Australia`s Bureau of Statistics is expected to issue their monthly reports concerning the state of employment in the southern nation tomorrow 12 December 2012. The two reports that are to be presented for the month of November are the Employment Change and the Unemployment Rate. At this time, many experts have expressed the belief that there was an increase in the number of jobs added to the workforce along with a rise the rate of unemployment.
Analysts note that the Aussie has struggled through tough times in recent weeks, with the government failing to effectively tackle the issue of employment, barely adding a miniscule number of jobs during the previous period of October. As the number of people gaining employment in Australia remains low, it will likely put a damper on important economic health factors such as productivity and consumption, which could further harm the value of the Aussie in its trading against rival currencies.
Traders are advised to watch for fluctuations with the Aussie over the coming days as the market digests the employment figures and the effect that it will have on the economy there.
US Advance Retail Sales Report to be Issued Tomorrow
The report detailing the rate of Advance Retail Sales for the month of November 2013 is set to be released on 12 December 2013. At this time, many experts have stated that they predict to see a rise in the level of these purchases from that of the previous month.
Analysts remind readers that this report represents a measure of the sales being made to consumers through retail outlets. As such it is representative of a number of important indicators that are useful for gaining a clearer picture of the state of the economy over a given time period, as well as helping to chart the future course that it may take. Perhaps the most obvious factor that is measured here is that of consumer demand. By comparing rates of sales from month to month, economists are able to understand what is the buying power of the consumer, which in turn is directly related to the state of employment. If consumers are confident in their level of job security, then they are more likely to spend more freely. It is also important to note that consumer spending comprise nearly two thirds of all American economic activity. Accordingly, this report is closely watched by observers looking to stay on the pulse of the state of the economy.
Analysts believe that these increased numbers can be based off of two important factors. The first is that as recent reports have shown, there has been a marked increase in the level of employment, with a significant number of jobs added during November and an absolute drop in the unemployment rate to the lowest level in five years. As noted above, increased job security leads to increased sales. The second factor is that of the Christmas shopping season which began in earnest after the Thanksgiving holiday at the end of November. Traditionally during this period, retailers depend on increased sales to boost their annual figures.
Traders can likely expect to see a rise in the value of the USD in the coming weeks as the dollar continues to rebound from the recession along with the American economy.
WTI Enjoys Spike on Lower US Stockpiles
It was reported on 11 December 2013 that the West Texas Intermediate energy market was experiencing a rise in prices following reports that crude supplies in the US had fallen. The increase in prices represents the highest point that the WTI has succeeded in reaching in nearly six weeks.
Analysts note that the WTI has suffered in recent weeks due to previous reports that the US stockpiles were unusually high. As such, the demand from the world?s largest consumer of oil had dropped, depressing prices. With news that the supply may have decreased with demand remaining constant, analysts draw the logical conclusion that prices will then rise.
Analysts also note the recent announcement out of Libya that three oil exporting ports are expected to reopen later this month, adding an additional supply of crude into the market, perhaps influencing prices.
Investors are advised to watch for fluctuations in the oil market as the experts attempt to determine the accurate level of supplies in the US stockpiles, and as the Libyan crude begins to re-enter the market.