EUR/USD declined today as the data shows the improvements in the U.S. economy, while the Europe is still troubled with the budget deficit problem. The increase of the personal income and the growth in the manufacturing sector show the robust economic recovery, while the huge jump in construction spending further supports the optimistic outlook for the U.S. economy. EUR/USD is currently trading near 1.3202 level.
U.S. personal income rose by 0.3% in March. That’s a step up compared to the February revised increase of 0.1%, yet is still lower than the level of 0.4% the analysts expected.
ISM PMI index rose to 60.4 in April from 59.6 in March. The manufacturing sector was growing for the nine consecutive months with the fastest pace since June 2004. The forecast for this month was 60.0.
Total construction spending increased 0.2% in March from February, which is better than estimated -0.4% rate and significantly better than previous -2.1% rate, revised from -1.3%.
Showing posts with label personal income. Show all posts
Showing posts with label personal income. Show all posts
Friday, 2 July 2010
Volatile Moves of EUR/USD Caused by Bad News for Euro & Dollar
EUR/USD currency pair experiences volatility today as both the dollar and the euro encountered some hardship. The euro was weakened by speculation that Germany may ban naked short selling of some securities permanently. In the same time, the dollar was harmed by reports, which showed slowdown of the U.S. economic growth. EUR/USD trades currently at 1.2364, near its opening level.
U.S. personal income increased 0.4% in April, the same pace as in March. Increase by 0.5% was expected. Personal spending less than 0.1% in April, compared with the 0.6% increase in March. Traders expected growth by 0.3%.
Chicago PMI index declined to 59.7 in May from 63.8 the last month. Forecast promised drop to only 62.1
University of Michigan Index of Consumer Sentiment rose to 73.6 in May from 72.2 in April. This reading is slightly higher than experts’ forecast of 73.4.
U.S. personal income increased 0.4% in April, the same pace as in March. Increase by 0.5% was expected. Personal spending less than 0.1% in April, compared with the 0.6% increase in March. Traders expected growth by 0.3%.
Chicago PMI index declined to 59.7 in May from 63.8 the last month. Forecast promised drop to only 62.1
University of Michigan Index of Consumer Sentiment rose to 73.6 in May from 72.2 in April. This reading is slightly higher than experts’ forecast of 73.4.
EUR/USD Fall, but U.S. Consumer Confidence Threatens Dollar
EUR/USD currency pair dropped for a second day after yesterday’s report about growth of personal spending and income in the U.S. The home price index also brought good news, doubly welcome news from very bearish market. Astounding slump in consumer confidence, though, threatens to erase any positive effect, which the good news brought. EUR/USD trades currently at 1.2152.
S&P/Case-Shiller home price index rose in month-to-month comparison in April from 145.81 to 146.45. Compared to April 2009 it rose by 3.86%.
Consumer confidence posted an tremendous and surprising slump to 52.9. This reading is nowhere near the previous value of 62.7 and the expected 62.8. The previous troubling signs of economy’s weakness at last showed their impact on sentiment of consumers.
Yesterday, a report on personal income and personal spending was released. Personal income the U.S. increased 0.4% in May after increasing at the revised rate of 0.5% in April. Personal spending rose by 0.2% in May, compared to the 0.0% growth in the month earlier. Median forecast for income was 0.5% and for spending 0.1%
S&P/Case-Shiller home price index rose in month-to-month comparison in April from 145.81 to 146.45. Compared to April 2009 it rose by 3.86%.
Consumer confidence posted an tremendous and surprising slump to 52.9. This reading is nowhere near the previous value of 62.7 and the expected 62.8. The previous troubling signs of economy’s weakness at last showed their impact on sentiment of consumers.
Yesterday, a report on personal income and personal spending was released. Personal income the U.S. increased 0.4% in May after increasing at the revised rate of 0.5% in April. Personal spending rose by 0.2% in May, compared to the 0.0% growth in the month earlier. Median forecast for income was 0.5% and for spending 0.1%
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