March British pound traded sharply higher overnight after it was reported that inflation in January doubled Bank of England’s target. UK CPI jumped to 4.0% yoy in January, doubling Bank of England’s target of 2%. Bank of England’s Governor King noted the surge in inflation and reiterated that it’s temporary, due to tax hike and… read more
Tag Archives: economic reports
Trading news – U.S. Retail Sales Rise Less Than Expected in January.
WASHINGTON, Feb 15 (Reuters) – Sales at U.S. retailers increased less than expected in January amid weak receipts at building material and restaurant outlets, a government report showed on Tuesday, likely reflecting the drag from snow storms that slammed large parts of the country during the month. Total retail sales rose 0.3 percent, the Commerce… read more
Trading News – US Jobless Claims Tumble 42,000 last week.
WASHINGTON, Feb 3 (Reuters) – New U.S. claims for unemployment benefits dropped more than expected last week, a government report showed on Thursday, pointing to continued gradual improvement in the labor market. Initial claims for state unemployment benefits tumbled 42,000 to a seasonally adjusted 415,000, the Labor Department said, unwinding most of the previous week’s… read more
Futures News – Factory sector expands at the fastest pace in 7 years!
WASHINGTON (AP) — The factory sector expanded in January at the fastest pace in seven years, as manufacturers reported a sharp jump in new orders. The Institute for Supply Management, a private trade group, says its index of manufacturing activity rose last month to 60.8. The sector has expanded for 18 straight months of expansion,… read more
Futures news – U.S. Consumer spending rises 0.7 % in December
WASHINGTON, Jan 31 (Reuters) – U.S. consumer spending rose more than expected in December to post the sixth straight month of gains as households drew down on their savings to fund purchases, government data showed on Monday. The Commerce Department said spending increased 0.7 percent after rising by 0.3 percent in November. Economists polled… read more
Futures News -Economy Grows at 3.2% Pace, Pushed Up by Sales Spike
By Reuters The U.S. economy gathered speed in the fourth quarter, though a touch below expectations, with the biggest gain in consumer spending in more than four years and strong exports offering the clearest signals yet that a sustainable recovery is under way. Even with growth quickening, however, progress reducing unemployment has been painfully slow,… read more
Futures News – December Durable goods orders fall 2.5%
WASHINGTON, Jan 27 (Reuters) – New orders for U.S. manufactured goods fell unexpectedly by 2.5 percent in December, a government report showed on Thursday. When volatile transportation orders were stripped out, durable goods orders rose 0.5 percent, the Commerce Department said, though this was a smaller rise than expected.… read more
Futures news – U.S. Jobless claims rise in latest week.
Jan 27 (Reuters) – U.S. Labor Department report of initial state jobless benefit claims, seasonally adjusted. Insured Unemployment Week Ended Initial Claims 4-Week Avg. Continued Claims rate (pct) 01/22/11 454,000 428,750 N/A N/A 01/15/11 … read more
Futures News – Dollar remains under pressure after FOMC, Durable good and Housing data up next.
Dollar remains soft against Euro after Fed statement overnight failed to upgrade economic assessment despite strong data. The euro continues to stay firm above around 1.37 level as supported by comments from Trichet on inflation. Nevertheless, the greenback is staying in tight range against other major currencies as some support was provided from the rebound… read more
Futures News – US New Home sales Surge in December!
NEW YORK, Jan 26 (Reuters) – New U.S. single-family home sales in December rose to their highest level in eight months and prices were the highest since April 2008, raising cautious optimism for a housing market recovery. KEY POINTS: * The Commerce Department said sales jumped 17.5 percent to a seasonally adjusted 329,000 unit annual rate after a… read more