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US Retail Sales Beat Expectations in May

U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter. The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest […]

US Import Prices Rose in May

U.S. import prices increased solidly in May, boosted by a surge in the cost of petroleum products and food, but underlying imported inflation remained benign. The Labor Department said on Thursday import prices increased 0.6 percent last month. Data for April was revised to show import prices rising 0.6 percent instead of the previously reported […]

ECB to End QE Program in December

The European Central Bank (ECB) has confirmed it will end a huge programme to stimulate the eurozone economy in December. The ECB will stop its bond-buying scheme, worth €30bn a month, as long as economic data remains favourable. The move is a major step towards dismantling the policies brought in to stabilise the eurozone in […]

ECB – Monetary policy summary June 2018

Main refinancing rate 0.00% Marginal lending facility 0.25% Deposit facility -0.40% Monthly asset purchases €30 billion QE to end by the end of December Asset purchases expected to be tapered to €15 billion from Oct to Dec Decision on asset purchases still depends on incoming data ECB to keep rates unchanged at least until summer […]

EUR/USD – Euro Edges Higher Ahead of ECB Meeting

EUR/USD has posted slight gains in the Thursday session. Currently, the pair is trading at 1.1827, up 0.29% on the day. On the release front, German Final CPI climbed 0.5%, a 3-month high. This reading matched the forecast. Later in the day, the ECB winds up its policy meeting and will release a rate statement. […]

Hawkish Fed Boosts US Dollar But Tariffs Bring Currency Down to Earth

The US dollar is lower against major pairs after the U.S. Federal Reserve raised the benchmark Fed funds rate by 25 basis points on Wednesday. The move was heavily anticipated by the market, but the strong pace of the US economy could mean more rate hikes. The latest projections from the US central bank now […]

Greenspan Disagrees with Trump on Trade

Former Federal Reserve Chairman Alan Greenspan sharply disputed the notion the U.S. was being ripped off by other countries because of its trade deficit. The former central bank chief told CNBC that President Donald Trump has the situation “reversed” as it pertains to global trade issues. Asked if he thought the country was in a […]

Gold Steady as Federal Reserve in Focus

Gold has posted small gains in the Wednesday session. In North American trade, the spot price for one ounce of gold is $1297.73, up 0.13% on the day. On the release front, the Federal Reserve is expected to raise interest rates to a range between 1.75% and 2.00%. On the inflation front, there was positive […]

GBP/USD – British pound steady as CPI matches forecast

The British pound continues to have an uneventful week. In Wednesday’s North American trade, GBP/USD is trading at 1.3378, up 0.04% on the day. On the release front, British CPI remained pegged at 2.4% for a second straight month and matched the forecast. Another key inflation indicator, PPI Input, jumped 2.8%, crushing the estimate of […]

Trump Blames OPEC for High Oil Prices

U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. Trump sparked the latest back-and-forth when he renewed his attack on OPEC in […]