Global Newsbrokers Forex Service
New York open at 14:04:02
MPC, ECB RATES ON HOLD; US SALES RISE
Thursday, January 13
No surprises from either the MPC of
the ECB today, with both as expected
leaving their interest rates on hold.
This afternoon's comments from ECB
chief Trichet are now awaited, while
the MPC minutes in two weeks' time
will be studied for any further talk
of a cut in rates.
Meanwhile, strong US car sales boosted
overall retail sales by a stronger-
than-expected 1.2 per cent in
December. However, sales excluding
autos were up an in-line 0.3 per cent.
For the whole of 2004, retail sales
rose by 8.0 per cent. This was the
best rate since 1999, although such
strength does risk fuelling worries
about demand for imports in the wake
of yesterday's trade data.
Meanwhile, import prices fell by 1.3
per cent in December. This was the
steepest drop since April 2003 as the
oil price retreated.
Also released, new weekly jobless
claims rose by 10,000 to 367,000,
which will disappoint the market as a
decline had been anticipated after
last week's surge. The 4-week average
rose by 12,750.
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