On Wednesday, the Chinese manufacturing sector expanded at its quickest rate in a decade, which led to a decline in the US dollar and a rise in the Chinese yuan. The euro increased after German inflation statistics jumped last month, which increased expectations for rate hikes in the euro zone.The …

Despite rising US Treasury bond yields, the USD/JPY pair was unable to gain momentum. According to December’s 2022 dot-plots, the Fed policymakers who made the Wednesday poking are still anticipating rates at roughly 5.25 percent.Although input costs have increased, manufacturing activity in the US is still at a low level, …

With the ISM Manufacturing PMI creeping up to 47.7 from 47.4, the economic activity in the US manufacturing sector continued to shrink in February, though at a slower rate than it did in January. This figure was lower than the market forecast of 48.The report’s supporting information showed that the …

Bostic: Fed’s policy rate needs to remain at 5.00%-5.25% range well into 2024Atlanta Fed President Raphael Bostic stated in an essay published on Wednesday that he still holds the opinion that the policy rate needs to increase to the 5.00%-5.25% range and stay there far into 2024.Bostic continued, “A narrative …

Following the US ISM Manufacturing PMI, the GBP/USD pair moved into negative territory. Despite the market’s optimism on the favourable economic data from China, the pair is seen falling. Moreover, a BoE official expressed more hawkish views than anticipated, which helped boost the GBP/USD. At the time of writing, the …

The US dollar managed to recover some of its early losses, but the day still ended unevenly. In spite of month-end flows, correlations were off, but risk aversion was unaffected. As Wall Street ended neutral, the majority of European indexes closed the day in the red.Key DevelopmentsThe focus was on …

The price of the precious metal has eventually stabilized with the US session’s end. Gold was earlier up 0.5% near $1,826.67 after travelling from a low of $1,804 and $1,831 on the day. It is trading at 1826.10 at the time of writing after weak US economic data was widespread …

Despite mounting rumours that the Fed will keep tightening monetary conditions, WTI crude oil rose 1.90% on Tuesday in response to new hopes for oil demand as a result of China’s reopening. WTI has therefore reached a low of $75.60 and is currently trading at $77.11, up from its opening …

In its oil and mining sectors, Kazakhstan has long welcomed international direct investment. By 2020, $161 billion will have been invested there, with $30 billion coming from the United States. Also, it received a large investment of $27.6 billion from China (via the Belt and Road Initiative), with half of …

The S&P 500 retreated and the main US indexes are expected to record monthly losses on Tuesday as Treasury yields surged while investors are focused on bets concerning upcoming interest rate decision which is seen high for longer. Bank of America Global Research warned the Fed could even hike interest …