U.S. President Joe Biden’s signature project for huge new infrastructure investment received a major boost when leading Senate Democrats agreed on a $3.5 trillion plan. When announcing the agreement, Schumer stated that Republicans were not involved in the negotiation process. Only White House officials and Senate Budget Committee Democrats took part in the talks.The … [Read more...] about Leading Senate Democrats Approve $3.5 trillion for U.S. Budget Reconciliation Bill
Forex News
EURUSD Outlook: US Dollar Peaks Fueled by Strong CPI data
Germany’s inflation slowed in June 2021 (MoM) to +2.3%, from a high of +2.5% realized in May 2021. In France, food prices dropped 0.7% in June 2021 (MoM). US core CPI rose in June 2021 (MoM) to 0.9%, beating consensus estimates for the fourth consecutive month. The EURUSD pair declined 0.51% as of 1:10 pm GMT on July 13, 2021, from the previous day's close. … [Read more...] about EURUSD Outlook: US Dollar Peaks Fueled by Strong CPI data
UK Monthly CPIH Rises by 0.4% in June
Source: Office for National Statistics. The consumer prices index in the UK economy including the owner occupiers’ housing costs (CPIH) for the 12 months up to to June 2021 increased by 2.4% from 2.1% in 12 months leading to May. FTSE 250 Index dips 0.64% Transport accounted for the largest upward increase to CPIH expanding by 0.80%.Monthly CPIH increased by 0.4% in June … [Read more...] about UK Monthly CPIH Rises by 0.4% in June
Inflation Soars to 13-Year High in June. Surge Seen in Used Cars and Trucks
Source: US Bureau of Labor Statistics Inflation for urban consumers posted the fastest monthly growth in 13 years in June, driven mainly by the spike in prices of used cars and trucks. VCR slips 0.29%. The Consumer Price Index for All Urban Consumers grew 0.9% from the previous month, marking the biggest monthly change since June 2008’s 1.0%. Yearly inflation stood at … [Read more...] about Inflation Soars to 13-Year High in June. Surge Seen in Used Cars and Trucks
Market Mixed on PBOC’s Next Policy Move
Source: Bloomberg The market is mixed on the next move of the People’s Bank of China on policy rates, following the surprise reserve requirement reduction last week. UBS Asset Management Head of Fixed Income Hayden Briscoe believes the PBOC shifted to an easing cycle which has more to go after the reserve requirement cut.Briscoe said China could cut 10-year bond yields by … [Read more...] about Market Mixed on PBOC’s Next Policy Move
