According to the GDPNow model of the Federal Reserve Bank of Atlantathe US economy is expected to grow at an annualized rate of 2.6% in the third quarter, down from 1.6% in the previous estimate. “Following the release of this morning’s construction spending from the US Census Bureau and this morning’s manufacturing ISM business report […]
Tag: growth
EUR/USD: The impact of energy on growth will limit the ECB’s ability to support the euro – MUFG
The current rise in gas prices in Europe has encouraged market participants to anticipate further tightening by the European Central Bank (ECB). However, according to economists from MUFG Bankthe Growth risks will keep the euro under pressure. Higher risks of the ECB defaulting on rate hikes compared to the Fed “If EUR/USD extends further lower […]
India’s status as world’s fastest growing major economy will be short-lived – Reuters poll
It is likely that the India has posted strong double-digit economic growth in the last quarter, but economists polled by Reuters expect the rate to more than halve this quarter and slow further towards the end of the year as interest rates rise, according to the latest survey published on Monday. Key results yesGrowth this […]
Forex Today – Asian Session: Financial Markets About to Wake Up
What to watch for on Friday, August 26: The dollar ended Thursday mixed across the currency board, although there was no significant change among the major pairs. Investors were slightly optimistic as macroeconomic figures were upbeat but cautious before central bank governors speak on the sidelines of the Jackson Hole Economic Symposium. Germany reported that […]
China announces additional CNY 1 trillion worth of stimulus to rescue economy
The State Council of China outlined on Wednesday a 19 point policy package while announcing economic stimulus measures worth CNY 1 trillion ($146 billion) to stimulate growth affected by the closures derived from covid and the housing market crisis, according to Bloomberg. Key points The stimulus measures will include “another 300 billion yuan that state […]
Forex Today – Asian Session: Profit Taking Halts Dollar Rally
What to watch for on Wednesday, August 24: The USD veered south after extending its rally throughout the first half of the day, ending the day lower against most major rivals. The catalyst was dismal US data, as the US Global Services PMI contracted to 44.1. At the same time, the manufacturing index expanded at […]
EUR/USD will move below parity for a while in the coming weeks – SocGen
According to Kit Juckes, chief currency strategist at General Companyit is EUR/USD unlikely to break below 0.95. However, the pair will trade below parity in the coming weeks. Europe has tapped into global LNG supplies “The good news that Europe has tapped into global LNG supplies and is doing a better job of unhooking Russian […]
GBP/USD will trade below 1.20 until the end of the year – Scotiabank
In the UK, the cost of living crisis and sluggish growth may hamper the Bank of England’s ability to deal with soaring inflation and meet market expectations for tighter policy. In the opinion of economists scotiabankthis will weigh on the pound in general. Negative outlook in the face of rising inflation “Pound outlook is negative […]
China: PM urges local officials to strengthen pro-growth measures
Quoting the Chinese Premier Li Keqiangthe People’s Daily, the flagship newspaper of the Communist Party, reported that Li iUrged local officials in six key provinces representing around 40% of the country’s economy to step up pro-growth measures. Featured Statements The assembled officials must take the initiative to boost consumption and offer more fiscal support through […]
US: Atlanta Fed GDP for the third quarter falls to 1.8%
According to the model GDPNow from the Federal Reserve Bank of Atlantathe US economy is expected to grow at an annualized rate of 1.8% in the third quarter, down from 2.5% in the previous estimate. “Following recent releases from the US Treasury Department’s Office of the Fiscal Service, the US Bureau of Labor Statistics, the […]