USD
Event risk: Mixed messages from the chain-store data but broad recessionary conditions and 4 consecutive falls in retail jobs suggest downside risk to consensus calling for a 0.2% rise in core retail sales (Mon). The ECRI leading index hints at still more potential downside for the Empire survey (Tue) and Philly (Thur). A 7%+ [...]
Event Risks for FX markets
April 10th, 2008 · No Comments
Tags: FOREX Market Commentary
The USD hovers near record lows versus major currencies
March 29th, 2008 · No Comments
The USD hovers near record lows versus major currencies, with little prospect for near term improvement. While recent Fed actions may help to stabilize financial system concerns, there are increasing signs of US economic weakening. The Chicago Fed National Activity Index has fallen to levels normally associated with recession, and additional FOMC easing
is likely to push [...]
Tags: FOREX Market Update
Surprising Resilience Gives BoE A Little Breathing Space
March 23rd, 2008 · No Comments
The UK economy continues to display surprising resilience to the US slowdown and the global credit crunch giving the Bank of England (BoE) greater leeway to separate its monetary policy response to moderating growth from its actions to provide liquidity to stressed financial markets.
Retail sales surged 1.0% mom in February despite expectations for a modest [...]
Tags: UK