It’s only April and store closures are above 2016 levels Competing with online shopping is a death sentence for many retailers. Generations of overbuilding have meant far too much retail square footage.
Weekly EIA data – Prior was +3306K – Gasoline -2968K vs +450K expected – Prior gasoline +458K – Distillates -3107K vs -376K expected – Prior distillates -1044K Oil is at the highs of the day at $68.28 on the heels of the data.
S&P 500 up 0.26% The S&P 500 rose 8 points to 2714 at the open after a 26-point gain on Tuesday. The index is at the best levels since March 21, which was the day the Fed hiked.
USD/CAD at 1.2560 USD/CAD rose as high as 1.2598 today but selling at the big figure has been the story since. The US dollar is broadly weaker and that’s pulled the pair down to 1.2560.
What are your trade ideas? The Bank of Canada didn’t give the hawks or doves any clear indications about what they will do in May. That will leave us watching charts and watching economic data.
The Castro era nears an end One day, Cuba will open up and there will be some of the greatest investment opportunities of our lifetime.
Closing changes for the main indexes – German DAX – flat – French CAC +0.5% – Spain IBEX +0.6% – UK FTSE 100 +1.3% – Italy MIB +0.6% The FTSE liked the soft inflation data because it makes a hike in May less likely.
Five-Star leader Di Maio may try to form government without a coalition Di Maio says he is ready to form a government with Lega. Political risk for the euro isn’t a big factor right now but this isn’t great news.
What a milestone Today marks seven years since Greg’s first post at ForexLive. He was with us for a period, left and then returned. We’re so blessed that he did.
Highlights of the Fed’s Beige Book – Fed sees only modest wage gains in most districts with businesses turning to automation and more training to deal with shortfalls A bit of caution on wage growth. The big question going ahead is whether the Fed wants to wait-and-see on inflation or continue to act first.