Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
16 August 2024,02:58
Weekly Outlook
16 August 2024, 02:58
For June 2024, Canada’s CPI rose by 2.7% year-over-year, down from 2.9% previously. This decrease in core inflation is driven by a combination of slower economic growth and moderated wage growth, even with a strong labor market. With the current monetary policy and expectations of slowing growth, the upcoming data release is expected to reflect ongoing slowdown with a slight decline.
The FOMC meeting minutes from July 2024 indicated that the Federal Reserve decided to maintain the federal funds rate within the target range of 5.25% to 5.50% and revealed a shift in the Fed’s focus. Previously, the emphasis was primarily on managing inflation risks. However, the latest statement reflects a more balanced view, considering both inflation and employment, which aligns with the Fed’s dual mandate. The upcoming release will likely reiterate on Fed cautious stance and focus on evaluating new economic data to determine whether further adjustments to the monetary policy are necessary.
The latest U.S. Initial Jobless Claims data, released on August 15, 2024, indicates that claims fell to 227,000 for the week ending August 10, down from 243,000 the previous week. This decline points to some stabilization in the labor market, despite broader economic uncertainties. Layoffs remain historically low, with much of the slowdown in the labor market coming from businesses scaling back hiring, trailing an immigration-induced surge in labor supply. Following current conditions, the upcoming data is expected to remain within a similar range unless significant disruption occurs.
For July, The U.S. Manufacturing Purchasing Managers Index (PMI) for July 2024 was reported at 49.6, indicating a contraction in the manufacturing sector as it fell below the 50 mark. This was a decline from the previous month’s reading of 51.6, signaling a worsening trend in manufacturing activity. The primary factors behind this decline include a reduction in new orders and production, as well as continued uncertainty in the economic environment. Survey respondents highlighted weaker consumer spending and reduced customer orders, which have been contributing to the sector’s sluggish performance The upcoming PMI is likely to remain under pressure as manufacturing sector may not see significant recovery until after the election cycle, as businesses await clearer signals on economic policy
Trade with simulated capital and earn real profits after you pass our trader assessment.
20 September 2024, 02:37 Fed’s Jumbo Rate Cut, Market Set To Rattle
13 September 2024, 02:11 Fed Rate Watch: The Week That Moves Markets!
6 September 2024, 02:12 Market Weigh the Odds, CPI To Tip the Scales?
Disclaimer: This website exclusively provides proprietary trading services. We do not engage in any regulated activities, offer investment management services, or manage funds on behalf of external clients. Our trading activities are conducted solely with the firm's own capital, and we do not accept client deposits or manage client accounts. It's important to note that none of the services we provide should be construed as investment or financial services in accordance with applicable laws.
This website offers services related to professional skill and experience assessment, which determine your eligibility to trade with the firm's capital. The outcome of these services is inherently determined by your individual skill level and ability to perform within the trading requirements and objectives outlined for each service separately. Clients are strongly advised to thoroughly understand the requirements of the services before signing up for any.
The content provided on this website is for informational purposes only and does not constitute financial, investment, or trading advice. The information presented is based on sources believed to be reliable, but we do not guarantee its accuracy, completeness, or timeliness. We disclaim any liability for any loss or damage arising directly or indirectly from the use of or reliance on the information provided on this website.
This website is not directed to residents of certain jurisdictions such as the United States, Singapore, Australia, China, Pakistan and some other specified regions, and is not intended for distribution to, or use by, any person in any countries or jurisdictions where such distribution or use would be contrary to local law or regulation.
