US Economic Data Give a Small Stimulus to the Dollar

Market Reviews

The Swiss franc has become the strongest major currency for the week, as the US economic data give a small stimulus to the dollar. Personal incomes in the US grew by 0.2% in August, expenses increased by 0.1%, which corresponds to consensus. Headline PCE was unchanged at 1.4% yoy, while core CPI slowed to 1.3% yoy.

The consumer price index in the Eurozone remained unchanged at 1.5% yoy in September. Core CPI fell to 1.1% yoy in September, below expectations of 1.2%. Unemployment in Germany fell by 23 thousand in September. The unemployment rate in Germany fell to 5.6%, reaching its lowest level since January 1992.

Economic indicators of Great Britain showed that GDP increased by 0.3% in the second quarter. Current account deficit widened to GBP -16.9b in Q2.