U.S. retail sales surge 1.3% in April, largest gain since March 2015

U.S. retail sales in April recorded their biggest increase in a year as Americans stepped up purchases of automobiles and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the first quarter. The jump in sales reported by the Commerce Department on Friday is a boost for the sector that has been hit by sluggish demand…

BOJ’s Governor Kuroda has a big problem, the public aren’t listening

Bank of Japan Governor Haruhiko Kuroda has a big problem. His radical monetary policy experiment has always been aimed at convincing the public that an end to deflation is near – and right now the public aren’t listening. Concerns that a fresh burst of stimulus would be wasted on households and businesses so far unconvinced by the bank’s foray into negative rates, on top of huge money printing, were among the key factors behind last week’s decision to hold off from further easing…

UK consumer confidence hits 15-month low as EU referendum casts cloud over economy

Worries about the EU referendum in June and over a resurgence of the eurozone crisis have knocked consumer confidence in the UK to its lowest level in more than a year, according to a report. Market research firm GfK said its consumer sentiment indicator for April was the weakest for 15 months as households became gloomier about the UK’s economic outlook. The index dropped to -3 from a March reading of 0, when GfK also claimed referendum jitters had hit consumer confidence…

U.S. industrial production falls in March as manufacturing, mining activity remained weak

U.S. industrial production fell more than expected in March as manufacturing output dropped by the most in a year and mining maintained its downward trend, the latest indication that economic growth braked sharply in the first quarter. A rebound in growth is, however, anticipated despite other data on Friday showing a further erosion in consumer sentiment in early April…

Fed’s George, Lacker supported rate hike ahead of March meeting

The heads of two regional Federal Reserve banks supported a rate hike ahead of the Fed’s March meeting as an improving economy added to sentiment to tighten monetary policy. The heads of the Richmond and Kansas City Fed branches supported a quarter point hike in the main lending rates for banks “in light of continued improvements in labor market conditions and expectations that inflation would rise,” according to minutes of the Fed’s March discount rate meeting…

Oil prices inch higher after Kuwait says oil producers can reach freeze without Iran

Oil prices steadied on Tuesday after Kuwait said an output freeze by major oil producers would proceed without Iran, shoring up sentiment ahead of weekly data likely to show another record high in U.S. crude inventories. A meeting of oil-producing countries in Doha on April 17 will deliver an agreement to freeze output, Kuwait’s OPEC governor and two sources said…

Oil steadies, Wall Street pares losses, EUR/USD recovers after Brussels terror attack

Oil prices were steady on Tuesday as shares on Wall Street pared losses and the euro recovered against the dollar after deadly blasts in Brussels prompted an initial flight risk from financial markets. Brent was up 24 cents at $41.78 a barrel by 10:53 a.m. EDT, after hitting a session low of $40.97 earlier. U.S. crude CLc1 rose 12 cents to $41.64, recovering from an intraday low of $40.77…

U.S. consumer spending regained momentum in January

U.S. consumer spending regained momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015. But the outlook for consumer spending was tempered by another report on Friday showing sentiment among households ebbed in early February…

U.S. dollar weakens after dovish comments from Fed’s Dudley

The US Dollar put in a significant move of weakness after dovish comments from Mr. William Dudley of the New York Fed were construed to mean lower probabilities of deeper rate hikes in 2016. After these comments, markets priced out all rate hikes for 2016. There may be another driver for the Fed to kick up rates, and this may be one of the reasons that we’re so deep in this conundrum in the first place…

U.S. manufacturing sector continues to struggle but consumer sentiment, personal income rise

A gauge of U.S. business investment plans fell in November and the prior month’s increase was revised sharply lower as the drag on manufacturing from a strong dollar and spending cuts in the energy sector showed little sign of abating. But the outlook for the economy remains encouraging, with other data on Wednesday showing consumer sentiment at a five-month high in December and personal income rising for an eighth straight month in November…

China’s tumbling stock market halting as sell-off gains steam

China’s tumbling stock market showed signs of seizing up on Wednesday, as companies scrambled to escape the rout by having their shares suspended and indexes plunged after the securities regulator warned of “panic sentiment” gripping investors. Beijing, which has struggled for more than a week to bend the market to its will, unveiled yet another […]

U.S. consumer sentiment hits 8-year high in December

NEW YORK (Reuters) – U.S. consumer sentiment jumped in December to its highest level in nearly eight years on cheaper gasoline and better job and wage prospects, a survey released on Tuesday showed. The Thomson Reuters/University of Michigan’s final December reading on the overall index on consumer sentiment came in at…

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