US consumer spending powered ahead in October although the economy was confronted by the biggest and fastest inflation wave in 31 years, setting up the economy for a year-end growth spurt.Purchases of goods and services, unadjusted for changes in prices, increased 1.3%, the most since March, following a 0.6% gain …

The US 10-year yield has continued higher this week and is now very close to key support at 1.685/705%. A major base looks increasingly imminent. Economists at Credit Suisse look for a move above 2% into 2022.US 10-year Bond Yields are back pressuring key long-term support at 1.685/705% after medium …

The U.S. economy expanded at an annual 2.1% pace in Q3 instead of 2.0% according to revised government data. Economists were expecting a reading of 2.2%, according to a Wall Street Journal poll. Consumer spending and private inventory investment mostly accounted for the upward revision, the Commerce Department said Wednesday. …

Following a 7.1% (downwardly revised from 14.0%) surge in sales in September, New Home Sales in the United States rose by a modest 0.4% in October according to data released by the US Commerce Department showed on Wednesday. The fresh data indicates rise for the second successive month to the …

Wall Street major indices edged lower with the exception of Dow Jones Industrial that was the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. Sector-wise, the main winners are energy, financials, and real-estate, rising 3.06%, 1.24%, and …

The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …

The Dow Jones Industrial is the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. During the New York session, major US equity indices edged lower as Wall Street approaches the close. The S&P 500 loses 0.35%, sitting …

Oil futures rose sharply Tuesday after the Biden administration announced a coordinated, US-led effort by energy consuming countries to release strategic crude reserves.The coordinated move had been well-telegraphed. News reports speculating on potential releases from the Strategic Petroleum Reserve and talk of a coordinated effort, lately joined by India, and …

The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …

Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …