U.S. Consumer Confidence Dips From Upwardly Revised Level

Trading 31 déc 2019 Commentaire »

A report released by the Conference Board on Tuesday showed U.S. consumer confidence dipped from an upwardly revised level in the month of December.

The Conference Board said its consumer confidence index edged down to 126.5 in December from an upwardly revised 126.8 in November.

Economists had expected the consumer confidence index to rise to 128.2 from the 125.5 originally reported for the previous month.

"While consumers' assessment of current conditions improved, their expectations declined, driven primarily by a softening in their short-term outlook regarding jobs and financial prospects," said Lynn Franco, Director of Economic Indicators at the Conference Board.

She added, "While the economy hasn't shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020."

The report said the expectations index slid to 97.4 in December from 100.3 in November, as consumers were moderately less upbeat about the short-term outlook.

The percentage of consumers expecting business conditions to improve over the next six months inched up to 18.9 percent from 18.6 percent, while those expecting conditions will worsen fell to 9.3 percent from 11.4 percent.

The Conference Board said the outlook for the labor market was mixed, with consumers expecting more jobs in the months ahead dropping to 15.3 percent from 16.5 percent and those anticipating fewer jobs rising to 14.9 percent from 13.4 percent.

Consumers expecting an improvement in their short-term income prospects declined to 21.1 percent from 22.9 percent, while those expecting a decrease rose to 7.7 percent from 6.2 percent.

Meanwhile, the present situation index climbed to 170.0 in December from 166.6 in November, reflecting an improvement in consumers' appraisal of current-day conditions.

The percentage of consumers claiming business conditions are "good" was virtually unchanged at 38.7 percent, while those claiming conditions are "bad" decreased to 11.1 percent from 13.6 percent.

Consumers' assessment of the job market was mixed, as those saying jobs are "plentiful" rose to 47.0 percent from 44.0 percent, but those claiming jobs are "hard to get" also crept up to 13.1 percent from 12.4 percent.


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*U.S. Consumer Confidence Index Dips To 126.5 In December

Trading 31 déc 2019 Commentaire »

U.S. Consumer Confidence Index Dips To 126.5 In December


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Dollar Little Changed Following U.S. Housing Data

Trading 31 déc 2019 Commentaire »

The U.S. Federal Housing Finance Agency's house price index and S&P/Case-Shiller home price index for October have been released at 9:00 am ET Tuesday. The greenback changed little against its major counterparts after these data.

The greenback was trading at 108.51 against the yen, 0.9649 against the franc, 1.1238 against the euro and 1.3216 against the pound around 9:01 am ET.


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*S&P CoreLogic Case-Shiller 20-City Home Price Index Up 2.2% YoY In October

Trading 31 déc 2019 Commentaire »

S&P CoreLogic Case-Shiller 20-City Home Price Index Up 2.2% YoY In October


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Dollar Falls Vs Most Majors Ahead Of U.S. Housing Data

Trading 31 déc 2019 Commentaire »

At 9:00 am ET Tuesday, the U.S. Federal Housing Finance Agency's house price index and S&P/Case-Shiller home price index for October are due. Ahead of these data, the greenback traded mixed against its major counterparts. While the greenback held steady against the yen, it dropped against the rest of major counterparts.

The greenback was worth 108.50 against the yen, 0.9652 against the franc, 1.1237 against the euro and 1.3215 against the pound at 8:55 am ET.


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Dollar Lower Before New Year Break

Trading 31 déc 2019 Commentaire »

The U.S. dollar drifted lower against its major counterparts during European trading on Tuesday in thin trading at the end of the year.

Optimism over US-China trade deal and upbeat China factory activity reduced the appeal of the safe-haven currency.

The South China Morning Post reported, citing a source, that Chinese Vice Premier Liu He is set to lead a delegation to Washington this Saturday to sign the phase one trade deal with the U.S.

China has accepted the U.S. invitation for signing deal in Washington, and the Chinese delegation will remain in the U.S. for a few days until the middle of next week.

Official data showed that China factory activity expanded for a second straight month in December.

The manufacturing PMI held steady at 50.2 in December, while it was forecast to fall to 50.0.

Investors await U.S. consumer confidence index, S&P/Case-Shiller home price index and FHFA's house price index due later in the day for more direction.

The currency has been trading lower against its major opponents in the Asian session.

The greenback declined to a 4-1/2-month low of 1.1222 against the euro from Monday's closing value of 1.1199. The greenback is likely to face support around the 1.14 level.

The greenback dropped to a 2-week low of 1.3188 against the pound, compared to 1.3111 hit late New York Monday. The next possible support for the currency is seen around the 1.34 mark. The U.S. currency fell to a 4-1/2-month low of 0.9665 against the franc and near a 3-week low of 108.51 against the yen, from yesterday's closing values of 0.9694 and 108.87, respectively. If the currency drops further, it may challenge support around 0.94 against the franc and 107.00 against the yen.

The greenback that ended Monday's trading at 1.3085 against the loonie, 1.6994 against the aussie and 0.6728 against the kiwi depreciated to a 5-1/2-month low of 1.3023, more than 5-month lows of 0.7013 and 0.6741, respectively. The greenback is seen finding support around 1.29 against the loonie, 0.72 against the aussie and 0.69 against the kiwi.

Looking ahead, U.S. FHFA's house price index and S&P/Case-Shiller home price index for October and consumer sentiment index for December are due out in the New York session.


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Gold Futures Rise Again, Look Set To End The Year On High Note

Trading 31 déc 2019 Commentaire »

Gold prices are moving higher Tuesday morning, extending gains to a sixth session, as the dollar continues to trade weak against most major currencies.

Activity is a bit subdued as several stock markets in Europe are close for New Year's Eve, but gold futures are in line to record their best annual returns in about nine years.

The dollar index is down more than 0.2% at 96.53, extending recent weakness.

Gold futures for February are up $7.00, or nearly 0.5%, at $1,525.60 an ounce, after rising to $1,529.00, the highest level since the last week of September 2019.

On Monday, gold futures for February ended up $0.50 at $1,518.60 an ounce, after moving between $1513.50 and $1,519.10.

The trade dispute between the U.S. and China, geopolitical tensions and the interest rate cuts by the U.S. Federal Reserve's have all contributed to the bullion's rise this year.


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Crude Oil Futures Hold Near 3-month High

Trading 31 déc 2019 Commentaire »

Crude oil prices are moving in a tight band amid thin holiday deals Tuesday morning.

Despite a sluggish display today, oil futures look set for their biggest yearly rise in three years.

West Texas Intermediate crude oil futures for February are up marginally at $61.72 a barrel.

On Monday, WTI crude oil futures for February snapped a four-session winning streak and ended down $0.04 at $61.68 a barrel, after rising to a high of $62.34 earlier in the day.

Oil's recent uptrend is due to easing concerns about the outlook for energy demand following China and the U.S. agreeing on a trade deal. The two countries are most likely to sign the deal sometime in January.

Other significant factors that have contributed to oil's rise are the decision of OPEC and allies to deepen output cuts and extend the period of cuts to March 2020, and the ongoing political unrest in the Middle East.


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Greece Retail Sales Rise Most Since Early 2017

Trading 31 déc 2019 Commentaire »

Greece retail sales volume increased the most since February 2017, figures from the Hellenic Statistical Authority showed Tuesday.

Retail sales volume increased 7.1 percent year-on-year in October, following a 5 percent rise in September. This was the fastest expansion since February 2017, when sales grew 9.9 percent.

On a monthly basis, retail sales volume was down 0.6 percent in October, in contrast to a 1.5 percent rise in September.

Data showed that retail trade turnover decreased 0.7 percent on month in October but increased 6.6 percent from the same period last year.


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*Greece Oct Retail Sales Fall 0.6% On Month

Trading 31 déc 2019 Commentaire »

Greece Oct Retail Sales Fall 0.6% On Month


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