Market Update

The Bank of Mexico hiked its key interest rate by 75 basis points to a record 10.00% on Thursday, in line with forecasts and following in the footsteps of the US Fed’s own recent three-quarter of a percentage point increase.In a departure from recent decisions, the bank’s five board members …

Federal Reserve Bank of Cleveland President Loretta Mester said Thursday that while there are some new hopeful signs of moderating inflation, the main risk still facing the US central bank is that it doesn’t act aggressively enough to tame very high price pressures.Given the current level of inflation, its broad-based …

The dollar falls sharply on Thursday after US consumer prices for October rose less than expected and pointed to underlying inflation having peaked, this reading has been the sort of data that markets cheered for as it could allow the Fed to ease up on aggressively hiking interest rates.The consumer …

Bitcoins enjoys a splendid break from the frightening price action this week, the world’s most famous cryptocurrency gained around $1,600, nearly 10%, following the sizable slowdown in US inflation. On Thursday, the Consumer Price Index for October rose 0.4%, far slower than expectations for 0.6%, the Labour Department reported on …

The AUD/USD pair has jumped following the key inflation data in the United States. The CPI figures came below expectations. Speculation above smaller rate hikes from the Fed impacted the US dollar, so, the pair hit at 0.6564, the highest level since late September.Pre-CPI Versus Post-CPIThe US Consumer Price Index …

Wall Street’s major indices opened sharply higher on Thursday. At the same time, data showed consumer prices rose less than expected in October, raising hopes that the US Federal Reserve may ease the pace of future interest rate hikes. The Dow Jones Industrial Average rose 749.97 points, or 2.31 percent, …

The US Bureau of Labor Statistics reported on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.7% on a yearly basis in October from 8% in September. This reading came in below the market forecast of 8%. The Core CPI, which excludes …

The dollar rose ahead of US inflation data later on Thursday, while cryptocurrencies remained under pressure after crypto exchange Binance withdrew its plans to rescue struggling rival FTX. The dollar is heading towards recording strong gains for the second day in a row, while investors evaluate the results of the …

A combination of high inflation, monetary tightening, and disappointing earnings led to a historic sell-off in Amazon shares since early 2022, which saw it lose nearly $1 trillion. Amazon shares fell; The e-commerce giant increased 4.3% on Wednesday, pushing its market value to about $879 billion from a record close …

We’re seeing some risk aversion in financial markets on Thursday as we await inflation data from the US later in the week. Considering how well they’ve performed in recent days and weeks, it probably won’t come as a surprise to many that we’re seeing stock markets in the red. It …