Risky assets retreated following Friday’s inflation report, with bitcoin losing about $762.36 to trade below $23,190.00, within a few dollars of its lowest level of this week. Nasdaq 100 futures were down 1.9%, and S&P 500 futures are lower by 1.4%. The January PCE Price Index unexpectedly rose to 5.4% …
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Two more 25 bps rate hikes in March and May could result in a terminal 5.00%-5.25% by May. The FOMC meeting minutes provided additional information about the Fed’s committee’s decision to hike rates by 25 bps in February. Economists are now looking forward to a 5.25% terminal rate at the …
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Rates may need to increase significantly, according to the February Fed minutes. Despite a holiday-shortened business week, there will still be plenty of market-moving information available. On Wednesday, the FOMC minutes will be made public, and on Friday, PCE inflation data and the University of Michigan Inflation Forecasts will be …
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The US dollar achieved strong gains in the last trading week, driven by a series of strong US economic data, with the markets increasing expectations that the US Federal Reserve will continue its tightening approach. In terms of weekly trading, the US dollar recorded a strong rise in today’s trading, …
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Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …
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The US Dollar Index began the trading week down around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Fed startled investors away from the American currency which closed the week at 101.9.Oil Price ActionOn …
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The GBP/USD has trimmed some of Wednesday’s gains after treading above 1.2400, the US economic data bolstered the US dollar, a headwind for the Pound Sterling.Retail Sales in the UK were disappointing while Brexit negotiations improved, according to McGrath, Irish PM. The GBP/USD pair dropped as the release of US …
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Markets expect core PCE inflation, which excludes volatile food and energy prices, to rise 0.3% on a monthly basis and forecast the annual rate to decline to 4.4% from 4.7% in November. If the awaited reading meets the said estimates, it would be the lowest since October 2021 but still …
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Gold price drops more than 0.60% due to profit-taking as well as the positive US economic data. US Gross Domestic Product for Q4 has beat markets’ estimates, while jobless claims retreated. Durable Good Orders jumped while new orders shrank. Gold price retreats after hitting a nine-month high of $1949.16 and …
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The US PCE inflation eased for November as expected. In the United States also, the Durable Goods Orders was disappointing. Meanwhile, the GBP/USD pair struggles to retain the 1.2038 mark as US dollar demand increase ahead of the long weekend.Following a short-lived slide to 1.2022, which is a fresh daily …
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