Construction spending posts biggest drop in over a year; factory activity slows
U.S. construction spending recorded its biggest drop in more than a year in June as investment in both private and public projects fell, but spending for the prior months was revised sharply higher. The Commerce Department said on Wednesday that...
Housing demand sees biggest drop in more than 2 years
The long list of housing headwinds is finally taking its toll on potential buyers. Housing demand fell 9.6 percent in June, compared with June 2017, according to a monthly index from Redfin. That is the largest decline since April 2016....
Dollar Pares Gain Despite Strong ADP Employment, FOMC Unlikely to Inspire
Dollar pares back some of today’s gain in early US session. The better than expected ADP employment data provides no lift to the greenback. Focus will be turning to ISM manufacturing and FOMC rate decision. Nonetheless, as at the time...
Former hedge fund manager Novogratz’s crypto bank makes stock market debut despite bitcoin bear market
Cryptocurrency-focused merchant bank Galaxy Digital will start trading on a Canadian stock exchange on Wednesday despite cooling investor interest and falling prices this year. Former Goldman Sachs macro trader Michael Novogratz launched the company in November, a month before bitcoin...
Eurozone Mid-Year Economic Outlook
Executive Summary Real GDP growth in the Eurozone slowed modestly in Q2, at 2.1 percent year over year. That said, the manufacturing sector and consumer spending were likely bright spots, and a tight labor market along with slowly rising incomes...
Fed Set For ‘Hawkish Hold’? Trade Back In The Spotlight
Here are the latest developments in global markets: FOREX: The US dollar index is higher by 0.17% on Wednesday, ahead of the Fed policy decision at 1800 GMT, and building on the gains it posted in the previous session. The...
Broken China should scare LatAm
I was only in Europe for a week orso in early July, but when I returned to Latin America the extent to which China had moved up the financial agenda was striking. Latin America can never afford to be insular,...
BOE Expected to Deliver Dovish Rate Hike in August
BOE’s rate hike in August is almost fully priced in. The focus is, thus, on the monetary policy outlook. The upcoming increase of +25 bps is the second one in more than a decade. Although the pickup in growth in...
Five of the scariest predictions about artificial intelligence
While experts are mostly in agreement about the benefits AI will provide medical practitioners — such as diagnosing illnesses very early on and speeding up the overall healthcare experience — some doctors and academics are wary we could be headed...
Dollar Higher as Trade War Heats Up Again, Manufacturing Data and Fed Watched
Dollar trades broadly higher today as talks of trade war heat up again. It’s reported that Trump is considering to impose 25% tariffs on USD 200B in Chinese goods, instead of 10%. The greenback is followed by Canadian Dollar and...
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