New York Session – September 30, 2010 4:14 PM

The U.S. dollar traded mixed as the month and quarter came to a close and while the economic data stream came in stronger than expectations. Final 2Q GDP was revised to +1.7% from the prior +1.6% while the market was expecting it to remain at +1.6%. 2Q final personal consumption came in higher than the expected +2.0% with a print of +2.2% (prev. +2.0%). Weekly initial jobless claims were released this morning with a better than expected reading of 453K (cons. 460K). Though the prior week’s number was revised slightly higher to 469K from the previous 465K, the 4-week moving average experienced its fifth straight decline to 458K. Later on, September Chicago PMI posted a strong 60.4 reading, up from the August print of 56.7 and much better than the expected decline to 55.5. On balance, the data was positive and equities came off as expectations of further Fed stimulus eased. Full text » | Technorati | Stumble It!


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