The Fed Is Still On Track For Two More Rate Hikes
Market movers today It is time for euro area Flash PMI for July. PMI manufacturing has declined every month this year and we look for another small decline in the July reading from 54.9 to 54.4 as trade worries are...
Euro-Zone’s Consumer Confidence Cooled In July
For the 24 hours to 23:00 GMT, the EUR declined 0.44% against the USD and closed at 1.1691. Data indicated that Euro-zone’s preliminary consumer confidence index dropped to -0.6 in July, less than market consensus for a drop to a...
US: Existing Home Sales Continue to Disappoint, Decline for the Third Straight Month in June
Existing home sales disappointed expectations again, falling 0.6% to 5.38 million in June from a slightly downwardly-revised 5.41 million in May. Economists had expected a slight uptick of 0.2% in June. The pullback was again concentrated in the single-family segment,...
British Pound Quiet at Start of Week
The British pound is down slightly in the Monday session, after posting strong gains on Friday. In the North American session, the pair is trading at 1.3112, down 0.17% on the day. On the release front, it’s a quiet start...
Gold: Yellow Metal Trading On A Stronger Footing In The Morning Session
For the 24 hours to 23:00 GMT, Gold rose 0.58% against the USD and closed at USD1229.80 per ounce on Friday, amid weakness in US dollar and US equities. In the Asian session, at GMT0300, the pair is trading at...
Crude Oil: Oil Trading Flat In The Asian Session
For the 24 hours to 23:00 GMT, Crude Oil declined 2.14% against the USD and closed at USD68.10 per barrel on Friday. Separately, fresh figures from Baker Hughes disclosed that the number of active US oil rigs fell by 5...
Weekly Economic and Financial Commentary: Slack Remains in the Economy, but Signs of Tightening
U.S. Review Slack Remains in the Economy, but Signs of Tightening Retail sales rose 0.5 percent in June, while May’s gain was revised up from 0.8 percent to a robust 1.3 percent. The overall strong pace of retail sales growth...
The Weekly Bottom Line: Happy-Go-Lucky Fed Presses On With Rate Hikes
U.S. Highlights Economic data was a mixed bag this week: retail sales were a bright spot, but housing starts unexpectedly plunged in June. Trade developments continued to make headlines, with Donald Trump announcing he was prepared to extend duties on...
Dollar Rally Ends With Trump Monetary Policy and Currency War Comments
The USD fell against major pairs on Friday after US President Donald Trump tweeted that China and the EU manipulate their currency. Trade war escalation has reached a second phase at a time when American politics are having an identity...
Week Ahead – US GDP Growth Expected To Surge In Q2, ECB Meets – Can It Bring Relief To Sliding Euro?
The preliminary estimate of US GDP growth for the second quarter and the latest monetary policy meeting by the European Central Bank will be the most keenly awaited events of the next seven days. While there should be plenty of...
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