Euro Softens ahead of ECB, US CPI also Featured
Euro softens broadly today as markets await ECB policy decision. Traders appear to be position for a dovish, or at least cautious, ECB press conference. Nevertheless, Sterling and Dollar are also soft, indicating that the markets are not one sided...
BOC Drew Attention to Rise in Core Inflation
BOC remained positive about the economic outlook despite recent softer data. The members viewed that weakness in the job market was temporary. Meanwhile, they were more attentive to the rise in core inflation. We believe the plan of QE tapering...
Hot inflation may have become scorching in May and is expected to hit a 28-year high
Inflation has been warming up this spring, and it’s expected to hit historical levels for the month of May. The consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according...
‘Impotent’ Fed policy will fail to contain 1970s-type inflation, investor Peter Boockvar predicts
Most people want to forget this part of the 1970s. But inflation is back, and investor Peter Boockvar predicts it will be the most widespread in decades. “Monetary policy … is right now impotent in its ability to stimulate economic...
Biden plan would raise taxes by $213,000 next year on top 1%, analysis finds
Samuel Corum | Getty Images News | Getty Images The top 1% would see their federal taxes rise by more than $213,000, on average, next year as a result of President Joe Biden’s tax plan, according to an analysis published...
The Bank of Canada Maintains Monetary Policy Stance
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Subdued Trading Continues While Treasury Yields Fall
Major pairs and crosses are bounded inside yesterday’s range so far, as quiet trading continues. Dollar is mildly lower but loss is very limited, while Swiss Franc might be picking up some buying again. Stock markets are also treading water...
Mortgage rates drop, but not enough for priced-out homebuyers
A real estate agent and a potential home buyer in Coral Gables, Fla. Getty Images Mortgage rates fell slightly last week, but not enough to light a fire under mortgage demand. Total mortgage application volume decreased 3.1% for the week,...
AUD/USD Outlook: ECB Policy Meeting And US CPI Data Eyed For Fresh Direction Signals
The Australian dollar remains within a narrow range for the third straight day after last week’s sharp fall was quickly reversed, keeping the price at familiar levels. Positive signals from lower US yields were offset by a dovish stance from...
USDJPY Sell The Rally
The US dollar is trapped in a period of price consolidation against the Japanese yen currency, ahead of the release of today’s CPI inflation number from the United States. A bearish head and shoulders pattern appears to be forming across...
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