The July Preliminary Report from the University of Michigan on consumer confidence showed an unexpected and modest rebound in the main index. Wells Fargo analysts point out that the main conclusion is that inflation expectations have cooled. They explain that this represents good news for Fed policymakers “and makes the pressure to ‘go big’ at […]
Tag: United States
USA: The GDP of the Atlanta Fed for the second quarter decreases to -1.5%.
According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to contract 1.5% in the second quarter, down from the July 8 forecast of -1.2%. “Following recent releases from the US Bureau of Labor Statistics, the US Census Bureau, the Federal Reserve Board of Governors, and the US Treasury Department’s […]
US: UOM consumer confidence index improves to 51.1 in July, vs. 49.9 expected
The UOM consumer confidence index rose slightly in early July. The US dollar index is moving lower towards 108.00. The University of Michigan Consumer Confidence Index it improved slightly in early July to 51.5 in July’s flash estimate, up from 50 in June. This data was slightly better than market expectations of 49.9. As a […]
US: Inflation remains unacceptably high – Janet Yellen
US Treasury Secretary Janet Yellen said on Thursday that US inflation remains unacceptably high, adding that bringing it down is the top priority of the administration of US President Joe Biden, according to Reuters. Additional comments “Russia’s war in Ukraine is causing negative effects around the world, especially in rising energy prices and growing food […]
AUD/USD rises above 0.6750 after US CPI and USD weakness
Risk aversion was no excuse for AUD/USD to rise, but remains negative on the week. Inflation in the US exceeds 9%, for the first time since 1981; the odds of the Fed raising 100 basis points stand at 84%. The US 2yr-10yr yield curve inverted the most since 2001; Is the recession just around the […]
EIA: US crude oil production to increase by 720,000 bpd to 11.91 million bpd in 2022
United States curing oil production it is expected to rise by 720,000 barrels per day (bpd), down from 730,000 in the previous forecast, in 2022 to 11.91 million bpd, said the United States Energy Information Administration (EIA) in your monthly report. Main data, via Reuters US crude oil production will increase by 860,000 bpd to […]
US: Failure to cap Russian oil price could push prices up to $140
A senior US Treasury official said on Tuesday that “if the proposal to limit the price of Russian oil is not implemented, with an exemption for purchases below the limit, the price of oil could rise to around $140/barrel“. Additional comments US Treasury Secretary, Janet Yellenwill discuss the implementation of the proposed oil price cap […]
The S&P 500 index remains above 3,800
The three main US stock indices sink between 0.29% and almost 2%. Risk aversion dominates Monday’s session, due to fears of the quagmire in China and high inflation that reduces corporate profits before the results session arrives. The Fed’s George worried that faster rates would hurt the economy. The Fed’s Bullard said the US economy […]
USA: The GDP of the Atlanta Fed for the second quarter stands at -1.9%.
According to the GDPNow model of the Federal Reserve Bank of Atlantathe US economy is expected to contract 1.9% in the second quarter, slightly more than the July 1 forecast of -2.1%. “Following this week’s releases from the Institute for Supply Management, the US Census Bureau, and the US Bureau of Economic Analysis, current forecasts […]
US: ISM services PMI falls to 55.3 points in June vs. 54.5 expected
The ISM Services PMI fell in June but beat market expectations. The DXY dollar index is trading at its highest level in nearly two decades above 107.00. The ISM services PMI fell to 55.3 points in June from 55.9 in May, showing that business activity in the services sector expanded at a slightly lower rate. […]
