Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month. “It is appropriate in my view to be moving a little more quickly” to raise interest rates, Powell said while part of an International Monetary Fund panel.
The US Dollar Index (DXY), hits a fresh 25-month high on Fed official’s comments. Fed speakers in the week support 50-bps rate hikes at the May 4-5 meeting. US Dollar Index Price Forecast (DXY): Bulls target January’s 2017 highs near 103.82. The US Dollar Index, a measurement of the greenback’s value against a basket of
USDCAD races to the upside The USDCAD today moved above its 200 hour MA (green line at 1.25904) in the Asian session, and in the process continued the trend move higher that was started yesterday. The break higher above the 200 hour moving average (green line) saw some consolidation, but the price based against that
I’m not sure if this is the peak of earnings season as measured by the number of companies reporting, but it’s certainly the peak of big names reporting. Monday morning starts off with Coca-Cola and that afternoon we get economic bellwether Whirlpool. The tech heavyweights go on Tuesday, Wednesday and Thursday, including: Microsoft Alphabet (Google)
Oil prices fell on Friday, heading for a drop of nearly 4% for the week, burdened by the prospect of rate hikes, weaker global growth and COVID-19 lockdowns in China hurting demand, even as the European Union weighed a ban on Russian oil. Brent crude futures slid 81 cents, or 0.8%, to $107.52 a barrel
Speculations on aggressive Fed tightening intensified sharply last week after a chorus of hawkish comments from policy markets. Markets are indeed pricing in near 70% chance of federal funds rate at 1.50-1.75% by the end of first half, i.e., 125bps above current level. Stocks tumbled sharply towards the end, with DOW suffering the worst day
Cleveland Federal Reserve President Loretta Mester said Friday she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. That means a strong likelihood of backing a 50 basis point rate hike at the next Fed meeting and perhaps a few more after, but
In this article JNJ Syringes and a box of Johnson & Johnson vaccine. Paul Hennessy | SOPA Images | LightRocket | Getty Images Johnson & Johnson on Tuesday lowered its full-year sales and earnings outlook, and stopped providing Covid-19 vaccine sales guidance due to a global supply surplus and demand uncertainty. J&J is now forecasting
The S&P 500, the Dow Jones, and the Nasdaq Composite recorded losses in a risk-off market mood. Fed speakers in the week support 50-bps rate hikes at the May 4-5 meeting. US Treasuries and the greenback finished the week higher amidst hawkish Fed comments. US equities finished the week with substantial losses, reflecting a gloomy
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Things required to use a Bitcoin ATM There are a few things you’ll need to prepare before you can get started on using a Bitcoin ATM: A crypto wallet The first thing you’ll need before using a Bitcoin ATM is a crypto wallet. More specifically, you’ll need a Bitcoin wallet. A crypto wallet is an
USD is now the strongest of the major currencies The USD is making a break for it to the upside. In the current hour, the greenback is trading to new highs for the day versus all the major currencies with the exception of the JPY. It is now the strongest of the major currencies. The
S&P 500 -2.8% down 136 points to 4254 Nasdaq-2.6% DJIA -2.8% Russell 2000 -2.5% Toronto TSX -1.9% On the week: S&P 500 -2.8% Nasdaq -3.8% Russell 2000 -3.1% This was the third rough week in a row for stocks and the Nasdaq is now within striking distance of an 11-month low. Unless you owned Kimberly-Clark
International gold started the week on a positive note and closed near key $2000/oz level but lost momentum and is now set for its first negative weekly close in three weeks. Gold has corrected over 3 per cent from the recent highs and is down about 1.5 per cent on the week. Gold came under
In this article PG Bottles of Tide detergent, a Procter & Gamble product, are displayed for sale in a pharmacy on July 30, 2020 in Los Angeles, California. Mario Tama | Getty Images Procter & Gamble is expected to report its fiscal third-quarter earnings before the bell. Here’s what Wall Street analysts are expecting, based
USD/CAD rallied roughly 140 pips on Friday to hit its highest level in over one month above the 1.2700 mark. That marks the largest one-day percentage gain since November. The pair rallied as a function of risk-off flows, with recent BoC hawkishness and strong data failing to support CAD. USD/CAD rallied roughly 140 pips on
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The strongest to the weakest of the major currencies The JPY is the strongest and the GBP is the weakest as the NA session begins. The USD is just below the JPY as the strongest and the NZD and AUD are trending lower as well. In the Asian session, Japanese Finance Minister Suzuki escalated his