Americans lean heavily on credit cards amid inflation
D3sign | Moment | Getty ImagesWith day-to-day expenses staying high due to inflation, more Americans are relying on credit cards to make ends meet.As the personal savings rate sank near an all-time low, credit card balances jumped 15% year over year, according to the latest quarterly report from the Federal Reserve Bank of New York, notching […]
XAU/USD to extend its rally on slowing inflation – Commerzbank
Gold price climbed to $1,880 at the start of the week, thereby posting an eight-month high. The US inflation data for December will be released on Thursday and could lend further tailwind to the yellow metal, economists at Commerzbank report. Inflation rate to have fallen from 7.1% to 6.5% “US inflation data could lend further […]
US, China Inflation and Reopening Impact
The two largest economies in the world are expected to report inflation figures later this week. But, by far, the US figure is expected to be the most important. The yuan trades within a bound set by the PBOC, which limits the impact that data can have. However, the broader implication of prices and China, […]
USD Dips Ahead of Powell Speech, US Inflation Data
The USD dipped against the EUR ahead of Federal Reserve Chairman Jerome Powell’s speech later today. Will the currency continue last year’s story of strength or is there a new theme of dollar weakness in the air? The US Dollar’s strength was a long-running theme in 2022, affecting the affordability of commodities like crude oil […]
Fed’s Bostic sees a likelihood services inflation will prove stickier than Fed would want
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 […]
PRECIOUS-Gold accelerates to 8-month peak on dollar pullback
*U.S. CPI report due on Thursday*Dollar index down 0.4%(Updates prices)Jan 9 (Reuters) – Gold prices extended gains to an eight-month high on Monday as a weaker dollar made greenback-priced bullion cheaper for overseas buyers, while investors bet on a less-aggressive rate-hike trajectory from the U.S. Federal Reserve this year.Spot gold was up 0.8% at $1,880.33 […]
Globalization is not dead, but it is facing a big tail-risk, expert says
Reports that globalization is dead are overstated, a top economist says. Conventional wisdom has it that globalization will suffer in the aftermath of the pandemic and Russia’s war in Ukraine. The Biden White House’s move to reshore manufacturing and to deny China access to advanced technologies are seen as further steps away from a robust […]
XAU/USD renews eight-month high near $1,880 on China concerns, softer US Dollar
Gold price grinds higher after refreshing multi-day high. China unlock, PBOC’s gold stocking underpins XAU/USD run-up. US Dollar bears the burden of downbeat data, mixed Fedspeak. Light calendar, cautious mood ahead of US inflation figures probe Gold buyers. Gold price (XAU/USD) rises to the highest levels since early May 2022 as the risk-on mood joins […]
Weekend – BoE’s Mann says price caps on energy could be boosting other inflation
Bank of England Bank of England The Bank of England (BoE) functions as the United Kingdom’s central bank and is one of the key drivers of monetary policy in Europe. As one of the world’s oldest central banks and established in 1694, the BoE is owned by the British government. Its central mandate involves maintaining and targeting […]
‘Markets are going to get rocked’ as Fed is likely to push rates higher, economist warns
The Federal Reserve is likely to raise interest rates more than the markets now expect, says Ricardo Reis, an economist at the London School of Economics. “Markets are going to get rocked,” Reis told MarketWatch on the sidelines of the American Economic Association annual meeting in New Orleans. “All the risks are on the upside. […]