The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and consumer spending might keep inflation higher for longer.
Month: August 2023
Bear in mind that the selling does tend to intensify in US trading as it has been the case since last week. But already we are seeing some cautious tones in Europe today, with S&P 500 futures and Dow futures both down 0.2% and Nasdaq futures down 0.3%. That is weighing further on European indices
In the face of mounting tumult across stocks, bonds, and the crypto realm, the currency market projects an island of relative calm. Despite the extended rout in equities and treasuries and the dramatic tumble in Bitcoin, the forex market has responded with comparative restraint. A discernible dip in commodity currencies is on display, with Australian
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT A Target department store on May 17, 2023 in North Miami Beach, Florida. Joe Raedle | Getty Images Target will report fiscal second-quarter earnings on Wednesday, as consumers send mixed messages about their willingness to spend. The discounter, which saw enormous sales gains during the
Share: GBP/JPY trades lower due to moderate Japan’s inflation data. Better-than-expected Export figures could provide support to JPY. China’s economic downturn woes could impact the Japanese Yen. GBP/JPY trades lower around 185.60 during the Asian session on Friday, extending losses for the second consecutive day. The Japanese Yen (JPY) gets support from moderate Japan’s inflation
Gold hovered around a five-month low on Thursday, after data pointed to a resilient U.S. economy and raised prospects that the Federal Reserve may hike interest rates once more this year. Spot gold was up 0.3% at $1,896.70 per ounce by 1144 GMT, trading near its weakest level since March 15 of $1,888.30. U.S. gold
USDJPY tumbles into the US close As stocks started to slide and US rates also came off of it’s highs, the USDJPY started a reversal to the downside. The current hourly bar has seen the price of the pair move from 146.16 to a low of 145.63. That move to the downside, took the price
Info via Reuters that is seeking protection from creditors in the United States under Chapter 15 of the U.S. bankruptcy code Earlier this week, the embattled property developer resolved to delay its meetings for the Hong Kong CEG Class A and Class C holders of debt to provide them more time to consider its fresh
Dollar relinquished its early gains, entering US session as the day’s softest currency. Even as US benchmark 10-year yields skyrocketed to touch 4.3% mark, they found themselves lagging behind their German and UK counterparts. On the flip side, Australian Dollar is mustering a recovery, buoyed in part by China’s proactive measures to stabilize Yuan’s exchange
Traders work on the floor of the New York Stock Exchange (NYSE), August 15, 2023. Brendan McDermid | Reuters China’s economic model is “washed up on the beach” and “not going to take off again,” which will have a big impact on global markets, says veteran investor David Roche. Despite a remarkable rally in stock
The Adyen logo displayed on a smartphone. Rafael Henrique | SOPA Images | LightRocket via Getty Images Shares of Adyen, the European payments giant taking on U.S. titan Stripe, fell nearly 28% on Thursday after the company reported worse-than-expected sales and a profit drop in the first half of the year. Here’s how the company
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The central bank of Colombia has not yet decided whether or not to issue a central bank digital currency (CBDC), but believes that setting limits on CBDC transactions could bring about a number of benefits. In its latest CBDC study, titled “Expected Macroeconomic Effects of Issuing a Retail CBDC,” Colombia’s Banco de la República concluded
Share: Euro pierces the 1.0900 hurdle vs. the US Dollar. Stocks in Europe keeps the negative performance so far. EUR/USD looks supported around the 1.0860 for the time being. The USD Index (DXY) meets initial resistance near 103.60. EMU trade deficit shrank more than expected in June. Philly Fed index surprises to the upside in August. The Euro
Gold fell on Thursday after a firmer dollar index (DXY) and Fed July FOMC minutes triggered mayhem on the Street due to expectations that the Federal Reserve would carry on with its policy tightening. The DXY was trading with a positive bias at 103.54 against a basket of six top currencies, making the yellow metal
The US real yields keep on rising non-stop and given the inverse correlation with Gold, we saw the precious metal falling non-stop as well. The economic data continues to show a resilient economy even after the second most aggressive tightening in history and this makes the market wonder if the Fed might need to do
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