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Gold Fundamental Analysis – September 10th 2015
Written by: PaxForex analytics dept - Thursday, 10 September 2015 0 comments
Here are the key factors to keep in mind today for Gold trades:
Japanese Machine Orders: The Japanese economy continues to struggle and release economic reports which point towards a global economy slowing down fast. Economists predicted machine orders to contract by 3.3% in July monthly and to rise by 10.3% annualized. The released figure showed a contraction of 3.6% monthly and an increase of only 2.8%. Forex traders can compare this to the contraction of 7.9% and increase of 16.6% reported for June.
Australian Consumer Inflation Expectations: Consumer Inflation Expectations for September decreased to 3.2%. Forex traders can compare this to the 3.7% increase reported in August.
Australian Employment Report: The Australian economy added 17,400 jobs in August and the unemployment rate decreased to 6.2%. Economists predicted 5,000 jobs to be added an an unemployment rate of 6.2%. July's jobs data was revised higher and now shows jobs additions of 39,200. The labor force participation rate decreased to 65.0%. 11,500 full-time jobs were added in August and 5,900 part-time jobs. Forex traders can compare this to the 13,100
full-time jobs and 25,600 part-time jobs which were added in July.
Chinese CPI & PPI: The CPI rose by 2.0% and the PPI decreased by 5.9% in August annualized. Forex traders can compare this to the increase of 1.6% and the contraction of 5.4% which was reported in July. Economists predicted an increase of 1.8% and a contraction of 5.6%.
Bank of England Announcement: Economists predict that the Bank of England will keep interest rates at 0.50% and the Asset Purchase Target at £375 billion.
Canadian Capacity Utilization Rate: The Capacity Utilization Rate for the second-quarter is expected to decrease to 81.7%. Forex traders can compare this to the Capacity Utilization Rate of 82.7% in the first-quarter.
US Wholesale Inventories: Economists predict an increase of 0.3% in wholesale inventories for the month of July. Forex traders can compare this to the increase of 0.9% in wholesale inventories for the month of June.