Source: Bloomberg The Federal Reserve is expected to cut down its balance sheet as soon as the next month, according to Governor Lael Brainard. QQQ is down 1.63%. Brainard, in a prepared speech, said the Federal Open Market Committee will start to shrink its balance sheet “at a rapid pace” as soon as its meeting next month.She said the balance sheet is expected to be … [Read more...] about Fed Governor Brainard Says ‘More Rapid’ Balance Sheet Reduction to Start in May
Forex News
US Business Activity Posts Biggest Growth So Far in 2022
Source: Markit Economics Business activity in the United States picked up in March from the previous month, marking the biggest growth so far this year. QQQ is down 1.33%. The seasonally adjusted final S&P Global US Services PMI Business Activity Index stood at 58.0 in March, higher than the 56.5 in March but below the earlier estimate of 58.9.Firms attributed the … [Read more...] about US Business Activity Posts Biggest Growth So Far in 2022
US Trade Deficit Little Changed at $89.2 Billion in February
Source: Bureau of Economic Analysis The US posted a less than $0.1 billion decline in international goods and services deficit in February 2022, with the balances little changed at -$89.2 billion. SPY is down -0.35%, DXY is up +0.17%. Total exports and imports both improved by a monthly $4.1 billion to $228.6 billion and $317.8 billion, respectively, in February.Goods … [Read more...] about US Trade Deficit Little Changed at $89.2 Billion in February
UK Service Sector Growth Eases to 62.6
Source: Markit Economics The United Kingdom’s service sector expanded for the third straight month in March, indicating a continued rebound after the slowdowns seen due to the COVID-19 Omicron variant. EWU is up 0.03% premarket. The seasonally adjusted S&P Global / CIPS UK Services PMI Business Activity Index jumped to 62.6 in March from 60.5 in the previous month.The … [Read more...] about UK Service Sector Growth Eases to 62.6
Eurozone Economic Growth Weakens, Business Confidence Drops to 17-Month Low
Source: Markit Economics The eurozone economy continued to expand in March, albeit at a slower pace than February’s five-month high, driven mainly by the easing of COVID-19 restrictions. EZU is down 0.89%, and VGK down 0.43% premarket. The Final Eurozone Composite Output Index stood at 54.9, lower than the 55.5 recorded in February.Growth was driven by the service sector, … [Read more...] about Eurozone Economic Growth Weakens, Business Confidence Drops to 17-Month Low
