USD News

Wholesale inventories in the U.S. rose by more than expected in the month of January, according to a report released by the Commerce Department on Tuesday, although the report also showed a steep drop in wholesale sales. The report said wholesale inventories climbed 0.6 percent in January following an upwardly revised 0.4 percent increase in December.

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While the Commerce Department released a report on Thursday showing a moderate increase in U.S. business inventories in the month of January, the report also showed a notable drop in business sales. The report said business inventories rose by 0.4 percent in January following a 0.5 percent increase in December. The increase in inventories matched economist estimates.

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After reporting a sharp drop in U.S. homebuilder confidence in the previous month, the National Association of Home Builders released a report on Monday showing that homebuilder confidence rebounded modestly in the month of March. The report said the NAHB/Wells Fargo Housing Market Index inched up one point to 47 in March after tumbling ten points to 46 in February.

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With an increase in food prices offsetting a drop in energy prices, the Labor Department released a report on Tuesday showing a modest increase in U.S. consumer prices in the month of February. The Labor Department said its consumer price index edged up by 0.1 percent in February, matching the increase seen in January. The uptick in prices also matched economist estimates.

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After reporting a sharp drop in new residential construction in the previous month, the Commerce Department released a report on Tuesday showing that housing starts saw some further downside in the month of February. The report said housing starts edged down by 0.2 percent to a seasonally adjusted annual rate of 907,000 in February.

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Manufacturing activity in the Philadelphia-area rebounded in March, according to the firms responding to the Federal Reserve Bank of Philadelphia's Business Outlook Survey.

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Suggesting that any weather-related volatility will be short lived, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by more than expected in the month of February. The Conference Board said its leading economic index rose by 0.5 percent in February after edging up by a downwardly revised 0.1 percent in January.

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Manufacturing activity in the Philadelphia-area rebounded in March, according to the firms responding to the Federal Reserve Bank of Philadelphia's Business Outlook Survey. The Philly Fed released a report on Thursday showing that its diffusion index of current activity jumped to a positive 9.0 in March from a negative 6.3 in February.

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Fitch Ratings on Friday maintained the 'AAA' ratings of the United States of America and the 'stable' outlook on the country's ratings, dismissing concerns over a possible downgrade in March. This action resolved the Rating Watch Negative on which the ratings were placed last October, in line with Fitch's previous guidance that this would take place by end-March.

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Manufacturing business conditions in the U.S. continued to improve in the month of March, according to a report released by Markit Economics on Monday, although the index of activity in the manufacturing sector fell by more than expected.

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