USD
Yesterday's blank economic calendar produced a relatively quiet trading day for the USD, which traded trendless in a tight range against all majors, and closed the day close to where it started. Although originally scheduled for release yesterday, the Leading Economic Indicators index was postponed to today due to a technical error. The LEI measures economic activity by combining several economic indicators, but since those indicators have already been released and are well known, the index is relatively easy to project and bears little ... ( read more )
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January 19, 2007 - Daily Forex Analysis
USD
Yesterday's flow of strong US economic data was once again, just as it has been in the last several weeks, indicative of a strong, growing economy, which is far from experiencing the "hard landing" scenario that many economists were so concerned about. All economic figures came either inline with or stronger than market expectations. Consumer prices rose 0.5% MoM and 2.5 YoY in December, on consensus expectations of 0.4% MoM and 2.4% YoY, while core CPI came in at 0.2% m/m and 2.6% y/y, matching expectations. Core inflation figures thus ... ( read more )
January 17, 2007 - Daily Analysis
USD
Yesterday, the USD strengthened against the majors after OPAC announced they will not be calling an emergency meeting result of decreasing oil prices. Low energy prices only support US consumption and improve its trade deficit - both of course are USD positive.
The only data to release yesterday was the Empire State Manufacturing Index which measures the manufacturing activity in New York State factories. According to the numbers, the activity was slower than expected - it's lowest since mid-2005. The Empire State Index fell to 9.13 f... ( read more )