This was hoped to be a source of growth in GDP Fed’s Bostic is on the wires saying their survey shows tax cuts are not changing capital spending. The sharp cut in corporate tax rates were hoped to kick start investment in capital spending.
Special prosecutor visited federal magistrate in Washington The special prosecutor visited federal magistrate in Washington to return grand jury indictment against 12 Russian intelligence officers.
Mixed results for the week. The European stocks are ending the session with modest gains on the day: For the week, the results were mixed: In the 10 year debt sector today, yields moved lower today:
Moves higher this week The Atlanta Fed estimates growth at 3.9%. The New York Fed sees growth at 2.8% ForexLive
Atlanta Fed president speaking in Northern Virginia The Atlanta Fed president Raphael Bostic is speaking at a town hall chat in Northern Virginia. He says: ForexLive
GDP forecast moves higher in the current week The New York Fed GDPNowcast estimate for second-quarter GDP growth came in at 2.8%. That is unchanged from last week.
US economic activity expanded at a solid pace. The Fed report is a head of Gov. Powell’s semiannual testimony to Congress next week. for the full report.
Forex news for NY trading on July 13, 2018 A snapshot of other markets at the week’s end: – Spot gold is down $6.04 or -0.48% at $1241.40. The price is down from last Friday’s close at $1255.48 The US stock indices closed higher, with the Nasdaq eking out the 2nd consecutive record close day:
Trend line and 38.2% tested ForexLive
S&P and Dow also higher The NASDAQ composite index was able to squeak out a small 2.06 point gain or 0.03% and that was good enough for another record close.