Stocks making the biggest moves midday: State Street, Norwegian Cruise Line, iHeartMedia and more
A view of the Norwegian Encore cruise ship during its inaugural sailing from PortMiami, which took place from Nov. 21-24, 2019. Orlando Sentinel | Tribune News Service | Getty Images Check out the companies making headlines in midday trading. State...
Treasury Secretary Janet Yellen to discuss stablecoins with regulators next week
Treasury Secretary Janet Yellen speaks during the daily press briefing on May 7, 2021, in the Brady Briefing Room of the White House in Washington, DC. Saul Loeb | AFP | Getty Images U.S. Treasury Secretary Janet Yellen will meet...
Forward Guidance: Canadian Retail Sales Rebound; Services Take Over as Driver of Spending Growth
The big story next week will be the preliminary read on June retail sales after softer readings in April and May. Our own consumer tracker points to a sizable rebound in June sales, up 5-6% month over month after a...
Strong US Retail Sales; Should the Fed Consider it Transitory?
With easy monetary policy and more money from the government, US consumers are borrowing at low interest rates and spending stimulus checks US Retail sales for June were strong. The headline print was +0.6% vs -0.4% expected. May’s print was...
Why the Fed hates cryptocurrencies and especially stablecoins
Federal Reserve chair Jerome Powell has been testifying on Capitol Hill this week, and it’s pretty clear that he is not a fan of digital coins – especially stablecoins. During a two-day congressional hearing, the Fed chief said the main...
ECB Preview – Aligning Forward Guidance to Strategic Review Outcome
When ECB meets next week, the market attention turns to the implications and new communication on the back of the new strategic framework. We do not expect new policy signals coming from the change in language. We expect an acknowledgement...
Dollar Firms Up Slightly after Retail Sales, Kiwi Still the Strongest
Dollar trades mildly higher in early US session after better than expected retail sales data, but upside moment is weak so far. Mild strength in US futures sends Swiss Franc and Yen slightly lower. Overall, New Zealand Dollar is set...
Yellen sees ‘several more months of rapid inflation’ before easing, worries about housing impact
Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the recent startling inflation run to ease over time,. In a CNBC interview, the Cabinet official added that she worries about...
EUR/USD Pair Started A Decent Recovery Wave From 1.1780
The Euro found support near the 1.1775 zone after a steady decline against the US Dollar. The EUR/USD pair formed a base above 1.1780 and it started a decent recovery wave. It surpassed the 1.1800 resistance level, but it struggling...
GBPJPY Dips Back Below Ichimoku Cloud, Bearish Tone Persists
GBPJPY has been deteriorating for around a month-and-a-half now, logging lower highs and lows from its near 40-month peak of 156.06. The bullish charge in the 50- and 100-day simple moving averages (SMAs) is becoming slightly sluggish, with their slopes...