Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy. The comments, delivered during a speech in Washington, D.C., seemed to counter market anticipation for aggressive easing this year. “As long as inflation doesn’t rebound and stay elevated,
Month: January 2024
Share: Christine Lagarde will participate in the World Economic Forum, in Davos. ECB President’s speech will be scrutinized for fresh insights on the economy and policy. European Central Bank held rates for the second straight meeting in December. European Central Bank (ECB) President Christine Lagarde speaks in her first of three stage appearances at the
Gold prices slipped on Wednesday in early trade amid gains in the dollar index. Taking cues from the international market, MCX February gold futures were trading lackluster. Gold futures were trading flat at around Rs 62,000 per 10 grams, though the bias was slightly negative. Meanwhile, the March Silver futures were trading at Rs 71,865
The dollar has moved higher after the US retail sales data came in stronger than expectations that has yields moving higher with the 2-year now up 10.7 basis points the 10-year is up 3.2 basis points. For the EURUSD the poster has remained below a swing year between 1.0878 and 1.0894, but it has support
The stocks are opening lower after better retail sales have pushed up yields, especially in the shorter end. The market seems to like lower yields vs. better growth. Fed’s Waller yesterday poured some cold water on rates moving lower sooner rather than later. The market is still focused on the idea that the Fed has
Sterling emerged as the star performer in today’s market, largely driven by surprising inflation data from the UK. CPI inflation in December showed an unexpected acceleration, with core CPI remaining at elevated level. This development led to a swift change in the market’s perspective concerning BoE’s policy, reducing the anticipated number rate cuts this year
Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday. Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online nonstore businesses. The results were better than the
Share: EUR/USD attempts a modest recovery from over a one-month low touched on Tuesday. Mixed signals from ECB policymakers might hold back bulls from placing aggressive bets. Diminishing odds for an early Fed rate cut underpin the USD and should cap the upside. The EUR/USD pair ticks higher during the Asian session on Wednesday and
The GBPUSD is back down testing the low for the day in what has been a big move lower for the pair today. The price of the GBPUSD is down -0.77% currently. In the move lower today, the price finally broke away from an up and down area and away from the 100 and 200
Data coming up on Wednesday, 17 January 2024 from the US includes December retail sales. Here’s a look at the range of expectations (the ‘why do this?’ follows just below) ps. It’s a big day from the Federal Reserve also, with NY President Willaims (and others) speaking, and the release of the Beige Book. I’ll
Oil prices fell on Wednesday as a stronger U.S. dollar limited demand for greenback-denominated crude, though the rising risks of supply disruptions amid the intensifying conflict in the Red Sea curbed the losses. Global benchmark Brent crude futures fell 36 cents, or 0.5%, to $77.93 a barrel by 0215 GMT. U.S. West Texas Intermediate crude
Dollar rises broadly on risk-off sentiment today, as as Hong Kong stocks led the region lower. The greenback’s strength comes despite growing calls for Fed to initiate policy loosening earlier. Notably, Goldman Sachs has joined this chorus, predicting an initial rate cut as early as March and a total of five cuts throughout the year.
Javier Ghersi | Moment | Getty Images Corporate debt defaults soared last year and could be a problem again in 2024 as cash-strapped companies deal with the burden of high interest rates, S&P Global Ratings reported Tuesday. The number of companies that failed to make required payments on their debt totaled 153 for 2023, up
In this article GS GSBD Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, Chairman and CEO, Goldman Sachs, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California. Michael Kovac | Getty Images Entertainment | Getty Images Goldman Sachs is
Share: AUD/USD dips pressured by rising US Treasury yields and a robust 0.60% gain in the US Dollar Index (DXY). Deteriorating risk appetite and expectations of less aggressive Fed rate cuts contribute to the AUD’s weakness; Fed Governor Waller’s speech highly anticipated. Australian consumer sentiment wanes amid higher mortgage rates and living costs, despite potential
In the morning kickstart video, I take a look at the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD – and outline the technicals that are driving the pair. For each, they are making a break today. So understanding the new dynamics is important for your trading. EURUSD: The EURUSD was trading in
The Empire Fed fell to -43.7 in January from -14.5 previously. It’s the earliest manufacturing data point of the month and at first glace it suggests a sharp contraction in activity. New orders plunged to -49.4 from -11.3. The dollar fell around 20 pips across the board but there are indications this survey is an
Gold prices slipped on Tuesday in early trade amid gains in the dollar index and higher bond yields even as the Street awaits comments from a host of US Federal Reserve’s speakers later this week to get more clarity on the Central Bank’s rate trajectory. Taking cues from the international market, MCX February gold futures
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