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Industrial Production Slows as Autos and Utilities Drop Unexpectedly

Highlights Retail Sales Show Signs of Improvement Despite the Decline in Gas Prices - The retail sales report for April showed a slight rise in consumer spending despite the call for a consensus decline. Headline retail sales rose 0.1%, which is modest considering the 0.5% decline seen in March. The nominal figure was higher than expected given the lower gas prices seen during the month. Sales at gasoline stations declined for the second consecutive month, down 4.7% in April. Read More | View Original Article

Weak economic data weigh on yields

Sovereign debt markets inched down early in the week but rallied at the end of the week after economic data disappointed - Greek and Portuguese yields declined sharply after the positive assessments from the Eurogroup for both countries, and after Fitch upgraded the Greek sovereign rating to B- from CCC. In the week, the Greek 10Y yield fell by 142bps, while the Portuguese decreased by 21 and the Spanish one inched down by 7bps. Read More | View Original Article

Poor Data...Nothing Stopping The Bull....

Poor data, again, late in the week couldn't get the market to stumble very much. Some, yes, but in a big way, no. We saw the number from the Philadelphia Fed come in below the zero level again after going green the prior month. Minus five, and change, showing their economy is in recession for the very short-term at least. On top of that, we then saw a huge increase in the jobless claims number. Thirty thousand bump up and well above expectations. Read More | View Original Article

AUD Weekly Market Watch 20/05/13

Last week recap EUR/USD extended its losses last week as the Eurozone reported weak economic data and the U.S. Fed gave indications it might slow down asset purchases. The week began on a quiet note, with the rate consolidating at a slightly higher level after U.S. Core Retail Sales declined -0.1% m/m as widely expected, while Retail Sales increased +0.1%, versus -0.3% expected. Read More | View Original Article

The Coming Week: 12 Market Drivers To Watch

In terms of actual scheduled economic calendar events, the week is light. That will leave traders and pundits alike with time to continue speculating on variations and aspects of The Great Question – how much can we trust the current bull market in stocks and other risk assets to continue, and is there still time to get it without excessive risk of buying at them top. For all but the short term traders, all else is just commentary. Read More | View Original Article

Morning Report - US Dollar on the march, Euro to 1.21

Stocks and the US dollar were higher on Friday night as the trends continue to dominate markets. US 10 years rates were chased back from 2% last week by some buying but it seems that with all the talk of taper floating around the market is going to continue to keep upward pressure on yields which is reinforcing the US dollars growing place in FX land as the least ugly currency du jour and quickly becoming the currency du mois or even du annee. Read More | View Original Article

Forex Weekly Outlook May 20-24

The US dollar had another impressive week, making significant gains against many currencies. A rate decision in Japan, Ben Bernanke’s testimony, the FOMC Meeting Minutes, and the German Ifo Business Climate are the top events on our calendar. Here is an outlook on the main market movers awaiting us this week. The dollar’s strength came despite weak US data: the Philly Fed Manufacturing Index dropped to -5.2 in May. Read More | View Original Article