Corporate foreign exchange news

Forex dealers to be hit by US figures?

Tuesday, 02 August 2011 09:03:25 GMT

Published by Mark Smith-Halvorsen
Forex dealers could be impacted by statistics relating to car sales in the US, along with continued unemployment issues.
According to the median results of a survey conducted with 12 analysts by Bloomberg, deliveries of light vehicles in July will run at a yearly rate of 11.8 million.
During the first six months of 2011 the rate was at 12.5 million, the newswire reports.
Consultant AlixPartners is quoted as saying the nation's economy is not improving as quickly as some expected and the outlook could remain bleak for some time yet.
Meanwhile, unemployment remains high, with the company's Mark Wakefield saying: "This curve of unemployment looks like it's got a lot of legs."
The UK may also face a dent to confidence as Michael Baxter, editor of InvestmentandBusinessNews.co.uk, recently suggested that Gross Domestic Product figures, from the Office for National Statistics indicating a 0.2 per cent growth, were likely to be revised.
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