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  • US Retail Sales Beat Forecasts, Defying Calls of Weaker Consumer

    From bnnbloomberg.ca

    US retail sales accelerated in July by the most since early 2023 in a broad advance that points to a resilient consumer, even in the face of high prices and borrowing costs. The value of retail purchases, unadjusted for inflation, increased 1% in July and helped by a sharp snapback in car sales, Commerce Department data showed Thursday. Excluding autos and gasoline stations, sales were up 0.4%. Ten of the report’s 13 categories posted increases. Car sales bounced back strongly after a cyberattack on auto dealerships led to a sizable drop in June. Electronics and appliances also posted solid gains. E-commerce sales ... (full story)

economic conditions in usa in superb form, really good. Only my opinion.
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Quoting BaliBoyz80
economic conditions in usa in superb form, really good. Only my opinion.
Not really; see other articles
" Americans' household debt surged in recent years amid challenging consumer environment
Delinquency rates for credit card debt and auto loans reached their highest levels in more than a decade"
Us economy might be strong. But the fear of the rate cute by 50bps in September would make investor look for other safe haven.
Quoting frioslegend
Us economy might be strong. But the fear of the rate cute by 50bps in September would make investor look for other safe haven.
the markets were pricing in a 50 bps cut, hence the dxy weakness. after todays data, that 50 bps cut likely won't happen and will in turn only be 25 bps. which would result in what we are seeing....dxy strength.
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Quoting Guest
{quote} Not really; see other articles " Americans' household debt surged in recent years amid challenging consumer environment Delinquency rates for credit card debt and auto loans reached their highest levels in more than a decade"
Nominal. That’s not really that bad. After so much inflation since 10years ago.

Crappy credit individuals always gonna over do it
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    • Older Stories  
    Fed's Musalem: don't think Fed is behind the curve, economy doing very well

    From @DeItaone|Aug 15, 2024|1 comment

    post: FED'S MUSALEM: DON'T THINK THE FED IS BEHIND THE CURVE, ECONOMY DOING VERY WELL post: FED'S MUSALEM: JUST HAVE TO BE CONFIDENT THAT INFLATION TREND IS SECURE post: FED'S MUSALEM: RISKS TO CUTTING TOO EARLY OR TOO LATE post: FED'S MUSALEM: **AM NOT IN FAVOR OF CHANGING INFLATION TARGET **MARKET VOLATILITY HAPPENS ALL THE TIME **AS A POLICYMAKER, ONLY CARE ABOUT VOLATILITY TO EXTENT IT TIGHTENS FINANCIAL CONDITIONS post: FED'S MUSALEM: MODELS SUGGEST INTEREST RATES GOING FORWARD LIKELY TO BE HIGHER THAN PRE PANDEMIC

    US Industrial Production Declined 0.6% in July

    From floordaily.net|Aug 15, 2024

    Industrial production fell 0.6% in July after increasing 0.3% in June, according to the Federal Reserve. Early July shutdowns concentrated in the petrochemical and related ...

    Fed's Musalem: Monetary policy is moderately restrictive

    From forexlive.com|Aug 15, 2024

    Monetary policy is moderately restrictive • Labor market is no longer overheated • Labor market no longer clear upside risk to inflation • Recent data have bolstered my confidence on inflation • Risk to both sides seem more balanced • Time may be nearing for a change in policy It doesn't get any clearer than this, he's ready to support a rate cut in September. He's also a voter in 2025 and sounds like he's ready to support a rate cutting cycle. post: FED'S MUSALEM: MORE DISINFLATION WORK TO DO

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