Source: FT Democrats in Congress are crawling to get the way to raise the US debt ceiling and avert potential “catastrophic” default in less than three weeks. DXY +0.38%, EUR USD down 0.41% Republicans have continuously refused to support raising the country’s borrowing limit.On Tuesday, the Republican Party, led by Senate Minority Leader Mitch McConnell, blocked a route … [Read more...] about Democrat Leaders Running Out of Options to Avoid ’Catastrophic’ Default
Forex News
Economic Sentiment Stable Across Europe, Employment Expectations Hit 2-Year High
Source: European Commission Economic sentiment was broadly stable across Europe even as employment expectations soared to two-year highs, driven by improving consumer confidence. IEV is up 0.25% premarket. The Economic Sentiment Indicator was unchanged in the European Union at 116.6, and slightly higher in the Euro area at 117.8, up 0.2 points.The slight improvement came … [Read more...] about Economic Sentiment Stable Across Europe, Employment Expectations Hit 2-Year High
US Consumer Confidence Slips for Third Straight Month in September
Source: The Conference Board US consumer confidence declined for the third straight month in September, dragged by the spread of the COVID-19 delta variant. The Conference Board Consumer Confidence Index stood at 109.3 in September, down from 115.2 in August. The index slipped both in July and August.The Present Situation Index slipped to 143.4 from 148.9 the previous … [Read more...] about US Consumer Confidence Slips for Third Straight Month in September
Home Prices Grow at Record-High Pace for Fourth-Straight Month
Source: S&P DJI US home prices grew at a record-high pace for the fourth-straight month in July, according to data released by the S&P Dow Jones Indices. XHB is down 1.29%. The S&P CoreLogic Case-Shiller US National Home Price NSA Index climbed by 19.7%, up from 18.7% the month earlier.The 10-Cut Composite annual increase stood at 19.1% from 18.5% a year ago, … [Read more...] about Home Prices Grow at Record-High Pace for Fourth-Straight Month
OPEC Expects to Hit 107.9 Million Barrels a Day by 2035
Source: Bloomberg Oil demand is likely to grow until 2035 before it hits a plateau shortly after, according to the latest report of the Organization of Petroleum Exporting Countries (OPEC). Consumption is expected to hit over 100 million barrels a day in 2023 and continue to grow to 107.9 million barrels a day in 2035, little changed from the 2020 report.The prediction … [Read more...] about OPEC Expects to Hit 107.9 Million Barrels a Day by 2035
