December 2020 CFNAI Super Index Moving Average Index Shows Little Change
The economy s rate of growth marginally improved based on the Chicago Fed National Activity Index (CFNAI) 3 month moving (3MA) average - but the economy remains below the historical trend rate of growth.
Analyst Opinion of the CFNAI This Month
This index is likely the best coincident indicator of the U.S. economy. A coincident indicator shows the current state of the economy.
This month, three out of the four broad categories of indicators improved.
The economy has slowed from its rate of growth in 2018 but now has moved above territory associated with recessions [a level below -0.7 indicates a recession is likely underway].
A Peek Into The Markets: US Stock Futures Up On Stimulus Hopes benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Tech climbs higher, retail traders win GameStop battle, COVID in focus, Chicago Fed, euro sinks
January 25, 2021SharePrint
This week is all about mega-cap earnings, but the early focus is falling on Biden’s agenda to support the economy, the power of the retail trader, and Merck’s COVID vaccine setback. Big tech has somewhat underperformed over the past few months and investors are trying to ramp up their love for FAANG stocks. Millennials’ relentless love for Apple, Tesla, Facebook, and Amazon and mounting COVID global lockdowns are simple reasons that are powering mega-cap stocks.
In what will be a steady stream of initiatives, President Biden’s “Buy American” plan is just one small part of the equation to fix the economy; the executive order will force federal agencies to buy US products and encourage more products are made domestically. This week will likely see more Republican objections arise and posturing from Democrats over Biden’s USD1.9 trillion stimu
1/25/2021 1:54:48 PM GMT
EUR/USD Current Price: 1.2144
The German IFO survey showed a contraction in business expectations in January.
European stocks fell with dismal German data, dragging Wall Street lower.
EUR/USD is at risk of extending its decline in the near-term.
The EUR/USD pair retreated from a daily high at 1.2182 and fell to 1.2139, following the release of the German IFO survey. The report was much worse than anticipated, as the Business Climate fell to 90.1 in January from a revised 92.2. The assessment of the current situation contracted to 89.2, while expectations fell to 91.1, all missing expectations. Doubts about Biden’s stimulus package add to the dismal mood, as lawmakers from his own party are against expanding coronavirus-related aid.