Retail sales rose a robust 1.0% M/M in value during September – being the seventh increase in nine months and showing a steady 3-month trend pace of growth. Despite declining overall retail prices, volumes were up 1.2%, propelling the monthly gain. The monthly advance of retail sales occurred mainly on…
Existing Home Sales Hang on for One More Month
Sales soared for the second straight month as buyers rushed to take advantage of the first-time homebuyer tax credit, which was originally scheduled to expire at the end of November. Sales are up an astonishing 19.8 percent over the last two months. Unfortunately, we do not expect this sales pace…
Existing Home Sales in the United States Rise in October by a Staggering 10.1 Percent!
The U.S. housing market is showing more signs of increased activity, as cheap home values and the ongoing support from the U.S. government through tax credits for first time buyers continue to support activity in the housing sector, yet the housing market is still stabilizing amid the worst slump since…
Market Starts the Week with Another Attempt at Reinvigorating the USD Carry Trade
The Fed’s Bullard was out overnight arguing in favor of flexibility if the US economy proves weaker than expected, with “flexibility” meaning potentially extending the largest of its QE measures – the purchase of mortgage-backed securities – beyond the end of March deadline now established by the recent Fed monetary…
USD/JPY Continues Consolidation Amid FX Fluctuations
USD/JPY has recovered earlier losses and is pushing higher towards 89 after U.S. Existing Home Sales topped analyst expectations. Therefore, it seems the USD/JPY’s correlative pattern is a combination of investor appetite for the risk trade countering comparatively loose monetary policy from the Fed. Since the Fed and the BOJ…