At least three Federal Reserve officials said Monday they are ready to pull back on stimulus even though they don’t see a threat from inflation. Speaking at separate engagements, Fed Governor Lael Brainard and regional presidents John Williams of New York and Charles Evans of Chicago all expressed comfort with the first phase of policy
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According to FX Strategists at UOB Group, USD/CNH is still seen trading between 6.4359 and 6.4880 for the time being. Key Quotes 24-hour view: “USD traded between 6.4540 and 6.4691 yesterday, narrower than our expected consolidation range of 6.4520/6.4700. The quiet price actions offer no fresh clues and further consolidation appears likely. Expected range for
European gas price has kept breaking new records over the past months. Both higher-than-usual demand and supply shortage have led to the price strength. As winter is approaching, we expect price to remain at elevated levels in the months to come. The front-month Dutch TTF gas contract has remained firm after breaking above EUR 70/MWh.
Rob Kaplan, the president and chief executive officer of the Federal Reserve Bank of Dallas will step down from his position after more than six years. In a Sept. 27 announcement, the Dallas Fed said Kaplan, its 13th president and CEO, would be retiring beginning Oct. 8. The 64-year-old cited recent attention to his “financial
NASDAQ falls -0.52%. Dow posts a four day win streak The major indices are ending the day with mixed results. The Dow is higher on the day and has posted a four day win streak. The the NASDAQ index is down for the second consecutive day. The S&P index snapped its three day win streak. The final numbers are showing:
Forex news for North American trading on September 27, 2021 There were a number of Fed officials speaking today and two that announced their retirement. The ones that spoke (Evans, Williams, Brianard) spoke specifically to rate changes not being anytime soon. Evans said that he sees one rate hike in 2023, Brainard said that no liftoff signal should be taken from
NEW DELHI: If you thought equities are a breakout story this year, then you may have missed the real money-making opportunity. There is one commodity that has come out of stupor and shocked everyone with the ferocity of its rally. That counter is natural gas. Natural gas spot prices have more than doubled since early
Dallas Federal Reserve President Robert Kaplan became the second regional central bank leader to resign Monday, saying he was stepping down early following a recent controversy over stock market trades he made. Kaplan’s early retirement follows an announcement earlier in the day from Boston Fed President Eric Rosengren, who said he will leave as well
AUD/USD clings to the 0.7280-90 range despite broad-US dollar strength. China’s Evergrande worries ease, lifting the market sentiment. Fed’s Williams and Brainard supporting bond-tapering. During the European session, the AUD/USD dipped to 0.7248, but the pair advanced as American traders got to their desks. The AUD/USD is up 0.40% during the day, trading at 0.7290
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Canadian Dollar leads commodity currencies higher in Asian session, with help from extended rally in oil price. Overall sentiment is mixed though and Yen is trying to pare back some of last week’s losses. Some weakness in seen in both European majors and Dollar but movements in respective pairs are limited. Euro is also stuck
A new stablecoin is arriving on the Cardano blockchain to provide a tool for decentralized finance (DeFi) operations and avoid transaction fees. Cardano’s payment gateway provider Coti will be the official issuer of Djed, a new DeFi-focused stablecoin for the Cardano network, Cardano founder Charles Hoskinson and Coti CEO Shahaf Bar-Geffen announced Sept. 26 at
10-year Treasury yields up 1.6 bps to 1.475%, the highest since 30 June There was a light reprieve early on for bond buyers to start the day but sellers are back in control now as yields push higher to its highest in almost three months. In turn, that is putting upwards pressure on yen pairs
Latest data released by the SNB – 27 September 2021 Domestic sight deposits CHF 636.0 bn vs CHF 636.0 bn prior Prior week’s release can be found here. Little change in terms of overall sight deposits and that once again reaffirms that the SNB is still taking their foot off the pedal for the time
NEW DELHI: Gold and silver futures rose on Monday as persistent concerns over the fate of debt-laden property giant China Evergrande and its broader impact bolstered the precious metal’s safe-haven appeal. Evergrande missed a payment on offshore bonds last week, with further payment due this week. This sent shivers down the spine of equity investors
EUR/SEK has moved lower but continues to trade in the recent 10.15-10.25 range. With the peak in the global industrial cycle as well as fading support from equities, economists at Danske Bank see headwinds for the export-exposed and pro-cyclical Swedish currency. They expect a weakening of SEK in the medium-term and forecast EUR/SEK at 10.50
The Fed turned more hawkish in September, with the first rate hike pushed forward to 2022. Fed Chair Jerome Powell indicated that QE tapering will come “soon”. The staff downgraded the GDP growth forecast for this year, but revised higher that for 2022 and 2023. Inflation projections were revised higher all the way through to