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The US dollar has given back all its post-retail sales gains even with yields still near the highs of the day. US equities are also staging an impressive comeback with the Nasdaq trimming its decline to -0.5% from -1.5%.USD/CAD has made a complete round trip.USDCAD 10...

NAHB housing market index falls to lowest level since JanPrior month 45 dollars to 44NAHB housing market Index for October 40 vs 44 estimate. Lowest level since January 2023. The index has fallen for the 3rd straight monthSingle-family sales current 46 vs 50 last...

Prior was 0.0%Retail inventories +0.5% vs +0.6+ priorThese numbers will go into the GDP report to be released at month end. Notably, US inventories are still well-above the pre-pandemic trend. Some of that might be companies aiming not to get hurt by supply chain...

US 10y yieldsThere was some hope that yields would stop rising after the Gaza terrorist attacks but that's looking less and less like the case, in large part because the US economy continues to hum.The market is pricing in a higher-for-longer scenario with just 58 bps...

Nasdaq Composite dailyA stronger US retail sales report isn't the great news that markets wanted as it pushed Treasury yields higher across the curve and re-raised the possibility that the Fed isn't done or will have to hold rates higher for longer.In turn, equity...

The major US stock indices are moving lower led by the NASDAQ index which is trading down over 1.1%. Showing the expected retail sales (and industrial production) are sending yields higher. With the Fed decision upcoming on November 1, concerns that the Fed may go...

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,...

Bank of America is facing a mountain of unrealized losses on its hold-to-maturity portfolio but its quarterly numbers were good today. Shares of BAC are up 1.7% in the pre-market.For us, what's more important is the broader economy and Bank of America has an...

The United States plans to update rules related to semiconductors and chipmaking equipment exports, with updates expected to occur at least annually, according to the Commerce Secretary. These updates will affect exports of chips to foreign units of companies...

As the old saying goes: Never underestimate the spending power of the US consumer.The US dollar is at the highs of the day on most fronts after a strong September retail sales report. Headline sales rose 0.7% compared to 0.3% expected and the closely-watched control...

Prior was 0.6% revised to 0.8%Details:Retail sales MoM 0.7% versus 0.3% expectedEx-autos 0.6% versus 0.2% expected. Prior ex-autos 0.6% revised to 0.9%Control group 0.6% versus 0.0% expected.Prior control group 0.1% (revised to 0.2%)Retail sales ex gas and autos 0.6%...

Prior month 4.0%CPI MoM -0.1% versus 0.1% expectedPrior MoM 0.4%Core measures:BOC core YoY 2.8% versus 3.3% last monthBOC core MoM -0.1% versus 0.1% last monthCPI median 3.8% versus 4.1% last month CPI trim 3.7% versus 3.9% last monthCPI common 4.4% versus 4.8% last...

A pair of top-tier economic indicators are coming up at the bottom of the hour with the US releasing retail sales and Canada releasing CPI. Both reports are for September.For the US, the data on retail sales will be one of the first places where weakness shows up if a...

Headlines:Markets:AUD leads, NZD lags on the dayEuropean equities lower; S&P 500 futures down 0.3%US 10-year yields up 5.5 bps to 4.765%Gold up 0.3% to $1,924.37WTI crude up 0.1% to $86.79Bitcoin up 0.2% to $28,470With US president Biden only arriving in Israel on...