{"id":297,"date":"2010-12-15T10:40:15","date_gmt":"2010-12-15T10:40:15","guid":{"rendered":"http:\/\/www.mycurrencytransfer.com\/blog\/?p=297"},"modified":"2010-12-16T12:09:45","modified_gmt":"2010-12-16T12:09:45","slug":"rationalfx-retail-sales-in-the-us-come-out-better-than-expected-15122010","status":"publish","type":"post","link":"https:\/\/www.mycurrencytransfer.com\/blog\/rationalfx-retail-sales-in-the-us-come-out-better-than-expected-15122010\/","title":{"rendered":"RationalFX: Retail sales in the US come out better than expected [15\/12\/2010]"},"content":{"rendered":"<div><span style=\"color: #000000; font-family: Arial;\">Since the Fed announced QE2 there has been a trend of selling off the dollar, this was initially suspended by the problems in the Ireland and it has now definitely halted with all eyes firmly on the Eurozone as the problem area. Moody is now reviewing Spain\u2019s debt rating and could be downgraded. The shared currency slumped early today as it became clear Spain would need to raise \u20ac170bn in 2011. As we look towards the New Year it seems to be increasingly more apparent that the Euro will have a tough 2011 especially with Germany now getting fed up with footing the bill.<\/span><\/div>\n<p><strong>Yesterday\u2019s Market Movers<\/strong><\/p>\n<ul>\n<li>In the UK yesterday CPI was released, this is a measure of inflation. This was expected to remain the same both YoY and MoM but both increased 0.1%. These figures saw GBP\/EUR strengthen slightly as it shows that we are still spending. Even though we are still well above the key 2% level this is not too bad as it is still widely expected, and reiterated by the BOE,\u00a0 to come down naturally by mid 2011.<\/li>\n<li>The Retail Price Index in the UK was also expected to come out flat both MoM and YoY in the UK yesterday. Again speculation didn\u2019t prevail with both figures coming out better than expected with MoM increasing to 0.4% from 0.2% and YoY coming out at 4.7% from a previous figure of 4.5%.<\/li>\n<li>In the Euro zone yesterday we saw the release of the Industrial Production figures which were expected to come in better than previous, showing potential to strengthen the Euro. This went the other way and came out worse with MoM figures dropping by over half a percent and YoY doing the same.<\/li>\n<li>The ZEW survey came out in better than expected in Germany yesterday and although a muted response at first we did see a brief trend of euro strength later in the day.<\/li>\n<li>It was a busy day in the US yesterday; \u00a0PPI which was expected to come in slightly better than previous figure came out as expected at 0.8%<\/li>\n<li>Retail sales in the US yesterday were expected to come out worse MoM however it came out better than expected rising 0.2% but still a fraction off of last month\u2019s figure even though \u2018Black Friday\u2019 was the biggest on record. Although this still came in worse than last month this still gave support to the USD which rose against 16 counterparts yesterday.<\/li>\n<li>The Federal Interest Rate decision was a very important release of data yesterday, the expectation was to stay the same as previous at 0.25% and it remained the same.<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\"><span style=\"color: #000000; font-family: Arial;\">Today\u2019s Market Movers<\/span><\/span><\/strong><\/p>\n<p><span style=\"color: #000000;\"> <\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; font-family: Arial;\">A busy day in the UK today sees ILO Unemployment Rate with an expected figure of 7.7% from the same previous figure. A better figure could be seen as bearish on sterling as people will be spending less due to lack of jobs.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: Arial;\">Also in the UK we have the Claimant Count which is the statistics of how many people are unemployed within the country. This is expected to stay the same as the previous figure of 4.5%; a higher figure released would be seen as negative and a lower figure bullish.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: Arial;\">UK jobless claims are out\u00a09.30\u00a0with an expected figure of -3.0K from a previous -3.7K. With a lower figure than expected seen as positive as it shows less people are unemployed with the UK itself; a higher reading will be judged as negative for the economy.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: Arial;\">In the Eurozone today the only relevant data out is the \u2018Employment Change\u2019 across the board QoQ with an expected figure 0.2% from a previous 0% flat.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: Arial;\">Angela Merkel today will lay out Germany\u2019s position to increasing the emergency fund in an 11am meeting with Parliament. Germany has already stiffened its position and if this is riterated we will see further Euro weakness on a day when Spain is in the spotlight as well.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: Arial;\">In the US today we have a lot of data released including the CPI with an expected figure of 0.2% MoM to remain the same and year on year to decrease 0.1% to a figure of 1.1%.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: Arial;\">The final piece of data worth noting in the US is the Industrial Production released\u00a0at 14.15\u00a0with a figure expected at 0.3% from a previous figure of 0% flat.<\/span><\/li>\n<\/ul>\n<div>\n<table style=\"border-collapse: collapse;\" border=\"1\" cellspacing=\"0\" cellpadding=\"3\" width=\"40%\" bordercolor=\"#000000\">\n<tbody>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> <\/span><span style=\"color: #000000; font-family: Arial;\">Currencies<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> High<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> Low<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> Support<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> Resistance<\/span><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> GBP\/EUR<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\">1.1868<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.1758\u00a0<br \/><\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\">1.1764<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\">1.1904<\/span><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> GBP\/USD<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.5911<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.5737<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.5700<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\">1.5900<\/span><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> EUR\/USD<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.3498<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.3362<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\"> 1.3300<\/span><\/div>\n<\/td>\n<td width=\"20%\" valign=\"top\">\n<div><span style=\"color: #000000; font-family: Arial;\">1.3500<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div><span style=\"color: #000000; font-family: Arial;\"> <\/span><\/div>\n<div><span style=\"color: #000000; font-family: Arial;\"><span style=\"font-family: Arial;\">We wish you a very nice day.<\/span><\/span><\/div>\n<div><span style=\"color: #000000; font-family: Arial;\"><span style=\"font-family: Arial;\"><\/p>\n<div><a href=\"http:\/\/www.rationalfx.com\/\" title=\"Request a FREE no obligation quote from RationalFX\">The RationalFX Team<\/a><\/div>\n<p><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Since the Fed announced QE2 there has been a trend of selling off the dollar, this was initially suspended by the problems in the Ireland and it has now definitely halted with all eyes firmly on the Eurozone as the problem area. Moody is now reviewing Spain\u2019s debt rating and could be downgraded. The shared currency slumped early today as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,27,24],"tags":[52],"_links":{"self":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/297"}],"collection":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/comments?post=297"}],"version-history":[{"count":11,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/297\/revisions"}],"predecessor-version":[{"id":333,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/posts\/297\/revisions\/333"}],"wp:attachment":[{"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/media?parent=297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/categories?post=297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mycurrencytransfer.com\/blog\/wp-json\/wp\/v2\/tags?post=297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}