Source: CNBC Wells Fargo’s Michael Schumacher projects US 10-year Treasuries to end this year at a high of about 2.20%. 10 Year Treasury is down -0.004%, DXY is up +0.28%. Despite Treasury yields falling temporarily this week following Fed’s decision on rates, Schumacher says uncertain high inflation outlook will see it rise this year. Schumacher attributes the biggest … [Read more...] about Wells Fargo Analyst Projects Treasury Yields Surpassing 2% by Year End
Forex News
U.K.’s May Retail Sales Volumes Decreased by 1.4%
Source: Office of National Statistics U.K.’s retail sales volumes in May 2021 came down by 1.4% after April’s sharp increase following relaxation of retail restrictions. FTSE 100 is down 0.80% GPBUSD is down 0.23% Food stores and non-store sellers witnessed the highest monthly decrease in sales volume in May of 5.7% and 4.2% respectively as restrictions for … [Read more...] about U.K.’s May Retail Sales Volumes Decreased by 1.4%
USD/CHF: Dollar Surges Ahead of Jobless Claims Report
Switzerland’s trade balance grew 31.14% (MoM), increasing imports over exports in May 2021. The SNB maintained its interest decision at -0.75, retaining the world’s lowest funds rate into Q3 2021.Weekly US continuous jobless claims are expected to beat consensus estimates at 3.43 million. The USD/CHF pair grew 0.75% on June 17, 2021, from the previous day's close. It … [Read more...] about USD/CHF: Dollar Surges Ahead of Jobless Claims Report
U.S. Jobless Claims Climb Back Above 400,000
Source: US Labor Department American unemployment claims jumped back to the 400,000 level for the first time in three weeks. DXY is up 0.70%, Gold is down 1.71%. Seasonally adjusted initial claims for the week ending June 12. This is the highest since May 22's 405,000. The previous week's level was revised lower by 1,000 to 375,000 from 376,000.The four-week moving … [Read more...] about U.S. Jobless Claims Climb Back Above 400,000
Turkey Keeps Rate at 19% but Adopts Hawkish Stance
Source: Bloomberg The Central Bank of the Republic of Turkey on Thursday maintained policy rates, while shifting to a more hawkish stance. The Monetary Policy Committee left the benchmark interest rate at 19% for the third consecutive month, in line with market expectations.The central bank said it wills current "tight" policy stance will continue to be maintained … [Read more...] about Turkey Keeps Rate at 19% but Adopts Hawkish Stance
