26/05/2010 – Economic activity in OECD countries is picking up faster than expected but volatile sovereign debt markets and overheating in emerging-market economies are presenting increasing risks to the recovery, according to the OECD’s latest Economic Outlook.

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[Source: Federal Reserve of Cleveland]

Text of the speech:

“Forecasting in Uncertain Times

Introduction

My talk today is about forecasting in uncertain economic times. A very wise man named Yogi Berra once said “the future ain’t what it used to be.” Economic forecasters know exactly what he means. As a member of the FOMC, the Federal Reserve’s policy-making…

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Source: European Central Bank

ECB decides on measures to address severe tensions in financial markets

ECB decides on measures to address severe tensions in financial markets The Governing Council of the European Central Bank (ECB) decided on several measures to address the severe tensions in certain market segments which are hampering the monetary policy transmission mechanism and thereby the effective conduct of monetary policy…

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Statement by Glenn Stevens, Governor:

Monetary Policy Decision At its meeting today, the Board decided to raise the cash rate by 25 basis points to 4.5 per cent, effective 5 May 2010.

Recently, forecasts for world GDP growth have been revised up again, and growth is expected to be at trend pace or a little above in 2010. Conditions in Europe remain quite weak…

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Source: European Central Bank

PRESS RELEASE 2 May 2010 – ECB assesses the Greek economic and financial adjustment programme The Governing Council of the European Central Bank (ECB) welcomes the economic and financial adjustment programme which was approved today by the Greek government following the successful conclusion of the negotiations with the European Commission, in liaison with the ECB, and the International Monetary Fund. The ambitious fiscal adjustment and…

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Source: Atlanta Fed

Dennis P. Lockhart
President and Chief Executive Officer
Federal Reserve Bank of Atlanta

From yesterday’s intervention:

1) Lockhart forecasts a modest U.S. recovery:

Looking ahead, the central question for the United States is how strong the recovery will be and how long it will take to reduce unemployment.

Views about the…

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Key points:

1) economic activity has continued to strengthen and that the labor market is stabilizing.

2) housing starts have been flat at a depressed level,

3) The same language about rates: ‘ exceptionally low levels ‘

Link to the full statement

 [ Source…

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EurUsd starts the european trading at resistance levels – 1.3705. Next resistances seen at 1.3735 and 1.3790. Supports levels at 1.3670 and 1.3615.

euro dollar

Reports from the twelve Federal Reserve Districts indicated that economic conditions continued to expand since the last report, although severe snowstorms in early February held back activity in several Districts. Nine Districts reported that economic activity improved, but in most cases the increases were modest. Overall conditions were described as mixed in the Atlanta and St. Louis Districts, though St. Louis noted further signs of improvement in some areas. Richmond…

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Feb.6 The Department of Labor has released the initial claims in the week ending Feb.6 and the continued claims ending Jan.30 (there is a delay of one week between both series).

Initial Jobless Claims: The advance figure for seasonally adjusted initial claims was 440,000, a decrease of 43,000 claims from the previous week’s revised figure of 483,000 revised from the initial 480,000 data.

4 week Moving