U.S. durable goods orders tankJanuary 28, 2014 Posted by: Pete Karabatos
Janet Yellen takes over as Fed Chair at the end of the month and will confront the challenge of defusing a potential asset bubble fueled by stimulus without damaging the U.S. economy. The Fed concludes its 2 day policy meeting tomorrow, the last meeting with Bernanke at the helm, and will likely announce another $10 billion reduction to its monthly bond buying program, down to $65 billion. Global markets have sold off in recent days on concerns of a slowdown in China and any unexpected tightening in Fed policy would likely exacerbate the moves.
• U.S. durable goods orders unexpectedly fell 4.3% in December to the lowest levels in five month, indicative of a broad based decline that raises the possibility that business investment will cool in 2014.
• According to the Case-Shiller index, U.S. home prices rose by 13.7% in November from the prior year, the most since February 2006.
• U.K. GBP expanded by .7% in the fourth quarter and by 2.8% year/year, the strongest performance since 2007.
• U.S. consumer confidence rose to 80.7 in January from 77.5 the prior month, stronger than expected.
• The INR rose by the most in two months after the Reserve Bank of India unexpectedly raised rates.
01/29 USD: FOMC rate Decision
01/31 EUR: Unemployment (Jan)
01/31 USD: Personal Income and Spending (Dec)
02/03 GBP: Manufacturing PMI (Jan.)
02/03 USD: ISM Prices Paid (Jan.)
02/04 EUR: Producer Price Index (Dec.)
02/04 USD: Factory Orders (Dec.)
02/05 GBP: Purchasing Managers’ Index (Jan.)
02/05 EUR: Retail Sales (Dec.)
2 Year 0.34
5 Year 1.55
10 Year 2.72Read More