USD news - page 23
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US initial jobless claims w/e 17 Dec 275k vs 257k exp
US weekly jobless claims report 22 Dec
Disappointing jobs data but focus on GDP and Durables. USD demand prevailing but limited reaction.
US Final Q3 GDP Estimate Revised To 3.5% from 3.2%, Consumer Spending Buoyant
The final reading for third-quarter US GDP was revised to 3.5% from the previous estimate of 3.2% and was also stronger than the consensus forecasts of a 3.3% rate.
This was the strongest growth rate since the third quarter of 2014 and an increase from the 1.4% for the second quarter, which will boost optimism surrounding the US outlook.
The personal consumption estimate was revised higher to 3.0% from the previous estimate of 2.8% and followed growth of 4.3% for the second quarter.
The total figure for investment was revised to 3.0% from 2.1% in the previous estimate with upward revisions to most categories and followed a 7.9% decline for the previous quarter. Within the capital-spending data, the estimate for non-residential investment was raised to 1.4% from 0.1% previously.
There was no significant change to the trade component, which made a positive contribution for the quarter, while the estimate of government spending was increased to 0.8% from 0.2%. There was also a positive contribution from business inventories.
The GDP price index was unchanged from the previous estimate of 1.4% with the PCE price index revised up to 1.5% from 1.4%.
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Kansas City Fed Manufacturing Activity Index Hits 31-Month High
The Kansas City Federal Reserve composite manufacturing index strengthened to 11 for December from 1 the previous month. This was the fourth successive reading above zero and the strongest reading for over two years since May 2014.
The production index rose to 24 from 9 previously with new orders at 11 from 6. The volume of shipments also increased for the month, while the index of order backlogs increased to 7 from -2 previously.
The employment index rose to 10 from 1 previously, the strongest reading since May 2014, with companies also reported an increased workweek. There were increases for prices paid and received for the month with the finished goods prices index rising for the first time since July 2015. The only negative reading was for exports, which will maintain concerns surrounding the impact of a strong dollar.
There was also an increase in the expected position in six months to 19 from 12 previously, also the strongest reading of 2016. There was strength across all components with notable upward pressure on prices with the prices received component strengthening to 24 from 11 previously.
The data overall will maintain near-term confidence in the regional manufacturing sector, especially with capital spending levels stronger, although the dollar impact will be watched closely over the next few months.
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November US new home sales 592K vs 575K expected
November US new home sales
New home sales 592K vs. 575K forecast
New home sales in the U.S. rose more-than-expected last month, official data showed on Friday.
In a report, the Census Bureau said that new home sales rose to a seasonally adjusted annual rate of 592K, from 563K in the preceding month.
Analysts had expected new home sales to rise to 575K last month.
Dollar dips vs. yen after U.S. yields pull away from highs
The dollar dipped against the yen on Monday, edging lower down after U.S. Treasury yields dipped on mixed economic data.
Trading was subdued with many key markets shut on Monday for the Christmas holidays.
The greenback was down 0.2 percent at 117.300 yen . The euro was steady at $1.0457 .
Currencies took stock of the U.S. debt market, which saw the benchmark 10-year note yield end lower on Friday.
The yield pulled back from 27-month peaks scaled mid-month following Friday's release of U.S. economic indicators that included strong housing and consumer confidence data but also numbers that pointed to slower household income.
"The currency market is likely to lack incentives as major markets in Asia, Europe and North America will be closed. That said, dollar/yen risks drifting below 117 on caution toward the Trump administration's protectionist policies," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities in Tokyo.
US Consumer Confidence rises to 113.7 vs 108.5 estimate
Highest level since August 2001
Dollar hold gains against yen on upbeat U.S. data
The dollar edged up against the yen on Wednesday within sight of a 10-1/2 month high in thin holiday trade, after strong U.S. economic data reinforced expectations that the U.S. Federal Reserve would be more hawkish in the year ahead.
The dollar was last flat against the yen at 117.45, after gaining nearly 0.5 percent to 117.63 yen on Tuesday in the wake of data showing U.S. consumer confidence hit 15-year peak in December.
The dollar rose as high as 118.66 yen on Dec. 15.
The Conference Board said its U.S. Consumer Confidence Index rose to 113.7, the highest since August 2001, as expectations for strength in job growth, business conditions and the stock market continued to build following Donald Trump's election to president.
U.S. house prices also continued their steady recovery in October, although a spike in borrowing costs could present a headwind to sustained home value gains, as rates rose after the election.
The upbeat data helped underscore expectations that the U.S. central bank would raise interest rates at a faster pace next year, a view that gained traction after the Fed on Dec. 14 projected three rate hikes next year compared with the two it predicted in September.
"The next data to watch is U.S. payrolls due on Jan. 6," said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank in Tokyo. "M
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US pending homes sales -2.5% vs +0.5% estimate
Much lower than expectations in November
U.S. jobless claims fall slightly less than expected
The number of people who filed for unemployment assistance in the U.S. last week decreased slightly less than expected last week but remained in territory consistent with a firming labor market, official data showed on Thursday.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 24 decreased by 10,000 to a seasonally adjusted 265,000 from the previous week’s total of 275,000.
Analysts had expected jobless claims to fall by 11,000 to 264,000 last week.
The Department of Labor indicated that there were no special factors impacting this week’s initial claims and that it marked 95 consecutive weeks of initial claims below 300,000, the longest streak since 1970.