Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Friday that his outlook is for a reduction in policy rate in the summer time, per Reuters.The US Dollar Index showed no immediate reaction to these remarks and was last seen posting small daily gains at 104.33.Bostic noted that …
Read More »EUR/USD falls as PPI signals policy tightening
The EUR/USD pair has fallen to 1.0759 as US inflation data surpasses expectations, indicating sustained Fed attentiveness. January’s Producer Price Index (PPI) increased 0.3% MoM, exceeding estimates, while the core PPI also beat forecasts, jumping sharply to 0.5% MoM from -0.1% in December. The ECB’s cautious approach to rate cuts …
Read More »US Core Producer Price Index Surges, Exceeding Expectations
In January 2024, the US core producer price index, which excludes food and energy costs, experienced a notable surge, rising by 0.5% compared to the previous month. This robust rebound marked a significant turnaround from the 0.1% decline observed in the preceding month, surpassing market forecasts that had anticipated a …
Read More »Dollar Slips Amid Strong US Data but Anticipation of Fed Rate Cut Persists
The US dollar faced a second consecutive session of decline on Thursday, following the release of a mix of robust US economic data. However, market sentiment remains geared towards the Federal Reserve’s potential interest rate cut in June, marking the first adjustment since the onset of the Covid-19 pandemic. Dollar …
Read More »Nikkei Index Nears All-Time High, Hits 34-Year Peak
Nikkei’s Historic Surge:Japan’s Nikkei index surged to its highest level in 34 years on Friday, edging closer to surpassing the all-time high reached during the country’s economic bubble era in the 1980s. The index breached the post-bubble economic era’s previous peak, setting the stage for potentially eclipsing the record set …
Read More »Gold Under Pressure Amid Shifting Rate Cut Expectations
Subdued Performance Overview:Gold faces downward pressure for the second consecutive week on Friday, as unexpected upticks in US consumer prices prompt traders to reassess their outlook on interest rate cuts. However, the precious metal sees a partial recovery following a decline in consumer spending. Gold Price Movement:Spot gold settled at …
Read More »EUR/USD advances following weak US retail sales
The euro has gained ground on the US Dollar following a drop in US retail sales and Treasury yields, leading to a decline in US rates and the dollar. The EUR/USD pair trades at 1.0784, with softer Eurozone data indicating a rise in the euro. Retail sales decreased by -0.8%, …
Read More »Japan’s GDP Contracts in Q4 Contrary to Expectations
Unexpected GDP Contraction:Data released by the Prime Minister’s Office in Japan early Thursday morning revealed a contraction in the country’s gross domestic product (GDP) during the fourth quarter. Contrary to expectations of growth by approximately 1.4%, the GDP contracted by 0.4% on an annual basis. Furthermore, the previous reading for …
Read More »Dollar Holds Below Three-Month High Amid Uncertainty Over Fed Rate Cuts
Dollar’s Stance Amidst Fed Rate Cut Speculations:The dollar remained below a three-month high on Thursday as investors grappled with the question of when the Federal Reserve would initiate interest rate cuts. Central bank officials’ comments on Tuesday’s inflation data further complicated the situation, leading to cautious market sentiment. Yen’s Resilience …
Read More »Gold Prices Hold Steady Near Two-Month Low Amidst Mixed Fed Comments
Gold prices remained resiliently near a two-month low, reflecting the market’s response to mixed commentary from Federal Reserve officials regarding January’s inflation data. This dynamic has tempered expectations for a significant cut in interest rates, prompting investors to closely monitor developments in the precious metals market. Assessment of Market Movement:In …
Read More »