Forex news for NY trading on October 14, 2016
Fundamentally, the showed that the headline number was up an impressive +0.6% but the control group which gets fed to GDP (Retail sales less food, auto dealers, building materials and Gas stations) rose by a lower than expected +0.1% (est +0.4%). and it came in a little higher than expected. Business inventories rose by 0.2% (est +0.1%) while the Michigan consumer sentiment fell sharply to 87.9 from 91.2. The estimate was for rise to 91.8. Concerns about the election weighed on consumer sentiment. Inflation expectations remain subdued.