Source: CNBC Allianz Chief Economic Adviser Mohamed El-Erian believes officials of the Federal Reserve are downplaying inflation risks which could pull the United States into another recession. El-Erian raised concerns on inflation as he said he sees evidence of inflation being more long term every day.The economist is also concerned that the Fed is falling behind and may … [Read more...] about Economist Warns of Possible Recession if Fed Falls Behind on Inflation
Forex News
USDCAD Under Pressure Ahead of Inflation Data as US Indices Power to Record Highs
US dollar remains under pressure after a recent spike to five-month highsUSDCAD has resumed its movement to the downside amid renewed CAD strengthTurkish Lira is strengthening across the board on improved Turkey economic outlookUS indices turned bullish on Biden Administration inking a bipartisan infrastructure deal The US dollar is struggling for direction near multi-month … [Read more...] about USDCAD Under Pressure Ahead of Inflation Data as US Indices Power to Record Highs
Nevada, Utah, New Hampshire Lead US Economic Growth
Source: Bureau of Economic Analysis Nevada posted the biggest economic growth among all the states of the U.S. in the first three months of 2021. Real gross domestic product grew by 10.9% in Nevada, faster than the 2.7% in the fourth quarter and -4.9% in the first quarter of 2020.Utah's growth came second with 2.9%, from 7.1% the previous quarter and -3.9% in the first … [Read more...] about Nevada, Utah, New Hampshire Lead US Economic Growth
Consumer Sentiment Index Rebounds to 85.5 in June
Source: University of Michigan Consumer sentiment rebounded in June, driven by improved economic prospects after a decline in May. The Index of Consumer Sentiment stood at 85.5 in June, up 3.1% from May's 82.9 and up 9.5% from June 2020's 78.1.The latest reading is the second-highest since the COVID-19 pandemic hit, behind April's 88.3.The June climb was driven by … [Read more...] about Consumer Sentiment Index Rebounds to 85.5 in June
S&P Affirms China’s ‘A+’ Rating. Growth to Continue Overtaking Peers
Source: S&P Global Ratings On Friday, global credit watcher S&P Global Ratings n Friday affirmed its credit ratings on China, citing the country's reform agenda and growth prospects. S&P affirmed its 'A+' long-term rating on China with a stable outlook, and the short-term sovereign credit rating at 'A-1.'The credit watcher believes China will maintain … [Read more...] about S&P Affirms China’s ‘A+’ Rating. Growth to Continue Overtaking Peers
