Ed Moya, Senior Market Analyst at OANDA joins me to recap the recent mixed data that is shinning a light on the US consumer. The weak retail sales data is a negative sign but the strong bank earnings are telling a different story. These are both back looking data points but they are important to note as the consumer has been the main support leg for the US economy. We also wrap with comments on the extreme volatility in the Pound all thanks to the recent Brexit advancements.
John Rubino, Founder of the Dollar Collapse website joins me today to discuss why he is concerned about the balance between rising debt and falling interest rates. This all comes on the back of the weak data this morning out of Germany and all last week from the US.
Chris Temple joins me today for a full recap of the recent slew of weak economic data that has driven markets significantly lower. As much as the data has impacted markets there is a bigger story of global issues finally creeping into the US. Also take note of Chris’s comments regarding the US dollar.
After a disappointing ADP jobs number today that was preceded by the weak manufacturing data yesterday the overwhelming factor pointed to is global growth concerns. As much as Trump wants to push on the Fed to lower rates business are not willing to borrow more money and invest when the global outlook is so cloudy.
Ed Moya, Senior Market Analyst at OANDA joins me to focus on this overwhelming point. We look to the sectors that are showing this as well as some of the upcoming political events that have the potential to either clear up the situation or drive the world further into a recession.
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me to share his thoughts on the weak ISM number from today and look ahead to the US jobs data that is coming up at the end of the week. We also dive into the IPO market after WeWork pulled its IPO and some of the other unicorn companies have struggled since going public. Is this a sign liquidity is drying up or finally a come to realization that companies should be generating profits?
Chris Temple joins me for a close look at the disappointing ISM number from this morning that significantly turned markets. US equities started the day up with gold down but that all changed after the ISM number was released. A lot of the disappointment is being blamed on the tariffs but this is not the complete story.
Ed Moya, Chief Market Analyst at ONANDA joins me today for a look at the moves in the markets. We are seeing a continuation of fears in the market as US markets are selling off and the dollar and precious metals are moving higher. A lot of the fear revolves around the ongoing trade war between the US and China. For as negative as everyone is Ed shares some thoughts on how it could get better in the near term.
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show said that today is crucial for the markets. We discuss why he thinks today is so important then move to the big picture view of global financial markets. We have jobs data at the end of the week that will play directly into Fed expectations for the meeting at the end of the month. WE wrap up the call with quick comment on gold.
Marc Chandler, Managing Partner at Bannockburn Global Forex joins me today to recap the major data of the week and look closely at how the USD has reacted so far to Q1 GDP, jobs data, and the Fed statement. We also discuss the Fed’s comments when it come to inflation.
Chris Vecchio, Senior Currency Analyst at DailyFx.com joined me yesterday for a conversion focused on the US dollar. We discuss the major drivers, a lot from Europe, that could encourage the dollar to continue this strength.