Showing posts with the label June 05
Asia Australia trade surplus shrinks on forex strength LOS ANGELES (MarketWatch) -- Australia reported Thursday a narrowing of its trade surplus in April, as exports logged a 1% drop from the previous month, with the result missing forecasts. The April trade account was just 28 million Australian dollars ($26.6 million) in surplus, shrinking drastically from a A$555 million suplus in March, the Australian Bureau of Statistics said. The drop in exports came as the Australian dollar hit its recent peak near $1.06, and despite a 12% rise in non-monetary gold exports during the month. Since then, the Australian currency has slipped back to its lowest levels in more than a year. April imports, meanwhile, ticked 1% higher from March. The Australian dollar fell immediately after the data, but quickly moved higher, trading at 95.03 U.S. cents from 94.90 U.S. cents ahead of the numbers.
U.S. stocks tumble with jobs report in mind: Wall Street at Close Report by MarketWatch, June 05, 2013.
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By Kate Gibson , MarketWatch NEW YORK (MarketWatch) — U.S. stocks tumbled on Wednesday for a second session as data on U.S. private-sector job growth darkened views of the monthly nonfarm-payrolls report to be released in two days. “More attention is being brought to the economic data, so everyone can play Nostradamus and guess what the Fed’s next move will be,” Mark Luschini, chief investment strategist at Janney Montgomery Scott, said of ongoing guessing as to when the Federal Reserve would begin tapering its $85 billion in monthly bond purchases. Stock indexes remained deeply under water after the release of the Fed’s so-called Beige Book, which found the U.S. economy to be still growing at a “modest to moderate” pace. “In the past few weeks, good news is bad, and bad news is bad, as we started to see talk of the tapering come through,” said Sean Lynch, global investment strategist for Wells Far