Source: Federal Reserve The Federal Reserve started a campaign of hiking interest rates that’s are set to be the most aggressive since the 2000s, as Chair Jerome Powell vowed to fight against inflation. DXY down -0.10%, EUR USD up +0.17% After hiking rates by a quarter-point, Powell informed reporters that inflation is extremely high, the labor market is overheated and … [Read more...] about US Fed Hikes Rates by a Quarter Point for the First Time Since 2018
Forex News
Builder Confidence Falls for Fourth Straight Month in March
Source: NAHB Builder confidence declined for the fourth straight month in March, bringing the level below 80 for the first time in six months. XHB is up 2.66%, while ITB is up 2.48%. The NAHB/Wells Fargo Housing Market Index stood at 79 in March, down by two points from the previous month.The latest reading is the fourth straight month of declines and the first time the … [Read more...] about Builder Confidence Falls for Fourth Straight Month in March
US Monthly Retail Sales Growth Slows in February
Source: US Census Bureau Monthly retail sales in the United States continued to grow in February, albeit at a slower pace. QQQ is up 1.47%. Seasonally adjusted retail and food services stood at $658.1 billion in February, marking a 0.3% climb from the previous month and 17.6% growth from February 2021.The latest reading reflects a slower growth from the 4.9% increase in … [Read more...] about US Monthly Retail Sales Growth Slows in February
US Import Prices Rises 2.0% in January, Largest Increase in 11 Years
Source: US Bureau of Labor Statistics US import prices jumped 2% in January compared to the prior month, the biggest jump since April 2011. DXY down -0.34%, EUR USD up +0.29% The market had estimated a 1.3% monthly increase after a 0.4% decline in import prices in December. Prices for US imports advanced 10.8% over the past year, led by the higher fuel and nonfuel … [Read more...] about US Import Prices Rises 2.0% in January, Largest Increase in 11 Years
New York Manufacturing Activity Falls for the First Time in Almost 2 Years in March
gSource: New York Fed The general business conditions index gauging manufacturing in New York State dropped by fifteen points in March to mark the lowest level since May 2020 of -11.8. SPY is up +1.25%, DXY is down -0.23%. 24% of manufacturing firms said conditions have improved in the last one month, lower than 35% who pointed to worsening situations.Modest declines … [Read more...] about New York Manufacturing Activity Falls for the First Time in Almost 2 Years in March
