Economic News Category

Gold Steady and Dollar Undermined:   After silver’s big plunge on Monday, both precious metals have managed to steady the ship, suggesting the move at the start of the week was probably a bear trap. The US Dollar has come back against the Canadian dollar thanks to a 25- basis point rate hike from the

Australia CPI: Headline CPI 1.9%qtr/7.8%yr; Trimmed Mean 1.7%qtr6.9%yr; Weighted Median 1.6%qtr5.8%yr. Hospitality services most important factor in the upside surprise in the December quarter but with the Trimmed Mean coming in broadly as expected this suggests the pace of core inflation is generally unfolding as we expected. The CPI lifted 1.9% in the December quarter

25bp Hike from Bank Of Canada expected The Bank of Canada are expected to hike interest rates by 25bp tomorrow according to market pricing and economists. The hike would see their benchmark rate rise to 4.5% – its highest level since October 2007 – and on par with the Fed yet above the RBNZ’s 4.25%

GBP/USD: Pound Counts on the Best. As in the US, retail sales in the UK also went down. They fell -1.0% in December, which is significantly lower than the forecast +0.5%. Analysts note that real spending in the country was significantly ahead of GDP in 2020-2022, but the rise in inflation led to a sharp

Australian Dollar Bright Start in 2023 The Australia dollar has started 2023 strongly, rising above 70 cents to highs since August. A softer USD and improved China sentiment have been key. This week’s highlights include Australia’s jobs data, the Bank of Japan decision and US retail sales. The SUD has risen about 1.6 cents or