As Moscow raised military spending and Western sanctions put pressure on its energy exports, the value of the Russian currency dropped to its lowest level since the early days of the Ukraine conflict. As a result, the Russian central bank announced that it will hold an emergency meeting to review …
Read More »Goldman expects Fed to start rate cuts in Q2 next year
The Federal Open Market Committee (FOMC), according to Goldman Sachs, may begin reducing the funds rate in the second quarter of 2024. This estimate assumes that core Personal Consumption Expenditures (PCE) inflation will have fallen below 3% on a yearly basis and under 2.5% on a monthly basis. Even if …
Read More »Financial Markets’ Weekly Recap, August 7-11
After a quiet trading week’s beginning on Monday, storms came one after another though Tuesday was ted to be quiet in terms of economic data; the first storm impacted commodities, because in response to data that suggested a potential global economic slowdown, risk appetite deteriorated on Tuesday, and the EUR/USD …
Read More »Gold closes with weekly losses on China’s slowdown-linked fears
Gold price registered losses for the third straight week, with concerns over China’s economic stability continuing to weigh on the precious metal’s price. Gold failed to build on last Friday’s gains and started the week on a bearish note. Gold is trading at $1912.90 per ounce at the time of …
Read More »EUR/USD pressured following solid US PPI data
The EUR/USD pair encountered pressures and experienced losses during the US trading session, reaching 1.0975 from a daily high of 1.1000. US Department of Labour report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM.The University of …
Read More »Dollar is heading for gains for the fourth week
The dollar was heading for a fourth week of gains on Friday after data showed that inflation did not rise as strongly in the United States as expected in July, which helped boost investor expectations that the Federal Reserve will likely end the current interest rate hike cycle. The rise …
Read More »GBP/USD fluctuates amid US CPI data as traders shift focus to UK GDP
GBP/USD reached a weekly high of 1.2818, but dropped below 1.2700. US CPI remains above 3%, Core CPI remains 4%. UK GDP figures for Q2 release, US inflation data, reacted upwards.US Treasury bond yields soared, leading to a comeback in the US Dollar (USD) at 1.2687. The GBP/USD pair reached …
Read More »Moody’s warning revisited as a wake-up call for optimistic banking investors
The decline in US bank stocks this week astonished options traders and drove them to wonder whether bank investors have grown too accustomed to the crisis-hit industry. Several US regional lenders had their credit ratings reduced by Moody’s, and some of the world’s largest banks were under scrutiny for a …
Read More »GBP/USD retreats ahead of US inflation, British GDP
With important UK GDP statistics due on Friday, the Pound Sterling experiences little trading and continues to move below the 50-day EMA around 1.2724. The Bank of England’s attitude, meantime, is under pressure as market chances point to a rate hike in September at 85%, with the Bank Rate possibly …
Read More »China is entering a period of price deflation
China’s consumer sector entered a period of deflation and producer prices continued to decline in July as the world’s second-largest economy struggled to revive demand and pressure mounted on Beijing to take more direct stimulus measures. Concern is mounting that China is about to enter a period of sharp slowdown …
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