AUDUSD Edges Higher Within Symmetrical Triangle; Neutral in Medium-Term
AUDUSD is finding strong support near the short-term ascending trend line and the 0.6855 barrier, after it spiked towards a new six-week low at 0.6840. The RSI indicator is gaining some momentum, mirroring the market’s bullish behavior over the past...
Australian Retail Sales Post Surprise Bounce
July sales: +1.3%mth (market +0.3%), 16.5%yr. Rate hikes, sentiment slump yet to impact. The ABS preliminary estimates of official retail sales showed a much stronger than expected 1.3% gain in July. That compares to a subdued 0.2% rise in June...
Beyond student loan forgiveness, here’s what the government can do to keep the rising household debt in check
On Aug. 24, President Biden announced the cancellation of $10,000 in federal student loan debt for most borrowers making less than $125,000 annually. But student loans account for less than 10% of household debt in America, which reached $16.15 trillion...
Fed Powell Brought Risk Aversion Back, Dollar Ready for More Upside
In terms of prompting market volatility, Fed Chair Jerome Powell didn’t disappoint. Stocks suffered steep selloff after his Jackson Speech. While Australian Dollar was still at top of the chart, most of its earlier gains evaded on Friday, and looks...
Week ahead: The Last of the “Dog Days of Summer”
Powell ultimately didn’t say anything new, so this week’s price action is likely to shift from a focus on Fedspeak to underlying economic data… Well, that was an ugly end to an otherwise quiet week for risk assets! Equity and...
The Weekly Bottom Line: Powell Stands Firm on Higher Rates
U.S. Highlights Fed Chair Jay Powell’s hawkish remarks at the annual Jackson Hole conference did not sit well with equity markets. The second estimate of Q2 GDP data showed that the economy contracted slightly less, and that GDP grew modestly....
Weekly Economic & Financial Commentary: Powell Delivers Hawkish Message at Jackson Hole
Summary United States: Economy Still Climbing the Mountain The second estimate of Q2 real GDP posted a 0.6% quarterly decline, slightly better than the first-reported 0.7% drop. New home sales fell 12.6% in July, reflecting the ongoing downshift in housing...
Forward Guidance: Canadian GDP Growth Slowing into the Summer
Canadian GDP likely rose in the second quarter—but the trend is unlikely to last. We expect annualized growth jumped to 4.5% from the 3.1% reported in Q1. Spending on services (particularly in the travel and hospitality sectors) surged higher following...
Fed Chair Powell on the path for policy
At the Federal Reserve Bank of Kansas City’s Jackson Hole Symposium, Federal Reserve Chair Jay Powell gave a much-anticipated speech titled, Monetary Policy and Price Stability. Chair Powell spoke on the state of the economy, reiterating that “while the latest...