US housing starts rise; single-family segment remains weak
U.S. homebuilding rebounded in November, driven by a surge in multi-family housing projects, but construction of single-family homes fell to a 1½-year low, pointing to deepening housing market weakness that could spill over to the broader economy. The report from...
Canadian Dollar Steady ahead of Manufacturing Sales
USD/CAD is unchanged in the Tuesday session. Currently, USD/CAD is trading at 1.3400, down 0.08% on the day. On the release front, Canadian manufacturing sales is expected to tick higher to 0.3%. In the U.S, the focus is on construction...
Capital markets: Happy new year?
For any European capital markets bankers mulling their prospects in 2019, here are a couple of sobering statistics. First, debt. Through its quantitative easing (QE) programme, the European Central Bank has been hoovering up about €8 billion to €9 billion...
Chance of recession rises to the highest level of the Trump presidency: CNBC Fed Survey
In a sharp change toward a darker outlook, respondents to the CNBC Fed Survey have boosted the chance of recession next year to the highest level of the Trump presidency, reduced their support for the president’s handling of the economy...
XAU/USD Outlook: Spot Gold Pressures Key Barriers, Supported by Expectations of Dovish
Spot gold retests $1250 barrier (10 Dec high) on Tuesday, in extension of previous day’s rally, signaling full retracement of $1250/1232 corrective phase and possible continuation of larger uptrend from $1196 (13 Nov low). Bulls eye key barriers just above...
Can The Fed Salvage The Santa Rally?
Can the Fed deliver a late festive surge? US equity markets are poised to open a little higher on Tuesday, paring losses on another bad day for Wall Street but how long will it last? There is a lot of...
BOJ: Loss in Communication Hinders Policy Effectiveness
The government of Japan downgrades its forecasts on GDP growth and inflation for the coming years. This evidences the failure of the transmission mechanism of the monetary policy adopted by the Bank of Japan. We believe the central bank has...
Yen Trading Higher as Risk Aversion Spreads from US
Yen is trading as the second strongest one for today, next to New Zealand Dollar, as risk aversions spread from the US to Asia. There were continuous rhetorics from Trump’s administration against Fed’s rate hikes. But the fact that Dollar...
BOE Probably Turns More Cautious amid Brexit Uncertainty
At the meeting later in the week, BOE would most likely leave the Bank rate unchanged at 0.75%. It would also keep the purchases of gilts and corporate bonds remain at 435B pound and 10B pound, respectively. BOE sounded hawkish...
Brexit Update: Corbyn Submits Symbolic No-Confidence Motion
Another week, another Brexit speech from UK PM Theresa May to a skeptical Parliament. In comments to the House of Commons earlier today, May said that staging a second referendum “would say to millions who trusted in democracy that our...
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