The University of Michigan Consumer Sentiment Index printed a reading of 97.9 this morning, which slightly missed expectations of 98.0 and last month’s reading of 100.0.
USD firms after robust retail sales, while softer economic outlook boosts safe-havens, gold and Japanese Yen.
The single currency remains under downside pressure as 5-yr/5-yr Euro-Zone inflation expectations hit another record low, leaving the ECB in a precarious situation.
Gold prices jumped following a break above the YTD high, focus now on a break of trendline resistance that has been in place 2014. Fed decision next week will be pivotal.
Regional equity had a narrow and mixed session Friday with Middle Eastern tensions back to the fore. Pro-risk currencies struggled much more obviously.
The NZDUSD and AUDUSD are tumbling to support as increasingly dovish RBNZ and RBA monetary policy bets are undermining their appeal, boosting the Japanese Yen as carry trades unwind.
A letter signed by over 600 businesses was sent to the White House protesting the President’s approach to the US-China trade war, urging him to end the economic conflict.
Brent and WTI crude futures surge higher, Canadian Dollar the notable beneficiary, while soft Aussie jobs fuel bets on another RBA rate cut.
Gold is on the move higher Thursday after two oil tankers were damaged in an incident in the Gulf of Oman.
Crude oil prices are sharply higher following an incident in the Gulf of Oman in which two oil tankers are reportedly on fire.
The Nikkei 225 dropped alongside Nintendo shares. The ASX 200 may be topping on bearish technical signals. Declines in equities may be ahead after Asia Pacific stocks mostly sunk.
The AUDUSD downtrend is in focus after Australia’s unemployment rate missed its 5.1% target, fueling expectations that the RBA may deliver another rate cut relatively soon.
With the US auto industry cutting jobs at the quickest pace since the Great Financial Crisis, USMCA uncertainty and a prolonged US-China trade war will only continue weigh on the sector.
Crude oil prices may find themselves oscillating between political risks in Iran, leading to fears of a supply shock, and waning optimism over global growth prospects.
What is quantitative easing (QE) and how do central banks like the Fed and ECB use it? Learn how QE supplements monetary policy when rate cuts don’t cut it.
Huawei’s blacklisting saw an immediate adverse market reaction, but as the dust settles, Huawei will begin to feel further pressure – as will its US suppliers.
Volatility in crude oil could lead to contagion in emerging markets if lingering trade war uncertainty and slowing global growth fears persist.
The first vote of the leadership contest shows a commanding lead for Boris Johnson. Next round of voting will take place on June 18th.
Calls for the Fed to loosen policy have grown louder and louder, while markets don’t believe the ECB has the fire power to protect against a downturn.
The first vote of the leadership contest will take place on June 13th. As it stands, Boris Johnson is expected the favourite to become the next PM.
A minor recovery in the price of crude oil has spurred investors to pick up shares of the USO ETF while an uncertain outlook for the future has spurred demand for short-term debt.
The cycle-sensitive Swedish Krona and Norwegian Krone will be on the edge ahead of critical inflation data and increasingly dangerous political peril in Europe.
The US Dollar may extend declines versus its ASEAN peers as bets on a July Fed rate cut increase - markets now eyeing US CPI and retail sales data. China trade is eyed to gauge the impact of US tariffs.
Efforts by OPEC and its allies may curb the recent selloff in the price of oil as the group remains committed in stabilizing the energy market.
A week after the HYG ETF registered its largest outflow for the year, funds came pouring back in on Tuesday when the fund recorded its largest intraday inflow ever.
The SKEW Index seeks to measure the probability of Black Swan events and stock market crashes, but its track record in doing so is less than stellar.
The World Bank lowered growth forecasts while the IMF warned of a potential cut to their outlook as ongoing economic conflicts continue to pressure trade activity and new investments.