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

August 21, 2022
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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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Elon Musk says he is buying Manchester United Football Club

August 17, 2022
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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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Dollar bruised after U.S. inflation comes in below expectations

August 11, 2022
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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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Fed Governor Bowman: Large interest-rate rises could continue

August 8, 2022
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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

August 1, 2022
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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

August 1, 2022
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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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Dollar slides as mixed U.S. data highlights uncertain path

July 31, 2022
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Dollar slides as mixed U.S. data highlights uncertain path

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a three-week low in choppy trading on Friday, as investor concerns about recession outweighed inflation worries, for now, amid a mixed batch of economic data. There was also a lot of month-end position-squaring, analysts said. Earlier, U.S. economic numbers showed that inflation continued its red-hot rise in June, keeping the Federal Reserve on track to raise interest rates…

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ECB and US CPI in focus

June 10, 2021
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ECB and US CPI in focus

This week’s price action in equity markets appears to have been more or less dictated by how big a rise we might see in today’s US CPI report for May, as well as how the European Central Bank sees the current outlook for the economy in Europe over the next few months. US markets finished yesterday’s session on the back foot across the board, as investors geared up for…

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