Atlanta Fed GDPNow estimate for 3Q growth
The Atlanta Fed GDPNow estimate for third quarter growth up to 1.4% from 1.6% last.
Archives of “August 24, 2022” day
rssChinese onshore yuan sees weakest daily close against the dollar in two years USD/CNY closes the domestic session at 6.6854, its highest since 27 August 2020
It isn’t very much talked about in the context of broader markets this week but the latest weakening in the Chinese yuan is arguably one of the more significant developments in FX at the moment. The PBOC already teed up the move at the end of last week and whatever the case may be, it is a notable tailwind for the dollar to move higher.
Stocks close lower. Nasdaq gives up modest gains into the close
- Dow industrial average fell -154.04 points or -0.47% at 32909.60
- S&P fell -9.28 points or -0.22% at 4128.72
- Nasdaq fell -0.26 points (call it unchanged) at 12381.31.
- Russell 2000 did eke out a small gain of 3.3998 points or +0.18% at 1919.14
Thought For A Day
