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
Forex News
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
Economist Warns of Possible Recession if Fed Falls Behind on Inflation
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
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
