Homebuilder confidence surges past expectations, as buyer demand remains high
Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, May 5, 2021. Octavio Jones | Reuters Higher prices and longer wait times do not appear to be...
US: Strong Retail Sales Report Pointing to an Early Kick-off to Holiday Shopping Season
Retail sales rose by 1.7% m/m in October, above the consensus forecast of 1.3%. September data, was revised up to an even stronger 0.8% m/m (from 0.7%). Sales in volatile categories were robust, led by gasoline stations +3.9% m/m, which...
Sterling Rises on Solid Job Data, Dollar Firm on Retail Sales
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest...
GBPCHF Rallies After Crossing Above 50-SMA
GBPCHF has been surging in the short term as its positive momentum strengthened after the price surpassed the 50-day simple moving average (SMA). However, this recent rally has not been sufficient to reverse its medium-term downtrend. The pair is likely...
El-Erian says he bought bitcoin but sold too early — here’s when he’d feel comfortable buying again
Famed economist Mohamed El-Erian says he bought some bitcoin a few years ago — but misjudged when to sell due to “behavioral mistakes.” The Allianz chief economic advisor revealed he purchased an unspecified amount of bitcoin in the “crypto winter”...
Slight Improvement In US-China Diplomatic Relations
Market movers today Today’s highlight will be the US retail sales which have continued to surprise on the upside in recent months. Elevated US goods consumption remains an important driver behind the global supply chain pressures and today’s figures will...
Euro Selloff Intensified on Dovish Lagarde, Could EUR/USD Defend 1.13?
Euro tumbled broadly overnight, riding on dovish comments from ECB President Christine Lagarde. In short, Lagarde continued to talk down the need of early stimulus withdrawal and warned of the hurt to recovery for doing so. Swiss Franc is currently...
Market Morning Briefing: Euro Has Fallen Sharply Breaking Below 1.14
STOCKS Dow can dip to 35000 while below 36250 while Dax could be headed towards 16400 while above 16100.Nikkei and Shanghai can rise towards 30000/31000 and 3600 respectively if they continue to rise from current levels. Nifty and Sensex need...
Fed is losing credibility over its inflation narrative, Mohamed El-Erian says
The Federal Reserve is losing credibility over its long-standing view that inflation is transitory, according to Mohamed El-Erian, chief economic advisor at Allianz. “I think the Fed is losing credibility,” El-Erian said Monday. “I’ve argued that it is really important...
Japan: Expect Stronger Economy But Softer Currency
Summary Japan’s GDP contracted in Q3, not an unexpected result considering a state of emergency remained in effect for Tokyo and the surrounding areas through until the end of September. Weakness was evident in both consumer spending and business investment....
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