Strong US economic reports fuel optimism

Financial markets came out of their torpor yesterday, as optimism came back with a vengeance. The release of good US economic reports as well as high expectations ahead of Mr. Biden’s budget announcements have supported equities, a move however thwarted by the parallel rebound in bond yields, the US 10y jumping above 1.6% again. This helped the USD to recover somewhat as well, the EUR/USD exchange rate falling below 1.22. The economic agenda is full today, with in particular personal spending and income data in the US as well as the core personal spending deflator, the Fed’s preferred measure of inflation.

us-recovery
Share this news :

You might also read :

ES-economy
November 16, 2021

Sharp fall in the euro

The EUR/USD exchange rate plunged yesterday after Christine Lagarde reaffirmed her belief that inflation would quickly fall below 2% and that an ECB rate hike was highly unlikely by…
ES-gas
May 3, 2021

European prices extended gains

European gas prices increased sharply on Friday. In addition to persistent concerns about Russian flows via Ukraine, there was the effect of the fall in…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet? 

[booked-calendar]