Economic data presents a mixed picture of the U.S. economy
On Monday, the U.S. Census Bureau announced advance estimates of U.S. retail and food services sales for September that sharply exceeded expectations. U.S. retail spending jumped to 412.9 Billion Dollars, an increase of 1.1% from the previous month and 54% above September 2011. The Commerce Department also revised sales figures for July and August to show somewhat higher spending. August retail sales climbed 1.2% from the 0.9% previously reported and the increase in July...
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Fundamental Analysis
Spanish Uncertainty and Global Growth Worries May Limit Appeal of Riskier Assets
October 12, 2012 - 14:24
Signs of improvement in the US labor market
According to government data released by the Labor Department on Thursday, jobless claims for the week ending October 6 dropped sharply to the lowest level in more than four years. The initial claims for unemployment benefits dropped sharply to 339,000, a surprisingly large 30,000 drop from the previous week's revised figure of 369,000. Economists had expected initial claims to rise 1,000 to a seasonally adjusted 368,000. Meanwhile, the 4-week moving average of new claims also dropped 11,...
US Dollar May Continue Finding Safe-Haven Support - 11/10/2012
October 11, 2012 - 14:24
S&P cuts Spain’s debt rating
On Wednesday, rating agency Standard and Poor's downgraded Spain's long-term credit rating by two notches from BBB+ to BBB-, just one notch above junk status and assigned a negative outlook. The decision to downgrade was based on mounting concerns over the deepening of Spain's economic recession and less effective government policy decisions to spur growth.
IMF downgrades global growth estimates
The Spanish downgrade comes after warnings about the lackluster world economic...
Investors Shift Focus to Market Moving Non-Farm Payrolls Data
October 05, 2012 - 14:45
Central Banks Leave Monetary Policy Unchanged
In the shadow of an eventful meeting in September when ECB announced its unlimited sovereign bond-buying program known as outright monetary transactions or OMTs, the European Central Bank on Thursday left its key lending rate unchanged at 0.75% and kept further monetary easing measures on hold, as had been widely expected. At his monthly news conference ECB President Mario Draghi restated the Euro currency as "irreversible".
Also on Thursday, the Bank of England kept its...
Investors Await ECB Rate Decision and Fresh US Economic Data
October 04, 2012 - 14:10
US Economic Reports Eased Fears
A batch of better than expected economic reports from the US counter-balanced some recent disappointments coming from Europe and China. US data on Wednesday showed growth in private sector jobs and growth in services sector accelerating in September.
According to the latest ADP National Employment Report released on Wednesday, the US economy added 162,000 private-sector jobs from August to September. But the prior two months of job growth were revised lower. The July increase was reduced by 17,...
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