Global News and Fundamentals
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USD: Good Retail Sales, But Oil Concerns Linger
Fri, Jun 13 2008, 01:20 GMT
by Andrei Pehar
Next fundamental news will be commented on 26th June
Retail sales came in better than expected today, posting an
increase of 1.0% - double the figure analysts were expecting, and a 0.6%
increase over the prior month. Core retail sales (which excludes autos)
came in at 1.2%, with the prior month being revised up to 1.0%; analysts had
been expecting only a slight gain of 0.7%.
The positive news caused a momentary Dollar rally, causing the EUR/USD to drop
by nearly 40 pips. The optimism was short-lived, however, and the EUR/USD
resumed its climb just minutes later. Oil remains the primary concern...
currently at $136.56 and just below its all-time high, with fear of further
supply disruptions in the Nigerian delta and declining US crude oil
inventories, dropping by 4.6 million barrels for the second month in a row.
Published on Wed, Jun 18 2008, 09:52 GMT
Archive
- US Housing and EU Manufacturing
Published On Tue, Jun 23 2009, 15:16 GMT - US Posts Lowest Consumer Confidence on Record
Published On Tue, Feb 24 2009, 15:28 GMT - Obama Names Next Treasury Secretary
Published On Fri, Nov 21 2008, 21:24 GMT - Industry, Consumers Feel Pinch as Dow Slips Further
Published On Thu, Oct 16 2008, 20:32 GMT - US Senate Passes Bailout Bill - Markets Unimpressed
Published On Thu, Oct 2 2008, 03:55 GMT
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