Market Update

The US budget deficit sharply narrowed to USD 21.3 billion in December 2021, compared with a USD 143.5 billion gap in the same period last year and market expectations of a USD 25 billion gap. Outlays increased 3.7 percent to USD 508.04 billion, while receipts soared 40.6 percent to USD …

According to the Fed’s Beige Book, a report on current economic conditions in each of the 12 Federal districts, most districts experienced a sudden pullback in leisure and travel spending, as well as hotel occupancy and patronage at restaurants as the number of Covid-19 Omicron infections rose. Additional Takeaways: “Contacts …

US equities are up broadly higher as markets relieved that the latest US CPI data was not worse, rather the data comes in line with expectations though at a 40 year high. The S&P 500 is about 0.3% in the 4730 area whilst the Nasdaq 100 up 0.5% and probing …

Federal Reserve Bank of Cleveland President Loretta Mester said in an interview with the WSJ that, depending on what happens with the economy, some of the rate increase further out may need to be moved forward. Additional Remarks:“There are many things pushing up inflation now, including supply chain issues and …

The US Dollar has dropped 30 pips across the board, meanwhile, commodities have jumped, Treasury yields have fallen and the dollar is under broad pressure following the CPI report.The price move is a little tough to square with the data. The numbers were broadly in-line with the consensus, if not …

Inflation in the US, as measured by the Consumer Price Index (CPI), rose to 7.0% on a yearly basis in December from 6.8% in November, the US Bureau of Labor Statistics reported on Wednesday. That was in line with the median economist forecast for a reading of 7.0%. The MoM …

The US bank, Goldman Sachs, cut its growth forecast for China, as it faces a difficult battle to contain the spread of the fast-spreading Corona mutated, and the US investment bank now sees that the economy will grow 4.#% this year, compared to 4.8% its previous forecast. Economists at the …

The price of the dollar settled near its lowest level in two months against the major currencies on Wednesday, ahead of the release of data that is expected to show a new rise in the US inflation rate, which supports the prospects of rising interest rates early. Federal Reserve Chairman …

European shares rose on Wednesday, tracking gains made by Wall Street in the evening after Federal Reserve Chairman Jerome Powell expressed a less hawkish stance on monetary policy during testimony before Congress. The pan-European STOXX 600 index rose 0.5% by 0813 GMT, following the path of global stocks, after Powell …

Japanese stocks rose on Wednesday after investors accepted shares that had fallen in price before, after the Federal Reserve Chairman Jerome Powell’s less hawkish-than-expected comments supported US stocks. The Japanese Nikkei index closed up 1.92 percent, recording 28,765.66 points, achieving the highest daily increase since December 21, while the broader …