Tuesday, 28 July 2015 21:39
The euro pulled back from session lows against the dollar on Tuesday as data showing that U.S. consumer confidence deteriorated this month tempered expectations for higher interest rates.
EUR/USD was last at 1.1056, off 0.28% for the day, from lows of 1.1022 ahead of the report.
The Conference Board, a market research group, said its index of consumer confidence fell to 90.9 this month from a downwardly revised 99.8 in June. Economists had forecast a reading of 100.0.
Tuesday, 28 July 2015 21:30
[CORR] USD Consumer Confidence (JUL): 90.9 actual vs 100 estimate, prior revised down to 99.8.
In a report, the Conference Board, a market research group, said its index of consumer confidence tumbled to 90.9 this month from a reading of 99.8 in June, whose figure was revised from a previously reported 101.4. Analysts expected the index to rise to 100.0 in July.
The Present Situation Index decreased moderately from 110.3 last month to 107.4 in July, while the Expectations Index declined sharply to 79.9 from 92.8 in June.
Tuesday, 28 July 2015 21:20
USD Markit US Services PMI (Jul P): 55.2 actual vs 55.0 estimate, 54.8 prior.
Financial firm Markit said its preliminary or "flash" reading of its Purchasing Managers Index for the services sector rose to 55.2 in July from the final 54.8 reading in June, slightly beating the 55 level expected by economists in a Reuters survey.
A reading over 50 signals expansion in economic activity.
Tuesday, 28 July 2015 20:30
USD S&P/CS Composite-20 (YoY) (May): 4.94% actual vs 5.60% estimate, prior revised up to 4.95%.
The S&P/Case Shiller composite index of 20 metropolitan areas in May gained 4.9 percent year over year, matching the pace set in April. Economists polled by Reuters had projected a stronger pace of a 5.6 percent increase.
Denver, San Francisco, and Dallas experienced the biggest year-over-year home appreciation among the 20 cities with price increases of 10.0 percent, 9.7 percent and 8.4 percent, respectively.
Tuesday, 28 July 2015 17:37
The pair is now markedly lower, hovering over daily troughs, as market participants remain focused on the negotiations between Greece and the EU institutions on the third bailout package. Furthermore, EU officials argued that a deal could be clinched by the second half of august. In the meantime, the Greek stock market could open tomorrow although it still needs the ECB consent.
Next on tap, the US docket will take centre stage: S&P/Case-Shiller index, Markit’s Services PMI and CB’s Consumer Confidence are due later.
Last Updated on Tuesday, 28 July 2015 18:15
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