US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
US: Second Estimate of Q2 GDP Still Points to Contraction in Economic Growth
The second estimate of second quarter real GDP declined by 0.6% quarter-over-quarter (q/q, annualized). This was a slight upgrade from the -0.9% reported in the advance estimate released last month. The reading came in a touch above the consensus forecast...
Aussie Extends Rally, Europeans Weak, Dollar Consolidates
Dollar is staying soft in consolidation today, as traders are clearly still cautiously waiting for rate clues from Fed Chair Jerome Powell’s Jackson Hole speech tomorrow. Yen is also mixed despite surging benchmark treasury yields. Movements are mainly found in...
Stocks making the biggest moves premarket: Dollar Tree, Peloton, Salesforce and more
Check out the companies making headlines before the bell: Dollar Tree (DLTR) – The discount retailer’s stock slid 6.6% in the premarket after cutting its full-year earnings forecast, due to the impact of pricing-related investments at its Family Dollar stores. Dollar...
USD Still Bullish ahead of Jackson Hole
The markets are slow with stocks stabilized a bit ahead of the Jackson Hole event. The USD bulls also slowed down for a pullback, but technically and fundamentally we do not expect any changes till we get full details and...
There’s No Stopping the Core Bond Sell-off for the Moment
Markets There’s no stopping the core bond sell-off for the moment. UK Gilts remain underperformers with UK money markets betting on aggressive BoE action (4.5% policy rate peak mid-next year). Double digit inflation and the political blame game put BoE...
AUD/JPY Extends Rally, Dollar Turns Softer Again
Dollar turns softer in Asian session today, but stays in familiar range. Traders would likely remain cautious until Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium tomorrow. For now, Aussie and Kiwi are the stronger ones for the...
Nobel prize winner says the U.S. needs a 1950s-style productivity boom
The U.S. needs to return to the kind of economic and productivity growth it saw in mid-20th century to boost public spirits, according to a Nobel Prize-winning economist. “We badly need to get back to economic growth,” Edmund S. Phelps,...
ETHUSD Aims for Recovery as 50-day SMA Caps Decline
ETHUSD (Ethereum) has been experiencing a downside correction after its short-term uptrend failed to cross above the 2,030 region. However, the cryptocurrency found strong support at its 50-day simple moving average (SMA) and is currently attempting to rebound. The momentum...