The Federal Open Market Committee released its minutes from its September 19-20 meeting, revealing that officials saw risks to achieving goals as more two-sided. Most members continued to see upside risks to inflation. The Fed decided to maintain the federal funds rate within the range of 5.25% to 5.5%, with …
Read More »FOMC minutes: Participants judged that risks had become more two-sided
The FOMC minutes, released a few minutes ago, indicated that many policymakers and participants saw downside risks to economic activity and upside risks to the unemployment rate.Vast majority of participants just future path of economy as highly uncertain. More evidence needed to be confident price pressures ebbing. Several participants commented …
Read More »US Dollar trades flat after hot PPI figures ahead of FOMC minutes
The US dollar is still having trouble gaining traction. In September, US PPI increased by 2.2% YoY, exceeding expectations. Later in the afternoon, the FOMC will make public its minutes from its meeting in September.Despite the tension between Israel and Hamas, markets are still wary. Following the publication of trending …
Read More »USD/JPY gains momentum ahead of FOMC minutes
USD/JPY gained 0.20% on the day, rising above 149.00. The US PPI from September accelerated, beating expectations. The trajectory of the pair is determined by the dovish stance of the Bank of Japan (BoJ). Later in the session, markets will monitor the Federal Open Market Committee (FOMC) minutes from the …
Read More »Fed’s Waller: Markets are tightening and will do some of the work for us
Fed Governor Christopher Waller noted on Wednesday that inflation data in the last three months has been “very good,” per Reuters. “If current trends continue, inflation will basically be back to the target,” Waller added.The US Dollar Index stays under modest bearish pressure following these comments and was last seen …
Read More »Market Drivers – US Session, October 10
The US dollar suffered on Tuesday as Wall Street concluded with gains. The price of crude oil slightly declined while trading in narrow bands. Prices for commodities fluctuated, holding onto recent gains. The Middle East scenario is still a source of uncertainty.For the first time since August, the EUR/USD price …
Read More »Gold comfortably higher ahead of inflation data
Tuesday’s closing for gold is comfortably higher than Friday’s close, and even more gains may be in store for the precious metal so long as geopolitical risks are high and the dollar continues to see additional selling pressure. Risk-on mood has had an impact on gold prices, but the gap …
Read More »Oil Prices Fluctuate on Continued Middle Eastern Turmoil
Fears and concerns that the unrest in the Middle East could spread to the larger Gulf region, which produces oil and endanger world output, have driven up oil prices before retreating on Tuesday. The price of the worldwide standard for crude oil, Brent, increased by about 5% on Monday during …
Read More »Foreign corporate investment in China seen collapsing
The Chinese Renminbi may continue to weaken as foreign direct investment in China declines as a result of animosity from the Chinese government and a deteriorating domestic economy, according to several economists. From $400 billion in yearly direct investment in 2020 to $20 billion in 2023, this decline reflects a …
Read More »Goldman Sachs: Traders expected to buy S&P 500 under whatever scenario
US stocks are rising. Bonds are rising as markets reopen following a holiday, in part because investors are seeking safe haven after the escalation of Middle Eastern tensions. However, given that more speakers are scheduled for Tuesday, two Fed officials on Monday discouraged interest rate increases.Investors, particularly oil speculators, will …
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