The U.S. dollar lowered on U.S consumer sentiment report, which came out weaker than expected
Asian and European trading sessions:
U.S. Dollar: The little support for the dollar had a statement of the head of the IMF, Christine Lagarde, who expressed the fund’s readiness to improve of the prognosis of the U.S. economy in 2014. Ms. Lagarde noted that strengthening of the U.S. economy’s growth will definitely lead to further improve the business climate in the next year.
Swiss franc: The Swiss franc rose against the U.S. dollar, which was helped by the publication of data, which were presented earlier today UBS. It showed that the rate of consumer activity in Switzerland rose last month, as the Christmas shopping period lifted the mood in the retail sector. According to the report, the consumption indicator rose to 1.43 points in November, compared with 1.26 points in October. This increase was due to higher assessment of business conditions in the retail sector, although weak data on new car registrations have prevented more substantial growth, the report said. Meanwhile, it became known that the index of business conditions in the retail sector , compiled by the Institute KOF, which is one of five sub - indicators in the indicator of consumer activity UBS, rose in November to a level of 6 points compared with 1.5 points a month earlier.
American trading session:
U.S. Dollar: The U.S. dollar lowered on report for consumer sentiment in the U.S. came out a little weaker than expected. According to the report, the final index of consumer Sentiment University of Michigan and Reuters in December remained at the previous estimate of 82.5 and was against the November final value of 75.1. The economists had expected the final index of consumer sentiment in December will remain almost unchanged at 82.9. In late December, the current conditions index rose to 98.6, after earlier this month it jumped to 97.9 from November's final value of 88.0. The expectations index fell to 72.1 from 72.7 in early December. Another report showed that the indicator of national economic activity FRB Chicago has grown significantly in November, which allowed raising an average of three to nearly 2 -year high. It became known from the data, which were presented by the Federal Reserve Bank of Chicago. According to the report, the economic activity index of the Chicago Fed rose last month to a level of 0.60 points, compared with a revised downward index for October at -0.07 points (originally reported -0.18 points). Meanwhile, add that a more objective measure, namely the three-month average value rose to 0.25 points from 0.12 points in October, while reaching the highest level since February 2012. Also, the latest data from the Commerce Department showed that Americans stepped up their spending in November, which is a good season for holiday sales and a new signal that the U.S. economic recovery is gaining momentum. According to the report, the amount of personal spending rose last month by 0.5 %, compared with a revised upward index for October at 0.4 % (originally reported growth of 0.3 %). We add that the November increase was the largest since June this year. Meanwhile, we note that the recent rise has fully confirmed the average forecast of experts. The report also said that the amount of personal income rose in November by 0.2 %, after falling 0.1 % in October. According to economists, the increase should have been 0.4 %.
Canadian dollar: The Canadian dollar rose substantially against the U.S. dollar, as the focus of market participants began to gradually switch to Canadian GDP data. According to the average forecasts of experts, at the end of October, the gross domestic product rose by 0.1 %, compared with an increase of 0.3 % in the previous month. Recall that the growth rate or the excess of the actual value of the forecast is positive for the Canadian dollar. In case of significant deviation from the forecast may have a strong impact on the dynamics of the Canadian currency.
Gold: The price of gold declined on concerns about further reductions in the U.S. Fed QE3. The cost of the February gold futures dropped to $ 1191.50 per ounce on the COMEX today.
Oil: The cost of oil brand West Texas Intermediate retreated from two-month high on speculation that prices have risen unreasonably high last week. The cost of the February futures on U.S. light crude oil WTI fell to $ 98.65 a barrel on the New York Mercantile Exchange.
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