Category: Macro
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Wall Street Analysts Discuss Fed’s Next Steps After Inflation Data
The recent US consumer inflation data (CPI), released on Wednesday, brought relief to some economists who feared that the Fed would not be able to cut rates this year. The 0.3% change in the CPI in April, slightly below the last three months and median projections, coincided with an unexpected stability in retail sales for…
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Biden Administration Imposes Hefty Tariffs on Chinese Imports to Protect U.S. Industries
In a significant move on Tuesday, the White House announced that President Joe Biden has decided to impose increased tariffs on a range of Chinese goods, escalating tensions between Washington and Beijing. The new policy targets key sectors including electric vehicles, semiconductors, and various minerals, marking a major step in the U.S. government’s efforts to…
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EIA: US crude inventories down by 6.4 million barrels
Commercial crude oil inventories in the United States, not considering those in the Strategic Petroleum Reserve (SPR), went down by 6.4 million barrels to 453.6 million barrels in the week ending April 19, the Energy Information Administration (EIA) stated in its report published on Wednesday. Oil refinery inputs averaged 15.9 million barrels per day (bpd)…
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US mortgage applications down 2.7%
Mortgage applications in the United States decreased by 2.7% on a seasonally adjusted basis in the week ending April 19, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey showed on Wednesday. According to the report, the average 30-year mortgage rate increased to 7.24% from 7.13%. The Refinance Index fell 6% compared to the previous…
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US durable goods orders up 2.6% in March
The number of durable goods orders in the United States went up by 2.6% or $7.3 billion in March, landing at $283.4 billion, a report published by the United States Census Bureau on Wednesday showed. Transportation equipment led the upbeat trend, jumping 7.7% or $6.8 billion in comparison to the previous month, coming in at…
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Week Ahead – April 22nd: Investors Brace for Earnings Bonanza and Key Economic Data Releases Globally
Investors across the United States are gearing up for one of the busiest weeks on the earnings calendar, with major tech titans like Alphabet, Microsoft, and Meta set to report their quarterly results. Other significant U.S. companies such as Verizon, Visa, Tesla, and Amazon among others, are also on deck, promising a week full of…
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Oil Prices Stabilize After Initial Surge Amid Israeli-Iranian Tensions
Oil prices experienced a volatile trading session, initially surging over concerns about the escalating conflict between Israel and Iran, only to pare those gains as Iranian media downplayed the impacts of recent Israeli strikes. Brent crude (CCOM:OILBRENT) steadied around $87 a barrel after an earlier jump of more than 4% to above $90, driven by…
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US initial jobless claims unchanged at 212,000
The number of seasonally adjusted initial jobless claims in the United States came in at 212,000 in the seven days ending April 13, unchanged from the previous week’s revised level, the Department of Labor stated in its report published on Thursday. The 4-week moving average was also unchanged compared to the previous week’s unrevised level,…
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US mortgage applications up 3.3%
Mortgage applications in the United States increased by 3.3% in the week ending April 12, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey published on Wednesday. According to the report, the average contract interest rate for 30-year fixed-rate mortgages jumped to 7.13% from last week’s 7.01%, reaching the highest level since December…
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EIA: US crude inventories up by 2.7M barrels
Crude oil stockpiles in the United States jumped by 2.7 million barrels to stand at 460.0 million barrels in the week ending April 12, the US Energy Information Administration shared in its report on Wednesday. The crude oil refinery inputs in the country averaged 15.9 million barrels per day, increasing 131,000 barrels per day from…