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The Fed hiked rates by 75bps and cancelled forward guidance. GDP indicates a technical recession, and US inflation is still ticking at the highest level in 40 years. The Eurozone shows resilience but with savage inflation on its side of the pond. This week the BoE and RBA will hike rates, but there is scope for surprises. NFP Friday has a forecast of 250K jobs created in July. Yet, the…
The pair heads towards the conclusion of a very bad month and week, due to cool-down in Fed hike expectations and the negative Q2 GPD print from the US
The pair is having a bad day, unable to build on Wednesday’s post-Fed rise, but covers some of its losses, helped by the greenback's negative reaction to the US GDP contraction
The US economy posted second back-to-back quarterly negative GDP, according to the preliminary data that were just released, against expectations for marginal growth
Black gold steadies after a volatile day, as investors weighed IMF’s lower economic growth forecasts and API’s stock drawdown, while awaiting the Fed later in the day
The household sector is showing weakness from numerous economic indicators.
CPI Inflation accelerated 9.4% y/y in June as today’s data showed, aggravating cost-of-living fears, while the Pound consolidates it recent gains against the greenback
Oil has benefited from the recent dollar decline, with both UKOil (Brent) and USOil (WTI) CFDs moving into the neutral areas between their blue bands (green rectangles).
Inflation is still in focus as the US printed at 9.1% - the fastest pace since 1981. Bank of Canada surprises with 100bps to front load hikes due to inflationary concerns. Waller and Bullard talk down hike expectation to 75bps from 100bps. Fed funds rate has 75bps at 70% for 27 July hike. Bank earnings disappoint; this week, NFLX and Tesla kick off the tech side. Housing data is in…
Retail sales increase on a nominal basis but slow on a real basis.
US CPI Inflation hit new four decade high in June, as Wednesday’s data showed, sparking aggressive market expectations for another outsized move on rates by the US central bank
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