Global transactions can be finalized in a number of currencies. Some of the currencies accepted for such transactions include the US dollar and the euro. The Indian Rupee (INR) is not commonly used to finance international transactions, a deficiency whose days could be numbered. A legal tender is convertible if it can be exchanged with ease for gold or any fiat. The … [Read more...] about Making the Indian Rupee Convertible: What You Should Know
Consumer Confidence Slips as Spread of Delta Variant Weighs on Sentiment
Source: TCB Consumer confidence fell to a six-month low in August, as the spread of the COVID-19 delta variant dragged sentiment on economic conditions. IYK is up 0.091%, while XLP is up 0.19%. The Conference Board Consumer Confidence Index dropped to 113.8 in August versus 125.1 in July. This is the lowest since February.Growth was recorded in the number of respondents … [Read more...] about Consumer Confidence Slips as Spread of Delta Variant Weighs on Sentiment
Chicago Business Output Slips on Supply Shortage, Staffing Issues
Source: MNI Chicago business output slipped to in August after hitting a two-month high the month prior, as supply and staffing constraints hit production. The Chicago Business Barometer fell to 66.8 in August, down from July’s 73.4. The reading remains above the 50 threshold that separates expansion from contraction.Firms attributed the decline to the ongoing lack of raw … [Read more...] about Chicago Business Output Slips on Supply Shortage, Staffing Issues
American Home Price Growth Hits Record-High for Third Straight Month in June
Source: S&P DJI US home prices grew by a record-high pace for the third straight month in June, as potential homebuyers shifted to suburban areas from urban apartments. The S&P CoreLogic Case-Shiller US National Home Price NSA Index rose by 18.6% in June, up from 16.8% in May. This is the highest reading in over 30 years of data collection.Acceleration was also … [Read more...] about American Home Price Growth Hits Record-High for Third Straight Month in June
Euro Area Inflation Hits 10-Year High in August as Energy Prices Surge
Source: Eurostat Eurozone inflation is likely to have accelerated to a decade-high in August, driven by higher prices of energy and industrial goods during the month. August inflation is expected at 3.0%, the highest since 2011. This compares with 2.2% in July and -0.2% in August 2020.Energy inflation is predicted to be the highest at 15.4%, up from 14.3% in July and … [Read more...] about Euro Area Inflation Hits 10-Year High in August as Energy Prices Surge
