The chances for a global recession drive the demand for safe-haven assets, and traditionally the US dollar is one of them. From a technical point of view, the US economy has already entered a recession due to posting two straight quarters of negative GDP growth. The EUR/USD pair has broken …
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Federal Reserve’s president and CEO of the Federal Reserve Bank of St. Louis James Bullard: in a CNBC interview has said rates aren’t high enough now.Meanwhile, Fed funds futures traders are pricing in a 59% chance that the Fed will hike rates by another 75 basis points at its September …
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The S&P 500 and the Nasdaq surged on Thursday on support from growth and semiconductor stocks, while investors eyed the Federal Reserve’s Jackson Hole conference for clues on its policy outlook. Fed Chair Jerome Powell is due to give a speech on Friday that will be scrutinized for any indication …
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The Federal Reserve should continue raising it benchmark interest rate until it is over 3.4% and then “sit for a while,” said Philadelphia Fed President Patrick Harker on Thursday.“We don’t need to rush way up and then rush way down,” Harker said, in CNBC interview from the Fed’s retreat in …
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The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) second estimate showed on Thursday. This reading came in higher than the flash estimate of -0.9% and surpassed the market expectation of -0.8%.
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Gold prices rose for a third consecutive session on Thursday, supported by the dollar’s decline as investors looked to the Jackson Hole Economic Symposium for clues on inflation and the interest rate path from the US Federal Reserve. Spot gold rose 0.8 percent to $1,764.39 an ounce by 0927 GMT. …
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The US dollar retreated from its highest level in two decades against a basket of major currencies on Thursday, as investors awaited the speech of Federal Reserve Chairman (US Central Bank) Jerome Powell in anticipation of recent indications regarding the course of monetary policy. The Australian dollar has outperformed its …
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Investors have an eye on digesting the latest US economic data and another eye on the signals that could be contained in Fed Chair Jerome Powell’s speech before Jackson Hole Symposium on Friday. Fed’s annual event will host global economists and policymakers to discuss a variety of topics. Market players …
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Wall Street closed higher on Wednesday, lifted by gains in energy stocks while investors await Federal Reserve’s Jackson Hole conference later this week.Intuit Inc rallied by 4% after the accounting software maker forecast upbeat fiscal 2023 revenue, providing reasonable boost for the tech-heavy NasdaqAfter the bell, Salesforce Inc (CRM.N) dipped …
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Gold has extended its bullish correction to the 38.2%$ ratio target and now has a chance of a deeper correction. Jackson Hole symposium is looming and signals by Jerome Powell are most awaited for direction and clues.The dollar benefited from higher US yields following the demand from domestic and international …
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