| From xinhuanet.com: The dollar was mixed against major currencies on Monday as oil prices tumbled and U.S. consumer spending slowed on rising prices. The U.S. Commerce Department reported that consumer spending was up 0.6 percent in June, lower than the reading of 0.8 percent in May. When adjusted for the effect of higher prices, consumer spending fell 0.2 percent in June.
The report also showed an inflation gauge tied to consumer spending rose sharply by 0.8 percent in June, the second biggest monthly increase since 1981. Oil prices touched a three-month low on Monday as Tropical Storm Edouard seemed less likely to disrupt oil and natural gas output in the Gulf of Mexico. It eased some concerns on consumer spending and inflation...... Full Article: Source |