Last week was remarkable for respective mildness amidst...

Last week was remarkable for respective mildness amidst...

Last week was remarkable for respective mildness amidst the insignificant capacity of the US economic statistics.
The attempts to suppress the US Dollar went on, but succeeded concerning the cross of the “buck” to the Euro only, because the latter was upraising thanks to the optimistic influxes at the stock market and also the absence of further negative concerning the EU countries’ debt troubles.
However, both the GB Pound and Yen were in “less luck”, because these majors lost to the “greenback” its predominance at the market, which occurred in the beginning of the week and completed the session sagging down. As mentioned, there were little data on the economy of the USA.
Their values stirred up the conclusions of pessimistic climate in the US affairs, as the purchasing managers’ index for the services stated a definite meltdown in June, while the same tendency was observed in the consumer crediting – the April value was revised to -14.9 Billion after previous +1.0 Billion of dollar, and it was pronounced -9.1 Billion for May. The employment statistics smoothed the situation to some degree, but only concerning the weekly dynamics of the primary jobless claims, which showed a shortage.
The increase was also observed in the wholesale stocks as there was a raise for 0.5% in May after +0.2% in April, though the annual dynamics proves the cut down for 2.1% y/y. There’s going to be much more American economic news this week. The following data will certainly cone the market’s attention: the foreign trade’s totals with the forecasted shortage of the deficit to -39.3 Billion from -40.3 Billion of dollar, the results of the budget implementation, with probably les minus than before, moreover, it’s predicted to be almost twice less; and finally, the June data for the retail sales, which are presumed decreasing for -0.1% m/m, what is much less than fixed in May, when it was -1.2% m/m.
Besides, the inflation will also arouse interest as both the producers’ and consumer price indexes are predicted sagging down per annum, whereas there’s foreseen the monthly increase of the consumer prices (CPI), though the decline of the producers’ ones (PPI). The political component of the weekly news will be represented with the appearance of B. Bernankey and the publicizing of the last FOMC meeting’s minute.
As judged by the former weekly session’s events, it’s reasonable to forecast the comeback of the concerns about the Euro zone’s troubles to the market. The widening of the spread between the German and Greek bonds reasonably confirms it. If this mood keeps stays further the US Dollar will go ahead getting back its formerly lost positions. Also possible, this process has already begun on the previous Friday, when the “buck” mainly fixed the profit.