• Stocks in the US started the trading nearly unchanged, as investors absorbed this week’s robust rally. Despite the weaker than expected economic data released during the week, stocks continue to rally. The Nasdaq was the best performing of the major indices, and broke out on Thursday while the other major indices are following close behind

  • US consumer confidence steadied in February, as Americans remained generally optimistic amid a broad, weather-induced slowdown in the economy. A broad gauge of consumer sentiment, courtesy of Thomson Reuters and the University of Michigan, was unchanged at 81.2 in February. Economists in a Reuters poll forecast a narrow drop to 80.6. A weaker appraisal of

  • Industrial output in the world’s largest economy unexpectedly declined in January, as severe weather weakened production in some parts of the country. Industrial production declined 0.3 percent in January, official data from the Federal Reserved showed today in Washington. The decline, which is the steepest since May 2009, followed a revised gain of 0.3 percent

  • As investors moved back into riskier assets, the dollar was able to gain traction against the yen. The Japanese currency is a proxy for risk off trades despite the countries slow growth and low interest rates. On Wednesday Japan reported weaker than expected machinery orders, while the US passed a debt ceiling bill which will

  • Forex » US Dollar Steadies Above Two-Week Lows
    February 12, 2014, 19:23 GMT

    The US dollar index was higher Wednesday, as the forex market continued to digest latest testimony from Federal Reserve Chairman Janet Yellen. Although acknowledging that labour market recovery was far from complete, Yellen told the House yesterday the central bank remained committed to winding down its record stimulus program. The tapering process, which was initiated

  • Federal Reserve Chairman Janet Yellen has pledged to maintain continuity with her predecessor’s bond tapering initiative, reassuring the markets stimulus will be scaled back in “measured steps.” In her first public address as Federal Reserve Chairman, Janet Yellen told the House Financial Services Committee the central bank is committed to achieving its dual mandate of

  • US wholesale inventories rose at a slower pace than forecast in December, fueling speculation the government may trim its estimate for fourth quarter GDP growth. Wholesale inventories rose 0.3 percent in December, official data from the Commerce Department showed today. Economists in a Reuters poll forecast a gain of 0.5 percent, in line with the

  • Small business confidence in the United States increased slightly in January, as anticipation of higher sales slightly outweighed concerns over high inventories and weak earnings. The Business Optimism Index, courtesy of the National Federation of Independent Business, edged up slightly in January from 93.9 to 94.1. Economists in a Reuters poll forecast a narrow drop

  • The USDJPY currency pair declined Monday, as a dearth of economic data in the United States outweighed weaker than forecast Japanese data. The pair fell to a session low of 101.99 before consolidating north of 102. At 20:30 GMT, the USDJPY was trading at 102.25, a loss of nearly 0.3 percent. The pair came under

  • Stocks gyrated after the US released its payroll report, which came in much weaker than expected. There was a disparity when comparing the corporate non-farm payroll report with the household survey which led to market volatility. Apple announced a 14 billion dollar buy back, while LinkedIn tumbled after weaker than expected earnings results. The U.S.