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15 Okt 2007: Heading for the G7
The US dollar tried to rise on the better than expected US retail sales number (+0.6% M/M and +5% Y/Y in September), but this rebound from 1.4180 to the 1.4160 zone was blocked off soon enough. Apparently, ECB’s Constancio had said that the large US current account deficit would block a large decline of the euro. ...
15 Okt 2007: US: The consumer is not death, long live the consumer
Retail sales rose by 0.6% M/M and 5% Y/Y in September, following a 0.3% M/M and 3.8% Y/Y in August. Excluding the volatile cars, sales were up 0.4% M/M and 5.1% Y/Y, following a 0.4% M/M drop and a 3.8% Y/Y gain in August. ...
15 Okt 2007: EURUSD: Stuck between a rock and a hard place
As luck would have it, both good and bad news hurts the USD these days. Any indication that the US housing recession is hurting US consumers causes the markets sell the USD because of the risk of recession and lower expected yields. ...
15 Okt 2007: UK gilts flat at start of busy data week
British gilts were little changed in early trade on Monday, steadying after their sharp fall last week as the market awaited a busy week on the economic data front.
At 0825 GMT, the December gilt future was trading at 106.22, down two ticks. ...
11 Okt 2007: The US dollar continued its slide against the Euro
The US dollar continued its slide against the Euro, but garnered some strength against the yen as the market looks towards an additional Fed rate cut by year end. Even with the release of Fed minutes indicating that rates will remain on hold in October; expectations are for a further cut by 25 basis points to 4.50 percent by December. ...