Corporate foreign exchange news

Forex risk management strategists brace against US output data

Thursday, 15 July 2010 19:48:02 GMT

Published by Jamie Jemmeson
Industrial production in the US fell for the first time in a year in June, according to a poll of economists conducted by Bloomberg ahead of the publication of output figures later today (July 18th).
The survey was answered by 76 leading economists and the median forecast for June was a 0.1 per cent decline in industrial production, despite a 1.3 per cent jump in May.
However, not all respondents were entirely gloomy about the country's economic prospects.
"Sure we've lost some momentum in manufacturing over of the last month or two, but in general things continue to grow, just not quite as fast as they had," said Russell Price, a senior economist at Ameriprise Financial in Detroit.
Yesterday, the minutes of the latest Federal Reserve meeting provoked a flight to safety across the markets, with forex risk management strategists returning to haven currencies and sending high-yielders lower.
Other key US data to watch today will be the monthly unemployment claims figures and the producers' price index.
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