US data provided inspiration, brace for more today - Rabobank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Piotr Matys, EM FX Strategist at Rabobank, notes that a fresh set of US data published on Tuesday provided the market with some inspiration.

    Key Quotes

    “According the final estimate of Q3 GDP growth, the US economy expanded by 2.0% at an annualised rate on the back of consumer spending. The downside revision from the previous estimate of 2.1% was less than a 0.2% anticipated by the market.”

    “Existing home sales surprised on the negative side plunging to 4.76mn in November (the lowest since April 2014) from 5.32mn in October. However, the 10.5% m/m fall may have been caused by new regulations (Know Before You Owe) rather than a sudden drop in demand, Financial Times reported.”

    “Today, we will be flooded by US indicators including personal income and spending (seen at 0.2% and 0.3% respectively in November); notoriously volatile durable goods orders (expected to fall 0.6% in November, but flat excluding transportation); new home sales (forecasted to rise by 2.0% m/m to 505k in November) and the final reading of the University of Michigan’s Consumer Sentiment Index (anticipated to edged marginally higher to 92 from the preliminary 91.8.”
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