Daily Morning Report 06/12/2012 | Forex Trading Analysis

 The  Aussie Dollar! traded higher as the unemployment rate in Australia beat expectations edging slightly lower to 5.2 percent in November and added 13,900 new workers to the labour force. Remarkably, the economy shed 4,200 full-time workers while it seems the gains in November were the result of adding 18,100 new part-time staffers. The participation rate remained unchanged at 65.1 percent

The services industry in the United States is in tune with consumer spending figures than the ISM manufacturing report released fell to its lowest level of the year at 49.5 in November continues to grow and at a fast pace.

Decline came when sales of Spanish 3, 7, and 10-year bonds disappointed a maximum target of 4.5 billion Euros by only raising 4.25 billion in the auction. Euro-zone retail sales were reported to have declined 1.2% in October, the disappointing number kept EURUSD below 1.3100. Later today the ECB will announce the interest rate expectations are for the rate to be left at 0.75%. Also, an updated estimate of the Euro-zone GDP for Q3 will be released the previous estimate saw a 0.1% decline.

Slight fall in New Business

The UK service sector registered little change in business activity during November as incoming new work fell slightly for the first time in nearly two years. A tough economic climate was commonly reported to have undermined efforts to secure new business. UK Stock! This also weighed on service sector confidence, with sentiment falling in November to the lowest of 2012 so far. After accounting for seasonal factors, the Business Activity Index recorded 50.2, compared to 50.6 in October.

US ADP

Private sector employment increased by 118,000 jobs from October to November, according to the November ADP National Employment Report®, which is produced by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions, in collaboration with Moody’s Jobs! Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. The October 2012 report, which reported job gains of 158,000, was revised down by 1,000 to 157,000 jobs.

ISM Services Gauge in U.S

The Institute for Supply Management’s index of U.S. non-manufacturing businesses, which covers about 90 percent of the economy, rose to 54.7 in November from the prior month’s 54.2, the Tempe, Arizona-based group said today.  ISM! Readings above 50 signal expansion, and estimates ranged from 51 to 54.7. The ISM services survey covers industries ranging from utilities and retailing to housing, health care and finance.

Daily Afternoon Report 04/12/2012 | Forex Trading Analysis

  The US dollar was broadly lower against the other major currencies as investor confidence was boosted by hopes that Greece’s plan to buy back debt will succeed. EURUSD found support after Greece launched a scheme to buy back its debt from private investors, as part of an agreement to unlock a new bailout package worth EUR44 billion. European Union finance ministers were holding talks in Brussels on Tuesday, to discuss banking supervision in the euro zone.

  The GBP remained supported after data showed that construction sector activity in the U.K. unexpectedly declined to a three month low in November.

  The yen strengthened after Monday’s weak U.S. manufacturing data and ongoing concerns over the U.S. fiscal cliff enhanced the safe haven appeal of the currency.

 Click Here! The Australian dollar turned higher earlier after the Reserve Bank of Australia cut its benchmark interest rate to 3% from 3.25% in a widely anticipated decision. RBA Governor Glenn Stevens said the Australian dollar remains “higher than might have been expected” given lower export prices and a weaker global outlook.