Gold gains on softer dollar, slower Fed rate-hike bets
U.S. weekly jobless claims data due at 1330 GMTGold benefiting from flight to safety after U.S. data – analystU.S. producer prices fall more than expected in DecemberJan 19 (Reuters) – Gold prices rose on Thursday and are set to snap a three-day losing streak, helped by a weaker dollar and as signs of cooling U.S. […]
Fed’s Bullard doesn’t want to ‘stall’ on getting interest rates over 5%
The Federal Reserve should not “stall” on raising its benchmark rates until they are above 5%, said St. Louis Fed President James Bullard, on Wednesday. “I like the front-loading story,” Bullard said in an interview with the Wall Street Journal that was streamed live . The Fed should move as rapidly as it can to […]
S&P500 Futures continues downside on slowdown fears, yields refresh multi-month low
Market sentiment remains negative as lower US PPI has pushed S&P500 valuations to the expensive side. Firms have been forced to trim the prices of their offerings to match weaker demand. Lower US PPI-inspired downward revision for inflation projections has sent US Treasury yields to a multi-month low. Intense sell-off by the market participants in […]
Fed Chair Powell Tests Positive for Covid-19, Has Mild Symptoms By Bloomberg
© Bloomberg. Jerome Powell Photographer: Ting Shen/Bloomberg (Bloomberg) — Federal Reserve Board Chair Jerome Powell tested positive for Covid-19 and is experiencing mild symptoms. Powell, 69, received the positive test Wednesday and “is up to date with Covid-19 vaccines and boosters,” the Fed said in a statement, adding that he is working remotely while isolating […]
Gold back up above $1,900 level as dollar loses ground
Jan 18 (Reuters) – Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold.Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, […]
Column-Trapdoor for dollar, red flag for Fed: Mike Dolan By Reuters
2/2 © Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo 2/2 By Mike Dolan LONDON (Reuters) – The U.S. dollar’s accelerating decline from the heady highs of 2022 has a ways to go yet – but the speed of the drop may build […]
Morgan Stanley on Fed pause: “a lot of money sitting around waiting to be put to work”
ICYMI – Morgan Stanley CEO James Gorman spoke on an earnings call Tuesday. “I’m highly confident that when the Fed pauses, deal activity and underwriting activity will go up. I would bet the year on that, in fact,” “We’re not of the view that we’re heading into a dark period. Whatever negativity in the world […]
Fed’s Barkin:”My hope is we have seen peak inflation behind us”
Tom Barkin, the president and CEO of the Federal Reserve Bank of Richmond, is crossing the wires. Key comments My hope is that we have passed the peak of inflation. The median CPI is still too high for what I want to see. Cannot declare victory over inflation too soon. Doesn’t favour backing off too soon, […]
Market Spotlight: Shifting Fed View Drives Bitcoin Bounce
BTC Rebound UnderwayFollowing heavy losses over 2022, Bitcoin is starting the year in a much more encouraging manner. The leading crypto asset has recorded a roughly 30% rally over initial 2023 trading, taking price back up to levels last seen in September 2022. The main driver behind the move appears to be the shift in […]
XAU/USD continues to face correction risks – TDS
Gold rallied all the way up to $1,920 in the last session of the week. However, strategists at TD Securities note that the yellow metal confronts correction risks. Precious metal space is no longer in a selling mode “Reflecting the narrative that inflation pressures in the US economy are coming under control, following the release […]