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
Forex News
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
U.K. and Australia Trade Deal Broadly Finalized
Source: The Guardian The United Kingdom has agreed to a deal with Australia in what would be its first such trade agreement since the exit from the European Union. The trade deal was struck on Monday evening after a meeting between U.K. Prime Minister Boris Johnson and his Australian counterpart Scott Morrison. A spokesperson for the Department for International … [Read more...] about U.K. and Australia Trade Deal Broadly Finalized
Consumer Inflation Expectations Posts Record-High 4.0% in May
Source: New York Fed Household expectations on inflation hit a record-high in May, while remaining largely optimistic on the labor market for the year ahead. Data from the Survey of Consumer Expectations show that assumptions on inflation for the next year increased for the seventh straight month to 4.0% in May to mark a fresh series high.The year-ahead expected change in … [Read more...] about Consumer Inflation Expectations Posts Record-High 4.0% in May
