Forex Update: After Poor PPI and Retail Sales USD Stable, Euro Loses Ground Largely
Wednesday, April 15, 2009
USD’s upturn is still in progress in early US session despite release of worse than predicted retail sales and PPI inflation report. Today’s centre of the market is in Euro that fails to maintain yesterday’s rebound and is sold off largely. As per the recent Forex updates, EUR/GBP jumped through 0.89 levels in European session. EUR/CAD is turned down to 1.6051 as CAD points higher following oil’s rebound to more than 50. EUR/AUD also dropped to 1.8173 and remains in pressured. The JPY is against USD and Euro but is bounded in tight range against GBP.
Headline retail sales in US suddenly fell down to -1.1% in March, much poorer than belief of 0.3% gain, although previous month’s -0.1% drop was improved up to 0.3%. Ex-auto sales fell down to-0.9% mom against consensus of 0.0%, with which February’s data was improved from 0.7% to 1.0%. Headline PPI fell down to-1.2% against expectation of 0.0% and prolong yoy rate sharply turned down from -1.3% to -3.5%. In March core PPI was moved down as yoy rate was down from 4.0% to 3.8%.
Headline retail sales in US suddenly fell down to -1.1% in March, much poorer than belief of 0.3% gain, although previous month’s -0.1% drop was improved up to 0.3%. Ex-auto sales fell down to-0.9% mom against consensus of 0.0%, with which February’s data was improved from 0.7% to 1.0%. Headline PPI fell down to-1.2% against expectation of 0.0% and prolong yoy rate sharply turned down from -1.3% to -3.5%. In March core PPI was moved down as yoy rate was down from 4.0% to 3.8%.
0 comments:
Post a Comment