EUR/USD Continues To Slump After ECB Rate Cut
Image Source: Pixabay EUR/USD lost another one-third of one percent on Thursday. The ECB cut rates in-line with expectations, stripping support from underneath the Euro. US data blew the doors off market forecasts, further bolstering the Greenback. EUR/USD continues to backslide following the European Central Bank’s (ECB) quarter-point rate trim early Thursday. A lack of bullish […]
Liquidity Drain Threatens To Disrupt Markets In 2025
Image Source: Pixabay When today’s guest was on this channel back in March, he explained that rising net liquidity was responsible for the surprisingly strong performance seen in both the economy & the financial markets over the past 2 years.And he predicted that these net liquidity inflows would continue, leading to even higher asset prices ahead.Well, […]
Is The Federal Reserve A Private Bank? It Doesn’t Matter.
Image source: Pixabay After many years of writing articles on the Federal Reserve and central banking, there is one thing I can always expect in the hours following the publication of an article about the Fed: a reader will send me an indignant email insisting that the Federal Reserve is a private organization and that this […]
As Go The Semis, So Go The Markets
The key stock story this morning is Taiwan Semiconductor’s (TSM) raised guidance. Sure, the stock beat its EPS estimate, but as we outlined yesterday, the important part was that it raised guidance. The stock is up nearly 10%, breaking out to all-time highs, and the Philadelphia Semiconductor Index (SOX) recovered much of the ASML-induced losses from […]
Real Retail Sales Increased In September, But Concern – And Their Yellow Flag – Continue
A periodic reminder, real retail sales is one of my favorite economic indicators, because it tells us so much about the state of the consumer, and since consumption leads employment, it is a short leading indicator for that as well.In September retail sales in August rose 0.4% on a nominal basis. After adjusting for inflation, […]
Mapped: Home Price-To-Income Ratio Of Large U.S. Cities
Many Americans continue to find homeownership financially out of reach due to rising house prices and stagnant wages, among other contributing factors. But which U.S. cities are the least affordable?One way to assess housing affordability is through the home price-to-income ratio, which measures the ratio of the median home price to the median household income.This map shows the home […]
Mid-October Reading On Business Cycle Indicators – NBER BCDC And Alternatives
Industrial and manufacturing production below consensus (-0.3% m/m vs -0.1%, -0.4% vs -0.1%, respectively), while retail sales and core retail sales above consensus (+0.4% m/m vs +0.3%, +0.5% vs +0.1%, respectively). Here’s the resulting two pictures, first one for those indicators followed by the NBER BCDC, and the second one alternatives. Figure 1: Nonfarm Payroll (NFP) […]
Industrial Production Unexpectedly Declines 0.3 Percent With Huge Negative Revisions
The Bloomberg consensus was a decline of 0.1 percent. Factoring in negative and positive revisions the decline was about 0.5 percent.Blame the HurricanesThe Fed blames the hurricanes in its September Industrial Production Report. Industrial production (IP) decreased 0.3 percent in September after advancing 0.3 percent in August. A strike at a major producer of civilian aircraft […]
The Shallow Downturn In Industrial Production Continues
Before I get to the (relatively) good news in retail sales, let’s take a look at the bad news from industrial production.On a monthly basis, production declined -0.3%. Manufacturing declined -0.4%. There were also downward revisions to last month. Both of these continue to slowly fade from their 2022 peak: On a YoY basis, production […]
Silver Worth $150-$170? – Facts To Make The Case For A Major Price Surge
Image Source: Pixabay The price of silver is often overshadowed by its flashier cousin, gold. While gold has been hitting new highs, silver is still playing catch-up. But that might not be the case for much longer. With some key historical trends and the current market setup, silver could be on the verge of a massive […]
