Inflation in August declined to its lowest level since February 2021, according to a Labor Department report Wednesday that also showed a key measure higher than expected, setting the stage for an expected quarter percentage point rate cut from the Federal Reserve. The consumer price index, a broad measure of goods and services costs across
The US Dollar (USD) is likely to trade with a downward bias; the probability of it breaking the significant support at 140.80 is not high, UOB Group FX analysts Quek Ser Leang and Peter Chia note. Probability of it breaking below 140.80 is not high 24-HOUR VIEW: “We expected USD to trade in a range
Dollar softened across the board in today’s Asian session, dragged down by extended in US Treasury yields. Investors appear to be setting aside the first presidential debate between Kamala Harris and Donald Trump, focusing instead on the highly anticipated US CPI report, which might hopefully provide clearer direction on Fed’s upcoming interest rate cut. Market
Fundamental Overview The Yen is having another good week as the USDJPY pair dropped to new lows as Treasury yields continue to fall. We had two possible catalysts yesterday. The first one was the much weaker than expected US NFIB Index which dropped to a 3 month low. There wasn’t an immediate reaction in the
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Oil prices climbed on Wednesday, paring some of the previous day’s losses, as concerns about Hurricane Francine disrupting output in the U.S., the world’s biggest producer, outweighed worries about weak global demand. Brent crude futures climbed 34 cents, or 0.5%, to $69.53 a barrel by 0430 GMT while U.S. crude futures were at $66.10 a
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, Chairman and Chief Executive officer (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York in Manhattan in New York City, U.S., April 23, 2024. Mike Segar | Reuters JPMorgan Chase CEO Jamie Dimon said Tuesday he wouldn’t
Gold prices rose in Malaysia on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 351.38 Malaysian Ringgits (MYR) per gram, up compared with the MYR 349.93 it cost on Monday. The price for Gold increased to MYR 4,098.37 per tola from MYR 4,081.51 per tola a day earlier. Unit measure
Trading in the forex markets remained relatively subdued today, with limited momentum across major pairs. Sterling saw a brief uptick following robust UK employment data, but the rally quickly lost steam. The data did little to alter expectations that BoE will likely keep rates unchanged next week and wait until November to reassess its stance.
The US yields are trading at new session lows. The two-year is trading at 3.598%. That’s the lowest level going back to March 2023. The 10 year yield is an 3.642%. That’s its lowest level going back to June 2023. The low in yields has the USDJPY also extending back toward session lows for the
The Canadian dollar is the weakest performer today and if you read between the lines in Tiff Macklem’s comments, the Bank of Canada is trying to put the possibility of a 50 basis point cut in October on the table, particularly if upcoming GDP reports highlight ongoing weakness. A big reason that they need to
Gold prices rallied by Rs 600 to Rs 74,100 per 10 grams in the national capital on Tuesday on the back of fresh buying from jewellers. In the previous session, the precious metal of 99.9 per cent purity had closed at Rs 73,500 per 10 grams on Monday. Silver prices, too, jumped Rs 700 to
People shop at a store in Brooklyn on August 14, 2024 in New York City. Spencer Platt | Getty Images The Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely-expected interest rate cut soon. On Wednesday, the Labor Department’s Bureau of Labor Statistics will
In this article GS Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, CEO of Goldman Sachs, during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York on Aug. 6, 2024. Jeenah Moon | Bloomberg | Getty Images Goldman Sachs will post a roughly $400 million pretax hit to third-quarter
The Dollar Index (DXY) consolidates near the top end of its three-week range (100.5 and 101.9), DBS FX strategist Philip Wee notes. DXY is near the top of a three-week range “DXY may consolidate following a two-day rebound near the top end of its three-week range (100.5 and 101.9).” “The US Treasury 2Y yield rose by 2.3
The forex markets have remained largely subdued in today’s Asian session, with most major currency pairs moving within a narrow range from yesterday. Investor sentiment stabilized overnight, with major US stock indexes closing higher. However, caution is still the prevailing mood as traders await tomorrow’s US CPI data, which will be pivotal in shaping Fed’s
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