USDCAD:BULLS TAKE CONTROL AMIDST CPI
Treasury yields recover from the previous day's losses as worries about China's economic slowdown and US government gridlock combine.
The government is continuing its zero-tolerance policy, and the severity of the cases isn't showing a similar correlation, so the chances of China reopening have shifted to the downside.
With the most recent addition of 8,335 for November 2008, China reports the highest levels of new COVID cases in six months, while also marking a new virus-led lockdown in Guangzhou's second district.
According to Goldman Sachs analysts, there is a 35% chance that the US economy will experience a recession in the coming year. The extreme difference between the desired inflation target and the current inflation rate, the aggressive tightening of Fed policy, and the extraordinarily uncertain conditions in US domestic politics and geopolitics are the causes of the rising recession fears.
The US dollar index (DXY) has since printed a new seven-week low at 109.35, showing a less assured pullback
The government is continuing its zero-tolerance policy, and the severity of the cases isn't showing a similar correlation, so the chances of China reopening have shifted to the downside.
With the most recent addition of 8,335 for November 2008, China reports the highest levels of new COVID cases in six months, while also marking a new virus-led lockdown in Guangzhou's second district.
According to Goldman Sachs analysts, there is a 35% chance that the US economy will experience a recession in the coming year. The extreme difference between the desired inflation target and the current inflation rate, the aggressive tightening of Fed policy, and the extraordinarily uncertain conditions in US domestic politics and geopolitics are the causes of the rising recession fears.
The US dollar index (DXY) has since printed a new seven-week low at 109.35, showing a less assured pullback
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