with the bearish sentiment as German Factory Orders declined (-4.8% versus -1.6% estimate), causing the daily mean at 98.75 to breach. Daily Resistance: 99.15; 99.69; 100.03. Daily Support: 98.27; 97.93; 97.39. Daily Bias: Strongly bearish.
Daily maximum: 1.5628
Daily minimum: 1.5468
The British pound recovered today after the Halifax HPI index changed less than expected, piercing the daily market participants’ mean at 1.5518. Daily Resistance: 1.5591; 1.5690; 1.5752. Daily Support: 1.5430; 1.5368; 1.5269. Daily Bias: Neutral.
Daily maximum: 77.33
Daily minimum: 77.02
USD/JPY was trading in the 77/78 price channel as the EU debt concerns weigh on the massive purchasing of yens, touching the daily target at 77.03. Daily Resistance: 77.34; 76.59; 77.93. Daily Support: 76.75; 76.41; 76.16. Daily Bias: Bearish.
Daily maximum: 0.9578
Daily minimum: 0.9506
The market forecast mean for Friday (0.9449) has not been breached yet, though investors continued selling off Swiss Francs on strong jobs report, indicating that the labour market in the US is shaping up. Daily Resistance: 0.9570; 0.9618; 0.9698. Daily Support: 0.9442; 0.9362; 0.9314. Daily Bias: Bullish.
Confidence in Euro Region at Two-Year Low as German Orders Slide: Economy
European confidence in the economic outlook fell to the lowest in more than two years and German factory orders plunged as the euro area’s leaders struggled to contain a worsening fiscal crisis and global demand weakened.
US economy creates 200,000 jobs in December
The US economy created 200,000 jobs in December, marking the sixth month in a row of gains, official figures show.
China FDI Hits $115 Billion in 2011, Eases in December
China saw about $115 billion in foreign direct investment (FDI) inflows in 2011, up 9 percent from 2010, the China Daily reported on Friday, citing data from the Ministry of Commerce.