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15 Oct 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 Oct 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. ...
11 Oct 2007: Federal Funds Rate Cut is Certain, Timing is Uncertain in Uncertain Environment
The Fed is expected to ease monetary policy in the months ahead but the timing is not certain. According to President Yellen the September 18 FOMC decision to lower the federal funds rate 50 basis points was “a forward-looking and preemptive approach to policy. ...
11 Oct 2007: Yen Touches 8−Week Low
In NY trading Wednesday, the dollar fell versus key currencies but traded near an 8-week high against the yen. The Federal Reserve’s September minutes released yesterday reduced the odds of an October Fed interest-rate cut to 36% from about 50% prior to the release of the minutes. ...
11 Oct 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. ...