US May consumer sentiment data from the University of Michigan The market is patient with the lack of improvement in May but if the preliminary June number is below 80 then the market is going to start to bury the v-shaped narrative and start to worry about a slog.
Blogs
Trump has his hands full today but China is on his mind
The President tweets out 'China' Ok, it was in all-caps and with an exclamation point. In the crazy world we live in where traders try to make sense of what's going on in the Oval Office, this is meaningful.
More Americans than believed are making more on unemployment (sometimes much more)
Surprise jump in personal income highlights the issue How much should someone earn who is laid off due to COVID-19? You can certainly make the case they should be made whole and that was the idea of the CARES Act. It took the regular $370 weekly US unemployment benefit and added $600 to get to […]
Canada Q1 GDP -8.2% vs -10.0% expected
Canada first quarter GDP There's nothing surprising in this report. Q2 is going to blow away the numbers we see here, especially with so much of Canada still locked down.
US advance goods trade balance for April $-69.7 billion vs. $-65.0 billion estimate
US advance goods trade balance for April 2020 – US advance goods trade balance $-69.7 billion vs. $-65 billion estimate – prior month revised $-64.4 billion
US wholesale inventories for April (P) 0.4% vs. -0.7% estimate
US wholesale inventories for April (preliminary) 2020 – US wholesale inventories preliminary for April +0.4% vs. -0.7% estimate – prior inventories -1% vs. -0.8% initially reported
US April personal spending -13.6% vs -12.8% expected
Highlights of the April 2020 personal income and spending report: Details: That personal income number is incredible. It speaks to the skew in additional unemployment benefits. The system was designed so workers would get an additional $600 per week. That put the income received at the national average. The thing is, the workers getting laid [&hell
ForexLive European FX news wrap: Softer dollar as markets wait on Trump
Forex news from the European trading session – 29 May 2020 Headlines: Markets: – EUR leads, USD lags on the day – European equities lower; E-minis down 0.3%
EU's De Rynck on Brexit talks: It is a tall order to get an agreement on fisheries by the deadline
De Rynck is the senior adviser to EU chief Brexit negotiator, Michel Barnier – The position on fisheries is still similar, but must find space for compromise – There is no appetite on the EU side to revise the mandate on fisheries He is clearly trying to tone down the report on this matter from […]
Trump lambastes Twitter, says it is doing nothing about the lies and propaganda from China
Trump tweets out more criticism against Twitter Twitter is doing nothing about all of the lies & propaganda being put out by China or the Radical Left Democrat Party. They have targeted Republicans, Conservatives & the President of the United States. Section 230 should be revoked by Congress. Until then, it will be regulated! See [&