Market Update

“More UK businesses than ever before are worried about inflation, and a record number are planning to increase their own prices,” said Bloomberg while conveying the latest British Chambers of Commerce (BCC) details on early Thursday morning in Asia.The news also quotes Suren Thiru, Head of Economics at the BCC …

The IHS Markit Australia Composite PMI was unrevised at 54.9 in December of 2021, pointing to a slower rate of private sector output growth, however high by historical standards.Foreign demand for Australian manufactured goods improved while services exports stayed subdued amid border restrictions and COVID-19 Omicron variant fears.Both manufacturing and …

“The Bank of Japan’s government debt holdings have fallen for the first time in 13 years as the central bank quietly adjusts its massive bond-buying program in the face of looming financial risk,” said Nikkei while conveying details of the Bank of Japan’s stealth tapering during early Thursday morning in …

US stocks ended sharply lower on Wednesday after the FOMC minutes showed the Fed will likely raise rates sooner than earlier anticipated and could reduce its balance sheet shortly after it raises rates. The Dow Jones sank 393 points or 1.1% to 36407, after closing at a record level the …

Minutes from the Fed’s December meeting indicated that policymakers are ready to aggressively dial back policy stimulus.One key aspect, the US central bank’s balance sheet, was the subject of prolonged discussions, with policymakers pointing to a reduction in bond purchases during the coming months. Fed Members expressed concern about inflation …

The US dollar edged lower for most of Wednesday, but eventually received an unexpected boost from the US Federal Reserve’s Meeting Minutes. Fed policymakers noted that “In light of elevated inflation pressures and the strengthening labor market, participants judged that the increase in policy accommodation provided by the ongoing pace …

`Gold falls on hawkish FOMC minutes which sent both the US dollar and yields higher. FOMC minutes point to a faster increase of the federal funds rate.Gold has fallen sharply on the back of the Federal Open Market Committee minutes that stated, ”in light of elevated inflation pressures & strengthening …

The minutes of the 14-15 December FOMC meeting, released on Wednesday, said most participants judged conditions for rate hike could be met soon. According to FOMC Minutes, recent high levels of inflation will raise the public’s longer-term inflation expectations to levels higher than those consistent with the committee’s longer-run inflation …

US President Joe Biden could announce remaining Federal Reserve Board of Governor Nominees as soon as this week.Michigan State University economist Lisa Cook, former Fed research economist Philip Jefferson, and former Fed Governor Sarah Bloom Raskin are the leading candidates as the Biden administration seeks to diversify the Board of …

The WTI crude oil has advanced into the $78.00s, up $4.0 from earlier weekly lows and back to pre-Omicron levels. Oil prices have shrugged off a bearish weekly US oil inventory report as post-OPEC+ meeting optimism continues on the immediate next trading session.Oil markets have shrugged off bearish weekly US …