Market Update

The US Dollar sharply dropped again after the release of more inflation data from the US. The figures offer signals that inflation continues to cool, triggering more gains in Wall Street and Treasury bonds.Economic DataThe US Producer Price Index (PPI), which reached its peak in June 2022 at 11.2%, increased …

According to prepared remarks for delivery at a conference sponsored by The Money Marketeers of New York University, Federal Reserve Governor Christopher Waller has expressed his support for hiking rates at the July FOMC meeting. The decision-maker also demonstrated his reluctance to declare US inflation under control and supported further …

Stocks surged as another significant inflation reading came in lower than anticipated. The Dow Jones Industrial Average gained 47.71 points, or 0.14%, to close at 34,395.14, while the S&P 500 rose 0.85% to reach 4,510.04, marking the S&P 500’s highest closing level in more than a year. The Nasdaq Composite …

The GBP/USD pair has rallied after the US Producer Price Index (PPI) for June surged below estimates, indicating a steady deceleration of inflation in the largest world economy. The pair is trading at 1.3133 at the time of writing. The UK is seen as hardly missing a recession, but fears …

Gold maintains choppy performance despite US dollar’s losses Given that the market’s expectations for future US interest rate increases have been greatly reduced, the recent decline in gold prices is likely to have come to an end. Even so, we anticipate some additional upside potential for the year’s conclusion. Because …

The US federal budget deficit sharply widened to $227.76 billion in June, up from $88.8 billion in the same month last year. The deficit was $1.39 trillion for the first nine months of the fiscal year, up from $515.1 billion in the same period last year. Government receipts fell from …

In an interview with CNBC on Thursday, San Francisco Federal Reserve President Mary Daly said it was too early to declare victory on inflation, as reported by Reuters.Daly’s comments were not capable of helping the US Dollar find demand. As of writing, the US Dollar Index was down 0.55% on …

A spokesperson for the International Monetary Fund (IMF) said on Thursday that slowing exports and weaker private investment cause China’s growth momentum to slow, per Reuters.There doesn’t appear to be any discernible effect of these remarks on risk mood. As of writing, the S&P 500 Index was up 0.6% on …

The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, indicating a persistent labor shortage in some sectors of the market even as job growth slowed. On Thursday, the Labor Department said first-time jobless claims fell by 12,000 jobs to 237,000 when adjusted for seasonal factors …

The International Energy Agency said on Thursday that oil demand will rise to a record level this year as supply tightens, but in light of adverse economic conditions and interest rate hikes, the increase will be slightly smaller than expected. However, the Paris-based agency expects demand growth next year to …