Forex Area
Factory Orders Shed Another 4.6 Percent as Business Spending Cools
Factory Orders Shed Another 4.6 Percent as Business Spending Cools
Orders at U.S. factories declined by another $18.7B in November - the fourth consecutive monthly drop. These declines indicate an even worse scenario for business spending than many initially feared. The collapse in prices of commodity-related goods is exacerbating already weak orders data for nondurable goods.
Businesses […]
Greenback Slumps on Soft Data
Greenback Slumps on Soft Data
The dollar relinquished its recent gains versus the majors, tumbling by over four big figures against the pound to 1.4960. The economic data released earlier in the session was mixed, with durable goods, factory orders, pending home sales and non-manufacturing ISM reported in the Tuesday session.
The November headline durable goods orders […]
Fed Sees ‘Possibility Of A Prolonged Contraction’
Fed Sees ‘Possibility Of A Prolonged Contraction’
The Federal Reserve released the minutes from the last monetary policy meeting over December 15th and 16th; and their observations were discouraging. Though the Federal Open Market Committee decided to lower the benchmark lending rate to encompass a range between zero and 0.25 percent (a record low under modern […]