Mid-Day Forex Technical Report - Dollar Firm Despite Poor Data |
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Action Insight Mid-Day Report Dollar Firm Despite Poor Data Dollar remains firm in the US session after a bag of poor economic data. Consumer spending dropped more than expected by -0.3% in Sep while income grew more than expected by 0.2%. The drop in consumer spending is indeed the biggest in four years. Inflation continued to moderated with headline PCE dropping to 4.2% yoy in Sep while core CPI dropped to 2.4% yoy. Chicago PMI deteriorated more than expected to 37.8 in Oct, worst reading
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