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14 May 2015
Greenback dropped back on US data - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation noted the events overnight that had the greenback falling back.
Key Quotes:
"US April retail sales printed flat (f/c 0.2%) though with Mar revised up 0.2ppt. The real disappointment was in the less volatile measures, especially the control group (matching PCE), which printed flat rather than rising 0.5% as expected, albeit with Mar revised up from 0.3% to 0.5%. There is a limit to how long optimists can keep blaming poor US activity data on the weather."
"US 10yr treasury yields dipped 4bp to 2.19% after the retail sales data but then resumed a familiar rise, to 2.29%. The 2 year T-note yield softened slightly to 0.575%. The Atlanta Fed downgraded its Q2 GDP prediction from 0.8% to 0.7% following the retail sales report."
Key Quotes:
"US April retail sales printed flat (f/c 0.2%) though with Mar revised up 0.2ppt. The real disappointment was in the less volatile measures, especially the control group (matching PCE), which printed flat rather than rising 0.5% as expected, albeit with Mar revised up from 0.3% to 0.5%. There is a limit to how long optimists can keep blaming poor US activity data on the weather."
"US 10yr treasury yields dipped 4bp to 2.19% after the retail sales data but then resumed a familiar rise, to 2.29%. The 2 year T-note yield softened slightly to 0.575%. The Atlanta Fed downgraded its Q2 GDP prediction from 0.8% to 0.7% following the retail sales report."