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Flash Purchasing Managers’ survey data from euro area is due on Thursday, headlining a light day for the European economic news. At 2.30 am ET, the Federal Statistical Office is scheduled to publish Swiss industrial output figures for the second quarte…
Prepared by Jeff Halley, Senior Market Analyst Wall Street rallied overnight as traders ignored some very obvious discord on the path of rate cuts from the FOMC Minutes, concentrating on sparkling results from big-box retailer Target, and home improvement retailer Lowe. Both produced sparkling results following on from Walmart last week and saw their […]
Daily Markets Broadcast 2019-08-22 Wall Street rallies on earnings Strong earnings from the consumer sector gave US indices a lift yesterday, and those gains were maintained after FOMC minutes suggested the last rate cut was mid-cycle insurance against low inflation. The Kansas Fed’s Jackson Hole gathering kicks off today. US30USD Daily Chart The US30 […]
USDCAD pullbacks ahead of the Fed Economic Symposium as Canada’s Consumer Price Index (CPI) comes in stronger-than-expected in July.
The Canadian Dollar faces reversal pressures again after CPI data despite a drop in crude oil prices. Ahead, the Australian and New Zealand Dollars may rally with Asia stocks.
Euro stable despite renewed Italian political turmoil Work is underway in Italy to see if the President can avoid another snap election just ahead of the important budget season. Italy’s finances are a constant cause for concern which makes Salvini’s successful attempt to bring down the government all the more inconvenient, especially as these are […]
Pressure mounts on Powell to deliver Recession nerves look to have settled a little following last week’s panic, which has brought some relief to markets. Now that everyone is an expert in inverted yield curves and the apocalyptic foresight they contain, there seems to be an odd acceptance of where we’re heading (or is it […]
The main event of the week is Fed Chair Powell’s speech at the annual Jackson Hole symposium on Friday. The Fed must be concerned with how low bond markets have taken Treasury yields, the 10-year yield on Treasuries is almost a half percentage point below the Federal Funds Target range. Everyone wants to see if […]
The U.S. dollar recovered after a weak start on Wednesday, and edged further up after the release of the minutes of the Federal Reserve’s July meeting.
Citing a lack of clarity about when the risks to the U.S. economy will be resolved, the minutes of the Federal Reserve’s latest monetary policy showed the central bank intends to remain flexible regarding future changes to interest rates. The minutes o…