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Euro, yen sit pretty after latest US inflation data
... rose by a monthly 1.3 per cent. The July result was lower than expected due to a drop in the cost of petrol, which caused markets to reposition on hopes that inflation was peaking. If price rises have reached their zenith, investors expect the U.S. Federal Reserve Federal Reserve to not have to maintain its eye-wateringly steep rate of interest rate hikes, which had previously supported the dollar. The euro was at $1.0297 on Thursday morning after jumping 0.84 per cent the day before, its biggest daily ...
Updated: 08/11/2022
Asian markets track Wall Street rally
After a softer than expected US inflation data spurred speculation that the Federal Reserve could pivot to a shallower pace of interest-rate hikes, Asia stocks are poised to track a Wall Street rally. After a softer than expected US inflation data spurred speculation that the Federal Reserve could pivot to a shallower pace of interest-rate ...
Updated: 08/10/2022
These are the defensive stocks that beat the S&P 500
... month. Greg Robb provided further analysis of what the better-than-expected inflation report might mean for interest rates when the Federal Open Market Committee meets Sept. 20 -- 21, which will be followed by a decision on the fed funds rate and the Federal Reserve's investment policy. All 11 sectors of the S&P 500 were up for the day: The Nasdaq 100 includes the largest 100 non-financial stocks in the full Nasdaq Composite Index COMP. When added to the S&P 500, the group expands to 518 stocks, 92% of which ...
Updated: 08/10/2022
Traders dial back wagers on the Federal Reserve's hiking path
... consumer price data showed yearly inflation decreased to 8.5 per cent, a lower reading than economists predicted, bets were trimmed from around 60 per cent earlier in the day. The downside surprise prompted traders to dial back wagers on not only the Federal Reserve's hiking path but also the Bank of Canada 's, on the possibility that policy makers may not need to tighten financial conditions as quickly or as much as previously expected to rein in persistent price pressures.
Updated: 08/10/2022
Fed's Kashkari says central bank will need to raise rates by 2023
In to Reuters- Minneapolis Federal Reserve Bank President Neel Kashkari, he believes that the central bank will have to raise its policy rate to 3.9% by the end of 2023 and 4.4% by this end of 1923 to fight inflation. According to Reuters- Minneapolis Federal Reserve Bank Federal Reserve ...
Updated: 08/10/2022
Consumer prices up 0.5% in July
... Bill Adams , chief economist at Comerica Bank , said that inflation probably peaked in year-over-year terms. After June's 5.9% jump, core inflation, which does not include volatile food and fuel components, was unchanged on a year-over-year basis. The Federal Reserve, which has committed to reining in soaring prices while trying to avoid a recession, is facing a growing challenge because of the month's worth of increases in the Consumer Price Index, which covers a wide range of goods and services Americans ...
Updated: 08/10/2022
May home prices down 19% in May compared to April
... recently predicted that home prices would drop to an annual gain of 5% by May 2023, as rising mortgage rates and affordability challenges are expected to cool homebuyer demand. We noted previously that mortgage financing has become more expensive as the Federal Reserve Federal Reserve ratchets up interest rates, a process that was ongoing as our May data was gathered, Lazzara said. A more challenging macroeconomic environment may not support extraordinary home price growth for a long time. The Federal Reserve ...
Updated: 08/10/2022
Dollar falls on cooler US inflation report
On Wednesday, the dollar fell more than 1 percent after a cooler than expected inflation report for July that raised expectations of a less aggressive rate hike cycle than previously anticipated by the U.S. Federal Reserve. On Wednesday, the dollar fell more than 1 percent after a cooler than expected inflation report for July that raised expectations of a less aggressive rate hike cycle than previously anticipated by the U.S. Federal Reserve Federal Reserve....
Updated: 08/10/2022
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