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US Personal Income and Spending Exceed Expectations

Personal spending rose by 0.7% while it was expected to rise by 0.6% and personal income climbed 1.1%. It was predicted to rebound and rise by 1%, after two months of extremes. The  Core PCE Price Index edged up by 0.1%, exactly as expected.

Market action is extremely thin on Good Friday. Most financial centers are closed. The level of closure is not as strong as on Christmas Day or New Year’s Eve, but volume is very low.

The revised version of consumer sentiment by the University of Michigan is due for 13:55 GMT, and it is the last indicator for the day, week, month and quarter.

In the past few days, US indicators have disappointed: jobless claims climbed back to the previous high levels, reaching 357K. New home sales fell to an annual pace of 411K, below expectations, and also consumer confidence dropped.

EUR/USD is stable around 1.28, still enjoying the small recovery seen after banks in Cyprus opened up.


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.