Warren Buffett rips Wall Street for turning the stock market into ‘a gambling parlor’
Berkshire Hathaway CEO Warren Buffett lambasted Wall Street for encouraging speculative behavior in the stock market, effectively turning it into a “gambling parlor.” Buffett, 91, spoke at length during his annual shareholder meeting Saturday about one of his favorite targets...
Dollar Index Hit Two-Decade High as Focus Turns to Fed Hike
Dollar ended up as the strongest one last week, having the best week since 2015 and with Dollar index hitting a two-decade high. Though, the rally somewhat slowed towards the end of the week. It could be a result of...
Emerging Risks Could Submerge Global Growth
Summary In our April International Economic Outlook, we highlighted how China’s commitment to its “Zero-COVID policy is a key theme as well as a major risk to the 2022 global economic outlook. Lockdowns, in our view, make China’s official GDP...
Weekly Economic & Financial Commentary: How Much Will the Fed Tighten Next Week?
Summary United States: GDP Head Fake Obscures Otherwise Intact Fundamentals In a jampacked week of economic data, Thursday’s negative GDP growth print took center stage. The U.S. economy contracted at a 1.4% annualized rate in Q1-2022. The weak headline figure...
Core PCE Levels Off, But the ECI May Have the Fed More Concerned
The US released what is considered to be the Fed’s favorite measure of inflation on Friday, the Core PCE Price Index. The March print was 5.2% YoY vs 5.3% YoY expected and 5.3% YoY in February. The headline PCE Price...
Dollar Consolidates Gain after Strong PCE Inflation Data
Lots of important economic data are released today but they’re largely ignored. Inflation data from the US and Eurozone are strong. Canada’s monthly GDP growth was well above expectation while Eurozone GDP growth turned weaker in Q1. But reactions to...
Dollar Paring Gains, Canadian Turning Stronger ahead of GDP
Dollar is paring some gains today but remains the strongest one for the week. Canadian Dollar is currently the second best. Euro is trying to recover but remains the second worst, just next to Sterling. Yen is trying to recover...
Cliff Notes: A Singular Focus
Key insights from the week that was. In Australia this week, the market had a singular focus – inflation. The Q1 CPI report did not disappoint, with both headline and trimmed mean core inflation coming in ahead of our top-of-the-market...
Dollar Staying Firm Despite Unexpected US GDP Contraction
Dollar’s broad based rally continues into US session. The unexpected contraction of Q1 US GDP might give the greenback a little jitter. But it’s unlikely to alter the up trend for now. As for today, Canadian Dollar is the second...
US Oil Bounces Off Support
WTI crude found support from a lower-than-expected increase in stockpiles. The price has held well around 94.00 at the base of the flag consolidation from the daily chart. The uptrend is still intact and the bulls may see the pattern...