US stocks rallied, although indexes gave up gains unevenly ahead of the close, while government bond yields ticked lower, sending the American dollar in a selling spiral, exacerbated by the breakout of technical levels.The EUR/USD pair trades at its highest in two months at around 1.1450, while GBP/USD jumped to …
Read More »Fed Speakers See Rate Increases As Early As March
The President and CEO of the Federal Reserve Bank of San Francisco Mary Daly has stated that the Federal Reserve Bank does not want to get too far ahead on calling a number of rate increases.She explained that they definitely see rate increases as early as March because inflation is …
Read More »Fed’s Bullard: Four Rate Hikes In 2022 Now Very Likely
According to Federal Reserve Bank of St. Louis President James Bullard, four rate hikes in 2022 now appear very likely in the face of high inflation, a rate hike in March seems on the table. The labour market is as tight as anyone has ever seen it, Bullard added in …
Read More »Biden: US Making Progress On Still-Rising Inflation
US President Biden on Wednesday has insisted that his administration is “making progress” on inflation, despite data showing it continued to grow last month for an annual jump of 7 percent, the highest increase since 1982.The White House highlighted falling fuel costs in December and lower overall monthly increase of …
Read More »US Government Budget Deficit Sharply Narrows More Than Expected
The US budget deficit sharply narrowed to USD 21.3 billion in December 2021, compared with a USD 143.5 billion gap in the same period last year and market expectations of a USD 25 billion gap. Outlays increased 3.7 percent to USD 508.04 billion, while receipts soared 40.6 percent to USD …
Read More »Fed’s Mester: Rate Increases Depending On Economy
Federal Reserve Bank of Cleveland President Loretta Mester said in an interview with the WSJ that, depending on what happens with the economy, some of the rate increase further out may need to be moved forward. Additional Remarks:“There are many things pushing up inflation now, including supply chain issues and …
Read More »US Dollar Sinks After CPI Data
The US Dollar has dropped 30 pips across the board, meanwhile, commodities have jumped, Treasury yields have fallen and the dollar is under broad pressure following the CPI report.The price move is a little tough to square with the data. The numbers were broadly in-line with the consensus, if not …
Read More »Oil Retreated From Its Highest Level Since Omicron
The statements of US Federal Reserve Chairman Jerome Powell came with a state of concern in the markets about the lack of supply resulting from the current events in Libya and Kazakhstan, giving a solid boost for oil prices. Powell stressed that the fed uses all tools to manage the …
Read More »What Impact Will December CPI Data Have On Risky Assets?
Will CPI data confirm US highest Inflation in 4-Decades? This is only one of several persistent questions raised by traders who are awaiting the important economic data as tighter Fed monetary policy could subject risky assets from stocks to cryptocurrencies to more downward pressure.Bitcoin traders generally bet that the largest …
Read More »US Shares Reclaim Losses On Back Of Powell’s Remarks
The S&P 500 has reclaimed 4700 on Tuesday amid broad US equity market upside as tech recovers post-Powell remarks. The index has recovered more than 2.8% from Monday’s sub-4600 lows.The lack of any fresh hawkish surprises seemed to give the green light for a technical reversal of recent moves. Having …
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