Financial News
- James Hyerczyk
Kohl’s reported a surprise quarterly loss and forecast full-year profit well below analysts’ estimates due to steep discounts.
- Bob Mason
Euro area manufacturing PMI numbers failed to move the dial as the China PMIs resonated. German inflation figures will influence, however.
- Vladimir Zernov
Chicago PMI has also missed expectations, highlighting the negative impact of higher interest rates.
- James Hyerczyk
Home prices in December were 5.8% higher than the previous December, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
- Bob Mason
Economic data from France supports a 50 basis point rate hike in March, with a pickup in French inflation likely to be of some concern for the ECB.
- Vladimir Zernov
Pending Home Sales continue to recover despite high interest rates.
- James Hyerczyk
U.S. Core Durable Goods Orders rose more than expected in January, but Durable Goods Orders posted a steep decline.
- Bob Mason
It was a busy morning for the EUR/USD and the DAX. The Eurozone business and consumer survey drew interest ahead of the US session.
- Bob Mason
It is a busy week ahead for the global financial markets. After the shift in sentiment toward the Fed, central bank chatter will draw plenty of interest.
- Bob Mason
US mortgage rates were on the rise for a third consecutive week, with the latest Core PCE Price Index numbers signaling a possible return to 7.00%
- Vladimir Zernov
The better-than-expected New Home Sales and Consumer Sentiment reports put additional pressure on riskier assets.
- James Hyerczyk
On an annual basis, the Core PCE Index rose 4.4%.
- Dennis Shen
Scope Ratings’ upgrade of Greece’s Outlook to Positive implies at least a one-in-three probability of an investment-grade rating within 18 months. How will challenging conditions play into prospects?
- Bob Mason
Stats from Germany disappointed today, with consumer confidence up modestly and the German economy weaker than previously expected.
- Vladimir Zernov
Domestic oil production has started to grow as producers ignored recession worries.
- James Hyerczyk
Weekly Jobless Claims figures once again highlighted the tight labor market, while the GDP Price Index indicated stubbornly strong inflation.
- Bob Mason
Euro area inflation softened in January to 8.6%, supporting a 50-basis point rate hike in March. US stats up next along with Fed chatter.
- Vladimir Zernov
The initial market reaction shows that traders are worried that Fed will be more hawkish than previously expected.
- James Hyerczyk
“Let’s be sharp now, let’s get inflation under control in 2023” – Bullard
- Thomas Gillet
Egypt’s shift toward a flexible exchange rate promises multiple benefits but creates difficult trade-offs for the government. Narrow policy options and reduced external support put capacity to service debt at risk.