Source: Reuters Economists expect the Federal Reserve to tighten interest rates in the next two months amid a 40% chance of a recession in 2022. QQQ is down 1.77%, while SPY is down 1.20%. A survey of over 100 economists shows that the Fed is predicted to hike interest rates by back-to-back half-point increases in May and June.Some 85 of the 102 economists surveyed expect … [Read more...] about Federal Reserve Seen to Hike Rates in May and June – Poll
Forex News
US Inflation Expectations Year-Ahead Hits a Record 6.6% in March
Source: New York Fed The US consumers expect the median consumer prices in the one-year-ahead period to be 6.6%, a new series high and an increase from February estimates of 6.0%. SPY is down -1.10%, DXY is +0.10%. Consumers are still optimistic that inflation will wane in the medium and longer-term, with expectations of a gain of 3.7% in three years, down from February … [Read more...] about US Inflation Expectations Year-Ahead Hits a Record 6.6% in March
UK Economic Growth Slows on Lower Production, Construction
Source: Office for National Statistics The United Kingdom’s economic growth slowed in February, led mainly by the services sector, which was partially offset by other sectors. EWU is down 0.35%, while EZU is up 0.40% premarket. The gross domestic product (GDP) grew by 0.1% in February, slower than the 0.8% growth recorded in January.Growth was led mainly by services which … [Read more...] about UK Economic Growth Slows on Lower Production, Construction
UK Trade Deficit Hits £18.3 Billion as Exports Climb While Imports Slip
Source: Office for National Statistics The United Kingdom posted a narrowed trade deficit in February, as imports contracted while exports expanded during the period. EWU is down 0.35%, while EZU is up 0.40% premarket. The total trade in goods balance grew by £3.1 billion to mark an £18.3-billion deficit versus the previous month.Total exports for the month stood at £28.6 … [Read more...] about UK Trade Deficit Hits £18.3 Billion as Exports Climb While Imports Slip
US Could Fall Into Recession With Policy Tightening, BofA Warns
Source: Reuters The United States could fall into economic recession with the anticipated policy rate hikes amid the inflationary uptick, strategists at Bank of America warned. BAC is up 1.36%, while QQQ is down 0.54%. Chief Investment Strategist Michael Hartnett warned clients of the possible impacts of policy tightening, with what he called an ‘inflation shock’ … [Read more...] about US Could Fall Into Recession With Policy Tightening, BofA Warns
