UK retail sales contracted sharply in April, reinforcing signs that household demand is weakening as higher living costs and economic uncertainty continue weighing on consumers. Retail sales volumes fell -1.3% mom, much worse than expectations for a -0.6% decline, reversing part of March’s 0.6% rebound and following February’s -0.8% fall. The weakness was concentrated in […]
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USD/CAD extends upside – breaks back above rising trendline. Momentum signals stay moderately supportive . USD/CAD is gaining for a fourth consecutive session, trading near 1.3785. The pair has broken back above its short-term uptrend Read more…
Fundamental Background The RBA’s third consecutive interest rate increase to 4.35% reflects the regulator’s concern over rising inflation: the conflict in the Middle East is increasing energy costs and putting upward pressure on prices. Annual Read more…
Markets EMU and to a lesser extent US PMI’s confirmed the feared-for stagflationary tendencies as the fall-out of the conflict in the Middle East unsettles multiple supply chains and triggers a mutually reinforcing spiral of Read more…