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Michigan Consumer Sentiment data as expected. The table is set for the FOMC!
The FOMC meets on Wednesday and is likely to lift the Fed Funds rate by 75bps from 2.5% to 3.25%.
US data dump shows mixed results; US Dollar treading water
With mixed data from US Retail Sales, the Philly Fed Manufacturing Index, and the NY State Empire Manufacturing Index, the US Dollar has been quiet.
Worse than expected US Manufacturing Production and Industrial Production top off a rough data week
Fed Chairman Powell said he does not see a spillover from the high inflation into the broader economy. Therefore, the Fed excepts to continue hiking rates.
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Housing data and Philly Fed results don't inspire much hope for US economy
Jerome Powell said at yesterday’s FOMC press conference that he doesn’t see signs of a broader slowdown in the economy. Will his view change?
Fed Manufacturing Indexes not supporting a strong recovery
Will this data continue to fall? It may depend on whether crude oil remains at elevated levels.
When cracks appear in the rendering, the house doesn’t always win
The housing market has been a bedrock of the US economy during a period of historically low rates. Now those days are over, large cracks are appearing in the rendering.
Home buyers were out in full force in September; DXY, EUR/USD
New Home Sales for September MoM were up 14%!
Horrible German data and talk of a new European bond buying program; EUR/USD
If Eurozone data continues to come out weak, the ECB may be forced to compensate for the expiration of the Pandemic Emergency Purchase Program in March 2022 with a new QE program
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