Following the day of not so good (rather bad) economical news from U.S. yesterday, markets were surprised by some very optimistic indicators presented today. A reaction on both stocks and Forex markets was supportive with the stocks bulls, EUR and GBP to gain and the bears with JPY and USD to lose somewhat.
Personal income and spendings number for July came out at 0.5% and o.4% growth that is higher than 0.3% expected (for both). While the core PCE inflation came a little worse than expected — 0.1% against 0.2%.
Chicago PMI — the major manufacturing sentiment index came out 53.8 level increasing from 53.4 and above the expected 53.0.
July factory orders were the main surprise — 3.7% from the 1.0% previous month and 3.0% from the expected number for July.
Michigan sentiment index reached 83.4 number — which is higher than both previous and expected numbers and is a historically high value for this index.
Overall, almost every indicator came out surprisingly high and probably gave some fuel for the future Fed’s interest rates decision.
