The Eurozone economy returned to expansion in the second quarter with real GDP rising by 0.3% q/q – beating expectations of 0.2% q/q. This follows an upwardly revised 0.0% in Q1 and a 0.1% contraction in Q4 2022. In…
Last Friday, the Central Bank of Chile became the first major Latin American monetary authority to cut rates, thereby beginning the EM monetary easing cycle. In its latest meeting, board members decided to reduce the policy…
In the monthly Daily Insights Survey we conducted over the past week, we asked about our readers’ outlook for the US economy, regional equity allocation, and EUR/USD. On the outlook for the US economy, the majority of…
According to BCA Research’s Global Investment Strategy service, it is too early to conclude that the Fed can stop raising rates. Consumption and real income growth are highly correlated. If inflation continues to fall,…
US economic data released on Friday continued the string of good news about the US economy. On the inflation front, core PCE inflation – the Fed’s preferred gauge of underlying price pressures – softened to 0…
On Friday, the Bank of Japan announced an important tweak to its yield curve control (YCC) program. Although it maintained the 0.5% cap on 10-year bond yields, it indicated that it will manage the program with “greater…
We are now midway through the Q2 2023 earnings season: 254 of the companies in the S&P 500 have reported. It’s therefore worthwhile to stand back and observe some of the emerging trends. According to Refinitiv IBES,…
BCA Research’s Bank Credit Analyst service recently featured currency valuation models developed by our Foreign Exchange Strategy service. According to these models, the US dollar is extremely overvalued and thus vulnerable…
The DXY will continue to have near-term upside, as economic growth holds up in the US, while it deteriorates in other parts of the world. Remain constructive on the DXY at current levels, but pivot to a short position on evidence US…
On the surface, US economic data delivered strong upside surprises on Thursday. The advance estimate of GDP growth shows economic activity accelerated from 2.0% to 2.4% in Q2 – surprising expectations of a slowdown to 1.8…