Critical News This Week from US
Sun, Apr 27 2008, 23:10 GMT
by Andrei Pehar
Last week in the United States saw an increase in durable good orders and a decrease in unemployment claims, however further signs of trouble in the housing market due to a slump in new home sales and overall home values.
The reports due out this week will be key for determining the future direction of the US Dollar against some of the other currencies. It has made somewhat of a comeback the prior week, but it will need strong numbers in order to maintain it.
On Tuesday we have consumer confidence, which is expected to drop from 64.5 to 61.5. On Wednesday the FOMC is announce its fed funds rate decision, where most analysts are anticipating another 25 point cut to 2.0%. On Thursday we get personal spending, jobless claims, and ISM manufacturing, and on Friday comes the month's biggest report, the non-farm payrolls, which is widely expected to come in the same as the previous month, a decline of approximately 80,000 jobs.
