Fed clearly delivered a hawkish hold overnight, signaling that two more rate hikes are underway. However, market participants appear skeptical about the Fed’s aggressive posture. According to Fed funds futures, markets are still projecting interest rate to peak at 5.25-5.00%, anticipating just one more 25-basis point rate hike in July. Moreover, there’s over 60% chance
The Federal Reserve exerted a hawkish pause by skipping a rate hike but raising the terminal rate to 5.6% from 5.1%. That implies 50 more basis points hikes between now and the end of the year. The market which was thinking in terms of no change and the potential for no change in July, is
Headlines: Markets: AUD leads, JPY lags on the day European equities lower; S&P 500 futures down 0.3% US 10-year yields up 3.1 bps to 3.829% Gold down 0.7% to $1,929.74 WTI crude up 1.1% to $69.19 Bitcoin flat at $24,925 Markets are still digesting the Fed policy decision yesterday, and I shared some thoughts on
Bullion prices fell sharply in the opening trade on Thursday on a stronger Dollar Index and the Federal Reserve’s assertions that the Central Bank could go for two more rate hikes by the end of this year. The Fed commentary strengthened the greenback and led to slippages in the price of gold and silver. MCX
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Progress can have its drawbacks, as the French stock market regulator, the nongovernmental Autorité des marchés financiers (AMF), has noticed. According to the AMF ombudsman, digital asset-related mediations rose sharply in 2022, as did the number of registered digital asset service providers (DASPs). In its newly released 2022 annual report, the AMF ombudsman included a
Share: Gold Price clings to mild gains while snapping three-day downtrend. Federal Reserve’s hawkish halt defends XAU/USD bulls despite upbeat FOMC announcements. China data-dump, United States Retail Sales eyed for clear directions of the Gold Price. XAU/USD bears keep poking 100-DMA as bulls struggle to keep the reins. Gold Price (XAU/USD) stays defensive around $1,945
Dollar is facing renewed selling in early US session as data reveals a further slowdown in upstream inflation via PPI. All eyes are now on the much-anticipated FOMC rate decision where a ‘hold’ is broadly expected. However, the possibility of an upside surprise in both inflation projections and the dot plot remains, suggesting that we
There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets: In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered. EURUSD: The EURUSD moved
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Oil prices rose on Wednesday after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC and as investors awaited the outcome of the U.S. Federal Reserve’s June meeting. Brent crude futures were up 95 cents, or 1.3%, at $75.24 a barrel by 1346 GMT. U.S. West Texas Intermediate (WTI) crude was
Share: Pound Sterling has shown a vertical upside post a comparative analysis of the UK’s economic prospects from other nations. More interest rate hikes by the BoE seem possible as UK’s inflationary pressures are extremely stubborn. UK’s labor wages showed more persistence as firms are offering higher payouts to offset labor supply shortage. The Pound Sterling (GBP) has
The financial markets remain firmly entrenched in a risk-on stance as signs increasingly point towards Fed “skipping” tightening at today’s rate decision. As a result, Yen, Swiss Franc, and Dollar are this week’s worst performers, exhibiting no clear indications of a resilient bounce. On the other end of the spectrum, Australian and New Zealand Dollar
The USD weakened lately following a beat in the NFP data. The weak details, such as a higher unemployment rate and lower average weekly hours, contributed to this shift towards less hawkish expectations. A looser labour market should bring down inflation faster. Additionally, the miss in the ISM Services PMI, particularly the lower prices paid
Here’s a look at how the curve in Fed funds futures have changed since a month ago and at the start of this month: It may seem like an eternity but it was just four weeks ago that traders were still convinced of three rate cuts by the Fed before year-end. That pricing was ultimately
Gold prices gained in the early trade on Wednesday on the back of a weaker dollar index (DXY). Although traders maintained their cautious approach ahead of the Federal Open Market Committee (FOMC) outcome, scheduled later in the day. MCX August Gold futures were trading at Rs 59,301 per 10 grams in the opening trade, up