Retail Sales in the US rose by 0.6% to $621.3 billion in June following May’s contraction of 1.7% (revised from -1.3%), the data published by the US Census Bureau revealed on Friday. This reading came in better than the market expectation for a decline of 0.4%.
Read More »US: Weekly Initial Jobless Claims Drop to 360K
There were 360,000 initial claims for unemployment benefits in the US during the week ending July 10, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 386,000 (revised from 373,000) and came in line with the market expectation.
Read More »BoC Leaves Policy Rate Unchanged, Reduces Weekly Asset Purchases to C$2B
The Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the July policy meeting as expected. However, the BoC decided to reduce the target of weekly net asset purchases of the government of Canada bonds to C$2 billion from C$3 billion.
Read More »Gold Touches a High of 1825
Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar Gold touches a high of 1825 as we mentioned in our morning report after it got the bullish momentum at 1797 taking advantage of falling USD. The yellow metal rose after …
Read More »US annual CPI Inflation jumps to 5.4% in June
Inflation in the US, as measured by the Consumer Price Index (CPI), jumped to 5.4% on a yearly basis in June from 5% in May, the data published by the US Bureau of Labor Statistics revealed on Tuesday. Excluding volatile food and energy prices, the core CPI rose 4.5%, the …
Read More »ECB’s Lagarde: Inflation Target at 2% is Not a Ceiling
European Central Bank President Christine Lagarde has said that the new 2% symmetric inflation target means that level is not a ceiling. The ECB abandoned its “below, but close to 2%” target in its strategic review published earlier.
Read More »US: Weekly Initial Jobless Claims Rose to 373K
There were 373,000 initial claims for unemployment benefits in the US during the week ending July 2, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading more than the market expectation for a reading of 350,000 and followed last week’s upwardly revised reading of …
Read More »ECB Adopts Symmetric 2% Inflation Target
The European Central Bank has shifted to a symmetric inflation target of 2% contrary to a ceiling at that level, the decision was fully expected by markets. The ECB stated it would allow short-term deviations from that goal, including a moderate spell above target. This is a step back from …
Read More »The EverGiven Crisis Settlement Agreement Formally Signed Between The Ship-Owning Company And The Suez Canal
The Suez Canal Authority signed an agreement with the company that owns the Panamanian container ship EverGiven on secret terms that were not disclosed, during a meeting held by the authority on Wednesday, July 7, in the presence of the Authority’s Chairman Osama Rabie and representatives of the Japanese company …
Read More »Canada: International Trade Deficit of C$1.4B in May
Canada’s international merchandise trade deficit came in at C$1.4 billion in May as data published by Statistics Canada showed on Friday, worse than market expectations of C$0.37 billion. “In May, Canada’s merchandise imports increased 2.1%, while exports fell 1.6%,” the publication read. “In May, the average value of the Canadian …
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