A Look at Recent Economic Data from Australia, France and the US

A Look at Recent Economic Data from Australia, France and the US
A Look at Recent Economic Data from Australia, France and the US

The trade balance in Australia dropped to a seasonally adjusted 0.03 B as per the official reports released by Australian Bureau of Statistics on Thursday. The trade balance for the preceding month was 0.31 B, and economic analysts had expected it to go down to 0.22 B for the last month, which obviously dropped much more than their estimated level.

On the contrary, the French Unemployment Rate saw a surge of 10.8 %, as shown in the report of INSEE revealed on Thursday. In view of the preceding month’s 10.5 % mark that was revised from 10.6 % figure, it was expected that the rate of employment in France would go up to 10.9 % for last month, but it failed to reach that mark just by a bit.

Coming to the economic data for the U.S., the gasoline inventories posted a sudden drop for the last quarter, as it registered a seasonally registered annual rate of -0.366 M. According to the official data released by US Energy Information Administration, the U.S. Gasoline Inventories in the preceding quarter were -1.514 M, and the analysts had expected the figure to go up to 0.522 M in the previous quarter but it dropped much more than the predicted mark.

Even the U.S. Crude Oil Inventories plummeted to a seasonally adjusted annual rate of -6.267 M, while the figure of the last month was 3.000M. As per the official report given by Energy Information Administration, economists had estimated the crude oil inventories to drop -0.356 M for the previous month.

On the other hand, the U.S. Census Bureau reported on Wednesday that the U.S. factory orders registered a rise in the month of April. As per the data, the factory orders witnessed a growth of a seasonally adjusted 1% in April, while the analysts had expected to see a surge of 1.6% for last month. This was still better than the data for March, when the factory orders saw a huge drop of 4.9%.

Considering the mixed data, the U.S. dollar maintained its strength against the Euro, as EUR/USD was trading at 1.3071 plummeting by 0.1%.

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Jonathan Millet is currently the proud CEO of ForexMinute.com, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers. He also holds the position of Binary Options Consultant at ForexMinute.com. Before ForexMinute.com was around, Jonathan was a successful Forex dealer and chief market analyst at Forexyard. He has also worked as a Forex trader. His other specialties include advising financial companies of how to stay head of the competition.