Tag Archives: wells fargo

Analysts believe the US Dollar strength through the end of 2022 as a result of the hawkish Fed. They point out the dollar could peak during the fourth quarter of 2022, starting a period of cyclical weakness against most currencies in 2023 as the US economy enters recession and the …

The US economy contracted at an annualized rate of 0.9% in the second quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday. This reading came in much worse than the market expectation for an expansion of 0.5%. “The decrease in real GDP reflected decreases in private …

The European Central Bank raised key interest rates on Thursday by 50 bps. The move was larger than expected. Analysts at Wells Fargo believe inflation remains elevated enough, and inflation risks worrisome enough, to continue with a more forceful pace of rate hikes for the time being. Key Quotes: “As …

Citigroup Inc. C, +1.91% and Wells Fargo & Co. WFC, +1.91% both report earnings on Friday, July 15, while Bank of America Corp. BAC, +1.38% and Goldman Sachs Group Inc. GS, +0.74% weigh in on July 18. The detachment between healthy business performance and poorly share prices in 2022 seems …

Data released on Friday showed the ISM Manufacturing PMI dropped more than expected in June to 53, the lowest level in two years. According to Wells Fargo’a analysts the details of the report demonstrate slower activity in the manufacturing sector, but also that supply problems continue to ease, but only …

Wednesday’s data has showed an unexpected acceleration in the US ISM Manufacturing PMI Index in May from 55.4 to 56.1. According to analysts at Wells Fargo, the report offers a mixed read on the state of the industry. “Orders and order backlogs are growing at a faster pace. Meanwhile, supplier …

A new estimate of US Q1 GDP growth revised the original contraction of 1.4% to 1.5%. According to analysts at Wells Fargo, the economy continues to plow ahead, despite the modest contraction in real GDP growth observed during the first quarter.Key Quotes: “Revised data that were released this morning showed …

Data released on Tuesday showed Industrial Production rose 1.1% in April. Analysts at Wells Fargo point out that US factories, mines and energy producers together called more capacity into service than at any other time since the start of the pandemic. They warn supply chains are not fixed and could …

Wells Fargo’s analysts believe that the US dollar can strengthen against G10 and emerging market currencies. They consider the aggressive monetary policy tightening from the Fed, safe haven capital flows as well as markets that are mis-priced for interest rate hikes abroad should all result in a stronger greenback going …

The key report of the week was released on Wednesday. The annual inflation rate in the US dropped in April to 8.3% from the March 8.5% reading (41-year high). The increase was larger than expected. Analysts at Wells Fargo point out April’s CPI data served as a reminder that the …