EUR/USD falls on weaker-than-expected economic data from the EU, facing strong headwinds from the energy crisis, and slower economic growth. US GDP in the second quarter showed signs of contraction, meaning the US is in a “technical recession”. Inflation in Germany hovers around 8.6% y/y, while EU economic sentiment plummets. The EUR/USD down from daily […]
Tag: United States
USD/CAD moves steadily towards 1.2830, after updating six-week lows
USD/CAD touched a six-week low at 1.2794, but recovered some ground, waiting to break above 1.2850. The United States revealed that second-quarter GDP contracted less than the final reading for the first quarter. USD/CAD remains positive due to the strength of the US dollar and the drop in oil prices. The USD/CAD bounces off weekly […]
US: Atlanta Fed GDP for the second quarter rises to -1.2%
According to the GDPNow model of the Federal Reserve Bank of Atlantathe US economy is expected to contract 1.2% in the second quarter, compared to the July 19 forecast of -1.6%. “Following recent releases from the US Census Bureau and the National Association of Realtors, the forecast for the contribution of inventory investment to real […]
US: Pending home sales fall 8.6% in June vs. -2% expected
Pending US home sales fell sharply in June. The dollar index remains stable around 107.00. Monthly data published by the National Association of Agents real estate showed on Wednesday that pending home sales decreased by 8.6% in monthly terms in June, after growing 0.4% in May. This data was much worse than the market expectation […]
Biden and Xi to hold talks amid new tensions over Taiwan – AP
The US President Joe Biden and his Chinese counterpart Xi Jinping are scheduled to hold a call on Thursdaytheir first conversation in four months, reports the Associated Press (AP), citing a US official. The planned talks come ahead of a visit to Taiwan by House Speaker Nancy Pelosi in August, which has reignited tensions between […]
S&P 500 index falls towards 50 DMA as Walmart cuts earnings forecast
The three main US stock indices sink between 0.44% and 1.79%. Sentiment changed after Walmart blamed “high inflation” as it kicked off its profit outlook for the second half of 2022. The dollar index is above 107,000, while the yield on the 10-year Treasury note remains flat at around 2.79%. US equities tumbled after jumping […]
Moody’s downgrades growth forecasts for the US and European economies
In the latest reports published on Tuesday, Moody’s Investors Service cuts US and European GDP growth forecasts for 2022 and 2023. now wait US real GDP growth of 2.1% in 2022 and 1.3% in 2023below May forecasts of 2.8% and 2.3%, respectively. Tightening monetary and financial conditions to reduce stubbornly high inflation will slow economic […]
US: Raimondo warns of recession risk if Taiwan chips are cut
The US Secretary of Commerce, Gina Raimondo warned on Wednesday that the current reliance on overseas computer chip manufacturing from Taiwan puts the country at risk of a recession if supplies are cut off.. Featured Comments “Though many computer chips are designed in the United States by companies like Intel, the location of manufacturing is […]
US: Existing home sales decline 5.4% in June to 5.12 million
US existing home sales fell sharply in June. The dollar index continues to fluctuate below 107.00. US Existing Home Sales They fell for the fifth straight month in June to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors reported Wednesday. Sales fell 5.4% and 14.2% in monthly and annual terms, […]
US: Housing starts down 2% in June, building permits down 0.6%.
US housing starts fell 2% in monthly terms in June. The US Dollar Index remains in negative territory below 107.00. Data released by the US Census Bureau. revealed on Tuesday that housing starts fell 2% to a seasonally adjusted annual rate of 1,685,000. Building permits fell 0.6% in the same period, following a 7% contraction […]
