PRECIOUS-Gold eases on worries over higher-for-longer rates
*Gold down 1% this week so far*U.S. Jan PCE data due at 1330 GMT*Fed rates seen peaking at 5.338% in July(Adds comments and details, updates prices)Feb 24 (Reuters) – Gold prices inched lower on Friday as investors fretted that a recent slate of stronger-than-expected economic data from the United States could make the Federal Reserve […]
GLOBAL MARKETS-Stocks limp toward biggest weekly fall of the year
*World shares in danger of biggest weekly fall of 2023*Dollar clings to 2-mth high; traders await U.S. PCE data*Nikkei rises as BOJ nominee says to maintain ultra-loose policy*Geopolitics in focus on first anniversary of Ukraine invasion*Graphic: World FX rates tmsnrt.rs/2egbfVh*LONDON, Feb 24 (Reuters) – World shares limped toward their biggest weekly fall of the year […]
PRECIOUS-Gold tiptoes higher as investors focus on Fed minutes
*Fed minutes due at 1900 GMT*U.S. dollar index down 0.1%*U.S. 10-yr Treasury yields hit highest since November*Silver, platinum off one-week highs marked on Tuesday(Adds details, updates prices)Feb 22 (Reuters) – Gold prices rose marginally on Wednesday, as investors awaited minutes of the U.S. Federal Reserve’s latest policy meeting to assess prospects of further interest rate […]
PRECIOUS-Gold listless as traders look to U.S. data for Fed clues
*U.S. dollar index up 0.2%*Fed minutes due on Wednesday*Traders await U.S. PCE, GDP data(Updates prices)Feb 21 (Reuters) – Gold traded in a tight range on Tuesday as investors refrained from taking big positions ahead of U.S. economic data that could influence the Federal Reserve’s interest rate-hike strategy.Spot gold eased 0.1% to $1,838.66 per ounce, as […]
54% of Americans are dipping into savings to pay for everyday expenses
Inflation is still taking a hefty toll on households, recent reports show.Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics.To make ends meet, 27% of Americans said they’ve had to take money […]
A new inflation warning for consumers coming from the supply chain
An Optoro warehouse in Tennessee that handles returns for retailers.Source: Matt Adams | OptoroAs the markets prepare for the latest consumer price index data on Tuesday, logistics managers are warning of a persistent source of inflation in the supply chain, and saying consumers should be ready for the impact it will have on their wallets. […]
There Is More Inflation Complexity Ahead by Mohamed A. El-Erian
As US inflation gradually eases, the claim that today’s inflationary pressures are the result of a temporary supply shock has re-emerged. While this thesis may be comforting, it could also encourage dangerous complacency, making an already serious problem much harder to solve. CAMBRIDGE – Nearly two years into the current bout of inflation, the concept […]
Biden’s dramatic warning to China
CNN — President Joe Biden starkly warned he will protect America against Chinese threats to its sovereignty and singled out President Xi Jinping – a striking escalation of a suspected spy balloon showdown during his State of the Union address. Biden called out Beijing on Tuesday before millions of viewers in the US and around […]
Wholesale egg prices have ‘collapsed’ from record highs in December
Egg shelves in New York on Jan. 21, 2023 with a note apologizing to customers for the price increase.Fatih Aktas/Anadolu Agency via Getty ImagesWholesale egg prices have cratered in recent weeks from record highs, meaning consumers may soon see relief at the grocery store.But the dynamics of egg pricing from the wholesale to retail market, […]
Gold slides over 2% as robust jobs report stokes hawkish Fed fears
(Reuters) – Gold prices dropped over 2% on Friday to a more than three-week low after stronger-than-expected U.S. jobs data raised fears that the Federal Reserve could keep hiking interest rates.Granules of gold and silver are seen in glass jars at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, […]