Consumer confidence fell 12.3 points to 75.0 in February, the lowest level since March 2003. The present situation index fell 13.7 points to 100.6 as consumers grapple with a weaker job market and rising gasoline and food prices. Despite increasing inflation concerns, consumers expectations of inflation were unchanged.
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On Monday, the National Association of Realtors is expected to report that existing home sales slipped to 4.80 million - the lowest reading since record-keeping began in 1999. Sales of existing homes account for nearly 85 percent of the market, according to NAR, so this particular release serves as a…
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The dollar has weakened this past week, but the question on everyone’s mind is how bad is the US economy really doing? Hopefully next week’s heavy data calendar and testimony by Federal Reserve Chairman Ben Bernanke will shed more light on the state of the US economy and monetary policy….
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Dark clouds continue to hang over the US dollar as bearish sentiment took hold of investors, and pushed the already weakened currency lower against most of the major currencies. In today’ session, the Yen picked up as falling stock prices provided confirmation that investors are reducing their net positions in…
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The dollar was mixed in New York trading Friday on continued worries of US growth and interest rate outlook. Another theme is carry-trade unwinding as equity prices fell. No major US economic data was released today. Sterling rose for the second day following yesterday’s stronger-than-expected UK retail sales easing Bank…
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Canadian retail sales ended the year somewhere between a bang and a whimper. Total retail sales rose 0.6% in December, matching consensus expectations, but the increase was due almost entirely to higher spending on new and used cars and the gasoline to get them on the road. Excluding automobile related…
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The Greenback is modestly lower again with no U.S. data to trade off of. USD/JPY remains close lows at 106.86. Cable briefly tested a purported options barrier at the 1.97 level but has since backed off some 50 pips. The Loonie came under a bit of pressure following weaker than…
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The common currency reached its strongest level since 1 February as traders sold U.S. dollars ahead of the weekend. Data released in the eurozone today saw EMU-13 December industrial orders fall 3.6% m/m with annualized growth around 2.1%, much weaker-than-expected. In contrast, the EMU-15 January composite Purchasing Managers Index improved…
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The Canadian dollar capped any gains against the US dollar after reports showed December retail sales were weaker than forecasted. The Canadian retail sales rose 0.6 % in December which was lower than the 0.8 % median forecasted. This report increased the chance of a 50 basis point rate cut…
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Retail sales rose 0.6% in December, slightly weaker than market forecasts for a 0.8% increase, on the back of increasing sales of automotive products. Sales by new car dealers rose 4.4% and sales at gasoline service stations rose 1.5%. Excluding autos and parts, core sales fell 0.4%, disappointing the market…
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