Girl Scouts adding new cookie to 2022 lineup

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Fox Business 18 August, 2021 - 11:50am 10 views

What is the new Girl Scout cookie for 2022?

Girl Scouts adding new Adventurefuls brownie cookies for 2022 season. Girl Scouts revealed Tuesday that the new Adventurefuls cookie will join its national lineup for the 2022 season. Adventurefuls is a brownie-inspired flavor with a combination of chocolate and caramel flavors. USA TODAYGirl Scouts adding new Adventurefuls brownie cookies for 2022 season

FOMC Minutes of the July meeting might have convinced the final doubters that the US central bank soon will give the all clear to start tapering asset purchases “in coming months”. The majority of Fed members is convinced that sufficient progress has been made towards reaching the symmetric 2% inflation target, but wanted slightly more proof on the health of the labour market. July payrolls (nearly +1 million) already worked their magic with a solid August report probably being sufficient to announce a tapering framework at the September FOMC meeting. The effective dialing back of purchases can than commence in Q4 as a quid pro quo for the doves inside the Fed. While the effective start date and the exact pace of reducing the current $80bn/month US Treasury and $40bn/month MBS purchases remains topic of debate, Fed members did reach a consensus on dialing back both programmes proportionally in order for them to end simultaneously. We could be looking at a mid-2022 end date on the back of comments by individual Fed governors hinting at a faster tapering than the 10 months during the previous cycle because of a stronger economy/labour market and hotter inflation compared to back then. Additionally, the Fed currently has to deal with supply rather than with demand problems. Such tapering scenario paves the way for a rate lift-off by the end of 2022.

The release of the Minutes triggered some volatility in the US Treasury and FX market, but no directional move. The one market that did show a significant reaction was the US stock market. Different positioning is a likely reason. Main indices fainted in the final trading hour to lose around 1% in the close. Risk aversion spills into Asian dealings overnight Korea and Taiwan underperforming (> -2%). The dollar is flexing its muscle, forcing technical breaks. EUR/USD drops below 1.1704/1.1695 support to change hands near 1.1680, the lowest level since November last year. Intermediate support stands at 1.1612/03 (Sep/Nov 2020 low) ahead of the next key technical level of 1.1495/93 (March 2020 high/50% retracement 2020 EUR/USD rally). The trade-weighted greenback (DXY) forced its way above the 93.19 July top to currently test the YTD high at 93.44. Moving north of this level will accelerate EUR/USD selling. Even the Japanese yen can’t keep up with the dollar this morning despite the risk-off climate. USD/JPY paves its way back above 110. Core bonds for now can’t choose sides between the upcoming tapering and risk aversion. We think the risk climate will play first fiddle, suggesting a positive short term bias for bonds. Today’s eco calendar contains US weekly jobless claims and Philly Fed Business Outlook. We don’t expect them to impact trading with risk sentiment the key driver.

Australian employment unexpectedly grew a marginal 2.2k in July. Markets expected a decline of more than 43k. The rise came on the account of part time jobs (+6.4k). The unemployment rate declined further below pre-pandemic levels to 4.6% while consensus saw a minor rise possible. The good news ends here though, since the fall was largely the result of an easing participation rate from 66.2% to 66%. Hours works also fell 0.2%. Additionally, future job reports are likely to feel the impact from more (regional) lockdowns that have been introduced in the course of July and August. The Aussie dollar slips and is currently testing and risks losing the AUD/USD 0.72 big figure. A generally stronger USD in the wake of the Fed policy meeting minutes and Asian risk-off is also playing.

Iron ore slips another 6%+ this morning, bringing the total decline from its 2021 high to more than 35% already. The accelerating selloff comes as China is pushing forward with its pledge to reduce steel production in order to cut carbon emissions. At the same time, demand for iron/steel in the country is waning and expected to soften further amid efforts by authorities to reduce leverage, tightening property policy and a general slowdown of economic momentum.

This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.

EUR/USD is trading below 1.1700, sitting at the lowest level since November 2020 on broad US dollar strength. Coronavirus fears underpin greenback’s safe-haven demand, DXY technical breakout adds fuel to rally amid Fed’s tapering expectations. US Jobless Claims awaited.

GBP/USD edges lower towards 1.3700 ahead of the London open. The US dollar continues to stay strong on risk aversion and hawkish FOMC minutes. Sterling struggles with slowing inflation, which suggests BOE could be in no hurry to raise the interest rate.

Gold fades bounce off intraday low while trading around $1,778, as European traders brace for Thursday’s bell. The yellow metal prints the biggest daily losses since the August 09 slump as the market sentiment sours amid coronavirus fears. 

Solana price saw a sudden outburst of buying pressure on August 14, which originated a massive and explosive rally. This upswing pushed SOL to a new all-time high. Solana price flashed a sell signal on August 13 and set up a red daily candlestick the next day. 

Minutes of July 27-28 FOMC advance taper discussion. Credit market response shows caution,  yields stable. Equities fall hard on rate fears, dollar gains on safety. July Retail Sales and Aug Consumer Sentiment may delay implementation.

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