The return of inflation, interest rate differentials and a quickly changing geopolitical landscape are the primary catalysts behind the recent surge in the value of the American dollar. … READ MORE >
Economics
Latest jobless claims and producer inflation show upside surprises
New filings for jobless benefits last week rose by 3.8% to 244,000 while producer inflation rose by a surprisingly strong 1.1% in June. … READ MORE >
Bank of Canada raises its policy rate by 1% to tame inflation
The Bank of Canada announced a 100-basis-point rate hike on Wednesday, the largest increase since 1998, in an attempt to restore price stability. … READ MORE >
U.S. June CPI: Persistent top-line inflation hits 9.1%
The top-line inflation rate hit 9.1% in June on the back of a 11.2% increase in gasoline prices and a 7.5% jump in overall energy prices … READ MORE >
Canada’s unemployment rate hits record low, even as economy sheds jobs
Bucking a trend of continuous job gains since January, Canada lost 43,000 jobs in June as the unemployment rate hit another record low of 4.9%. … READ MORE >
U.S. employment report for June indicates no recession now
An American economy in free fall does not tend to produce 372,000 jobs in any given month, as the June employment report showed on Friday. The data released by the Labor Department strongly implied that the economy is not in recession. … READ MORE >
Chart of the day: Service sector grows at slowest pace in two years
The ISM service index inched down to 55.3 in June, the slowest level of growth in more than two years since May 2020, when it was at 45.2. … READ MORE >
Job openings show signs of a slowdown
Job openings declined for the second straight month in May as the Federal Reserve’s rate hikes slowed down overall demand. … READ MORE >
U.S. June jobs preview: Slower hiring in rate-sensitive industries
We expect the June U.S. employment report to show a total gain of 225,000 jobs, with risk of a stronger pace of hiring and an increase in the unemployment rate to 3.7%. … READ MORE >
Inflation outpaces consumer spending for the first time this year
Personal spending declined on an inflation-adjusted basis in May as spikes in gasoline and food prices depressed consumer sentiment and dampened spending on other discretionary items. … READ MORE >