arrow
logo

Alvexo - Giving Back To The Community

Learn More

San Francisco Fed President Williams Hawkish On Rate Hikes

Williams Becomes the Latest Fed Official Hinting At September Rate Hikes

usd-rates-hawkish-alvexo


The San Francisco Federal Reserve President, in a speech last week came out in favor of rate hikes. He said that the central bank should raise rates sooner rather than later given the domestic momentum. While Williams is not an FOMC voting member, his comments are viewed as somewhat inclined to that of Fed President Janet Yellen.

German Producer Prices Rise in July


The producer price index in Germany showed a slight improvement in July but continues to remain strongly below the previous year's levels. Data from German statistics agency Destatis showed that the cost of prices leaving Germany factory gates rose 0.20% on the month. However, compared to a year ago, Germany's PPI was down -2.00%. Energy prices had the biggest effect with prices in the category down -6.20% compared to a year ago.

popup_close
1-eurusd-2208

UK Budget Surplus Falls in July


Official data from the UK's Office for National Statistics showed on Friday that the UK's budget surplus fell more than expected in July. The public sector’s net borrowing excluding banks totaled 1 billion Pounds in July. Economists were expecting to see a surplus of 1.9 billion. By end of July, the UK's public sector net debt amounted to 82.90% of its GDP, marking a second successive month of debt falling on the year.

popup_close
2-eurgbp-2208

Canada: Retail Sales and Inflation Disappoints


Canadian retail sales slowed in June, falling well below expectations on weaker food, beverage and general merchandise sales. The value of retail sales fell -0.10% in June to a seasonally adjusted 44.14 billion according to data from Statistics Canada. The markets were expecting to see a 0.50% increase instead. The decline in retail sales come after May's data was unchanged. Consumer prices in Canada were also weaker as the annual inflation decelerated in July.

popup_close
3-usdcad-2208

British Pound Slips On Article 50 Rumors


The British pound fell around -0.75% against the US dollar by market close on Friday as traders pointed to a media report from Bloomberg which showed that Prime Minister Theresa May’s team could trigger Article 50 by April next year. The report said that invoking Article 50 would kick-start formal discussions around the divorce proceedings with the European Union. However, the rumors were quickly dismissed after officials from 10 Downing Street issued a press statement saying that there has been no change in the government's position.

popup_close
4-gbpusd-2208

Upcoming Events

  • Time
  • Currency
  • Event
  • Forecast
  • Previous
  • 12:00 GMT
  • CAD
  • Wholesale Sales (MoM)
  • 0.50%
  • 1.80%
  • 12:30 GMT
  • AUD
  • CB Leading Index (MoM)
  • -
  • 0.10%