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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (35380)	8/15/2005 11:17:07 AM
From: Chispas	Respond to of 116555

From DailyFX.com - No More Buying? . Dollar weakness continued for sixth week in a row as less than stellar Retail Sales and a ballooning Trade Deficit pressured the unit. In a classic case of buy the rumor sell the fact, EUR/USD actually tumbled after the release of the Trade data although the number was nearly $2 Billion worse than the consensus call of -$57 Billion. But dollar strength did not last long as the pair recovered most of its losses by end of day. More troubling for greenback bulls from a longer term point of view was the lackluster reading from Retail Sales which only printed a gain of 0.3% m/m ex-autos. With US savings rate having recently hit 0%, the consumer appears to be nearly exhausted. One ominous sign of that fact was the warning from Dell on next quarters numbers which dropped the stock 8% on Friday. Only substantial wage increases in the next several months could fuel additional growth for the US economy. Given the tepid results from last week’s NFP, that bet is certainly quite problematic right now.... More (slow to load due to graphics) : dailyfx.com