Based on the latest producer price index monthly report, which was published yesterday, the PPI for finished goods sharply fell again by 0.7% in April compared with March’s index. This report serves as an indicator for the changes in the U.S CPI to be published today. This is the second month this year in which the PPI fell. Last month, the PPI fell by 0.6%. On an annual scale, the…
Retails and foods services sales changed direction and slightly rose for the fifth time in six months; the index edged up during April 2013 by 0.1% compared with March’s sales and also remained above the sales at April 2012. The U.S. Department of Commerce (pdf file) published yesterday its monthly update on the developments in the U.S. retail and food sales for April 2013. This report adjusts for seasonal variances…
The future price of natural gas (short term delivery) continued to plunge during most of last week mainly at the beginning and the end of the week. By the end of the week the Henry Hub future (short term delivery) fell by 3.24%. According to the latest EIA natural gas storage report, the natural gas storage rose at a faster pace than the average five years did during the same…
The U.S. employment rose by a higher than anticipated pace – based on ADP estimate, the non-farm payroll rose by 119k during April: According to the latest U.S. employment report, which was published today, May 3rd by the Bureau of Labor Statistics the number of non-farm employees rose by 165,000. The main sectors that grew during April were in professional and business services, retail trade, food services and drinking places,…
The Fed left its policy unchanged for May. The FOMC concluded its two day meeting on May 1st. Based on the recent FOMC statement, The Fed decided to continue its asset purchase program that includes purchasing agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month. The Fed will keep its short term rate of 0 to…
Natural gas future price (short term delivery) changed direction and tumbled down during most of last week. By the end of the week the Henry Hub future (short term delivery) fell by 5.81%. Based on the latest EIA natural gas storage update, the natural gas storage rose slightly lower than the average five years did during the parallel week: The NG storage injection was 30 Bcf. In comparison, during the…
The bureau of economic analysis published today April 26th its first estimate of the growth rate of the U.S. Gross Domestic Product for Q1 2013. Based on the recent report, U.S output of goods and services growth rate rose by an annual rate of 2.5% in Q1 2013 – this result is lower than what many economist had predicted. This growth rate is still much better result than the growth…
The U.S. Census Bureau reported (opens pdf) today on the developments in number of new homes sold in the U.S during March 2013: the number of new homes sales declined compared with the number of new homes sold during February 2013. The recent rise in the number of homes sold show the progress in the housing market continues. Let’s analyze the effect this news may have had on commodities and…
Natural gas future price (short term delivery) declined during the first part of the week only to changed course and sharply rose by the end of it. By the end of the week the Henry Hub future (short term delivery) increased again by 4.41%. Based on the recent EIA natural gas storage update, the natural gas storage changed direction and rose, much like the average five years did during the…
Based on the latest U.S. Census Bureau report regarding the new residential construction statistics for March 2013, the annual rate of housing starts rose while rate of building permits slipped. This report sends a mixed signal as to the growth in the housing market. Privately owned Housing starts rose in March 2013: the seasonally adjusted annual rate settled at 1,036,000 compared with the revised rate of 968,000 in February 2013…
