{"id":4277,"date":"2009-10-14T13:25:01","date_gmt":"2009-10-14T18:25:01","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=4277"},"modified":"2009-10-14T13:25:01","modified_gmt":"2009-10-14T18:25:01","slug":"positive-earnings-push-stocks-higher-us-retail-sales-fall-less-than-expected-usd-mixed-in-forex","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/10\/14\/positive-earnings-push-stocks-higher-us-retail-sales-fall-less-than-expected-usd-mixed-in-forex\/","title":{"rendered":"Positive Earnings push Stocks higher. US Retail Sales fall less than expected. USD mixed in FOREX."},"content":{"rendered":"

By CountingPips.com<\/strong><\/p>\n

The US Dollar has been mixed today in forex trading against the other major currencies as risk appetite has flowed with positive earnings reports out and with gold and oil touching higher levels today.\u00a0 Intel and JP Morgan Chase & Co. have helped push stock markets higher as both companies beat earnings expectations.\u00a0 JP Morgan recorded a $3.59 billion profit in the third quarter while Intel’s profits fell by 5 percent in the quarter but was better than the forecasts expected.\u00a0 The Dow Jones today briefly touched the 10,000 mark for the first time this year before falling lower as the Dow has jumped \"250150ShoppingMall\"<\/a>over 100 points today while the Nasdaq has gained over 20 points and the S&P500 has climbed almost 15 points at time of writing. Crude oil traded over $75 a barrel while gold touched a new all-time high above $1,070.00 per ounce earlier today before retreating lower.<\/p>\n

Economic releases today showed that US retail sales, released by the Department of Commerce, declined after a strong showing in August.\u00a0 Retail sales fell by 1.5 percent last month after a revised increase of 2.2 percent in August.\u00a0 Despite the decrease, retail sales surpassed market expectations of a 2.1 percent decline for the month. On an annual basis, retail sales dropped by 5.7 percent from the September 2008 level after a 5.8 percent annual decline in August.<\/p>\n

Core retail sales, excluding auto sales, rose by 0.5 percent and beat forecasts expecting a 0.2 percent gain following August’s 1.0 percent revised core sales gain. An 11.8 percent drop in sales of automobiles contributed to the lower sales figures.<\/p>\n

Out of Japan overnight, the Bank of Japan kept its interest rate unchanged at the 0.10 percent level as widely expected.\u00a0 The statement with the rate decision expressed optimism about the domestic economy and business sentiment stating that, “Japan’s economy has started to pick up.”<\/p>\n

The US dollar has been mixed in forex trading, losing ground to the euro, British pound and Swiss franc while gaining versus the Japanese yen and New Zealand dollar.\u00a0 The USD is currently trading virtually unchanged versus the Australian and Canadian dollars from the day’s opening exchange rates at 2:01 pm EDT in the U.S. trading session according currency data by Oanda.<\/p>\n

EUR\/USD Daily Chart<\/strong> \u2013 The euro, gaining for the third straight day versus the dollar, is on a path towards the 1.5000 psychological threshold. The euro has gained seven out of the last nine days to reach its highest levels of the year.<\/p>\n

\"10-14eurusd1\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The euro, gaining for the third straight day versus the dollar, is on a path towards the 1.5000 psychological threshold…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4277","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=4277"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/4277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=4277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=4277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=4277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}