The Bank of Japan is anticipated to maintain its policy rate unchanged. Investors’ focus should remain on the bank’s rate path for the next few months. BoJ Governor Kazuo Ueda is seen sticking to the recent hawkish narrative. The Bank of Japan (BoJ) is expected to keep its short-term interest rate target between 0.15% and
Month: September 2024
Sterling surged notably today and reached its highest level against Dollar since March 2022. The move followed BoE’s decision to hold interest rates steady as expected. The surprise came from Deputy Governor Dave Ramsden, who chose not to vote for a rate cut. The overall tone from BoE suggests that while further rate cuts are
The GBPUSD experienced a volatile session today, similar to many other pairs. Following the Bank of England’s decision to keep interest rates unchanged, the price surged to a high of 1.33132. However, the momentum reversed after the US weekly jobless claims report came in better than expected, prompting a rotation lower. The price tested a
Markets: WTI up $1.10 to $72.01 S&P 500 up 1.7%, Nasdaq up 2.6% Gold up $30 to $2589 US 10-year yields up 3.2 bps to 3.72% AUD leads, JPY lags The Fed dust settled and it was a big change from 24 hours ago, when there was some angst about the somewhat surprising 50 basis
Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy. Brent crude futures for November fell 34 cents, or 0.46%, to $73.31 a barrel by 0015 GMT, while WTI crude futures for October declined to $70.49 a barrel, down 42 cents or 0.59%.
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois. Scott Olsen | Getty Images Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. “While
Natural Gas undergoes technical rejection and sees rally fading. European Gas reserves are 93% full while the Russian transit deal ends. The US Dollar Index eases after the Fed delivers a 50 basis point rate cut with more to come. Natural Gas futures trade softer for a third day in a row on Thursday after
Market reactions were indecisive after Fed’s much-anticipated rate cut overnight. The initial optimism that sparked a rally in US stocks quickly fizzled out, with major indexes closing in the red, while Treasury yields staged a recovery. The reaction was somewhat anticlimactic but understandable given the unusually high level of uncertainty surrounding this FOMC meeting. In
Fundamental Overview Yesterday, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of an “insurance” cut with the dot plot showing two more 25 bps
We’re seeing fresh highs now for the euro, pound, and the commodity currencies against the dollar. EUR/USD is up 0.5% to 1.1170 with GBP/USD also up 0.5% to 1.3280 currently. AUD/USD in particular is seeing a strong jump to its highest levels for the year, up 1% to 0.6835. The pair had struggled to clear
Gold October futures contracts as well as silver December futures contracts at MCX opened flat today after the US Fed cut the interest rates by 50 bps. The former stood at Rs 72,916 per 10 gram, which is down by 0.19% or Rs 139 while the latter stood at Rs 88,375/kg, up by merely 0.09%
Ray Dalio, Bridgewater Associates co-chairman and co-chief investment officer, speaks during the Skybridge Capital SALT New York 2021 conference. Brendan McDermid | Reuters As the U.S. Federal Reserve implemented its first interest rate cut since the early Covid pandemic, billionaire investor Ray Dalio flagged that the U.S. economy still faces an “enormous amount of debt.”
The Australian Unemployment Rate is foreseen unchanged at 4.2% in August. Employment Change is expected at 25K, more than halving the 58.2K posted in July. AUD/USD stands below 0.6800, with a bullish bias in the Federal Reserve’s aftermath. The Australian Bureau of Statistics (ABS) will release the monthly employment report at 1:30 GMT on Thursday.
Sterling strengthened across the board today after UK CPI data revealed reacceleration in core inflation. The uptick in core CPI provides additional support for hawkish members of the BoE’s MPC, bolstering the case for a rate hold at tomorrow’s decision. A rate cut is still expected in November, when new economic projections will be available.
The EURUSD moved higher (lower USD) after the Fed cut rates by 50 bps. The price extended higher and toward swing highs for the year. The 2nd to last swing high target was at 1.11897, and that level was reached. What wasn’t reached was the double top at 1.12009 from August 23 and August 26..
The jobs market report for August is due today from the Australian Bureau of Statistics: 11.30 am Sydney time 0130 GMT 2130 US Eastern time As you’ll see in the screenshot below, the previous month’s report, July, showed another huge gain in jobs, carrying on the trend of strong employment growth over the past year.
U.S. Federal Reserve cut interest rates by 50 basis points, sending the dollar lower. Spot gold was up 0.9% at $2,592.39 per ounce as of 02:17 p.m. ET (1817 GMT). U.S. gold futures settled 0.2% higher at $2,598.60. “Gold surges to all-time highs but bond yields have also jumped higher. A 50 bps is good
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