Pound Drifting ahead of Manufacturing PMI
The British pound is almost unchanged on Wednesday. In the European session, GBP/USD is trading at 1.3838, down 0.01% on the day. British GDP, which was released earlier today, was a yawner as far as the British pound was concerned....
US Open: Futures Decline as ADP Payrolls Beat
US futures ease back from record highs. ADP beats forecasts at 692k, but investors wary ahead of Friday’s NFP. US futures Dow futures -0.17% at 34237 S&P futures -0.13% at 4286 Nasdaq futures -0.09% at 14562 In Europe FTSE -0.5%...
Sweden’s In Trouble, And It Has Nothing To Do With Euro 2020
Sweden may be playing for a chance to advance in the Euro 2020, however the futbol team can’t help the current situation on the political pitch. Sweden’s prime minister Stefan Lofven has resigned after losing a no-confidence vote in parliament....
Will Canada’s GDP Weigh on Canadian Dollar?
The Canadian dollar has declined for a second straight day. In the North American session, USD/CAD is trading at 1.2386, up 0.46% on the day. Canada’s GDP expected to decline Canada releases the April GDP report on Wednesday. In March,...
OPEC+ Raising Output Levels Amid Lingering Uncertainty
Markets Trading took a guarded start yesterday. Eco data were few. Spain and Portugal prolonging travel restrictions was a reminder that Covid related risks might still resurface and didn’t help to revive an already hesitant reflation trade. European equities lost...
NZD Slips, Business Confidence Next
The New Zealand dollar has started the week in negative territory. In the North American session, the pair is trading at 0.7048, down 0.27% on the day. NZD/USD climbed 1.85% on the week, its best weekly showing since November 2020....
Quiet Start To A Busy Week For Global Markets
Most currency pairs confined to tight ranges, stocks set for new records Sterling opens a touch higher as Britain gets a new health minister Big week ahead, featuring an OPEC meeting and a US employment report Wall Street set for...
Weekly Economic & Financial Commentary: Eventual Tapering to Send Rates Higher, but a Tantrum, à la 2013, Less Likely
Summary United States: The Moderation in Home Sales May Hold Some Lessons for the Broader Economy Home sales moderated further in May, but home prices continue to rise. The astonishing surge in prices has reduced affordability at a time when...
The Weekly Bottom Line: Inflation Continues to Heat Up
U.S. Highlights Personal spending held flat in nominal terms in May and fell 0.4% after removing inflation. Looking under the hood, the shift in spending from goods to services continued in the month. Headline and core PCE inflation rose to...
Week Ahead: Non-Farm Payrolls, Infrastructure Spending and OPEC+ Headline the Week
The BOE was “on hold” last week as most committee members felt that recent higher inflation readings were transitory. And after the hawkish-leaning FOMC meeting 2 weeks ago, the US Fed paraded out speaker after speaker last week to hammer...