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.
Showing posts with label personal spending. Show all posts
Showing posts with label personal spending. Show all posts
Friday, 2 July 2010
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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