China’s major economic data missed expectations in May. Industrial production (IP) expanded +8.8% y/y in May, worse than consensus of +9.2% and April’s +9.8%. Retail sales growth decelerated to +12.4% y/y, from +17.7% in April. The market had anticipated a +14% growth. Fixed asset investment (FAI) gained +15.4% y/y in the first 5 months of
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Next week, the Bank of England will have its monetary policy meeting. Analysts at Wells Fargo, believe the central bank will signal another slowdown in asset purchases over the next few month. They see the next tapering taking place by the end of the summer. Key Quotes: “Over the past few months, the Bank of
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Up $0.60 or 0.84% The price of WTI crude oil futures are settling at $71.64. That is up $0.60 or 0.4%. The price last Friday closed at $70.79. So for the week, the price is up $0.85. The high for the week was on Wednesday at $72.96. The low for the week was yesterday at $69.76. Technically, in
Fed speak will be one of the highlights The Fed dominated the past week and it will likely be more of the same in the days ahead with a heavy slate of speakers scheduled to offer their thoughts on the stance of monetary policy. Monday: Bullard Kaplan Williams Tuesday: Mester Daly Powell testifies in Congress
NEW DELHI: Mentha oil jumped nearly 6 per cent on Friday to touch a one-year peak due to unfavourable weather conditions causing a delay in arrival. On the Multi Commodity Exchange (MCX), mentha oil futures (June 30) surged as much as 5.66 per cent to Rs 1,040 per kilogram – a level last seen on
Dollar ended last week sharply higher as boosted by the surprisingly hawkish FOMC projections. Yen followed as second strongest on steep selloff in stocks, while Euro is a distant third. Commodity currencies were the worst performers, with Aussie leading the way, followed by New Zealand Dollar. Though, Swiss Franc were also one of the weakest.
The Federal Reserve on Wednesday considerably raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates. However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program, though Fed Chairman Jerome Powell acknowledged that officials
Commenting on the market reaction to the FOMC’s hawkish shift this week, Rabobank analysts noted that the sharp rally in the USD on the back of this week’s Fed meeting suggests a sharp re-adjustment in positions has been taking place. Key quotes “It is possible that the Fed did too good a job in recent
Generating momentum and attracting investor attention can be a challenge during the best of times in the cryptocurrency market and it is an even bigger challenge when the markets are choppy like the entire crypto ecosystem has been the past couple of months. Despite the recent downturn, Perlin (PERL), which has managed to rally 140%
Dow down for the fifth consecutive day The major US indices are selling off into the close with the S&P and Dow industrial average near the lows for the day. The Dow closed lower for the fifth consecutive day S&P closes lower for the fourth straight day Dow has its worst week in 2021 Dow has
Forex news for North American trading on June 18, 2021: Markets: Gold down $9 to $1764 US 10-year yields down 6.4 bps to 1.436% S&P 500 down 55 points to 4166 WTI crude up 62-cents to $71.66 JPY leads, NZD lags Bullard set the tone with some hawkish comments just as New York trade was
LONDON: Oil prices fell for a second straight session on Friday as the US dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs. Brent crude futures were down 60 cents, or 0.8%, at $73.68
Dollar is consolidating some gains in Asia session today but remains overwhelmingly the strongest for the week. Yen is following closely as second best. Yet, there is no one-sided risk aversion in the markets to help Yen against Dollar. US stock indexes ended mixed overnight only, while Asian markets are trading in narrow range. Swiss
A child passes by the Marriner S. Eccles Federal Reserve Board Building on Constitution Avenue, NW, on Monday, April 26, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Members of the Federal Reserve now see two interest rate hikes in 2023, according to the central bank’s so-called dot-plot projections. Wednesday’s forecast showed 13
GBP/USD Weekly Forecast: BOE may save sterling after massive Fed-induced 300-pip blow GBP/USD has tumbled down in response to a Fed decision, UK reopening delay. The BOE’s decision and a bulk of US figures are set to move the currency pair. Mid-June’s daily chart is showing bears are taking over. The FX Poll is pointing