The USD/JPY pair advanced 1% to the 147.70 level. US Jobless Claims for the week ending December 30 were reported at 202K, which was less than expected. With 164K new employment added in December, the US ADP Employment Change exceeded expectations.The pair rises while the US economy remains stable. The …
Read More »US Dollar Retreats Ahead Of PCE Data
The core Personal Consumption Expenditures Price Index would increase by 0.1% in November, signifying a 3.3% increase from the previous year according to market estimates. Policymakers should take heart from this since it provides a steadier picture of pricing pressures by removing unpredictable prices for food and petrol.A 3.3% reading …
Read More »Fed signals 3 interest rate cuts in 2024
The Fed has held its key interest rate unchanged for the third consecutive time and set the stage for multiple cuts to come in 2024 and beyond. With inflation rates easing and the economy holding in, FOMC members voted unanimously to keep the benchmark overnight borrowing rate in a targeted …
Read More »Stocks rise after surprise change in US unemployment
After hitting a high of 4,606.31, which put it within one point of its 2023 peak, the S&P 500 stayed close to the flatline, while the Dow Jones Industrial Average gained 24 points, or 0.1%. 0.15% was added to the Nasdaq Composite. The unemployment rate unexpectedly decreased in November, from …
Read More »US economy adds more jobs than expected in November
According to data released on Friday by the Bureau of Labour Statistics, Non-farm payrolls rose by 199,000 following an unrevised 150,000 jump in October. Analysts were expecting a 180,000 increase.In November, the unemployment rate decreased slightly from 3.9% in October to 3.7%, defying predictions that it would stay the same.Average …
Read More »EUR/USD dives amidst broad US dollar’s momentum
The market is heavily heading towards safe havens, and the EUR/USD pair has broken through the 1.0800 handle. The Euro is expected to fall against the US dollar for a fifth day in a row. Even better-than-expected Eurozone economic data was easily ignored by most market players.With the Euro falling …
Read More »Gold down after diving $100 in two days on stronger US dollar
Gold’s $100 two-day decline challenges the metal’s reputation as a safe haven in the face of growing dollar appeal. The US Dollar Index rises 0.29% to 103.93, indicating a change in the way the market views the dollar. Following an unexpectedly high ISM Non-Manufacturing PMI of 52.7, the US economy …
Read More »US ISM Services PMI slightly rises in November
The US ISM Service PMI Index increases to 52.7 in November from 51.8 in October. The US dollar slides after JOTLS report and ISM Service PMI.Economic activity in the services sector expanded in November for the 11th consecutive month. The ISM Services PMI stood at 52.7, up from 51.8 in …
Read More »US Dollar peaks on Chicago PMI reading
The US dollar trades in the green against all major currencies. US traders are seeing PCE confirming sticky pace of inflation. The US Dollar Index climbs above 103 and could still flip this week’s overall performance into positive territory. The dollar bulls are being back by Wednesday and Thursday’s data …
Read More »Eurozone Preliminary HICP inflation softens to 2.4% YoY in November
The Eurozone Harmonised Index of Consumer Prices (HICP) rose by 2.4% on an annual basis in November, marking a decrease from October’s 2.9% increase, according to official data published by Eurostat on Thursday. This figure fell short of market expectations, which anticipated a 2.7% print. In November, Core HICP inflation …
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