2024 Q1 GDP Underperforms Expectations At 1.6 Percent Vs 2.3 Percent Expected
First-quarter GDP was lower than any estimate in the Bloomberg Econoday consensus range of 1.7 percent to 2.8 percent. Inflation was higher than expected.GDP and GDI from the BEA, chart by Mish Chart Notes Gross Domestic Product (GDP) and Gross Domestic Income (GDI) are two measures of the same thing. Product produced should match sales […]
Analytical Overview Of The Main Currency Pairs – Thursday, April 25
Image Source: Pixabay The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0702 Prev Close: 1.0698 % chg. over the last day: -0.04 % On Wednesday, the euro strengthened after the IFO German Business Climate Index rose more than expected to an 11-month high for April. Also bullish for the euro were hawkish comments from ECB Governing Council […]
US GDP Growth Slows Markedly, And Inflation Remains The Focus
Image Source: Pixabay US GDP growth slowed to 1.6% annualized in the first quarter of this year, less than half the 3.4% rate recorded in 4Q23, but core inflation was stronger, picking up from a 2% annualized rate to 3.7%. This implies upside risks to tomorrow’s key monthly core PCE deflator and makes a near-term rate […]
Sensex Today Ends 487 Points Higher; Metal Stocks Shine
After opening the day on a high note, Indian share markets continued the momentum as the session progressed and ended higher.The Indian stock market benchmark snubbed weak cues from global peers and staged a smart recovery in Thursday’s trading sessions.At the closing bell, the BSE Sensex stood higher by 487 points (up 0.7%).Meanwhile, the NSE Nifty closed higher by […]
USD/JPY Analysis: Yen Slumps To 34-Year Low
The Japanese yen witnessed further weakness against its counterpart, the US dollar, falling to its lowest level in over three decades. According to forex trading platforms, the Japanese yen has faced immense pressure this year, even as the Bank of Japan raised interest rates for the first time since 2007 and the economic outlook improved. […]
Jobless Claims Continue Their Snooze-Fest
Initial and continuing claims continued their snooze-fest this week.Initial claims declined from -5,000 to 207,000, continuing their nearly 3 month long range of between 200-220,000 per week. The four-week average declined 1,250 to 213,250. This average has remained in the 200-225,000 range for over half a year! Finally, with the typical one-week delay, continuing claims […]
Treasury Cash Soars Providing A Liquidity Reprieve
The U.S. Treasury now has $930 billion in cash in its Treasury General Account (TGA) held at the Federal Reserve. The influx of cash into the Treasury account at the Fed is the result of April 15 tax payments. As shown in the top graph, this is the third highest level it has been and […]
Initial & Continuing Jobless Claims Continue To Ignore Reality
In the real world labor market, 2024 has been a shitshow of layoffs… 1. Everybuddy: 100% of workforce 2. Wisense: 100% of workforce 3. CodeSee: 100% of workforce 4. Twig: 100% of workforce 5. Twitch: 35% of workforce 6. Roomba: 31% of workforce 7. Bumble: 30% of workforce 8. Farfetch: 25% of workforce 9. Away: 25% […]
Gold Eyes Bullish Trend Resumption As Traders Await Key US Data
Image Source: Pixabay Gold has been able to regain its poise after the sharp drop we observed at the start of the week. The metal has found decent support around the $2300 level, with traders keeping a close eye on bond yields and incoming US data. Overall, not much has changed in as far as gold’s […]
GBP/USD Analysis: Focus Shifts Cautiously To US Data
According to recent trading activity, the British pound sterling against the US dollar (GBP/USD) has been on the rise, easing some recent selling pressure. However, the bigger picture remains consistent with ongoing weakness. According to forex trading platforms, the GBP/USD exchange rate has risen towards the resistance level of 1.2470, hovering near it at the […]
