Trudeau Holds On, Gold Steadies
Canadian Prime Minister Justin Trudeau called an early election in the hope of securing a majority government, but voters didn’t give it to him and instead sent back nearly an identical parliament. The Canadian dollar clawed back ground after the...
US: Housing Starts Increase in August, Recouping Some of Last Month’s Drop
U.S. housing starts rose by 3.9% to 1.615 million (annualized) units in August, after declining by 6.2% in July. This exceeded market expectations for a 1.0% increase. Starts were revised up by 20k in July and 7k in June, reflecting...
Evergrande Fears Fade Aiding USDJPY Ahead Of BoJ
As noted by Canadian Bank RBC, the share price of Evergrande has been under pressure since March, a result of the Chinese property developer colliding with a crackdown on property developers by authorities as part of a deleveraging drive. Already...
US open: Wall Street Tumbles on Evergrande, Fed Tapering Concerns
US stocks traces Europe lower amid concerns over the likely default of Evergrande, China’s second largest real estate developer and the implications for the wider market. Concerns over what the Fed could announce on Wednesday are adding to the downbeat...
European Indices Plunge On China Woes
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Fed Research – Preview: What to Do in a Bad Trade-Off?
Key takeaways The Fed is in a difficult position amid slower growth and still high inflation. Given the weak jobs report and lower-than-anticipated inflation in August, we expect the Fed will refrain from providing more details at this meeting, as...
Musical Chairs at the Fed: Powell or Brainard?
Summary Jerome Powell’s term as Chair of the Federal Reserve is scheduled to end in February, and President Biden will need to decide whom to nominate. Should he stick with Powell or go with someone else? Online betting markets give...
Weekly Economic & Financial Commentary: August Data Holding Up Despite Delta
Summary United States: August Data Holding Up Despite Delta Data released this week generally showed a stronger economy in August than many expected in the wake of surging COVID cases. Retail sales jumped 0.7%, defying expectations for a decline, and...
The Weekly Bottom Line: Blame Both Supply & Demand for Inflation
U.S. Highlights Retail sales surprised on the upside in August, growing by 0.7% month-on-month. This followed a downward revision to the decline in July, but suggests resilience in the face of increased headwinds. Consumer price inflation slowed in August. From...
Week Ahead – All Eyes on the Fed
The week we’ve all been waiting for Next week is action-packed including rate decisions from the US, Japan, UK, South Africa, Turkey, Switzerland, Norway and Sweden. The Federal Reserve is the obvious standout among these, with investors seemingly uneasy at...