China says the latest U.S. move is aggravating tensions in the South China Sea
U.S. Navy multirole fighter landing on the flight deck of USS Ronald Reagan (CVN-76) aircraft carrier as it sails in South China Sea Oct. 16, 2019. Catherine Lai | AFP | Getty Images China said Tuesday that the latest U.S....
U.S. budget deficit hits all-time high of $864 billion in June
Treasury Secretary Steve Mnuchin with national debt signage in background. Tom Williams | CQ Roll Call | Getty Images The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus...
Homebuilders just saw the strongest June sales since the last housing boom, as pandemic pushes more buyers to the suburbs
A construction worker wearing a protective mask moves bricks to the back of a house as they resume construction on a home in Bloomfield Hills, Michigan, May 7, 2020. Emily Elconin | Bloomberg via Getty Images It is the perfect...
Reasons to be fearful: bank second-quarter results
With the second quarter of 2020 drawing to a close and all the new alternative data footfall trackers showing economic activity picking up in the US and Europe, investors are starting to look forward to the undoubted highlight of their...
Pound Eyes UK GDP Rebound But Data to Stress Steep Mountain to Climb
Economic data out of the United Kingdom will be flooding the markets over the next few days with Tuesday’s monthly GDP print being the main highlight. The scheduled releases on growth, production, inflation and employment should reveal how the economy...
Dollar Index Outlook: Dollar Remains at Back Foot on Optimism Over Economic Recovery
The dollar remains in red on Monday and probes again through cracked 200WMA (96.30), pressuring supports at 96.18/16 (Fibo 76.4% of 95.68/97.78 / last Thursday’s low). Larger downtrend remains intact, with past three weeks action in red and today’s fresh...
Yen Down Further on Risk Appetite, Sterling Also Weak
Risk appetite is generally firm today with European indices trading in black while US stocks also open higher. Rebound in oil prices help push Canadian Dollar to be the strongest one today, followed by Australian. On the other hand, Yen...
AUDUSD Still Consolidating; Unable to Break above Upper Channel
AUDUSD has been consolidating since June 16 and has been stuck in a channel tilted slightly to the upside. The neutral to bullish picture in the short term looks to last for a while longer after prices failed to break...
Much Higher German Wholesale Prices
Earlier this morning, June German Wholesale price index was released at +0.6% on month. It was expected at -0.6%. On a yearly basis, it was published at -3.3%, vs -4.3% expected. Tomorrow, June inflation rate will be expected at +0.9%...
BOC to Turn More Upbeat about Economic Recovery, While Caution about Uncertainty and Keep Monetary Policy Unchanged.
At the BOC meeting this week, we expect new Governor Tiff Macklem to continue Stephen Poloz’s legacy and leave the policy rate unchanged at 0.25%, the effective lower bound. The asset purchases programs (QE) will also be maintained. Canada’s reopening...
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