Australian Dollar weakens broadly in Asian session, as Australian employment data and shifting global risk sentiment take center stage. The mixed nature of the latest Australian jobs report is causing a rethink among investors regarding RBA’s next steps. Despite robust increase in overall employment numbers, a nuanced look reveals cracks in the job market’s strength.
Wholesale prices in October posted their biggest decline in 3½ years, providing another indication that the worst of the inflation surge may have passed. The producer price index, which measures final-demand costs for businesses, declined 0.5% for the month, against expectations for a 0.1% increase from the Dow Jones consensus, the Labor Department reported Wednesday.
In this article CSCO Follow your favorite stocksCREATE FREE ACCOUNT Chuck Robbins, CEO & Chairman of Cisco, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 18th, 2023. Adam Galica | CNBC Cisco shares were down as much as 13% in extended trading on Wednesday after the networking hardware maker issued a
Share: The DXY index first declined to 104.00 and then recovered to 104.40. The headline and core PPI cooled down in October, while US Retail Sales declined but were lower than expected. Investors seem to worry that strong economic activity data might weigh more than cooling inflation in the Fed’s eyes. The US will report
The GBPUSD is back below its 200 day moving average The GBPUSD ran higher yesterday, and in the process extended toward its 100-day moving average near 1.2512. The high price got within 7 pips of that level at 1.2505 before rotating back to the downside. In trading today, lower-than-expected CPI data out of the UK
The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs: Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points. S&P index rose 7.18 points or 0.16% at 4502.89. At session highs, the index was
Oil prices dipped on Wednesday due to expectations of an increase in U.S. crude stocks amid record high output in the world’s biggest producer and despite positive demand signs from top consumer China. Brent futures were down 69 cents to $81.78 a barrel at 1346 GMT, while U.S. West Texas Intermediate (WTI) crude was down
Sterling emerged as the standout underperformer today, reacting notably to the latest CPI data from the UK. This data indicated a more rapid deceleration in both headline and core inflation rates than many had predicted. Such a shift in inflation dynamics is feeding into growing belief among market participants that BoE has reached the pinnacle
Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images Markets seem to have taken this week’s positive economic data as the all-clear signal for the Federal Reserve to start cutting interest rates aggressively next year.
In this article TJX Follow your favorite stocksCREATE FREE ACCOUNT A Marshalls store in New York Scott Mlyn | CNBC TJX Companies on Wednesday raised its full-year guidance and said it expects a strong holiday season after inflation-weary consumers drove another quarter of sales gains. The off-price giant, which runs T.J. Maxx, Marshall’s and HomeGoods,
Investors pursuing legal action against Robinhood over trading restrictions imposed in early 2021 have faced another setback in court after the Florida Southern District Court rejected the request for class certification by the plaintiffs on Nov. 13, 2023. Chief Judge Cecilia M. Altonaga said that after thoroughly considering the written submissions, record, and relevant law,
Share: The Dollar plummeted after a softer-than-expected US CPI reading. Economists at ING analyze USD outlook. Dollar slump looks overdone We still think a turn in activity data – more than the disinflation story – is needed to take the Dollar sustainably lower, and the move appears overdone also from a short-term valuation perspective. Today,
CPI data for the month of October came in tamer than expectations with the headline number rising by 0.0% month on month (versus expectations of 0.1%). The core measure rose by 0.2% (versus expectations of 0.3%). Although the year-on-year levels are still above the 2% targets at 3.2% and 4.0% respectively they are well off
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Gold extended gains on Wednesday buoyed by a weaker dollar index (DXY) which slipped below the 105 mark after US inflation data showed a slowing trend bolstering views that the US Federal Reserve is likely done with its rate-hike campaign. The December gold futures were trading at Rs 60,195 per 10 gram, down by Rs
Dollar remains subdued in the aftermath of its significant selloff triggered by CPI release overnight. Market sentiment has swiftly shifted, with the majority now almost ruling out the possibility of further rate hikes by Fed. This shift indicates a growing consensus that current federal funds rate of 5.25-5.50% marks the peak of this cycle. Moreover,
U.S. Federal Reserve Chairman Jerome Powell takes questions from reporters during a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. Evelyn Hockstein | Reuters UBS expects the U.S. Federal Reserve to cut interest rates by as much as
Crypto exchange and wallet provider Blockchain.com closed a $110 million Series E financing round, an investment that more than halves its previous 2022 valuation of $14 billion. In a Nov. 14 blog post, Blockchain.com said the closing of its Series E round was led by the United Kingdom-based venture capital firm Kingsway Capital. It also