Job losses are increasing, but that hasn’t stopped Americans from spending and unfortunately that pretty much sums up American culture. Retail sales increased 1 percent in the month of January despite a sharp increased in jobless claims (Instant Insight on Retail Sales). Consumers took advantage of sharp January discounts and the bankruptcy [...]
Entries Categorized as 'consumer spending'
February 12, 2009
December 29, 2008
2008 Price Action: It has been an exceptionally active year in the foreign exchange market as currency volatilities hit record highs. In the first half of the year, everyone was worried about how much further the dollar would fall but in the second half of the year the concern became how much further [...]
December 23, 2008
The US dollar appears to be unfazed by this morning’s mixed economic data. An improvement in consumer confidence has failed to help the dollar while the weaker news has pretty much been baked into the markets.
Christmas and New Years week is a time when traders are more focused on seeing family than making [...]
December 19, 2008
Oil prices are trading at $33 a barrel and in retrospect, it is almost hard to believe that the price of crude was more than $140 a barrel this summer (gasoline prices were greater than $4.00 a gallon).
Since those highs, oil prices have plunged more than 70 percent and gas prices are down [...]
December 12, 2008
US retail sales and producer prices were basically in line with expectations but that does not undermine the fact that the data was very weak and confirms that the Federal Reserve will be cutting interest rates by 75bp next week. USD/JPY hit a 13 year low last night after news that the automaker [...]