30/5/2008 - The Current Market Sentiment |
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The oil price easing has given support to the greenback this week. The greenback has been underpinned by April durable goods excluding transports have risen by 2.5% and the broad figure has declined by just .5% and the market was expecting a decline by 1%. The US GDP Q1 preliminary reading came at .9% and it was expected to be 1% with core PCE at 2.2%.which came actually at 2.1% and we have today April core PCE which is expected to be 2.1% y/y again. the PCE is preferred inflation indicator of
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