Good morning, on this the 46th day of 2005.
The retail sales headline number for January was sharply off this morning, mostly attributable to a 0.3 percent drop in auto sales. Apparently sales of gasoline remain strong, which we might well have inferred from the continued strength in crude oil prices. Stock index futures remain somewhat above yesterday’s close following the news.
The US Dollar continues to be under some pressure this morning, with the Euro and Pound putting in particularly strong performances so far today.
EURUSD
GBPUSD, which interestingly on the weekly chart is nearing a point of key resistance. Many currencies are going to soon prove if old resistance can become support.
USDCAD breaks down through a rising wedge, usual target is the base of the wedge, in this case an overshoot to the 2004 lows would be target two.
US Market Calendar
- 8:30 am: Retail Sales – Jan.1
- 8:30 am: Empire State Manufacturing Survey – Feb.
- 8:55 am: Redbook – Feb. 12th week
- 9:00 am: Foreign Purchases of U.S. Securities – Dec.
- 10:00 am: Business Inventories – Dec.
- 1:00 pm: NAHB Housing Index – Feb.
Canadian Market Calendar
- 8:30 am: Existing Home Sales – Jan.
- 40th anniversary of the country's modern-day flag
Earnings and the Federal Reserve
For earnings highlights, please see today's WSJ Earnings Calendar.
For a list of upcoming speeches, congressional testimony, Federal Open Market Committee material, and statistical releases, please visit the What's Next page of The Federal Reserve Board website. Recently released Federal Reserve Board material, including market moving FOMC decisions and speeches by members, will be found on their What's New page.
1 U.S. retail sales dip on lower auto sales
05.02.15 08:31 #