Source: CNBC Pershing Square’s Bill Ackman does not expect the global spread of delta Covid variants to have a significant impact on economic reopening. SPY today is down -1.84%. Ackman says the outbreak of delta variants could motivate more people to take vaccines, allowing the global economies to pick in the fall.Despite causing an increase in vaccinations, the … [Read more...] about Billionaire Investor Ackman Discounts Impact of Delta Variant on Economic Rebound
Forex News
Yellen Says China Trade Deal Failed to Address “Fundamental Problems”
Source: The Business Times US Treasury Janet Yellen expressed major concerns about Trump’s trade deal with China, the first indication from the Biden administration reexamining its future agreements with China. CNY USD dips -0.14%, EUR USD slips -0.29%. The agreement signed by the Trump administration and China in January last year was designed to stop damaging trade … [Read more...] about Yellen Says China Trade Deal Failed to Address “Fundamental Problems”
USDSEK Analysis: Cementa’s License Rejection May Impair Sweden’s Economy
Nonrenewal of Cementa’s license risks up to 400,000 jobs in Sweden and monthly revenue of 20 billion kronor (11% GDP share). Sweden’s telecommunication giant Ericsson has its Chinese revenues plunged 63.41% in Q2 2021 (YoY) from SEK 4.1 billion ($470 m/ year- in 2020) to SEK 1.5 billion ($171.95 billion).US core PPI increased 5.6%, beating forecasts at 5.1%, with the … [Read more...] about USDSEK Analysis: Cementa’s License Rejection May Impair Sweden’s Economy
AUDUSD: Aussie Slumps As Victoria State Joins Sydney in New Lockdowns
In the week ending July 10, 2021, the initial US unemployment claims fell 6.74%, from 386,000 to 360,000. The pandemic has increased productivity from 1.4% in 2020 to 3.1% in 2021. Australia's economic growth projection may fall from the 2.6% anticipated by the RBA by the first half of 2021. The AUDUSD pair lost 0.84% as of 01:39 pm GMT on July 15, 2021, from the … [Read more...] about AUDUSD: Aussie Slumps As Victoria State Joins Sydney in New Lockdowns
Consumers Less Upbeat as Sentiment Plunges by 5.5% in Early July
Source: University of Michigan US consumer sentiment recorded a decline of 5.5% to hit an index of 80.8 in early July on a less favorable economic outlook. SPY is down -0.29%, DXY is up +0.10%. The month over month decline in consumer sentiment reflected misjudgments over the pace of the economic recovery as the pandemic impacts fell.The index measuring current … [Read more...] about Consumers Less Upbeat as Sentiment Plunges by 5.5% in Early July
