USD CPI data for the month of November came in at 2.2% y/y as expected. Monthly figure came in unchanged as expected. The budget deficit for the month of November came in at $204.9bn vs $100.5bn the previous month. Retail Sales came in at 0.2% m/m vs...
USD The November Manufacturing PMI came in at 55.3 vs 55.4 as expected but ISM Manufacturing PMI came in at 59.3 vs 57.5 as expected for a huge beat. Within ISM PMI employment came in at 58.4 vs 56.8 as expected, new orders came in at 62.1 vs 57.4 the...
USD FED’s Clarida came out on Tuesday with a hawkish statement reiterating that gradual rate hikes are appropriate as data shows the way to neutral stance. He added that it is important to see capital expenditures rebound after soft numbers in Q3. H...
USD Previous Friday FED members Clarida, Harker and Kaplan emphasized the slowdown in global growth and stated that there is no rush for FED to raise rates. December’s hike is not affected by their statements but odds for three rate hikes in 2019 a...
USD CPI data for the month of October came in at 2.5% y/y as expected with the prior reading showing 2.3% y/y. CPI ex-food and energy came in a bit weaker at 2.1% y/y vs 2.2% y/y as expected. On the monthly level, CPI came in at 0.3% m/m as expected...
USD Democrats have taken the control of the House of the Representatives for the first time since 2010. Republicans have retained the control of Senate as was expected. A divided Congress will present a hindrance for president Trump and his legislative...
USD PCE Core for September came in at +2% y/y as expected. Core PCE came in at +0.2% m/m vs +0.1% as expected. Personal income came in a bit softer at +0.2% vs +0.4% expected. Inflation continues along FED’s preferred path, but sluggish personal income g...
USD New home sales for September came in at 553K vs 625K expected. This is a much weaker reading than anticipated and comes as combination of slowly rising wages, higher rates and affordability. FED’s Mester stated that fundamentals of the US economy a...
USD Retail sales in the US came in worse than expected, however the control group, which represents the total industry sales that are used to prepare the estimates of PCE for most goods, showed an increase to 0.5%. This increase can positively influence...
USD Treasury yields are pushing the dollar up. 10 Year Treasury yields are trading near the highest levels since March, 2011. Currently, FED fund rates have priced in a 74.6% chance of a rate hike. This probability is expected to grow more in...
