EUR/USD: Surge above 1 20? Not so fast, Lagarde may lower the euro forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.
AUD/USD lost its traction after climbing to 0.7750 area. US Dollar Index posts small daily gains around 92.00. Investors await 10-year US note auction at
GBP/JPY advanced to its highest level in 14 months on Tuesday. Risk-averse market environment helps JPY find demand on Wednesday. BoE's Ramsden says they
Personal Income and Spending
Personal Income and Spending provide markets with a more more comprehensive view of their specific categories than older versions of the same information.
Personal Income includes wages and salaries, interest, dividends, rent, workers compensation, proprietors earnings and government transfer payments. That is much longer list, and a more accurate representation of household finances than the Average Hourly Earnings statistic of the payroll report.
Yet from a market perspective the difference is in degree and not in kind. Personal Income does not provide different information nor does it stray from the direction of wages. Its additional accounting may make consumer spending more understandable even in weak labor markets but for most people their income is still largely wages.