NZD Jumps on Strong Inflation But Unlikely to be for Long
The annual inflation rate in New Zealand accelerated to 7.3%, a new high since 1990 and above average forecasts for 7.1%. The quarterly price growth of 1.7% also remains elevated, showing no deceleration in the last quarter. Short-term inflation figures...
Oil Clings to Last Support at 200-day MA
Crude Oil has added 3% on Monday after finding support late last week as expectations of a meeting between the US and Saudi leaders did not materialise. The much-anticipated and much-discussed meeting between Biden and Mohammed bin Salman took place...
Weekly Economic & Financial Commentary: This Party Is Breaking Up Fast
Summary United States: This Party Is Breaking Up Fast Signals of a slowdown are starting to flash across sectors. Business and consumer sentiment have faltered, real consumer spending has weakened, housing activity has stalled and business investment is downshifting in...
The Weekly Bottom Line: BoC Delivers Shock 1% Hike
U.S. Highlights Market sentiment soured this week on stronger than expected CPI data and a weak start to corporate earnings season. US CPI accelerated in June, rising 1.3% m/m, pushing the year-ago measure to a new multidecade high of 9.1%....
Euro Eyes US Retail Sales
The euro continues to trade close to the parity line, after breaking below this symbolic level during the week. It marked the first time that EUR/USD fell below parity since 2002. On Thursday, EUR/USD dropped to a low of 0.9952,...
Oil Outlook Bears Leading the Way
As global economic conditions continue to stroll casually towards deterioration, the market scrambles to reappraise the possibility for a recession. Contributing to the worsening of the economic outlook, is the soaring inflation, with year-on-year US consumer price index, reaching levels...
Bitcoin Dipped into a Flat
Bitcoin was down 5% on Tuesday, ending it at around $19,400 and remaining near that level by the start of European trading. Ethereum has lost 3.3% in the last 24 hours to $1055. Altcoins from the top 10 fell from...
Weekly Economic & Financial Commentary: Yield Curve Signals Recession on the Horizon
Summary United States: Payroll Growth Sizzles in June Despite Recession Fears June brought a strong 372K payroll gain, beating the consensus and calming recession concerns. The unemployment rate held at 3.6%. Total job openings remain highly elevated but fell by...
The Weekly Bottom Line: Job Gains Defy Recession Calls
U.S. Highlights Recession calls increased this week, but the job market begged to differ. The U.S. added 372k jobs in June, keeping the unemployment rate at its historic low of 3.6% and amplifying fears about inflation. In contrast, leading business...
Week Ahead – US Inflation on the Menu, BoC and RBNZ to Raise Rates
The summer calm will have to wait a little longer as the coming week is filled with crucial events. Canada and New Zealand are geared to raise interest rates, although their currencies are ultimately at the mercy of global recession...