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Prior -$6.17 billion; revised to -$3.17 billionThe current account deficit widened in Q2 but less than anticipated at least. Of note, the trade in goods balance moved into a deficit position for the first time in two years, mostly as a result of lower exports of...
It's the final day of the month and it's a busy one on the economic calendar with a wave of numbers coming out at the bottom of the hour including:July PCEInitial jobless claimsCanadian Q2 current accountCanadian avg weekly earningsThe PCE reprot is the Fed's...
Headlines:Markets:JPY leads, EUR lags on the dayEuropean equities higher; S&P 500 futures up 0.3%US 10-year yields down 2.2 bps to 4.096%Gold up 0.1% to $1,944.28WTI crude up 0.9% to $82.37Bitcoin up 0.3% to $27,350There was plenty of action to digest in European...
Cardano (ADA) is a popular cryptocurrency that has gained significant attention in the digital asset market. Its price is influenced by various factors that impact its demand and supply dynamics, regulatory developments, competition from other cryptocurrencies,...
Members concurred that there was ample evidence that policy tightening was being transmitted strongly to broader financing conditions, including bank lending rates and money and credit flowsIt was felt, however, that, on the one hand, the decline in economic activity...
Job cuts are seen reaccelerating again after showing a first year-on-year decrease in July. And that further signals easing of labour market conditions with there being 557,057 job cuts already announced by US-based employers this year. That is a 210% increase from...
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M figures...
It is only the Japanese yen that is trading higher against the dollar today and that owes to bond yields keeping slightly lower still in European morning trade. USD/JPY is down 0.25% around 145.80-90 levels mostly, as we are seeing 10-year Treasury yields be down 1.6...
EURO AREA INFLATION KEY POINTS:Key News and Data Releases this Week, Download Your Free Guide for Tips on News Trading. Recommended by Zain Vawda Trading Forex News: The Strategy Get My Guide The core inflation rate in the Euro Area (filters out volatile food and...
The strong US data in the past months and the quick rise in Treasury yields and the US Dollar weighed a lot on Gold, which threatened at some point a complete breakdown. Recently, we started to see a turnaround in the data beginning with the miss in the US PMIs last...
Data shows that inflation is still persistentWe are not yet at the highest level for ratesAnother one or two rate hikes is still possibleThere's no uniform message from the ECB as of late and this latest round of remarks by Holzmann is but another testament to that....
In trying to retain their dollar earnings as the yuan stumbles, Chinese exporters are resorting to using currency swaps to manage that. According to China's FX regulator, domestic firms swapped a record $31.5 billion for yuan with banks in the onshore forward market...
“September is the worst month of the year for Equities, period; median return for 500 since 1928 is -1.56% “. This was the warning from the Goldman Sachs research department a few days ago after a difficult month for stock indices. To be fair, the...
This comes after the Eurozone inflation data shows that core annual inflation met estimates in August at 5.3% year-on-year and that is slightly softer than the 5.5% year-on-year reading in July. That is seeing traders pare ECB rate hike bets to roughly 30% now and it...
> Eurozone July unemployment rate 6.4% vs 6.4% expected Latest data released by Eurostat - 31 August 2023 <!--> Justin Low Thursday, 31/08/2023 | 09:00 GMT-0 31/08/2023 | 09:00 GMT-0 --> <!--> Prior 6.4% ADVERTISEMENT - CONTINUE READING BELOW -->...
Prior +5.3%Core CPI +5.3% vs +5.3% y/y expectedPrior +5.5%The good news for the ECB here is that core inflation met estimates in August and is seen easing slightly from July. But it is still holding higher close to the peak of 5.7% in February. The euro is slipping...
It certainly is an ambitious goal and one that will at least help boost the wage dynamics in Japan, which have been rather depressed over the last two decades. For some context, in 2022, minimum wages in Japan averaged to around ¥961 per hour and that already...
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the GBPUSD daily and 4-hour charts.Price has rallied back to the 79% fib retracement level of the daily range.1.2745 the 79% fib retracement level.Watching for price to...
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the AUDUSD daily and 15-minute charts.Price has rallied back to the 0.6500 level.0.6490 - 0.6500 the daily resistance level and the Figure.Watching for price to rally and...
This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the...