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United States Pending Home Sales (MoM) above forecasts (0.8%) in May: Actual (3.8%)
United States Pending Home Sales (MoM) above forecasts (0.8%) in May: Actual (3.8%)
United States Business Inventories meets expectations (0.5%) in April
United States Business Inventories meets expectations (0.5%) in April
The BoJ just hiked to 1.0%. Why is the Japanese Yen still falling?
The Japanese Yen (JPY) remains under pressure despite the Bank of Japan’s latest rate hike, with analysts highlighting that the move has not been enough to trigger a sustained recovery for the Japanese currency.
“A repeat of 2022’s inflation problems appear less likely”: ECB’s Sleijpen lowers temperature
European Central Bank (ECB) policymaker Olaf Sleijpen said in a speech at an event organized by the European Economics & Financial Center (EEFC) in London on Wednesday that while a repeat of 2022's inflation spike appears less likely, the risk cannot be fully ruled out.
Tesla (TSLA): Why Elliott Wave supports higher prices toward $774
Tesla: Beyond Automotive Growth, Expanding into Technology and Infrastructure.
Canadian Dollar holds near recent lows as Oil slump, Fed outlook weigh
USD/CAD trades around 1.4010 on Wednesday at the time of writing, gaining 0.10% on the day. The pair maintains a bullish tone as the Canadian Dollar (CAD) remains under pressure from falling Oil prices, while traders position ahead of the Federal Reserve’s (Fed) monetary policy decision.
United States Dollar: Fed policy shifts and rate path – ABN AMRO
ABN AMRO economists discuss how a new chapter for the Federal Reserve could influence the US Dollar over coming months.
Pound Sterling Price News and Forecast: GBP dips to weekly lows following soft UK inflation figures
The British Pound (GBP) extends losses against the US Dollar (USD) on Wednesday, with the GBP/USD pair hitting a weekly low of 1.3410 at the time of writing.
Canada New Housing Price Index (YoY): -2.4% (May) vs previous -2.3%
Canada New Housing Price Index (YoY): -2.4% (May) vs previous -2.3%
United States Retail Sales expanded by 0.9% MoM in May
Retail Sales in the United States increased to $763.7 billion in May, the US Census Bureau reported on Wednesday. This print followed the 0.5% expansion recorded in the previous month and came in above market expectation (+0.5%). On a yearly basis, Retail Sales were up 6.9% during this period.
United States Retail Sales (YoY) rose from previous 4.9% to 6.9% in May
United States Retail Sales (YoY) rose from previous 4.9% to 6.9% in May
United States Retail Sales Control Group rose from previous 0.5% to 0.7% in May
United States Retail Sales Control Group rose from previous 0.5% to 0.7% in May
United States Retail Sales ex Autos (MoM) came in at 0.8%, above forecasts (0.5%) in May
United States Retail Sales ex Autos (MoM) came in at 0.8%, above forecasts (0.5%) in May
Canada New Housing Price Index (MoM) came in at -0.3% below forecasts (-0.1%) in May
Canada New Housing Price Index (MoM) came in at -0.3% below forecasts (-0.1%) in May
United States Retail Sales (MoM) above forecasts (0.5%) in May: Actual (0.9%)
United States Retail Sales (MoM) above forecasts (0.5%) in May: Actual (0.9%)
NVDA: The chart setup hiding behind the bond-sale headlines
The noise around Nvidia this week is the $25 billion bond offering and another round of “is the AI trade overheating” think pieces. The chart is telling a quieter, more useful story.
Euro retreats below 1.1600 with Kevin Warsh and the Fed in the spotlight
The Euro (EUR) posts moderate losses against the US Dollar (USD) on Wednesday, giving away some of the ground gained over the last few days, with markets showing a cautious mood ahead of the US Federal Reserve’s (Fed) decision.
Japanese Yen: Short positions favoured on dovish Fed risk – Societe Generale
Societe Generale’s Kit Juckes notes that recent G10 policy moves, including a BOJ hike, have not produced dramatic FX shifts. He argues that a dovish Fed outcome would favour short USD/JPY positions.
United Kingdom inflation: Services strength offsets goods softness – Societe Generale
Societe Generale’s Sam Cartwright notes that UK Headline CPI stayed at 2.8% year-on-year in May, undershooting both Bloomberg consensus and the BoE’s April MPR projection, while core inflation edged up to 2.6%.
United States Dollar: Fed patience tempers downside – OCBC
OCBC’s Sim Moh Siong notes FX markets are in a holding pattern as traders await the FOMC, with Oil’s decline easing inflation pressures but seen as having limited further downside.
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