Figures weaker than expected. However the rally in euro dollar to 60 as they came out were more to do with rumours of an explosion at Mnachester airport. Now it turns out it was a mere power failure. Very surprised cable failed to test 1.79 and seems to indicate there is interest at moment to buy it at 15. Roll on the figures this afternoon. (Incidentally nearly all my trading is on or just after news. It is when there is a lack of data/news that I have to force myself to do other stuff and not trade for the sake of it. I am sure others find the opposite true though and am just saying what works for me).
Yes 2.7% - you should try Bloomberg radio - a bit delayed although not bad. Are we the only FX Traders on ET??
We are the only ones that mumble... If they came out at 2.7...then that was the consensus expected, according to what I have (link posted earlier). Do the wire services say weaker? Michael B.
I have a Bloomberg terminal and Market News. Market News is very cheap and as quick as anyone at releasing figures. Expected was 4.3% according to research this am from Bk of America, HSBC and JPMorgan.
Yeah I think slightly off consensus. I tried Market News Lon Eagle - pretty good stuff. Although I haven't signed on the dotted line yet
These guys called it right... http://www.dailyfx.com/calendar/FXCalendar.html 2.7 it was....right? that is a huge difference from 4.3, isnt it? (previously it was 2.7) Michael B.
As i said it is very quick at figures, has quite good exlusives with central bankers and the fx bullets bit is quite useful. What it is awful at is that it only really releases figures and not 'stories' or non data significant announcements, unlike bloomberg and reuters.
Looks like I need to change where I get my forecast figures... normally forexnews.com (not sure where they get it)
Without being picky they did not. The employment rate was in line at 2.7%(but is always ignored in the UK). The 2 big numbers were average earnings that was 3.7% cf forecast of 4.3% and the unemployment numbers which was forecast down 10k and was down 6k. The only figure out of line therefore was average earnings and fxcm forecast was in line with Bk of America,HSBC etc etc.