After last month Fed's .5% surprising cut. The interest rate outlook uncertainty has caused volatility in the treasury market and currency market as well. This week awaited ISM and PMI figures are important to realize how far the impact of the crises in EU and UK can be. We wait also for the US labor report which is expected to negatively further for the second month after the recent weak consuming and business which have followed the sub-prime problem.
Last week US housing sales data have continued the decline in a faster pace than expected especially the new housing sales effecting negatively in the current market confidence which has started to be built after the Fed's cut to show that the risk still exists and the worse of the housing data is still ahead
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