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Labor Market ConditionsTitle:
Optimism is the main sentiment ruling this week in the superpower
So far it is officially stated that the superpower is undergoing a successful moderate recovery path as attested this week by the FOMC members along with further cheerful and better-than-forecasted data released regarding the labor, manufacturing and overall business conditions along with once again well subdued prices pressures, yet other data released were mixed.
If truth be told this week the FOMC minutes meeting, participants have attested once again that the overall economic conditions of the world's largest economy gained momentum within this recent period; the overall recovery tempo is on a right gradual and constant pace with better labor conditions along with a stable enhanced demand while that prices pressures remain, nevertheless rates will stay exceptionally low at least ...
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The Weekly Bottom Line : 16/03/2012
The Weekly Bottom Line : 16/03/2012
HIGHLIGHTS OF THE WEEK
United States
Market participants are clearly trading on what everyone else seems to be feeling: the recovery is back.
But the Fed, for its part, is not yet willing to admit that the economy has entered a new, stronger phase. Though the quickening pace of job growth is a positive sign, disposable income growth is still stagnant, and the recent run-up in commodity prices threatens to erode consumer spending growth. Europe's troubles haven't gone away.
If market sentiment get's too far ahead of itself, the Fed may be tempted to fight back with another round of asset purchases. But if rising borrowing costs are a product of a stronger recovery then the Fed should be less concerned. Increased spreads may actually be ...
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Weekly Economic and Financial Commentary : 16/03/2012
Weekly Economic and Financial Commentary
U.S. Review
“March Happiness” Tempered by Late Week Reports
As March Mayhem arrives in the sports world, investors found much to be happy about with many of this week's economic releases. Retail sales improved for the second straight month thanks to a stronger labor market, rising consumer confidence and unseasonably warm weather across much of the country. Regional manufacturing indices also improved, while import and producer price growth slowed. However, Friday's reports tempered the enthusiasm as industrial production was unchanged, rising gas prices led to the biggest increase in consumer prices in 10 months, and consumer sentiment slipped.
Signs of a Consumer Rebound
Following a weak end to 2011, retail sales have bounced back, rising 0.6 ...
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Shift in FX Drivers May Provide Support for the USD
The Week Ahead
Highlights
Shift in FX drivers may provide support for the USD
Budget D-day for Osborne
The ECB's tough talk
Shift in FX drivers may provide support for the USD
This week U.S. Treasury yields broke out of their ranges and rocketed higher. 10-year yields rose nearly 28bps since Monday and advanced above the 200-day sma for the first time since July to reach current levels of around 2.31%. U.S. equity markets rallied significantly as well this week with the S&P 500 closing above 1400 for the first time since 2008 while the Dow Jones Industrial Average traded at levels that have not been seen since 2007. At the same time, the USD gained against its major counterparts most notably against the Japanese yen. This may be the start of a significant shift in FX ...
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S&P ends over 1,400 for first time since 2008 credit crisis
(Reuters) - The S&P 500 closed above 1,400 for the first time since the 2008 financial crisis on Thursday as stocks resumed the upward climb that has produced a steady stream of gains this year.
The benchmark index is up for six of the past seven sessions and is on target for its best week since early February. Financial stocks .GSPF, which have dragged lately, led the day with the S&P sector index up 1.9 percent as another round of better-than-expected economic data bolstered investors' enthusiasm.
"The data is lifting us today, but so is the momentum of the market," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia, which manages about $60 billion.
"People are getting more comfortable with the S&P above 1,400 and financials leading, which by itself is ...
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Jobless claims fall, manufacturing holds up
Economic growth showed signs of becoming more self-sustaining as the number of Americans claiming new jobless benefits fell back to a four-year low last week and manufacturing activity in the Northeast picked up this month.
But the impact of higher oil prices was also starting to be seen in data on Thursday. Producer prices racked up their biggest increase in five months in February, while manufacturers in New York state reported a surge in input costs in March.
The recent gains in oil and gasoline prices have raised concerns the higher costs could start to squeeze businesses and consumers and put a dent in the recovery.
Still, producer prices last month did not rise as much as economists had expected, and underlying inflation pressures were contained.
Thursday's initial claims data ...
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Dukascopy Afternnon Forex Overview : 15/03/2012
Dukascopy Fundamental Analysis
EUR
European vehicle sales plunged in February driven by Peugeot Citroen, Fiat and Renault as region's consumers suspended large scale purchases amid economic uncertainty. February registrations dropped 9.2% on annual basis to 923,381 million cars, the fifth straight monthly drop. Deliveries in France tumbled 20% whereas sales in Italy plummeted 19%. BMW and Toyota forecast a 5% decline in Europe region for 2012.
USD
Analysts predict that Apple share price may climb even 19% or above USD 700 a share on the issue of new iPAD. Morgan Stanley's analyst Katy Huberty already has increased company's stock price tagets above USD 700. The mean price target among analysts questioned by Bloomberg equals USD 605. Apple rallied 3.8% to USD 589.58 on Wednesday trade ...
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Dollar backs-off slightly amid strong U.S data
Some meaty data were released from the U.S today, starting from the inflation figures in the form of the producer price index which inclined to 0.4% from 0.1% last month hinting upside inflationary pressure could be building up; anyhow the number was below market expectations of a 0.5% rise. On the employment front, unemployment claims showed people signing for jobless benefits declined 14,000 last week, hinting the labor market conditions continue to improve however amid rising in prices.
Finally the Philadelphia Fed Index showed manufacturing activities within the district expanded more than expected printing 12.5 instead of the 11.9 estimated reading.
Figures confirm the U.S economy may be ahead; leading its global counterparts, decreasing the possibilities of a new stimulus and ...
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The US empire manufacturing rose cheerfully while that the jobless claims plunged
As already expected today's manufacturing and labor data came out cheerful and better than projected confirming this week's FOMC members testimony of a present successful moderate recovery of the superpower throughout most of its sectors activities while that once again prices pressures remain well subdued as already predicted by the Fed.
Accordingly we watch today's empire manufacturing rose cheerfully and unexpectedly to 20.21; the fasted pace since June 2010, which is of course higher and better than the market forecasted reading of 17.50 and prior reading of 19.53, confirming clearly that manufacturing and overall business conditions continue on supporting growth and helping the revival of the country to stay on track with better production levels that are also facing a constant ...
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