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29 Sep 2014
Wall Street starts week lower, USD retreats
FXStreet (Córdoba) - Equities in the US were falling modestly while European markets finished lower. Among country indexes the FTSE 100 lost 0.04%, the Cac 40 declined 0.71% and the Cac 40 fell 0.80%. In Wall Street the Dow Jones was falling 0.59% and the S&P 500 was down 0.55%.
Charles Evans, president of the Chicago Federal Reserve Bank said in an interview that the central bank will need to keep rates low beyond next summer, until the economy shows it can sustain momentum without support.
Among economic data, consumer spending rose in August by 0.5%, above expectations of a 0.4% increase while personal spending rose 0.3% as expected by analysts. Pending home sales in August fell 1%, more than the decline of 0.1% expected.
In the currency market, the US dollar was pulling back in New York, GBP/USD hit fresh daily highs above 1.6260 while EUR/USD climbed on top of 1.2700. Commodity currencies erased losses while USD/JPY pulled back from fresh multi-year highs to 109.30.
Crude oil was rising 0.60% with the barrel above $94.00 while gold was unchanged, around $1,218/oz, after being unable to hold above $1,220.
Charles Evans, president of the Chicago Federal Reserve Bank said in an interview that the central bank will need to keep rates low beyond next summer, until the economy shows it can sustain momentum without support.
Among economic data, consumer spending rose in August by 0.5%, above expectations of a 0.4% increase while personal spending rose 0.3% as expected by analysts. Pending home sales in August fell 1%, more than the decline of 0.1% expected.
In the currency market, the US dollar was pulling back in New York, GBP/USD hit fresh daily highs above 1.6260 while EUR/USD climbed on top of 1.2700. Commodity currencies erased losses while USD/JPY pulled back from fresh multi-year highs to 109.30.
Crude oil was rising 0.60% with the barrel above $94.00 while gold was unchanged, around $1,218/oz, after being unable to hold above $1,220.