CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows
Corporate executives are taking a dim view of their prospects, with a majority now expecting a recession ahead, according to a closely watched business survey released Wednesday. The Conference Board measure of CEO sentiment showed that 57% of respondents expect...
UK Inflation Soars to 9%
Pound slides after CPI report The British pound has taken a tumble after April CPI jumped to 9.0% YoY, up sharply from 7.0% in March. GBP/USD has fallen 100 points today and is trading at 1.2390 in North American trade....
Households are now spending an estimated $5,000 a year on gasoline
A woman rides an electric bike past a gas station as current gasoline prices continues to climb close to record setting territory in Encinitas, California, May 9, 2022. Mike Blake | Reuters U.S. households are now spending the equivalent of...
Dollar Recovers in Tight Range, Sterling Down after CPI
Dollar and Yen are recovering mildly today but overall major pairs and crosses are stuck in very tight range. European majors are the weaker ones, with Sterling having a lower handle. Commodity currencies are mixed. Trading is also quiet in...
Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.
Dollar Holding On to Near Term Support, UK and CA CPI Featured
The forex markets are engaging in sideway trading in very tight range in Asian session. Dollar and Yen remain the weaker ones for the week. But so far, there is not following selling to push them through near term support...
ECB Members Turning More Hawkish. But Do Markets Believe Them?
Governing Council member of the ECB Klaas Knot said that the ECB should raise interest rates in July by 25bps, but a 50bps hike should not be excluded if data suggest that inflation is rising. Money markets immediately jumped to...
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
Jerome Powell, chairman of the U.S. Federal Reserve, arrives for a Senate Banking Committee hearing in Washington, D.C., on Thursday, July 15, 2021. Al Drago | Bloomberg | Getty Images Federal Reserve Chair Jerome Powell emphasized his resolve to get...
Natural Gas Wave Analysis
Natural gas reversed from support level 6.500 Likely to rise to 9.000 Natural gas recently reversed up from the strong support level 6.500, coinciding with the 20-day moving average and the 50% Fibonacci correction of the upward impulse wave (3)...
British Pound Soars on Strong Jobs Data
The British pound continues to rally on Tuesday. GBP/USD is trading at 1.2463 in the European session, up 1.15% on the day. UK employment numbers sparkle The tight UK labor market is getting even tighter, as reflected in the March...