According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to expand by 0.3% in the second quarter, up from the June 16 forecast of 0%. “After recent releases from the Federal Reserve Board of Governors, the National Association of Realtors, and the US Census Bureau, the nowcast of second-quarter … Read more
GBP/USD is struggling to overstep 1.2300 as investors await the US Durable Goods Orders. Investors should brace for a vulnerable performance from the US economic data. The BOE may dictate a jumbo rate hike in July considering its inflation rate is above 9%. The GBP/USD pair is juggling in a narrow range of 1.2259-1.2297 in … Read more
China’s economy showed some fresh signs of life in June as the country gradually emerged from the covid-induced lockdowns, but the recovery remains muted, Bloomberg Economics’ aggregate index of eight early indicators showed on Monday. Key takeaways The overall gauge returned to the neutral level after deteriorating for two straight months. Economic activity picked up … Read more
The US Gross Domestic Product (GDP) is now expected to grow 2.9% in 2022, lower than its recent forecast of 3.7% in April, IMF Managing Director Kristalina Georgieva said in an annual assessment of US economic policies over the weekend. Additional takeaways US economy will grow at 1.7% in 2023 and 0.8% in 2024. After … Read more
Following the release of the German IFO Business Surveythe institute’s Economist Klaus Wohlrabe said that “the worry lines in the German economy are getting bigger.” Additional quotes Index has fallen significantly in industry and retail. Expectations are more pessimistic. Despite increased uncertainty, there are no signs of a recession at the moment. Threat of gas … Read more
In a keynote speech to a virtual BRICS Business Forum on Wednesday, Chinese President Xi Jinping vowed to meet economic targets for the year despite the country battling with the covid outbreaks and a weak housing market. Key quotes China will “strengthen macro-policy adjustment and adopt more effective measures to strive to meet the social … Read more
Economist at UOB Group Ho Woei Chen, CFA, re-assesses the performance of the Chinese economy this year. Key Takeaways “China’s economic data were better than expected in May. Industrial production has shown greater resilience as it returned to expansion but retail sales contracted for the third straight month. Fixed asset investment slowed but is expected … Read more
GBP/JPY is expected to find buyers around 163.00 ahead of the hawkish BOE. Lower GDP and higher jobless rate may restrict the BOE to see beyond a 25 bps rate hike. The BOJ will continue with its ultra-loose monetary policy on Friday. The GBP/JPY pair is gauging cushion around 163.00 after a corrective move from … Read more
Asia-Pacific shares remain firm as Wall Street tracked downbeat Treasury yields after Fed’s 75 bp rate hike. MSCI’s gauge of equity rises for the first time in six days. Mixed Aussie jobs report test Aussie bulls, pre-BOE speculator, light calendar add to the trading filters. Asian markets post the biggest daily gains in over a … Read more
NZD/USD is oscillating below 0.6500 as investors are sidelined ahead of the US inflation. The US CPI may remain unchanged at 8.3% while the core CPI will see a slump to 5.9%. NZ FinMin Grant Robertson dictated that the tailwinds of lower jobless rates and debt are supporting growth levels. The NZD/USD pair is auctioning … Read more