All the day’s economic and financial news, as new Chinese trade figures beat expectations
The US inflation figure was the main focus in the day’s data, says Connor Campbell, financial analyst at Spreadex, and it came in below expectations:
The dollar didn’t get the hawkish data delivery it wished for this Friday – well, not quite anyway – leaving (an admittedly tiny) slither of doubt surrounding the potential December rate hike.
The afternoon’s figures weren’t bad by any means. Retail sales saw a huge bounce from -0.1 to 1.6% month-on-month while consumer confidence hit its highest level since 2004. Yet those readings didn’t really matter to investors, who instead focused on the fact inflation rose from 0.4% to 0.5%, not the 0.6% forecast.
Wow! Consumer confidence makes new cyclical high. Is faster #GDP growth finally around the corner? #taxcuts could give the final push