The US Dollar Index (DXY) is experiencing losses due to weak Personal Consumption Expenditures data from December, which gave hope for earlier rate cuts. Market expectations suggest a possible Fed rate cut in March, but if economic growth sustains itself, a March cut seems unlikely. As a result, bets have …
Read More »EUR/USD rises on fueled speculation about a Fed rate cut following PCE data
In North American trading, the EUR/USD pair rises as a result of weaker US core PCE inflation statistics. As the Fed’s core PCE index drops to 2.9%, expectations of an interest rate reduction rise, supporting the rise in EUR/USD.Early in the North American session, the EUR/USD increased by about 0.14% …
Read More »Canadian dollar benefits from surging oil prices
The Canadian dollar was able to regain the upward trend after the improvement in risk in global financial markets following positive US economic data that suggested the “soft landing” scenario and that the Federal Reserve’s approach to achieving it is still possible.Oil futures concluded Thursday’s trading in an upward direction …
Read More »Gold attempts to recover after higher-than-expected US GDP data
After the most recent data revealed that the US economy grew faster than anticipated and that inflation came in lower than expected, gold prices are trading at session highs during the North American session. The yellow metal is trading at $2014.39 per ounce at the time of writing.The US economy …
Read More »PCE Data Preview: Forecasts by major banks, US inflation seen toward target
Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Friday, January 26 at 13:30 GMT and as we get closer to the release time, here are the forecasts of economists and researchers of eight major banks. Headline …
Read More »Lagarde looks optimistic about ‘disinflation process’
The European Central Bank President, Christine Lagarde, has warned that rapid wage growth is slowing in the eurozone, with interest rates holding at 4%. According to Lagarde, disinflation process is at work, and the pick-up in inflation in December was weaker than expected. Lagarde also noted that price pressures would …
Read More »The Turkish Central Bank raises interest rates by 250 basis points
In its initial meeting of 2024, the Turkish Central Bank opted to further raise interest rates by 250 basis points, bringing the new rate to 45%, aligning with market expectations. The decision, announced on Thursday, January 25, reflects the ongoing effort to curb inflation and stabilize the Turkish economy. The …
Read More »Gold is hovering near a one-week low amid the strength of USD
Gold prices maintained their position near a one-week low on Thursday, as they grappled with the influence of a resilient dollar and escalating bond yields. The market’s focus was primarily directed towards the impending release of US GDP data and the outcome of the European Central Bank’s (ECB) monetary policy …
Read More »BoC’s Macklem warns from giving false precision about rate cut timing
Tiff Macklem, Governor of the Bank of Canada (BoC), and Senior Deputy Governor Carolyn Rogers explain the BoC decision to leave the interest rate unchanged at 5% after the January policy meeting and respond to questions from the press.Key Quotes“Inflation is still somewhat broad-based and that’s why we’re concerned about …
Read More »The head of the Turkish Banking Association expects to start cutting interest rates in Q4
Alpaslan Çakir, Chairman of the Turkish Banks Association, anticipates that the Turkish Central Bank will raise interest rates for the final time this week and commence a monetary easing cycle in the fourth quarter of this year. Cakir, in comments made on Tuesday but embargoed until Wednesday, stated, “Rising interest …
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