Caution reigns

24 November, 2015

Investors remain cautious during this shortened trading week for the US markets as we near Thanksgiving celebrations and a week that is usually known for low trading volumes. Whilst this marks the build up to the festive season, markets are still shrouded by concerns over security in some of Europe’s major cities and at the same time focus remains on US data which disappointed a little yesterday with a lower than expected manufacturing PMI and new home sales. Meanwhile US Treasury 2 year yields continue to rise indicating heightened chances of a rate hike from the Fed in three weeks time.

Today’s thin economic calendar sees the second estimate of US GDP released at 13.30 GMT and then consumer confidence expected to rise to 99.5 from 97.6 which could be dollar supportive if this recoups the 100.0 level, but it will be interesting to see if the terror attacks in Paris have had a knock effect for consumers across the pond. Before then there is the German IFO data at 9.00 GMT which is expected to dip a little and could move EURUSD lower to test the 1.0600 level again.


Source link  
USD Suffers on Subpoena News

The Trump Administration is back in the spotlight with news of a report that Special counsel Robert Mueller’s investigators have issued a subpoena...

Positive data negated by tax plan opposition

The US Labor Department released data on Wednesday showing the consumer price index edged up by 0.1% in October after climbing by 0.5%...

Data Boosts EUR Can CPI Boost USD?

EUR received a boost on Tuesday, as data from Destatis showed German Preliminary GDP climbed to 0.8% in Q3, beating forecasts of 0.6%. In addition...


Chinese Data Disappoints

China’s economy has been robust throughout 2017 as a continued recovery in manufacturing and industrial sectors, a healthy property market...

Data & Polls Pressure Sterling

Sterling suffered downward pressure on Tuesday as the latest monthly report from the British Retail Consortium showed non-food sales slumping...

Closing the Year on a Strong Note

Data released on Monday indicates that the Eurozone economy is on target to close out 2017 strongly. The latest Markit composite PMI fell...


Sterling Falls on Rate Rise

In line with market expectations, the Bank of England raised the UK base rate to 0.5% (from 0.25%) on Thursday. The rise, the first in 10 years, was widely...

Another Political Headache for Trump

USD gave up some of its recent gains on news that investigators had charged President Trump’s former campaign manager regarding...

US Jobless Claims Lowest Since 1973

US Department of Labor released Initial Jobless Claims for the week ending October 13th that showed a resilient and stable labor market...

  


Share: