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Today's May Canadian GDP report met expectations at +0.3% but the advance estimate for June was -0.2%. With that, CIBC calculates that growth in the quarter is tracking close to 1.0%, less than the 1.5% assumed in the latest Bank of Canada estimates. Some of that was...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Biden economic advisor - and former Fed vice chair - Lael Brainard is speaking and says:Biden is very focused on making sure we have resilient supply chainsThat kind of resilience means diversification, not decoupling from ChinaThe comments are trying to soften the...
> Biden plan to signed Executive Order to limit critical US technology investments in China Executive Order to go into effect but mid August <!--> --> <!--> Bloomberg is reporting:Pres. Biden to sign Executive Order to limit critical US technology...
As the week comes to a close in Europe, what does the price action from the EURUSD this week tell us about next week's trading. In this video, I take a close look at the daily chart and the hourly chart to define the bias, risk, and target levels. Be aware and be...
Atlanta Fed GDPNow growth est for Q3 starts at 3.5%The Atlanta Fed GDPNow model which forecasts growth for the quarter from published data has started its Q3 estimate at 3.5%. In their own words:The initial GDPNow model estimate for real GDP growth (seasonally...
European stocks were mixed today but the DAX broke out higher, generating some momentum. Still, the gains aren't on par with the strong day for the Nasdaq:Stoxx 600 -0.1%German DAX +0.4%FTSE 100 +0.1%French CAC +0.4%Italy MIB -0.1%Spain IBEX -0.1%For the week:Stoxx...
It is Friday, so it is a good time to look back at the price action this week and then look forward to what the price action tells us going forward into the new trading week.Looking at the GBPUSD on the hourly char this week this weekt above, the price today moved to...
USD/ZAR PRICE FORECAST: Recommended by Zain Vawda Get Your Free USD Forecast Get My Guide MOST READ: USD/ZAR Rises as SA Reserve Bank (SARB) Pauses After 10 Consecutive HikesThe South African Reserve Banks (SARB) recent pause in the hiking cycle was no doubt met with...
> Dallas Fed June trimmed mean price index falls to 2.5% m/m annualized versus 3.2% prior The trimmed mean inflation index from the Dallas Fed <!--> Adam Button Friday, 28/07/2023 | 14:28 GMT-0 28/07/2023 | 14:28 GMT-0 --> <!--> Prior was 3.2%...
Prelim was 72.6Prior was 64.4Current conditions 76.6 vs 77.5 prelim (69.0 prior)Expectations 68.3 vs 69.4 prelim (61.5 prior)1-year inflation 3.4% vs 3.4% prelim (3.3% prior)5-10 year inflation 3.0% vs 3.1% prelim (3.0% prior)This indicator has little use for traders,...
The Bank of Japan met and eased their yield curve control on the 10 year effectively expanding their tolerance by a further 50 basis points to 1.0%. That news - and the other news this week - has the pair moving back toward a neutral level after...
The Nasdaq is up 1.4% as Treasury yields retreat and the market sorts through the post-BOJ wreckage. The strength in stocks demonstrates that there is a mountain of cash on the sidelines looking for a dip to buy.That kind of stock market performance would usually come...
Major US stock indices are off to a positive start. Earnings overnight came in better than expectations and that has been the trend this week (generally speaking). The prices are rebounding as well after yesterday's decline which saw the Dow industrial average snap...
The EURUSD has corrected higher in trading today and the softer-than-expected core PCE data helped to push the price to a new high for the day at 1.1032. That move did extend above a swing area up to 1.10267, but overhead resistance defined by the 50% midpoint of the...
Monday:Monday was the PMI day for many advanced economies. Below you can see the data:Australia Manufacturing PMI printed at 49.6 vs. 48.0 prior while the Services PMI came at 48 vs. 50.3 prior. The Composite PMI was 48.3 vs. 50.1 prior. Japan Manufacturing PMI...
Employment costs dip to 1%Prior quarter 1.2%Employment costs 1.0% versus 1.1% expectedBenefits 0.9% vs 1.2% last quarterWages +1.0% versus 1.2% last monthLooking at the chart, the employment costs remain in the upper end of the recent history going back to 2019, but...
Prior was +4.6%PCE core 0.2% m/m vs +0.2% expectedPrior MoM +0.3%Headline inflation PCE +3.0% y/y vs +3.0% expected (Prior +3.8%)Deflator +0.2% m/m vs +0.2% expected (prior was +0.1%)Consumer spending and income for June:Personal income +0.3% vs +0.5% expected. Prior...
Prior month 0.0% revise to +0.1%May GDP 0.3% versus 0.3% expectedGoods producing industries -0.3%Service producing industries +0.5%12 of 20 industrial sectors posted increasesFor the month of June ahead the projection shows:Advanced GDP estimate for June -0.2%May GDP...
The Bank of Japan made things interesting today with some haphazard communication and a tweak to yield-curve control. I'll have more to write on that later but first we have a full helping of economic data to digest.At the bottom of the hour:US PCEUS Q2 employment...