Source: The Conference Board Consumer confidence grew to its highest level since the COVID-19 pandemic hit in June, as business conditions are widely expected to continue improving in the coming months. The Consumer Confidence Index climbed to 127.3 in June, following the upward-revised 120.0 in May. This is the highest since March 2020.The Present Situation Index which … [Read more...] about Consumer Confidence Climbs to Pandemic-High in June
Forex News
PBOC Dispels Fears of Policy Tightening in a Reassuring Tone of Economic Stability
Source: Bloomberg The People’s Bank of China is noticing more stability and improvement in the economy despite persistent domestic and global risks. CSI 300 is down -1.17%, USDCNY is up +0.17%. The statement by China's central bank shifts from its first quarter tone when it said the growth was unbalanced.The reassuring policy tone by PBOC dispels some fears of … [Read more...] about PBOC Dispels Fears of Policy Tightening in a Reassuring Tone of Economic Stability
World Bank Projects a Higher Growth of 8.5% in China This Year
Source: MarketWatch The World Bank expects China to post economic growth of 8.5%, up from previously forecasted 8.1%. CSI 300 is down -1.17%, USDCNY is up +0.09%. The World Bank expects China’s growth to moderate to 5.4% next year once activity normalizes.The World Bank’s report is a positive sign for China’s growth, whose consumer and factory activity has hit above … [Read more...] about World Bank Projects a Higher Growth of 8.5% in China This Year
Rising Commodity Prices Becoming a Thorny Issue — But not to Traders
Source: Bloomberg The uptick in commodity prices has sparked inflation talk among policymakers and consumers bearing the burden. For some investors, the boom has been a moment to reap big rewards. CL1! is down -0.73%, HG1! Is down -1.55% The rise in commodity prices has already seen King’s Merchant Commodity Fund, which was founded in 2004, climb almost 50% this … [Read more...] about Rising Commodity Prices Becoming a Thorny Issue — But not to Traders
Texas Manufacturing Rebounds in June. Costs Jump to Record Highs
Source: Federal Reserve Bank of Texas Texas manufacturing posted a month-on-month rebound in June and nearly doubled its performance the same period in 2020, while costs of raw materials and wages hit fresh highs. The production index rose 14 points to 29.4 in June, higher than 15.7 in May and nearly double the 14.8 recorded the same month in 2020.The new orders index … [Read more...] about Texas Manufacturing Rebounds in June. Costs Jump to Record Highs
