USA Business Inventories

Description

This monthly indicator measures the monetary value of goods held by retailers, wholesalers and manufacturers across the US economy. The indicator is represented as a monthly price change in total inventories.
Latest Release: 11-12-2014 15:00:00
Next Release: 29-10-2013 14:00:00
Source:US Census Bureau/Department of Comm...
US Dollar Steadies at 6-Year Highs
Sep 12th, 2014 at 06:26 PM

The US dollar was little changed Friday, holding steady at six-year highs as retail sales and business inventories advanced as expected, while consumer confidence reached a 14-month high.

The US dollar index, which gauges the greenback’s performance against a basket of currencies, was at 83.23, little changed from the previous close of 84.30. The index is pacing for a weekly gain of 0.5 percent and is on its way to its strongest rally since 1997, according to Thomson Reuters.

The dollar index has advanced 5.2 percent this year, as demand for the greenback picked up over the summer amid signs the Federal Reserve could use improved data to justify an earlier than expected rate hike. The Fed is poised to do away with its quantitative easing program in October, which could potentially lead to a rate-adjustment as early as April.

The Federal Reserve maintains the economy still has a long way to go before it achieves balanced, sustainable growth. However, this has not deterred the central banking authority from trimming the pace of monthly bond purchases in succession. The Fed has been steadily paring asset purchases since December, when the process was first initiated under the direction of then-Chairman Ben Bernanke.

Additionally, several international developments have kept demand for the US dollar elevated in recent months. A slowdown in UK economic growth, contraction in Germany and a worsening Japanese economy have all propelled the greenback at the expense of the pound, euro and yen.

The dollar advanced against the Japanese yen on Friday, hitting a...