Dollar Plunges as Fed Says Disinflation Now in Play
The dollar tumbled on Thursday after the U.S. Federal Reserve said it had turned a corner in the fight against inflation, giving markets a confidence boost that the end of its rate-hike campaign is near. Source link
PRECIOUS-Gold flat as traders focus on Fed decision
*Fed policy decision due at 1900 GMT*U.S. labour cost growth smallest in a year(Adds details and updates prices)Feb 1(Reuters) – Gold held steady on Wednesday, as investors refrained from taking big bets ahead of the U.S. Federal Reserve’s policy decision due later in the day.Spot gold was flat at $1,927.75 per ounce, as of 0720 […]
IMF hikes global growth forecast as inflation cools
The IMF has revised its global economic outlook upwards.Norberto Duarte | Afp | Getty ImagesThe International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity.In its latest economic update, the IMF said the global […]
GLOBAL MARKETS-Stocks take breather after January surge, Adani plunges in India
LONDON, Jan 27 (Reuters) – World stocks eked out a 5-1/2 month high and the dollar held close to an eight-month low on Friday, as reassuring U.S. economic and inflation data kept the bulls largely in charge ahead of next week’s slate of top central bank meetings.Asia-Pacific shares maintained their best start to a year […]
Fourth-quarter 2022 GDP: What economists are expecting
Economic growth is expected to have slowed slightly in the fourth quarter but was still solid, driven by a strong consumer.Economists will be studying Thursday’s report on U.S. gross domestic product carefully for signs of how strong or weak the consumer actually was at the end of 2022. Retail sales suggest spending fell off sharply […]
Gold falls as dollar holds ground, traders eye U.S. data
(Reuters) – Gold prices slipped on Wednesday from a nine-month peak hit in the previous session as the dollar steadied and investors squared positions ahead of U.S. fourth-quarter economic growth figures.FILE PHOTO: Gold bullion is displayed at GoldSilver Central’s office in Singapore June 19, 2017. REUTERS/Edgar Su/File PhotoSpot gold was down 0.6% to $1,925.75 per […]
Inflation is cooling, but high prices will stick around
A shopper checks out the egg section at the Publix at Winter Park Village, Tuesday, Jan. 17, 2023.Joe Burbank | Orlando Sentinel | Tribune News Service | Getty ImagesInflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged.In the months ahead, the big […]
GLOBAL MARKETS-European stocks edge higher, Wall Street futures flat
European stock indexes edged higher on Monday, while Wall Street futures struggled to make gains as investors weighed up recession fears with hopes that inflation could be past its peak. Liquidity was thin during Asian trading hours as markets in China, Hong Kong, Singapore, Malaysia, South Korea and Taiwan were closed for the Lunar […]
Yellen warns of ‘global financial crisis’ if US debt limit agreement isn’t reached
CNN — Treasury Secretary Janet Yellen on Friday warned of the widespread global effects that could be felt if the federal government exhausts extraordinary measures and fails to raise the debt ceiling, telling CNN’s Christiane Amanpour about the ways everyday Americans could face stark consequences. Yellen’s warning comes after the United States on Thursday hit […]
Dimon says Congress shouldn’t play games with U.S. creditworthiness
Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. Adam Galica | CNBCJPMorgan Chase CEO Jamie Dimon said Thursday that politicians should be serious about the debt ceiling as Congress remains locked in a political fight to increase the U.S. borrowing limit.”We should […]