Dollar Hits 2-Month Low Before US Inflation Data Investors are betting that U.S. inflation data due later today will show a sharp slowdown, which could lead the Federal Reserve to end its aggressive rate hike cycle. Economists polled by Reuters expect to see June U.S. consumer price inflation slow to 3.1% from 4% in May. …
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Dollar firming up on a hawkish Fed view The dollar firmed up on Thursday as investors digested the latest Federal Reserve policy meeting minutes, which reinforced expectations for a rate increase this month. The minutes showed that a majority of policymakers believe that further rate hikes are needed to curb inflation, even though they acknowledged …
U.S. equity index futures rose on Friday morning after the release of the latest inflation data. The May core PCE price index, which is the Federal Reserve’s preferred inflation measure, rose 0.3% month-over-month, in line with expectations. However, the core PCE price index rose 4.7% year-over-year, below the consensus forecast of 4.8%. The weaker-than-expected inflation …
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Gold Prices Set for Biggest Weekly Drop Since February on Hawkish Fed Gold prices are on track for their biggest weekly drop since February, as the dollar strengthened after U.S. Federal Reserve Chair Jerome Powell reiterated that more interest rate hikes were in the offing. Spot gold was up 0.2% to $1,917.57 per ounce by …
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Gold Falls to 3-Month Low as Central Banks Signal More Tightening Gold prices fell to a three-month low on Wednesday as investors sold the metal on expectations of more aggressive monetary tightening by central banks around the world. The Federal Reserve, the European Central Bank, and the Bank of England have all signaled that they …
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US Housing Starts Jump 21.7% in May, Building Permits Rise 5.2% The US housing market showed signs of life in May, with housing starts jumping 21.7% on a monthly basis. This was the largest monthly increase since March 2020, and it easily beat economists’ expectations for a decline of 0.8%. The surge in housing starts …
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The USD Index extends its recovery to 102.60 as investors await Fedspeak and housing data. The USD Index (DXY) continued to recover on Tuesday, reaching new 3-day highs around 102.60. The index has been on an upward trend for the past three sessions, as investors have become more optimistic about the outlook for the US …
Gold prices are stuck in a narrow range as investors look ahead to Powell’s testimony and the Fed’s rate hike plans. Gold prices were flat on Tuesday as investors awaited further guidance on interest rates from U.S. Federal Reserve Chair Jerome Powell. The Fed is expected to keep rates unchanged at its meeting later this …
Global markets prepare for a week of central bank action Stocks in Asia were subdued on Monday as investors looked ahead to a week of central bank meetings, with the Bank of Japan, the Federal Reserve, and the Bank of England all expected to raise interest rates. The Nikkei 225 in Japan fell 0.3%, while …
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The dollar index steadied above 102 on Monday as investors weighed the implications of the Federal Reserve’s pause in its tightening campaign against the hawkish stance of other major central banks. The index, which measures the greenback against six major currencies, fell 1.2% last week after the Fed’s decision to keep rates unchanged. However, the …