The Canadian dollar started the week with gains, but has reversed directions on Wednesday. USD/CAD is trading at 1.2978, up 0.47% on the day. CPI expected to hit 7.4% Canada releases the May inflation report Read more…
The USDJPY is taking a breather under new 24-year high on Wednesday, as overbought conditions prompt some profit-taking after the pair advanced 3.3% in past three days and traded at levels last seen in 1998. Read more…
Inflation concerns could give back most of yesterday’s gains on Wall Street as U.S. stocks tumble into their worst first half performance since 1970. U.S. equity futures slumped lower Wednesday, potentially giving back most of Read more…
U.S. mortgage rates nudged closer to 6% last week, data from the Mortgage Bankers Association indicated Wednesday, as the Federal Reserve steps-up its inflation fight. U.S. mortgage rates rose to the highest levels nearly fourteen Read more…
President Biden’s call for a Federal gas tax holiday could cost the nation’s Highway Trust Fund around $10 billion in revenues. President Joe Biden will ask Congress to suspend the federal gas tax for at Read more…
Japan’s 225 stock index (cash) got rejected near the 50% Fibonacci retracement of the 24,500 – 28,649 upleg at 26,576 soon after departing from May’s base of 25,508. The bearish bias is still in play as the Read more…
Consumer inflation continues to gain momentum in the UK. Data for May showed that CPI accelerated to 9.1% y/y – a record among the G7 and a 40-year high. The monthly price growth rate was Read more…
Everything you need to know about the current economic and monetary policy environment, and what it all means for financial markets In this article, we discuss the current economic and monetary policy environment. What does Read more…
Stock futures slump as inflation woes mount; President Biden calls for Federal gas tax holiday; Fed Chair Jerome Powell faces Capitol Hill grilling on inflation; Boeing shares slide as CEO cautions on supply chain challenges Read more…
WTI oil fell sharply on Wednesday, losing around 5.6% in Asian and early European session, following push by US President Biden to bring down soaring fuel prices, which cause a huge problem to Americans as Read more…