U.S. Consumer purchase up by 0.5%
Consumer purchases climbed in January by the most in eight months, fueled by faster earnings growth and indicating the biggest part of the U.S. economy gained momentum at the start of 2016. The 0.5% advance followed a 0.1% gain the prior month, a Commerce Department report showed Friday. The January figure exceeded the 0.3% median forecast in a Bloomberg survey. Incomes also climbed 0.5%, more than projected. Consumer Confidence also rose from Prelim reading to 91.7.
Steady hiring, cheap gasoline, and rising home values are powering Americans’ ability to boost spending, which accounts for almost 70 percent of the economy. Households are broadening out purchases beyond big-ticket items such as cars and houses, which bodes well at a time manufacturing is weak.
Euro is currently being traded few points above 1.0950 level, Sterling is around 1.3930 handle, while Aussie is around 0.7180 area.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419