U.S. Consumer Confidence Improves More Than Expected In January

Trading 28 jan 2020 Commentaire »

Consumer confidence in the U.S. showed a notable improvement in the month of January, the Conference Board revealed in a report released on Tuesday.

The Conference Board said its consumer confidence index climbed to 131.6 in January from an upwardly revised 128.2 in December.

Economists had expected the consumer confidence index to rise to 127.8 from the 126.5 originally reported for the previous month.

"Consumer confidence increased in January, following a moderate advance in December, driven primarily by a more positive assessment of the current job market and increased optimism about future job prospects," said Lynn Franco, Senior Director, Economic Indicators, at The Conference Board.

She added, "Optimism about the labor market should continue to support confidence in the short-term and, as a result, consumers will continue driving growth and prevent the economy from slowing in early 2020."

Reflecting the improvement in consumers' assessment of current conditions, the present situation index jumped to 175.3 in January from 170.5 in December.

Consumers claiming business conditions are "good" inched up to 40.8 percent from 39.0 percent, while those claiming business conditions are "bad" edged down to 10.4 percent from 11.0 percent.

The Conference Board said consumers' appraisal of the job market also improved, with those saying jobs are "plentiful" rising to 49.0 percent from 46.5 percent and those claiming jobs are "hard to get" falling to 11.6 percent from 13.0 percent.

The expectations index also rose to 102.5 in January from 100.0 in December, as consumers were also more optimistic about the short-term outlook.

The percentage of consumers expecting business conditions will improve over the next six months was virtually unchanged at 18.8 percent, while those expecting conditions will worsen dipped to 8.4 percent from 8.8 percent.

Consumers expecting more jobs in the months ahead increased to 17.2 percent from 15.5 percent, while those anticipating fewer jobs declined to 13.4 percent from 13.9 percent.

On Friday, the University of Michigan is scheduled to release its revised reading on U.S. consumer sentiment in the month of January.

The consumer sentiment index for January is expected to be unrevised from the preliminary reading of 99.1, which was down from 99.3 in December.


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*U.S. Consumer Confidence Index Jumps To 131.6 In January

Trading 28 jan 2020 Commentaire »

U.S. Consumer Confidence Index Jumps To 131.6 In January


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*Hungary CB Leaves Key Interest Rate Unchanged At 0.90% As Expected

Trading 28 jan 2020 Commentaire »

Hungary CB Leaves Key Interest Rate Unchanged At 0.90% As Expected


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*Hungary CB Leaves Key Interest Rates Unchanged

Trading 28 jan 2020 Commentaire »

Hungary CB Leaves Key Interest Rates Unchanged


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U.S. Durable Goods Orders Rebound More Than Expected In December

Trading 28 jan 2020 Commentaire »

New orders for U.S. manufactured durable goods rebounded by much more than anticipated in the month of December, according to a report released by the Commerce Department on Tuesday.

The report said durable goods orders surged up by 2.4 percent in December after tumbling by a revised 3.1 percent in November.

Economists had expected durable goods orders to rise by 0.5 percent compared to the 2.1 percent slump that had been reported for the previous month.

Orders for transportation equipment led the rebound, spiking by 7.6 percent in December after plunging by 8.3 percent in November.

The rebound in orders for transportation equipment came as orders for non-defense aircraft and parts soared by 168.3 percent, more than offsetting a continued nosedive in orders for non-defense aircraft and parts.

Excluding orders for transportation equipment, durable goods orders edged down by 0.1 percent in December after falling by 0.4 percent in November. Economists had expected a 0.2 percent uptick.

The unexpected dip in ex-transportation orders reflected decreases in orders for machinery, primary metals, and electrical equipment, appliances, and components.

The report also said orders for non-defense capital goods, excluding aircraft, a key indicator of business spending, slid by 0.9 percent in December after inching up by 0.1 percent in November.

Shipments in the same category, which is the source data for equipment investment in GDP, fell by 0.4 percent in December following a 0.3 percent decrease in the previous month.

"Business equipment investment appears to have followed the 3.8% annualized decline in the third quarter with another modest fall in the fourth," said Andrew Hunter, Senior U.S. Economist at Capital Economics. "Nevertheless, we still think overall GDP growth was a reasonably solid 1.9% annualized."

He added, "And the sharp fall in corporate borrowing costs in recent months, easing of trade uncertainty and improvement in the capex intentions surveys all suggest that equipment investment will start to rebound before long."


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Dollar Little Changed Following S&P/Case-Shiller Home Price Index

Trading 28 jan 2020 Commentaire »

Standard and Poor's Corelogic Case-Shiller Home Price Index for November has been released at 9.00 am ET Tuesday. The greenback changed little against its major rivals after the data.

The greenback was trading at 1.1006 against the euro, 109.03 against the yen, 0.9729 against the franc and 1.3004 against the pound around 9:04 am ET.


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*S&P CoreLogic Case-Shiller 20-City Home Price Index Up 2.6% YoY In November

Trading 28 jan 2020 Commentaire »

S&P CoreLogic Case-Shiller 20-City Home Price Index Up 2.6% YoY In November


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Dollar Rises Ahead Of S&P/Case-Shiller Home Price Index

Trading 28 jan 2020 Commentaire »

Standard and Poor's Corelogic Case-Shiller Home Price Index for November will be issued at 9.00 am ET Tuesday. The consensus is for a growth of 0.4 percent, unchanged from October.

Ahead of the data, the greenback advanced against its major rivals.

The greenback was worth 1.1008 against the euro, 109.02 against the yen, 0.9729 against the franc and 1.3011 against the pound as of 8:55 am ET.


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U.S. Durable Goods Orders Jump 2.4% In December

Trading 28 jan 2020 Commentaire »

New orders for U.S. manufactured durable goods rebounded by much more than anticipated in the month of December, according to a report released by the Commerce Department on Tuesday.

The report said durable goods orders surged up by 2.4 percent in December after tumbling by a revised 3.1 percent in November.

Economists had expected durable goods orders to rise by 0.5 percent compared to the 2.1 percent slump that had been reported for the previous month.

Orders for transportation equipment led the rebound, spiking by 7.6 percent in December after plunging by 8.3 percent in November.

Excluding orders for transportation equipment, durable goods orders edged down by 0.1 percent in December after falling by 0.4 percent in November. Economists had expected a 0.2 percent uptick.


The material has been provided by InstaForex Company - www.instaforex.com

January 28, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

Trading 28 jan 2020 Commentaire »

analytics5e3058ca9ef01.jpg

On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the newly-established bullish channel.

On the period between December 18 - 23, bearish breakout below the depicted channel followed by initial bearish closure below 1.3000 were demonstrated on the H4 chart.

However, earlier signs of bullish recovery were manifested around 1.2900 denoting high probability of bullish pullback to be expected.

Thus, Intraday technical outlook turned into bullish after the GBP/USD has failed to maintain bearish persistence below the newly-established downtrend line.

That's why, bullish breakout above 1.3000 allowed the recent Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where bearish rejection and another bearish swing were suggested for conservative traders in previous articles.

Moreover, new descending highs were recently demonstrated around 1.3120 and 1.3085.

That's why, Intraday technical outlook is supposed to remain bearish as long as the pair maintains its movement below 1.3120 (recently established descending high).

Conservative traders can wait for bearish breakdown below 1.2980.

This would be needed first to enhance further bearish decline towards 1.2900, 1.2800 and 1.2780 where the backside of the previously-broken downtrend is located.

In the Meanwhile, Intraday traders can watch for bullish rejection around 1.3000-1.2980 as a bullish signal for another bullish pullback towards the depicted price zone (1.3170 - 1.3200).

The material has been provided by InstaForex Company - www.instaforex.com