Retail sales decline 1.2% in Dec. The advance estimate of durable goods data for Dec revealed a rise in capital goods shipments.
Housing starts drop 11.2% in December in overall starts marked. The third decline in the past four months.
Consumer confidences reversed and rose to 131.4. Consumers reported that current conditions were good.
US GDP outturn was strong than expected 2.2% rate that the market consensus had expected. The breakdown showed deceleration was led by personal consumption expenditures, which grew 2.8% in Q4. The effects of government shutdown started in December also showed as non-defense fed government spending tumbled at an annualized rate of 5.6% in Q4.
Personal income and spending lower than expected.
ISM manufacturing index dropped to 54.2 in February, lowest since 2016. Employment component slipped to 52.3 in February, which may shrink expectations for next week’s jobs report.
DXY chart past week resisted 95.85 levels and came back up again. Last week H&S pattern drove down after the bottle neck broke and rebounded. Does this seem to an end of Elliot waves?
A upward move might be seen if 96.70 levels breaks to 97.25 levels progression. Or a side way moves between 96.7 and 96.0 levels.
Indicators:
Parabolic SAR – Bullish
MACD – Bullish
Stochastic – Bullish
Overall - 3/3 - Bullish
Disclaimer:
Any opinions, news, research, analyses, prices or other information contained in this content is provided as general market commentary and does not constitute investment advice. ForexBriefcase will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Housing starts drop 11.2% in December in overall starts marked. The third decline in the past four months.
Consumer confidences reversed and rose to 131.4. Consumers reported that current conditions were good.
US GDP outturn was strong than expected 2.2% rate that the market consensus had expected. The breakdown showed deceleration was led by personal consumption expenditures, which grew 2.8% in Q4. The effects of government shutdown started in December also showed as non-defense fed government spending tumbled at an annualized rate of 5.6% in Q4.
Personal income and spending lower than expected.
ISM manufacturing index dropped to 54.2 in February, lowest since 2016. Employment component slipped to 52.3 in February, which may shrink expectations for next week’s jobs report.
DXY chart past week resisted 95.85 levels and came back up again. Last week H&S pattern drove down after the bottle neck broke and rebounded. Does this seem to an end of Elliot waves?
A upward move might be seen if 96.70 levels breaks to 97.25 levels progression. Or a side way moves between 96.7 and 96.0 levels.
Indicators:
Parabolic SAR – Bullish
MACD – Bullish
Stochastic – Bullish
Overall - 3/3 - Bullish
Disclaimer:
Any opinions, news, research, analyses, prices or other information contained in this content is provided as general market commentary and does not constitute investment advice. ForexBriefcase will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.