CORE RETAIL SALES REPORT
The US Core Retail Sales report measures the change in the total value of sales made to the US consuming public, excluding sales of automobiles. It is an important measure of consumer spending.
This news report has become very important over the years following the global financial crisis where consumer spending was badly hit as a result of the subprime mortgage crisis, which triggered foreclosures, bank collapses and the attendant loss of jobs that reduced disposable income. The Core Retails Sales report is therefore used to measure to what extent consumers are spending, as the spending habits of consumers are directly proportional to how much cash they have. The level of disposable income available to consumers to spend is a direct measure of the state of the economy. Manufacturers of consumer goods and retail outlets depend on the ability of the consuming public to buy their goods to keep them afloat. When these production outlets are afloat, then jobs can be created and a positive cycle can be perpetrated, keeping the economy healthy.
Rally in Stocks Lifts USD/JPY Above 100.00
Market Drivers November 14, 2013
USD/JPY takes out barriers at 100.00
UK Retail Sales miss on warmer weather
Nikkei 2.12% Europe .94%
Europe and Asia:
JPY IP 1.3% vs. 1.5%
GBP Retail Sales -0.6% vs. 0.0%
EUR Flash GDP 0.1% vs. 0.2% eyed.
FOREX MARKET EUROZONE BLUES
The momentum of market focus has once more shifted back to the Eurozone. 2011 has not been a good year for the Eurozone, as Greece, Spain and more recently, Italy and Ireland just cannot seem to shake the cobwebs off.
The recent announcement by the Greek financial minister that the country has resources to pay salaries only until October is not cheery news at all. Ireland is also being asked to cut down salaries of government workers, one of he highest in the zone in an attempt to get the debt profile of the country to below 10.5% of its GDP.
The recent resignation of the ECBs Jurgen Stark just seems to add to the panic. We saw the Euro tumble against the USD by more than 800 pips since the month of September.
TopGoldForum is for over 10 years, one of the prime online destination for online money making, forex trading, offshore companies, investments, online payments and crypto-currencies like bitcoin help and advices. More about us.