Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September. The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate
admin
In this article FLTR-GB DKNG Follow your favorite stocksCREATE FREE ACCOUNT A sign hangs on the wall in the reception area at Fanduel Inc.’s offices in Edinburgh, U.K., on Tuesday, Feb. 7, 2017. Chris Ratcliffe | Bloomberg | Getty Images Flutter reported phenomenal second-quarter earnings this week, wowing investors and sending shares up about 8%
EUR/GBP rose to 0.8580, overcoming a key resistance level. Softer UK inflation data suppressed Pound Sterling during Wednesday’s session. Markets are strongly considering a cut in September by the BoE. Wednesday saw the EUR/GBP pair rise towards 0.8580, with softer-than-expected inflation data from the UK weighing on Pound Sterling. This contrasts Tuesday’s movements, when the strength
The market’s initial reaction to US CPI data has been relatively subdued. While both headline and core CPI readings slowed in July, they remain elevated. This ongoing disinflation is a positive sign for the Fed, but the pace is not rapid enough to justify a larger rate cut in September. As a result, US stock
Fundamental Overview Yesterday, the US PPI report missed expectations by a big margin triggering a selloff in the US Dollar as the market started to position into a potentially soft US CPI release today. That led to a key breakout in the NZDUSD pair which didn’t last as the RBNZ tonight cut rates by 25
EURUSD daily The euro is now back to flat on the year. It opened at 1.1036, fell as low as 1.0601 on April 15 and has now climbed all the way back. There is some resistance at the December high of 1.1139 followed by last year’s high at 1.1276. The latest leg of EUR/USD is
Gold prices fell in a volatile trade on Wednesday after data showed U.S. consumer prices rebounded as expected in July, pouring water on expectations for a sizeable rate cut from the Federal Reserve next month. Spot gold fell 0.4% to $2,455.91 per ounce by 1338 GMT. U.S. gold futures slipped 0.5% to $2,494.50. “A September
A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. The producer price index, which measures selling prices that producers get for goods and services, increased 0.1% on the month, the Labor Department’s Bureau of Labor Statistics reported Tuesday. Excluding
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images ZURICH, Switzerland ꟷ UBS CEO Sergio Ermotti said Wednesday that market volatility could intensify in the second half of the year, but he does not believe the U.S. is heading into a recession. Global equities saw sharp sell-offs last week
The Japanese Yen gains ground due to safe-haven flows amid Middle East tensions. Japan’s parliament will hold a special session to discuss the BoJ interest rate hike last month. Downbeat US PPI data have boosted the odds for a larger Fed rate cut in September. The Japanese Yen (JPY) extends its gains against the US
Sterling is making notable gains after UK employment data revealed an unexpected drop in the unemployment rate for June. Additionally, July’s figures showed continued growth in payrolled employment and a rebound in wage growth. This robust set of data strengthens the position of the hawks within BoE’s MPC, who incline to maintain a cautious stance
The major US indices got a boost from lower-than-expected PPI data. Tomorrow the CPI will be released. The PPI data does not necessarily translate into the CPI, but there is some crossover to the PCE data that will be released later this month. Tomorrow, CPI is expected to show a 0.2% gain after a -0.1%
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices climbed on Wednesday on estimates about shrinking U.S. crude and gasoline inventories as the market watched for a possible widening of the Middle Eastern war, which could curtail global oil supplies. Brent crude futures rose 30 cents to $80.99 a barrel by 0009 GMT. U.S. West Texas Intermediate crude increased by 38 cents
Product prices as seen at Walmart. Courtesy: Walmart The news Tuesday was good for inflation, and investors hope it will get even better Wednesday when the Labor Department releases the July consumer price index report. With the score being one down, one to go on confirming that the early-year jump in prices either was a
In this article HD Follow your favorite stocksCREATE FREE ACCOUNT The Home Depot logo is seen in Florida Keys, United States on May 7, 2024. Jakub Porzycki | Nurphoto | Getty Images Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year
The Mexican Peso treaded water on Tuesday following Monday’s 1.2% backslide. Banxico recently delivered a rate cut despite an uptick in headline inflation figures. Mexico’s central bank expects inflation bump to smooth out. The Mexican Peso (MXN) held close to flat on Tuesday, paddling around 19.00 as Peso traders find their balance following a 1.2%
Dollar weakens broadly in early US session after July’s PPI came in lower than expected, signaling easing in inflationary pressures. This development was well-received by investors, with stock futures ticking up slightly and 10-year Treasury yield dipping in response. While the softer PPI readings provide some relief to those hoping for monetary easing from Fed,