XAU/USD stays defensive above $1,920 support as US Dollar steadies ahead of Fed, NFP
Gold price bounces off intraday low but stays directionless after closely missing the bear’s entry in the week. China’s return boosts Asia-Pacific shares, S&P 500 Futures bear the burden of firmer yields. XAU/USD bulls appear running out of steam even as Fed’s dovish hike, downbeat expectations from US NFP probe bears. Gold price (XAU/USD) aptly […]
Dollar clings to gains after U.S. data; traders eye Fed next week By Reuters
2/2 © Reuters. FILE PHOTO: U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo 2/2 By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar clung to modest gains against the euro on Friday after data showed falling U.S. consumer spending and cooling inflation, and as investors awaited a slew […]
Crude Oil Price Firms as Markets Appraise Fed Hiking Against China Re-opening
Crude Oil, WTI, Brent, FOMC, Fed, BoE, ECB. OPEC+ China, Contango – Talking Points Crude oil prices found some support today as China returns from holidays Offsetting Chinese optimism, the Fed, BoE and ECB are set to hike this week OPEC+ will be meeting on Wednesday and contango remains in play for WTI Recommended by […]
AUD/USD extends recovery above 0.7100 despite caution stems in market mood
AUD/USD has scaled to near 0.7115 after a recovery move despite solidifying cautionary market mood. The Fed might hike interest rates by 25 bps and keep them steady at 4.75-5.00% for the remaining year. Australian monthly Retail Sales are expected to display de-growth by 0.3%. The AUD/USD pair has accelerated to near 0.7115 after rebounding from […]
ICYMI – Former Treas Sec Summers urged the Fed to refrain from signaling its next move
The Federal Open Market Committee (FOMC) meeting is Wednesday: statement is due Wednesday February 1 at 2pm US ET (1900 GMT) with Powell’s presser following a half hour, later. Earlier: — ICYMI, Former US Treasury Secretary Lawrence Summers spoke with Bloomberg (gated). “I don’t think it’s a time to be committing to rate hikes, given […]
WSJ reports ”Fed debates whether wages or low unemployment will drive inflation”
The Wall Street Journal has written in the weekend press that ”stubbornly high inflation is finally easing as supply chain disruptions fade and interest rates at 15-year highs put the brakes on demand. Now, Federal Reserve officials have voiced unease that prices could reaccelerate because labour markets are so tight.” ”At issue is what’s the […]
US Dollar, Euro, British Pound, Gold, Dow Jones, Fed, ECB, BoE
Body: Recommended by Daniel Dubrovsky Get Your Free Equities Forecast Global market sentiment continued improving this past week. On Wall Street, the Nasdaq 100, S&P 500 and Dow Jones gained 4.32%, 2.47%, and 1.81%, respectively. Across the Atlantic Ocean, the German DAX 40 gained 0.77%. Meanwhile, in the Asia-Pacific region, the Nikkei 225 and Hang […]
Fed to hike 25bps; the bar is high to flip the status quo for USD – TD
TD Research discusses its expectations for next week’s FOMC policy meeting. “We expect a 25bp rate hike at next week’s FOMC meeting taking the Fed funds target range to 4.50%-4.75%, and raising the IOER and RRP rates to 4.65% and 4.55%, respectively. The move would be the second consecutive downshift in hiking pace by the […]
Dallas Fed trimmed mean PCE price index +2.3% annualized in December vs +3.0% prior
One-month trimmed mean annualized +2.3% vs +3.0% prior 12-month PCE trimmed mean +4.4% vs +5.0% prior These one-month numbers have come down from 6.0% in August to near the Fed’s target. It will take more numbers like this with the help of lapping soft comps to get the Fed where it wants to be. Source […]
EUR/USD holds at around 1.0860s as traders brace for the Fed and ECB’s decisions
The US core PCE, the Fed’s preferred gauge for inflation, edges down, sparking speculations for a Fed pivot. Consumer Sentiment improved, while inflation expectations ticked lower. EUR/USD Price Analysis: Upward biased, but short-term neutral, ahead of Fed and ECB’s decisions. The EUR/USD got rejected from the 1.0900 psychological barrier for two consecutive days and on […]