Live Daily Newsletter
Up-to-the-minute gold market
news, opinion & analysis
“They look at the weathervane for the direction of the wind.” – Sumerian text, ca 1600 BC
Great prices. Quick delivery. All the time.
Contemporary gold and silver bullion coins
Bullion-related historic gold coins
U.S. $20 gold piecesOrder Desk
6am to 5pm USMT weekdays.
Prefer e-mail to get started?
Gold dealers index of gold coin images - popular investments
Category: Economic Data
University of Michigan sentiment (prelim) jumped to 97.6 in Aug, above expectations of 94.0, vs 93.4 in Jul.
U.S. industrial production +0.2% in Jul, below expectations of +0.3%, vs +0.4% in Jun; cap use steady at 76.7%.
U.S. housing starts -4.8% to 1.155M in Jul, below expectations of 1.220M, vs negative revised 1.213M in Jun.
U.S. export price index +0.4% in Jul, above expectations of +0.2%, vs -0.2% in Jun. Import prices +0.1%, in line with expectations.
U.S. retail sales +0.6% in in Jul, above expectations of +0.4%, vs positive revised +0.3% in Jun; ex-autos +0.5% on expectations of +0.3%.
U.S. CPI +0.1% in Jul, below expectations of +0.2%, vs unch in Jun; 1.7% y/y. Core +0.1% on expectations of +0.2%, vs +0.1 in Jun; 1.7% y/y.
U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.
…Though the link between the PPI and the consumer price index has weakened, last month’s drop in producer prices could worry Fed officials who have long argued that the moderation in inflation was temporary.
Fed Chair Janet Yellen told lawmakers last month that “some special factors” were partly responsible for the low inflation readings. Inflation, which has remained below the U.S. central bank’s 2 percent target for five years, is being watched for clues on the timing of the next Fed interest rate increase.
U.S. PPI -0.1% in Jul, below expectations of +0.1%, vs +0.1% in Jun; 1.9% y/y. Core -0.1%, below expectations of +0.2%, vs +0.1% in Jun; 1.8% y/y.
U.S. wholesale sales +0.7% in Jun, above expectations of +0.1%, vs positive revised -0.1% in May; inventories +0.7%.
U.S. Q2 productivity (prelim) +0.9%, above expectations of +0.7%, vs +0.1% in Q1; ULCs +0.6%, below expectations of +1.5%, vs upward revised +5.4% in Q1 (was +2.2%).
U.S. JOLTS job openings surge to 6.163M in Jun, well above expectations of 5.750M, vs upward revised 5.702M in May.
Financial markets reacted positively to Friday’s jobs numbers. 209,000 jobs were created in July, higher than consensus, and the two previous months’ figures were revised upward. The U3 unemployment rate, which most investors are fixated on, fell to 4.3%, matching a 16-year low set in May.
The headlines were sufficient to cause the 10-year US Treasury yield to increase 4 basis points to 2.26%, and for the 2-10 year Treasury spread to rise by 3 basis points. But after you experience the euphoria, look closely below the headlines. There is enough information for the yellow light to flash for investors, the Federal Reserve and the Trump administration.