Powell Pontificates, but Pulls his Punches as Predicted
In yesterday’s article, we highlighted the crosswinds impacting today’s speech by Fed Chairman Powell at the Jackson Hole Symposium, eventually concluding that, “Powell [should] maintain the same optimistic perspective he espoused at his Congressional testimony last month”. As it turns...
Australia & New Zealand Weekly: RBA Cash Rate to Remain on Hold in 2020
Week beginning 27 August 2018 Westpac extends forecast to 2020 – RBA cash rate to remain on hold in 2020. Australia: dwelling approvals, capex, credit. NZ: residential building consents, business confidence. China: official NBS PMI’s. Europe: CPI, employment, ECB Chief...
Week Ahead – US PCE inflation, Aussie Capex and Canadian GDP to Highlight Another Muted Week
As summer draws to a close, it will be another lacklustre week for economic data in the coming seven days. The biggest weight will therefore fall on PCE inflation numbers out of the US, GDP figures from Canada and Australian...
Weekly Focus: Troubles in Emerging Markets
Market Movers ahead Inflation releases in the euro area and the US are in focus this week. In the US, PCE core inflation continued to tick upwards to 2.0% y/y in July. In the euro area, headline inflation is set...
US: Big Old Jet Airliner, Don’t Carry Me Too Far Away
Durable goods orders fell 1.7 percent in July, a bigger drop than was expected. Aircraft orders accounted for most of the weakness though, with bookings off more than 34 percent in both civilian and military orders. Otherwise a Mostly Good...
Dollar Loses Ground ahead of Powell’s Jackson Hole Speech; Oil Rallies
Here are the latest developments in global markets: FOREX: Dollar/yen pulled back below a two-week high of 111.48 reached early today, falling to 111.30, near Thursday’s close price ahead of Powell’s Jackson Hole speech. The dollar index, which measures the...
Pound Edges Higher ahead of US Durable Goods
The British pound has reversed directions on Friday session and posted gains. In North American trade, GBP/USD is trading at 1.2845, up 0.26% on the day. On the release front, the number of mortgages approved by major UK banks dropped...
USD/CAD – Canadian Dollar Stems Slide, U.S Durable Goods Next
The Canadian dollar is steady in the Friday session, after recording sharp losses on Thursday. In North American trade, USD/CAD is trading at 1.3066, down 0.11% on the day. On the release front, investors are braced for mixed results from...
Japanese Yen Dips, Inflation Reports Next
The U.S dollar has posted broad gains in Thursday trade, and USD/JPY has also moved higher. In the North American session, the pair is trading at 111.14, up 0.53% on the day. In the U.S, employment claims edged lower to...
Japanese Inflation to Tick Up in July But Still Has Long Road to the Target
Japan’s Statistics Bureau will be releasing inflation readings for the month of July at 2330 GMT and while the Bank of Japan’s monetary policy remains super accommodative, inflation has been stubbornly refusing to pick up steam towards the central bank’s...
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