Source: MarketWatch On Sunday, US Treasury Secretary Janet Yellen petitioned for Congress to raise the debt ceiling to avoid a “historic financial crisis.” DXY up +0.08%, EUR USD down -0.10% Yellen indicates that the United States has always raised the debt ceiling before its limit. Default could cause a spike in interest rates, a decline in stock prices, and … [Read more...] about Yellen Says Acting Sooner on Raising Debt Limit Will Avoid Historic Financial Crisis
Forex News
Consumer Sentiment Growth, Ends August’s Steep Falloff
Source: University of Michigan Consumer sentiment posted slight growth in September, marking the end to the steep decline in the previous month. DXY is up 0.22%. The Index of Consumer Sentiment stood at 71.0 in September, up 1.0% from 70.3 in August, but 11.7% lower than the 80.4 in September 2020.The measure of Current Economic Conditions fell to 77.1, down 1.8% from … [Read more...] about Consumer Sentiment Growth, Ends August’s Steep Falloff
Fed Set for November’s Bond Tapering, Rate Hikes in 2023
Source: Bloomberg. The Federal Reserve is likely hinting at its meeting next week that it is moving towards scaling back monthly asset purchases and make a formal announcement in November. DXY up +0.14%, EUR USD down -0.11% The survey of 52 economists also forecasted the U.S. central bank would not interest rates near zero through 2022 before delivering two-quarter point … [Read more...] about Fed Set for November’s Bond Tapering, Rate Hikes in 2023
Eurozone Construction Posts Slight Rebound, EU Remains in Negative Territory
Source: Eurostat Construction output growth in the Eurozone posted a slight rebound in July, while the European Union’s print remained in negative territory for the third straight month. EURUSD is down 0.05%. Total construction in the Euro area grew by 0.1% in July, up from -0.6% in June. This follows three consecutive months of contraction.When compared with the same … [Read more...] about Eurozone Construction Posts Slight Rebound, EU Remains in Negative Territory
UK Retail Sales Slip to Five-Month Low in August
Source: Office for National Statistics Retail sales in Great Britain fell to a five-month low in August, as food stores, department stores, and computer stores reported lower figures during the month. The retail sales index fell by 0.9% to 107.2 in August from 108.3 in July. This is the lowest since March’s 103.4.Volumes for the three months to August were 0.3% higher … [Read more...] about UK Retail Sales Slip to Five-Month Low in August
