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Asian markets cautious ahead of US jobs data
... September. The market needs to be primed for a strong number. U.S. non-farm payrolls data is due on Friday, and analysts polled by Reuters expect 250,000 jobs to be added last month and unemployment to come in at 3.7 per cent. Overnight, San Francisco Federal Reserve President Mary Daly emphasized the U.S. central bank's commitment to curbing inflation with more interest rate hikes, but she also stated that the Fed will not barrel ahead if the economy starts to crack. Atlanta Fed President Raphael ...
Updated: 10/06/2022
Dollar struggles to hold on to gains in choppy trade
... for rate cuts in 2023. I think that reminded people that you might be a bit premature in trying to price in rate cuts in the U.S., said Westpac currency strategist Imre Speizer . He said that it pushed up rates and pushed up the U.S. dollar as the Federal Reserve's Federal Reserve's aggressive moves to rein in inflation set the pace for central banks around the globe. Speizer said it was a trade for the whole world. There is no way that a currency's interest rates can go off and do their own thing....
Updated: 10/06/2022
Asian stocks set to fall as investors retreat from US, European shares
... for more clarity. Rubeela Farooqi , chief US economist for High Frequency Economics , said that an adjustment higher in oil prices could have an impact on inflation numbers. Inflation measures could be reversed in October if prices continue to rise. Federal Reserve Bank of Atlanta President Raphael Bostic said on Wednesday he favored raising interest rates to 4.5% by the end of the year, implying a further 125 basis points of tightening. His San Francisco counterpart Mary Daly warned against any ...
Updated: 10/05/2022
UN nuclear chief heads to Kyiv to discuss security zone around Zaporizhzhia site
... the plant last month, has advocated for setting up a security perimeter that both sides would commit not to attack. A decree by Putin on Wednesday said that the Russian government would make sure the nuclear facilities at the plant are integrated as federal property. The Zaporizhzhia facility is situated near the front line in the southern Ukrainian region of the same name, one of four Russian-occupied regions Moscow formally annexed last week. The annexations followed referendums denounced by the ...
Updated: 10/05/2022
S&P 500 remains 17% above year-end 2019 levels, but this year's selloff doesn't feel as bad as expected
... carnage. The S&P 500 remains about 17.1% above the year-end 2019 levels, according to Dow Jones Market Data , although this year's selloff might feel brutal, especially after the September carnage. That isn't low enough, given the likely scope of Federal Reserve actions needed to bring surging inflation back to the central bank's 2% annual target, according to Steven Blitz , chief U.S. economist at TS Lombard . Markets are being routed but they are resetting due to too rich price levels created ...
Updated: 10/05/2022
US oil and gas association mocks Biden over not turning to first oil
... that a million barrels a day would be released from the strategic reserve for six months. In Biden 's first days in office, oil prices began to increase after he used executive orders to cancel the Keystone XL pipeline and paused oil and gas leases on federal lands.
Updated: 10/05/2022
WTO forecasts world trade growth in 2023
... Ukraine. A number of countries including the European Union and the U.S. have responded to the conflict by sanctioning Moscow, including targeting Russian oil exports. There is a chance that there will be a fallout from higher interest rates. The Federal Reserve and other central banks have responded to the worst inflation crisis in four decades with new austerity measures that threaten to cause a global recession. Consumer spending, particularly on major expenses like homes and vehicles, is likely ...
Updated: 10/05/2022
Putin orders Russia to take over Ukraine nuclear plant
... region called Zaporizhzhia, one of four regions that President Vladimir Putin formally incorporated into Russia on Wednesday in a move condemned by Kyiv as an illegal land grab. The Zaporizhzhia nuclear plant is now on the territory of the Russian Federation and should therefore be operated under the supervision of our relevant agencies, according to the Deputy Foreign Minister Sergei Vershinin. Putin signed a decree that designated the ZNPP federal property Russia's nuclear power operator Rosenergoatom ...
Updated: 10/05/2022
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