The University of Michigan consumer sentiment survey rose to 68.7 in May from 65.1 in April. The data is helping ease the sting of the poor Chicago PMI report. ERU/USD has stabilized at 1.4095. Offers remain in the 1.4135/50 region, … Continue reading
Chicago PMI came in below expectations at 34.9 in May, well below expectations of 42.0 and a drop from April’s 40.1 EUR/USD has pulled back to 1.4080 on the news with a modest uptick in risk aversion seen. 1.4050 is … Continue reading
Happy days are here again in the Big Apple. NYC business conditions rose to 61.3 from 28.3. That is the biggest rise since Feb 2002, in the wake of the 9/11 attacks. EUR/USD is firmer, at 1.4120 as risk assumption … Continue reading
US Q1 GDP war revised modestly higher, but not as much as the market had expected. The revision was to -5.7% from the 6.1% reported last month. Economists had expected a revision to 5.5%. The market is not to concerned … Continue reading
He has his detractors but Nouriel Roubini is still on the high ground after predicting much of the trouble which the financial market finds itself in. He thinks the US economy may experience another dip next year but he is not siding … Continue reading
The struggling auto industry is no doubt a contributor to the downtick in the Chicago Fed midwest manufacturing index. It dropped to 81.0 in April from 81.8 in March.
Geithner expects to talk about recovery prospects with the Chinese and additional measures that can be taken to to reinforce the recovery, a Treasury spokesman says. Yuan flexibility and improving domestic demand are on the docket more balanced Chinese growth … Continue reading
US April single-family home sales have come in at 352k unit rate vs 351k in March, below the median forecast of 360k. The April single home sales rate saw a +0.3% increase, compared to -3.0% in March. Meanwhile the Mortgage Bankers … Continue reading
Jobless claims dropped to 623k and durable goods rose 1.9%, far more than expected. A big downward revision to the previous durables number essential offsets this months rise. At the headline level though, it’s all good.
Jobless claims are seen steady at 630k at 12:30 GMT Durable goods orders are expected to rise 0.4% at 12:30 GMT New Home sales are expected to rise 1.1% at 14:00 GMT KC Fed survey at 15:00 GMT Chicago Fed … Continue reading