Fed’s Barkin: A lot of time still before deciding on size of September rate hike

Fed's Barkin: A lot of time still before deciding on size of September rate hike

Richmond Federal Reserve Bank President Thomas Barkin said on Friday that FOMC policymakers had “a lot of times still” before they decide on the size of the September rate increase, as reported by Reuters. Additional takeaways “Fed will need to move rates to restrictive territory but will take signal from the economy on how high that needs to be.” “At this point, underlying demand seems stronger than it did as of the…

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Gold Price Forecast: XAU/USD extended losses beyond $1750 as Jackson Hole looms

Gold Price Forecast: XAU/USD extended losses beyond $1750 as Jackson Hole looms

The gold price plunged 3% in the week, despite investors’ perceived dovishness of July’s FOMC minutes. US central bank policymakers continued their campaign against inflation, even though they acknowledged downside risks to growth. Gold Price Analysis (XAU/USD): Break below $1750 opened the door towards the $1711-$1739 range. Gold price drops for the fifth-consecutive day, set to finish the week down by 3%, triggered by sentiment shifting sour, while the US dollar…

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Elon Musk says he is buying Manchester United Football Club

Elon Musk says he is buying Manchester United Football Club

Tesla Chief Executive Officer Elon Musk said on Tuesday he was buying football club Manchester United Plc. “I’m buying Manchester United ur welcome,” Musk said in a tweet. Also, I’m buying Manchester United ur welcome— Elon Musk (@elonmusk) 1660694506000 Musk has a history of making irreverent tweets, and it was not immediately clear whether he planned to pursue a deal. Manchester United, controlled by the American Glazer family, did not immediately respond to a request for comment. The…

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Market share of private fuel retailers falls 50-80% in a year

Market share of private fuel retailers falls 50-80% in a year Read more at: https://economictimes.indiatimes.com/news/economy/finance/market-share-of-private-fuel-retailers-falls-50-80-in-a-year/articleshow/93603470.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

The big and sudden shift in demand from the pumps of private players to public companies caused great inconvenience to customers in some places during the summer while adding to the losses state companies were already incurring due to the retail price freeze. Indian OilNSE 2.24 %, Bharat Petroleum and Hindustan PetroleumNSE 3.88 %, the state-run retailers, have reported a combined loss of Rs 18,500 crore in the April-June quarter. Private…

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Pound May Fall Below $1.20 in Next Month, SocGen Strategist Says

Pound May Fall Below $1.20 in Next Month, SocGen Strategist Says

(Bloomberg) — The pound is likely to fall to the lowest level since the pandemic crash as the Federal Reserve’s rate-hike path continues to outpace that of the Bank of England’s, according to Societe Generale SA strategist Olivier Korber. The BOE’s recent recession warning combined with growing expectations of another 75 basis-point interest-rate hike in the US, may put sterling at risk of falling below $1.20 “in the very near term,”…

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Dollar bruised after U.S. inflation comes in below expectations

Dollar bruised after U.S. inflation comes in below expectations

By Alun John HONG KONG (Reuters) – The euro and Japanese yen were sitting pretty on Thursday morning after U.S. inflation data overnight came in less hot than feared and sent the dollar tumbling. U.S. consumer prices were unchanged in July compared with June, when prices rose a monthly 1.3%. The July result was lower than expectations due to a sharp drop in the cost of petrol, causing markets…

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USD/JPY traces yields to retreat towards 135.00, US inflation, Taiwan eyed

USD/JPY traces yields to retreat towards 135.00, US inflation, Taiwan eyed

USD/JPY pares intraday gains around one-week high as bulls take a breather after the biggest daily jump in seven weeks. Yields retreat from fortnight high as traders prepare for Wednesday’s US CPI. US NFP propelled hawkish Fed bets and favored USD bulls, Taiwan concerns also underpin greenback’s safe-haven demand. Japan’s trade deficit widened in June, Eco Watchers Survey eyed. USD/JPY seesaws around 135.30 as buyers find less acceptance around a…

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Fed Governor Bowman: Large interest-rate rises could continue

Fed Governor Bowman: Large interest-rate rises could continue

In an appearance before the Kansas Bankers Association, on Saturday, US Federal Reserve (Fed) Governor Michelle Bowman said that she strongly supports super-sized rate increases to fight inflation, per Wall Street Journal (WSJ). Key quotes “Strongly supported the Fed’s 0.75-percentage-point rate increase last month” and “similarly-sized increases should be on the table until we see inflation declining in a consistent, meaningful and lasting way.” “Expect the labor market to remain strong,” adding that the…

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S&P 500 Bull Trend, Dollar Bear Trend as Recession Signals Set In and NFPs Approach

S&P 500 Bull Trend, Dollar Bear Trend as Recession Signals Set In and NFPs Approach

S&P 500, VIX, DOLLAR, GDP, RECESSION AND NFPS – TALKING POINTS: The Market Perspective: S&P 500 Bearish Below 4,075; USDJPY Bearish Below 134.00; EURUSD Bullish Above 1.0100 An unrelenting pace of Fed – and other central bank – rate hikes has not pitched the market into the sense of despair we have historically related to such conditions Recession fears will remain a principal concern out over the coming week with events like the ISM service sector report…

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NFP and Forex Trading: MAIN TALKING POINTS

NFP and Forex Trading: MAIN TALKING POINTS

Non-Farm Payrolls (NFP) releases create volatility in the forex market. NFP measures net changes in employment jobs. Forex traders use an economic calendar to prepare for NFP releases. What is the NFP? The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It represents the number of jobs added, excluding farm employees, government employees, private household employees and employees of nonprofit organizations. NFP releases generally cause…

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