Chinese may be cutting back on spending. But there’s one area that continues to grab wallet share
Blend Images – Jade | Getty Images An increase in spending by “young free spenders” in China are helping the local fitness industry, according to McKinsey’s bi-annual survey of the consumer released Thursday. Despite U.S.-China trade tensions and a slowdown...
Fed’s Williams says repo operations working well and should stay in place ‘just as long’ as needed
New York Fed President John Williams said the short-term lending market is functioning well, and the Fed should keep its repo operations in place just as long as needed. The repo market is the basic plumbing of the financial system,...
A Trump impeachment bad for your finances? Depends on your politics
If you’re concerned that your fellow Americans may be worried about a potential hit to their pocketbooks from impeachment of President Donald Trump, the most recent consumer confidence reading could lead you to spend more money and much less time...
Canadian Dollar Supported by CPI and Oil Price, European Majors Weak
Canadian Dollar is trading as the strongest one for today, as helped by resilience in oil price and solid consumer inflation data. Dollar is currently following closely as the second strongest. On the other hand, European majors are the weakest...
Dollar and Yen Mildly Higher, Sterling Weak ahead of CPI
Dollar and Yen trade mildly higher in Asian session as markets turned into mild risk avers mode. Sterling remains the weakest one on concern of another Brexit cliff-edge at the end of transition period. The Pound will face another test...
US housing starts rise more than expected, with permits at a 12-1/2-year high
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy. Housing starts rose 3.2% to a...
US manufacturing production rose more than expected in November
A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters...
Euro and Swiss Lifted by Pull Back in Sterling, Dollar Mixed
Sterling’s pull back extends deeper today on renewed Brexit concern. Setting a hard deadline of December 2020 for trade negotiations UK and EU could create another Brexit cliff-edge. Meanwhile, Australian and New Zealand Dollars follow the Pound as next weakest,...
BOE Preview – Members might Set a Dovish Tone while Leaving Rate Unchanged
BOE will likely leave the Bank rate unchanged at 0.75% this week. There will be no press conference or inflation report accompanying the meeting. However, it will be interesting to see if the members adjust its tone after UK elections....
Sterling Extends Retreat on Johnson’s New Brexit Move, Aussie Soft on RBA
Trading in the forex markets continue to be relative quiet today. Sterling is mildly softer as consolidations continues. It’s weighed down slightly by Boris Johnson’s move to block transition period extension. Australian Dollar is the second weakest after RBA minutes...
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