As expected, the BoE raised interest rate by 50 bps to 3.50%. The BoE is seen as having provided no sufficient support for GBP to climb according to some economists.As broadly expected, the BoE hiked 50 bps to 3.50% and signaled that more hikes are likely. The vote was biased …
Read More »Walmart’s Strong Earnings and High-End Customer Base
Walmart recently revealed first-quarter fiscal earnings that were higher than anticipated. During th…
Dow Jones marginally rises on quiet Friday trading
With a marginal increase, Dow Jones seems unchanged on quiet Friday, although it was still significa…
US Dollar Seems Neutral Amid Cautious Remarks By Fed Policymakers
As of right now, the US dollar index is trading at 104.50, indicating a neutral performance (DXY). S…
GBP/USD Rallies as bulls aim for YTD high
During the North American session on Friday, the GBP/USD pair recovered from its losses on Thursday …
Weaker Canadian Dollar May Not Stop BoC’s Divergence From Fed’s Path
In order to prevent a falling currency that could jeopardize the outlook for inflation, the Bank of …
Bitcoin Reverses Gains Amid Fed Warnings on Interest Rates
Bitcoin prices dipped slightly on Friday, erasing some of the gains seen in the past two days as cau…
European Stocks Edge Lower Ahead of Key Inflation Data
European stock markets retreated slightly on Friday, as investors awaited crucial inflation data ami…
Dollar Faces Largest Weekly Drop Against Euro in Over Two Months Amid Cooling U.S. Inflation and Economic Slowdown
The dollar is on track for its biggest weekly decline against the euro in two and a half months, as …
Gold Prices Dip Amid Fed Officials’ Cautious Stance, but Weekly Gains Persist
Gold prices saw a slight decline on Friday, trimming some of the week’s gains, as Federal Rese…
Asian Markets Retreat Amid Fed Warnings and Mixed Chinese Data
Asian stock markets faced declines on Friday as a series of warnings from Federal Reserve officials …
Market Analysis
December, 2022
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15 December 2022 5:47 pm
US: Weekly Initial Jobless Claims decline to 211K
There were 211,000 initial jobless claims in the week ending December 10, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 231,000 (revised from 230,000) and came better than the market expectation of 230,000. Further details of …
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15 December 2022 4:15 pm
BOE hikes policy rate by 50 bps to 3.5% as expected
Following its December policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 50 basis points (bps) to 3.5% as expected. The vote was 6-3 in favor of the rate decision. Two members, Tenreyro and Dhingra, voted to keep rates at 3% while Mann voted …
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15 December 2022 2:44 pm
Gold is falling as the Fed confirms the path of raising interest rates
Gold prices fell by nearly 1% Thursday, December 15th, after Jerome Powell, Chairman of the Federal Reserve, said that next year will witness more interest rate hikes. Gold in spot transactions fell 0.9% to $1791.23 an ounce, further retreating from the peak of more than 5 months that it recorded …
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15 December 2022 12:59 pm
BoE Preview: 50 bps hike?
The Bank of England (BoE) is likely to return to its conservative stance in the final meeting of this year, having delivered its biggest rate hike in 33 years in November. The BoE will announce its interest rate decision at 12:00 GMT this Thursday, accompanied by the Minutes of the …
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15 December 2022 12:54 pm
SNB raises rates by 50 bps from 0.50% to 1.0%
The Swiss National Bank (SNB) raised its benchmark sight deposit interest rate by 50 basis points (bps) to 1.0% from 0.50% previous, as widely expected. At the December policy meeting, the SNB hiked rates for the third consecutive meeting, summing up to a total of 175 bps of rate increases …
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15 December 2022 12:52 pm
European stocks are falling, eyes on ECB
European stocks fell on Thursday as investors anxiously awaited the European Central Bank’s interest rate decision, a day after the US Federal Reserve hinted it would continue to raise interest rates. The pan-European Stoxx 600 index was down 0.9 percent at 0810 GMT. The European Central Bank is widely expected …
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15 December 2022 3:15 am
Market Drivers – US Session 14/12/2022
The Fed decided a 50-basis point rate hike as expected, while the policy statement was closer to a copy of the previous one. The US central bank is still adopting reserved language about the possibility of recession, but with most Fed officials considering downside risks, it is fair to say …
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15 December 2022 2:06 am
What Is Wall Street Saying About Fed’s Latest Rate Hike
Investors are busy analyzing the potential levels of the Fed’s hawkishness. They are also digesting Wednesday’s speech by Fed Chair Jerome Powell. Fed officials projected that rates will rise at least another half a percentage point next year. That was enough to impact US stocks that became lower and at …
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15 December 2022 12:23 am
Powell: No one knows if we are going to have a recession or not
FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 50 basis points to the range of 4.25-4.5% following the December policy meeting.Key Quotes“Data we have received so far on inflation for October and November do show a welcome reduction …
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14 December 2022 11:58 pm
Powell: Aiming at moving policy to be restrictive enough, not at rate cuts
FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 50 basis points to the range of 4.25-4.5% following the December policy meeting.Key quotes“Drop in inflation will come from goods sector and by the middle of next year from housing …
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14 December 2022 11:01 pm
Fed Hikes interest rate by half a percentage point as expected
The Federal Reserve has decided to raise interest rates by half a percentage point at the end of its two-day policy meeting on Wednesday to continue its fight against inflation. Inflation, as noted in Tuesday’s CPI report, has eased to 7.1% in the 12 months to November from a blistering …
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14 December 2022 8:43 pm
Could Powell deliver a relatively hawkish press conference?
In a few minutes, at 19:00 GMT the Fed will announce its decision on monetary policy. Traders and investors expect a 50-basis points rate hike. According to some economists, in spite of positive inflation data and signs since the last meeting, to avoid an unwanted further decline in interest rates …
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