US Consumer Spending Rose 0.4% - 30.8.2012
The major currencies are relatively flat today in European trading, after consumer spending, personal income and jobless claims readings in the US. Official reports showed incomes grew by 0.3% in July, supporting the 0.4% gain in spending. At the same time the Labor Department reported that the number of initial jobless claims was unchanged in the week ended on August 25, at 374000. Investors are now eyeing at tomorrow’s speech of the Fed president Ben Bernanke in Jackson Hole, which may give some clues of the further central bank’s policy.
The Canadian dollar lost some ground against the greenback today as Canada’s current account data missed forecasts. The deficit widened to 16 billion dollars in the second quarter due to lower exports and higher imports of goods, the nation’s statistics office said. That was the lowest reading since the third quarter of 2010. Pair USDCAD rose to 0.9920, almost touching its weekly high.