Market Update

According to the Fed’s Beige Book, released on Wednesday, wages and other prices gains were seen across most of the 12 districts. As for the overall economic outlook; the Fed said that the US economy grew at a modest pace since mid-May but several of the central bank’s regional districts …

Richmond Federal Reserve president Thomas Barkin told Wall Street Journal that he believes headline and core inflation is too high.“I definitely see signs of softening,” Barkin said, with the evidence “most pronounced in lower income households” and in parts of the economy that saw demand surge during the pandemic.Barkin also …

Gold Price sharply bounced during the last hours and stabilized in the positive territory for the day. The precious metal, earlier, bottomed at $1,706 following US inflation data and then redounded rising by $40 within a few minutes. Gold peaked at $1,745, the highest level in three days. Volatility in …

European natural gas prices surged for a second trading day as investors, market participants and traders are watching Russia’s Nord Stream 1 pipeline on maintenance, speculating when it could be completed and thereafter reopened. The pipeline was shut for planned maintenance that is scheduled to last for 10 days, but …

Wall Street stocks dropped and short-dated Treasuries came under pressure on Wednesday after hotter than expected US inflation data fueled expectations of aggressive Federal Reserve rate hikes.US stocks opened sharply lower after the Consumer Price Index reading in June showed inflation surged in June more than expected, with the annual …

The USD/JPY pair jumped after the release of the US June CPI to 137.86, reaching a fresh 24-year high. After the beginning of the US trading session pulled back to 137.10. As of writing, it is moving back to the 137.50 area.Inflation keeps rising, so does the US dollar. Inflation …

Following the Bank of Canada’s (BOC) decision to hike the policy rate by 100 basis points to 2.5% in July, Governor Tiff Macklem is delivering his remarks on the policy outlook and responding to questions from the press.Meanwhile, Senior Deputy Governor Carolyn Rogers argued that part of restoring the balance …

Data on Wednesday showed that Turkey’s unemployment rate fell 0.3 percentage point on a monthly basis in May, while the seasonally adjusted disguised unemployment rose 0.8 percentage point to 22.4 percent. Disguised unemployment was declining for most of the past year, after it peaked at 29.6 percent in January 2021 …

The euro hovered above parity with the US dollar on Wednesday as traders focused on US data due later on Wednesday that is expected to show inflation at a 40-year high. European stocks witnessed a decline and the currency markets were calm in early European trading, with the dollar index …

Eurozone’s Industrial Production increased more than expected in May, the official data published by Eurostat showed on Wednesday, suggesting a gradual upturn in the bloc’s manufacturing sector activity. The industrial output in the old continent arrived at 0.8% MoM vs. a 0.3% rise expected and 0.5% last. On an annualized …