Archive for June, 2008
Retail Sales Prop the Dollar
The greenback extended its gains versus the majors, rallying above the 108-level against the yen and 1.5380 versus the euro. The main catalyst for today’s move was a larger than expected improvement in May retail sales, with the headline reading improving by 1.0%, exceeding calls for a 0.5% increase from…
Read More …
[…]
Will Rising Consumer Prices Send EURUSD Below Support?
The May U.S. inflation report will garner extra focus given the current environment of rising energy and commodity costs. The growing concerns over global inflation has heightened to the point that the leaders of the major central banks have all expressed concerns and have hinted at possible rate hikes. Oil…
Read More …
[…]
Retail Sales: Tax Rebates Starting to Work in May
Retail sales rose 1.0 percent in May, well above expectations. Excluding motor vehicles and gas stations, sales rose 1.0 percent with an upward revision to April. There were broad based gains indicating tax rebate checks are beginning to work.
Read More …
Sphere: Related Content
Business Inventories up 0.5 Percent in April
Business inventories were slightly larger than expected in April led by increases at the wholesale and retail level; manufacturing inventories were flat for the month. Sales were up 1.4 percent led by a 2.2 percent sales increase in manufacturing, suggesting that businesses will keep production levels steady
Read More …
[…]
U.S. Market Update
The USD has maintained a firm tone throughout the European and US session. Dealers are noting several possible factors contributing to the dollar’s strength, including the Irish vote on the EU Lisbon Treaty, despite the fact that the results of the referendum will not been known until Friday. Dealers are…
Read More …
[…]
Forex Fundamental Outlook
The common currency gave back all of yesterday’s gains as traders reacted to stronger-than-expected U.S. May import prices data that saw overall import prices rise 2.3% with April’s and March’s tallies upwardly revised to 2.4% and 3.0%, respectively. May overall import prices were up 17.8% y/y and May ex-petroleum import…
Read More …
[…]
U.S. Retail Sales Unexpectedly Strong in May
U.S. retail sales rose for the third straight month, advancing by a strong +1.0% M/M in May, following the upwardly revised 0.4% M/M (previously reported as -0.2% M/M) increase in April. A major driver of this surge in spending may have been the fiscal stimulus cheques that are now arriving…
Read More …
[…]
More Inflation AND Sales
The data released from the US showed that inflation remains high but spending has picked up which is good as now more speculations for a rate hike this year will be witnessed supporting the hawkish stance seen lately by the Feds!! US released its Import Price Index for May coming…
Read More …
[…]
Retail Sales Battle vs Jobless Claims & Lehman
Stronger than expected increase in US retail sales diverges with escalating weekly jobless claims and news of embattled Lehman CFO & COO being ousted and a subsequent 9% decline in the company’s shares may. US retail sales jumped 1.0% in May, twice greater than expectations, following a sharp upward revision…
Read More …
[…]
Tax Rebate Cheques Weigh in - U.S. Retail Sales Surge
U.S. retail sales came in stronger than anticipated in May, rising 1%, double market expectations. The good news went even further back as growth in April sales were revised higher to 0.4% from an originally reported -0.2%. Excluding the usually volatile auto component, sales rose 1.2% (also double market expectations)….
Read More …
[…]
