The economic news in the currency market of July 2, 2013

dollar australien_forex.frLes daily news for forex mainly concern the Australian central bank announced its monetary policy decision. As required by the foreign exchange market, the status quo was maintained with a rate of 2.75%, the lowest historical, but necessary to enable growth through exports restart rates.

After this announcement, the Australian dollar fell further against 0.9224 with 0.9201 just before the speech Governor Glenn Stevens. Since April, the decline already amounts to 10% and should be sustained because of the likelihood of further rate cuts in Australia, helped by inflation in the central bank target of 3%.

On the European side, the Spanish Ministry of Employment today announces good news: unemployment fell by 2.6% or 127,200 unemployed less than last month. However, this can be explained by the increase in seasonal jobs. Regarding the budget balance remains always negative with a slight improvement.

Finally, the unemployment rate in the euro area in May was revised up to 12.2% due to an error in the data for France. Indeed, the French unemployment rate was revised up 0.5 percentage points, an increase in the Euroland of 0.1 points.