US Economic Data Disappoints

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A series of disparaging economic reports out of the US economy yesterday has offered an ill foreboding for today's employment and manufacturing data. Although the US dollar has posted gains since yesterday afternoon against all but the euro, the market data paints a different picture altogether.

The S&P's composite housing index revealed a 3.6% decline in home prices, tracked on a year-on-year basis, and some have said that home values have recently touched another all-time low. The Conference Board's ( CB ) consumer sentiment report also highlighted a sharp drop in confidence among American consumers. It may not be far off to assume a growth forecast restructuring taking place in the near future.

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This article appears in: Investing , Forex and Currencies


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