The Atlanta Fed’s GDPNow model of third-quarter growth rose to 2.9%, up from 2.7% in today’s data. This is the highest growth forecast for the third quarter. It is also up sharply from the...
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Canadian dollar hits a 22-month low. What’s next
The Canadian dollar is at an interesting spot on the global spectrum of risk assets at the moment. Domestically, it’s been a good year with strong GDP growth as the economy reopened from covid....
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Key events and releases for the week starting August 22
What key events and releases will be driving the markets next week? Tuesday , August 23 various flash PMI estimates for Europe and UK US/services and manufacturing PMI indices, 9:45 AM ET. Manufacturing PMI...
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All your Fed previews in one place
In case you missed it earlier, Adam put up a great preview here earlier in the day. We’ve been stuck in a bit of a pre-Fed lull in Europe and that isn’t anything too surprising. All...
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The downturn in the Russian economy may be only 3.5-5% in 2022 – Sberbank
The downturn in the Russian economy could be as little as 3.5-5% in 2022, Sber CIB analysts believe. Graph of annual growth / recession of the Russian economy “Business activity in Russia is...
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US wholesale inventories +1.8% vs +2.0% expected
Prior was +2.0% Sales +0.5% vs +0.9% expected This is a lower-tier indicator but it’s important for GDP calculations and could result in a further downward revision to the Atlanta Fed GDPNow tracker later...
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Feds Williams: Debate of 50-75 bps is right position for July meeting
NY Fed Pres. Williams is on the wires saying: Debate of 50-75 basis points is right position for July meeting More data to come, but Fed still need to move expeditiously to more normal...
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Wells Fargo thinks US recession is already here
US GDP will show negative growth already in the 2nd quarter. According to Wells Fargo, there is no longer any need to worry about the risks of a recession in the US, because the...
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