A sustained acceleration in worker pay has remained elusive even as companies keep adding jobs at a solid pace, and political uncertainty may be restraining confidence. At the same time, still-cheap fuel costs and improving employment prospects will help underpin consumer spending, which accounts for about 70 percent of the economy. “It is likely that the uncertainty surrounding the presidential election had a negative impact, especially on low-income consumers, and without that added uncertainty, the confidence measures may not have weakened,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
Euro is currently being traded around 1.0980 level, Sterling is at 1.22 handle, while Aussie is around 0.76 area.
Last modified on Saturday, 15 October 2016
