Forward Guidance: Manufacturers Feeling the Squeeze; Businesses to Report Q2 Conditions
Next week’s flash manufacturing sales report is expected to show a dip in April, weighed down by another sharp pullback in auto production due to the ongoing global semi-conductor shortage. Overall manufacturing hours worked also fell 1.1% in the month....
Week Ahead – PCE Inflation Might Turn Heads as Long March to June Looms
Markets just got their first acknowledgement by the Fed that it may soon need to begin discussions on tapering. However, further clarification is unlikely to come before the next FOMC meeting in June so as we head into a quiet...
EU-China Controversies Halts Market Access Treaty
Market movers today Markit will release May Flash PMIs for both Euro Area and the US. Euro Area indices are expected to continue rising as restrictions have been eased further. Survey medians expect US figures to tick down slightly following...
Canadian Dollar Rebounds, Retail Sales Next
The Canadian dollar has reversed directions on Thursday and posted gains. In the North American session, USD/CAD is trading at 1.2076, down 0.46% on the day. On the fundamental front, the Canada ADP employment report for April posted a sharp...
European Open: Japan’s Exports Rise To 11Yr High, Futures Point To Firmer Open
Whilst Japan’s rising exports are good for domestic growth (after GDP contracted in Q1) it also points to increased global demand. Asian Indices: Australia’s ASX 200 index rose by 84 points (1.21%) and currently trades at 7,015.70 Japan’s Nikkei 225...
Another Bounce in Eurozone PMIs Could Further Fuel Euro Rally
After long winter shutdowns, virus-stricken Eurozone countries are finally emerging out of lockdown and the vaccination drive is accelerating. The further lifting of virus restrictions in May likely boosted economic activity across the region and this is expected to be...
Europe Heads Lower On Inflation Fears, Weaker Commodity Prices
European markets are trading sharply lower on Wednesday, after a late sell-off on Wall Street. Inflation fears continue to haunt the market, while a sell-off in commodities sends resource stocks southwards. Wall Street experienced a significant sell-off, led southwards by...
Pound Gains Bullish Traction ahead of Data Releases
British Chancellor Rishi Sunak expressed in an exclusive interview last week that post-Brexit Britain can look forward to a flourishing future as hopes and opportunities are rising again after a harsh start to the year. Following a robust employment report,...
Bumper Jobs Data Boosts GBP/USD to 1.42
The UK labour market appears to have turned a corner. The latest jobs data painted an improved picture. Unemployment unexpectedly declined to 4.8% in the three months to March, down from 4.9% in February and also its third straight monthly...
Asian Open: Wall Street Edges Lower, GBP Firmer As UK Reopens
Wall Street edged lower overnight, giving back some on Friday’s strong gains, whilst yields ticked higher and the British pound was the strongest major as the UK eased lockdown restrictions. Asian Futures: Australia’s ASX 200 futures are up 11 points...