European Central Bank member, Isabel Schnabel, told a German newspaper Handelsblatt on Tuesday that the ECB may need to raise interest rates as soon as July to stop high inflation from getting entrenched.EUR/USD is higher on the day by some 0.23% yet has not reacted to the comments, sticking to …
Read More »Eurozone Unemployment Rate drops to 6.8% in March vs. 6.7% expected
The Eurozone Unemployment Rate dropped to 6.8% vs. 6.7% expected and 6.9% reported in February, the latest data published by the Eurostat showed on Tuesday. The Producer Price Index (PPI) in the bloc rose to 5.3% MoM in March vs. 5% expected and 1.1% previous. On an annualized basis, the …
Read More »Market Drivers – US Session – Fri. 29 April
The week finished with prevalent negative market sentiment. US equities recorded hefty losses, between 2.77% and 4.17%. China’s coronavirus outbreak which has lasted for the last couple of weeks threatens to disrupt supply chains. The US central bank’s increasing rate hikes to tackle inflation and the Ukraine-Russia conflict, further entering …
Read More »Could PCE Data Drive Looming Critical FOMC Meeting?
The Fed’s favorite inflation gauge slowed in March, in its first retreat in more than one year, according to a report issued Friday in the run-up to next week’s meeting of the policy-setting Federal Open Market Committee.PCE data gives a reading of the Personal Consumption Expenditures Price Index that excludes …
Read More »Chevron Profit Nearly Quadruples As Exxon Ups Stock Buyback Plan
Energy prices padded the bottom lines of Exxon, Mobil, and Chevron in the first quarter, a time that has helped oil companies to tell a totally different story from that is told by the Big Tech companies, which had been falling and falling into their earnings reports.Chevron and ExxonMobil are …
Read More »Is Russia’s Latest Economic Data Consistent On War Impact, Sanctions?
Latest economic data published by Moscow do not track private-sector surveys that show a sharp contraction in Russian manufacturing. The consequences of harsh economic sanctions against Russia are already being felt across the globe. Experts are busy explaining the significance of what has happened so far and how the conflict …
Read More »USD/CHF Benefits From Safe Haven Appetite
The USD/CHF to record the biggest monthly gain since May 2012, up 5.17%. A dampened market mood increased the appetite for the safe-haven Swissy as US dollar traders booked profits. USD/CHF Price Forecast: A daily close below 0.9700 might open the door for a mean reversion move.The USD/CHF retreats from …
Read More »US consumer income growing, but unable to cope with inflation
Data released on Friday showed personal income rose 0.5% in March and a 1% increase in personal spending. Consumers had to dip into savings to pull it off, but not only did real personal expenditures rise in March, revisions lifted real February spending into positive territory as well, noted analysts …
Read More »Chicago PMI stumbles in April
The Chicago Business Barometer, also known as the Chicago PMI, fell to 56.4 in April from 62.9 in the prior month. Economists had expected little change, with analysts polled by the Wall Street Journal forecasting a 62 reading. The index is 14.4 points below it’s reading from April 2021. The …
Read More »UoM Consumer Sentiment Index Falls In April
According to the final version of the University of Michigan’s Consumer Sentiment survey, the headline Consumer Sentiment Index for April came in at 65.2, a tad below the flash estimate released earlier in the month of 65.7. Consumer exuberance can translate into greater spending and faster economic growth, implying a …
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