The Bureau of Economic Analysis reported Thursday that the U. S. economy grew at an annualized rate of only 2% in the third quarter.The highly infectious Delta variant of the coronavirus, supply chain chaos, worker shortages, sluggish jobs numbers and higher prices weighed on economic activity.It was far lower than …
Read More »Market Drivers – U. S. Session – 27-10-2021
U. S. economic data in addition to corporate earnings reports and a number of positive developments had impact on the U. S. session Wednesday. The negotiations regarding the federal budget plan bill between the White House and the Congress is among the factors that led to a positive market performance.Gold …
Read More »Growth slowdown and inflation would dominate ECB’s meeting
Investors and observers have expected the European Central Bank’s October meeting to be unexciting, but the current mixture of growth slowdown and higher inflation could cause it to be more action-packed than anticipated.Although big decisions on the future of the European Central Bank’s emergency stimulus package are unlikely to be …
Read More »BOJ would hold fire as inflation surges, Yen weakened
The Bank of Japan is expected to keep fiscal policy settings steady on Thursday and to contain inflation to stay below its 2% target for at least two more years.The BoJ is widely expected to leave its stimulus unchanged amid further delay in the economic recovery from the pandemic, only …
Read More »How high will U. S. 3Q GDP be?
Investors eye how strong growth in Q3 gross domestic product will be when the government reports the official advance estimate on Thursday.Following the first two quarters when the annual rate of growth came in at 6.3% and 6.7%, respectively, the arrival of the delta variant this summer and ongoing disruptions …
Read More »USD/CAD reacts to the BoC’s decision
USD/CAD fell for the first time in the week, down by 0.25%, trading at 1.2358 during the New York TRADING session. As the BoC decided to keep interest rates unchanged, investors’ expectation towards the QE was a reduction in its weekly purchases from CAD 2 billion to CAD 1 billion. …
Read More »U. S. shares hover between small gains and losses
U. S. Stocks hovered between small gains and losses, on Wednesday, as investors digest corporate earnings results released by biggest U.S. companies.The S&P 500 rose 0.2% a day after the broad stocks gauge closed at an all-time high for the 57th time this year. The Dow Jones Industrial Average, which …
Read More »Sharp rise of U.S. Stockpiles pushes oil down 1%
Oil prices retreated on Wednesday after U.S. crude oil stockpiles rose more than expected. The bigger-than-expected rise in U.S. crude stocks gave some investors a momentum to implement long positions.Brent oil futures ended down $1.82, or 2.1%, to $84.58 a barrel, after closing at a seven-year high on Tuesday. U.S. …
Read More »Foreseeable Debt limit row still seeking reconciliation
Raising the debt limit has become more of a partisan battleground, resulting in perennial crises that threaten to undermine global faith in American markets and push the U.S. economy to the edge of recession.After raising the debt limit before default deadline, earlier this month, Congress still needs to tackle the …
Read More »Inflation will last longer over supply chain difficulties
The largest U.S. manufacturers including do encounter logistics headache and higher costs as a result of global supply bottlenecks that could continue into 2022, but most companies agree that the hit to profits can be compensated by charging higher prices for their goods.Companies globally pushed the alarm button reiterating that …
Read More »