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Sep 12, 2014
Wall Street lower, EUR recovers
FXStreet (Córdoba) - Equities were falling in the US following a mixed close for European markets. Better-than-expected data from the US failed to boost stocks, that are about to end the week with mixed results.
Economic data from the US showed that retail sales rose 0.6% in August, the strongest reading since April, in line with expectations and July numbers were revised up 0.3%. The preliminary reading of the consumer-sentiment index from the University of Michigan/Thomson Reuters rose from 82.5 to 84.6, the highest level since July 2013.
“With consumer confidence at good levels, supported by the strength in home and equity prices and a firm jobs market we look for consumer spending to maintain its decent growth rate through the fourth quarter. As such our call for an April rate rise from the Federal Reserve remains on track”, commented James Knightley, analyst at ING.
Europe mixed, Wall Street falling
Among county indexes, the FTSE 100 rose 0.11% and the Cac 40 climbed 0.02% on the negative side, the Dax lost 0.42% while the FTSE MIB retreated 0.10%. In Wall Street the Dow Jones was falling 0.42% and the Nasdaq was down 0.45%.
In the currency market the euro was rising across the board, pushing EUR/USD above 1.2960. Commodity currencies trimmed losses against the US dollar during the American session but were consolidating weekly losses. Gold was falling again and reached fresh monthly lows below $1,230/oz while crude oil was rising modestly, trading above $93.00 a barrel.
Economic data from the US showed that retail sales rose 0.6% in August, the strongest reading since April, in line with expectations and July numbers were revised up 0.3%. The preliminary reading of the consumer-sentiment index from the University of Michigan/Thomson Reuters rose from 82.5 to 84.6, the highest level since July 2013.
“With consumer confidence at good levels, supported by the strength in home and equity prices and a firm jobs market we look for consumer spending to maintain its decent growth rate through the fourth quarter. As such our call for an April rate rise from the Federal Reserve remains on track”, commented James Knightley, analyst at ING.
Europe mixed, Wall Street falling
Among county indexes, the FTSE 100 rose 0.11% and the Cac 40 climbed 0.02% on the negative side, the Dax lost 0.42% while the FTSE MIB retreated 0.10%. In Wall Street the Dow Jones was falling 0.42% and the Nasdaq was down 0.45%.
In the currency market the euro was rising across the board, pushing EUR/USD above 1.2960. Commodity currencies trimmed losses against the US dollar during the American session but were consolidating weekly losses. Gold was falling again and reached fresh monthly lows below $1,230/oz while crude oil was rising modestly, trading above $93.00 a barrel.