Dollar bounces in early US session, buoyed by unexpectedly low initial jobless claims data, which also lifts US 10-year yield. One of the key themes emerging this week is recalibration of market expectations regarding rate cut by Fed in March, with the probability now down to around 56%. Today’s job data is likely another factor
Yen’ decline resume today after release of Japan’s latest CPI data, which suggests that BoJ is not be under immediate pressure to exit its negative interest rate policy. . Economists have noted a crucial aspect of Japan’s inflation dynamics: while cost-push inflation is clearly easing, the transition to demand-pull inflation remains unconfirmed. The market’s attention
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the
Raphael Bostic at Jackson Hole, Wyoming David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank’s goal. Bostic, a voting member this year on the rate-setting Federal
Shoppers walk past shops on Regent Street on the final weekday before Christmas in London on December 22, 2023. Henry Nicholls | Afp | Getty Images U.K. retail sales dropped significantly more than expected in December, in a sign that the economy may have entered a shallow recession in the second half of 2023. The
Jakub Porzycki | Nurphoto | Getty Images The world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions. Here are TSMC’s fourth-quarter results versus LSEG consensus estimates: Revenue: 625.53 billion New Taiwan dollars ($19.62 billion), vs. NT$618.31 billion expected Net income: NT$238.71 billion, vs. NT$225.22 billion
Share: The US Dollar (USD) is still on top across G10 and EM FX. Economists at ING analyze Greenback’s outlook. Dollar can stay broadly supported into the 31 January FOMC We think the Dollar can consolidate after the recent gains, continuing to draw some benefits from Christopher Waller’s remarks earlier this week, which may have
Share: WTI Oil jumps near 1% after Reuters reported overnight drone attacks in Russia. Belguim is joining US/UK task force to attack Houthi rebels and enforce safe passage in the Red Sea. The US Dollar Index caught at mid-103 level after traders repriced rate cut bets from March to May. Oil prices are at session’s
Share: AUD/JPY moves above a key level of 97.00 after the Australian economic data. Aussie Consumer Inflation Expectations and Unemployment Rate remained consistent at 4.5% and 3.9%, respectively. Japanese Yen faces challenges as BoJ is expected to maintain an ultra-dovish stance. AUD/JPY extends its gains for the second straight session, improving to near 97.10 during
The USDJPY has continued it trend like move the upside today. In the process the price cracked above the 100-day moving average and 61.8% retracement of the move down from the November high. That level came in at 147.45. The subsequent run to the upside after that break, so the pair move up to a
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil fell more than $1 on Wednesday as economic growth in China was a little short of expectations, raising concerns about future demand, while U.S. dollar strength dented investors’ risk appetite. Brent crude futures fell $1.38, or 1.8%, to $76.91 a barrel by 1428 GMT. U.S. West Texas Intermediate crude futures (WTI) were down $1.35,
Sterling emerged as the star performer in today’s market, largely driven by surprising inflation data from the UK. CPI inflation in December showed an unexpected acceleration, with core CPI remaining at elevated level. This development led to a swift change in the market’s perspective concerning BoE’s policy, reducing the anticipated number rate cuts this year
Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday. Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online nonstore businesses. The results were better than the
Share: Christine Lagarde will participate in the World Economic Forum, in Davos. ECB President’s speech will be scrutinized for fresh insights on the economy and policy. European Central Bank held rates for the second straight meeting in December. European Central Bank (ECB) President Christine Lagarde speaks in her first of three stage appearances at the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices slipped on Wednesday in early trade amid gains in the dollar index. Taking cues from the international market, MCX February gold futures were trading lackluster. Gold futures were trading flat at around Rs 62,000 per 10 grams, though the bias was slightly negative. Meanwhile, the March Silver futures were trading at Rs 71,865