The Reserve Bank of New Zealand is expected to stick to its hawkish stance and go on with a fourth straight half-point rate hike, in August, continuing its most aggressive tightening in over two decades in an attempt to control the country’s stubbornly-high inflation,” as per the latest Reuters poll …
Read More »Joe Biden: Seeing some signs of inflation moderating
US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”Earlier in the day, the data published by the US Bureau of …
Read More »US annual CPI inflation declines to 8.5% in July vs. 8.7% expected
Inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 8.5% on a yearly basis in July from 9.1% in June, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in lower than the market expectation of 8.7%. …
Read More »Unemployment in Turkey fell to 10.3% in June
The unemployment rate in Turkey fell to 10.3% last June from 10.9% in May, according to data from the Turkish Statistical Institute today, Wednesday, August 10. Data on Wednesday showed that the Turkish unemployment rate fell 0.3% in June compared to the same month last year. The number of unemployed …
Read More »Gold rises as US dollar rattled by inflation fears
Gold futures ended session higher on Tuesday buoyed by dollar weakness ahead of US inflation readings due to be released next Wednesday amid forcastes inclined to lower inflation in July. Gold settled at 1793 USD per ounce versus last Monday close at 1788 USD per ounce. The low of the …
Read More »US Nonfarm Productivity Falls 4.6% in 2Q
US labour productivity declined for the second consecutive quarter as overall economic output contracted and employers spent more on labor as they added workers.US nonfarm labor productivity is a measure of goods and services produced in the US per hour worked, fell at a seasonally adjusted annual rate of 4.6% …
Read More »US soaring inflation could ease in July, forecast by nine major banks
The US Bureau of Labor Statistics will release July’s CPI data on Wednesday, August 10 at 12:30 GMT and as markets get closer to the release time, forecasts by the economists of nine major banks regarding the upcoming US inflation print expect inflation to ease down.Economists expect inflation to decelerate …
Read More »New York Fed’s inflation expectation retreat to 6.2% in July
The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US Consumers’ one-year inflation expectations declined to 6.2% in July from 6.2% in June. The three-year inflation expectations edged lower to 3.2% from 3.6%.The US dollar stays reluctant following this report and the …
Read More »USD/CHF turns sideways ahead of NFP data
The USD/CHF pair is wavering in an 11-pip range as investors await the important NFP data in the US. Estimated 200k for the NFP could even drag the asset lower. The Dollar Index failed to capitalize on a wave of hawkish commentary from several Fed policymakers.The USD/CHF pair is displaying …
Read More »BoE to decide biggest rate hike in 27 years
On Thursday, the Bank of England is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995. This move would take borrowing costs to 1.75% as the central bank encounters rising inflation and would be the first half-point hike since it was made independent …
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