Source: National Bureau of Statistics of China China’s retail sales jumped by 12.4% in May to miss the expected rise of 13.6%. Other economic indicators also missed expectations to underscore lower consumer spending amid robust economic recovery. CSI 300 sheds -1.67%, USDCNY is down -0.13% In April, China’s retail sales also rose at a lower than expected 17.7% level as … [Read more...] about China’s Retail Sales Jumps 12.4% to Miss Estimates as Uneven Recovery Continues
Forex News
Business Conditions in NY Fall by Seven Basis Points but Firms Remain Optimistic
Source: Federal Reserve Bank of New York General business conditions index in New York State fell by seven basis points to a lower level of 17.4 in June as activity expanded at a slower pace compared to May. DXY is up +0.04%, DJI is down -0.36%. Shipments and new orders rose moderately, with a surge in unfilled orders. Lead times rose at a record pace, with input … [Read more...] about Business Conditions in NY Fall by Seven Basis Points but Firms Remain Optimistic
U.S. Retail and Food Services Sales Down to Three-Month Low in May
Source: U.S. Census Bureau American retail and food services sales posted a 1.3% month-on-month drop in May to hit the lowest level in three months. Advance estimates fell to $620.2 billion, the lowest since February's $559.9 billion.The latest reading compares with $628.6 billion in April and $483.9 billion in May 2020.Total sales from March to May increased 36.2%, … [Read more...] about U.S. Retail and Food Services Sales Down to Three-Month Low in May
EIA Projects US Oil Production to Expand By 38,000 Bpd Next Month
Source: EIA Energy Information Administration projects US shale productivity from the seven major basins to grow by 38,000 bpd next month. CL1! is up 1.34%. The crude oil output from the seven major basins is expected to rise to 7.803 million bpd next month. The 7.803 million bpd increase is one of the highest production levels the company has experienced since … [Read more...] about EIA Projects US Oil Production to Expand By 38,000 Bpd Next Month
Fed Dot Plot Likely to Remain Dovish. Rate Adjustment to Come 2023 – Survey
Source: Bloomberg Economists expect Federal Reserve officials to remain dovish in the latest quarterly rate forecast "dot plot," and indicate that the earliest possible rate hike would be in 2023. Over half of the economists surveyed believe that the median of 18 Fed officials will pencil in at least one increase in 2023.The rest of the respondents expect rates to remain … [Read more...] about Fed Dot Plot Likely to Remain Dovish. Rate Adjustment to Come 2023 – Survey
