Market movement today There are no market movers on the calendar today. This week we’ll focus on US data releases with the planned November jobs report, ISM services and the University of Michigan survey. We expect further cooling in non-farm payrolls on Friday to +140k and expect average hourly earnings to grow steadily at 0.2%. … Read more
A bank employee counts US dollar bills at Kasikornbank in Bangkok, Thailand, January 26, 2023. REUTERS/Athit Perawongmetha License Rights Powell says the risks of over- or under-tightening are now balanced The US manufacturing sector remains in contractionary territory Post-Powell US rate futures price with 62% chance of a March rate cut NEW YORK, Dec 1 … Read more
A bank employee counts US dollar bills at Kasikornbank in Bangkok, Thailand, January 26, 2023. REUTERS/Athit Perawongmetha License Rights Dollar index on track for worst monthly loss in year The dollar is set for its biggest monthly decline against the yen since February US new home sales fell more than expected in October US interest … Read more
Author: Rae Wee SINGAPORE, Nov 27 (Reuters) – The dollar started the final week of November on the back foot, while the pound held near a more than two-month high on an easing economic gloom in the United Kingdom as traders eyed fresh economic stimulus in the week ahead. determine the future development of monetary … Read more
OPEC decided to postpone this weekend’s meeting until next week as talks between the Saudi and African members apparently hit a snag. Saudi Arabia probably sensed in this week’s poor price action — “buy the fact that Saudi Arabia will double down on production cuts” — that another 1 mbpd cut is not sending oil … Read more
The previous week marked a significant shift in market sentiment regarding expectations of a Federal Reserve (Fed) rate hike. The latest Consumer Price Index (CPI) update revealed a slower-than-expected inflation rate in the US, along with politicians fending off a government shutdown. Despite these factors, the US 2-year yield tested 4.80% for a fourth time, … Read more
markets Until about a month ago, the market dynamics of earnings moved “standardly” higher on days when there were no relevant news for the market. A series of softer (or perceived soft) data has since caused the market to turn 180 degrees. The central bankers’ mantra of “higher for longer” has been shelved. The key … Read more
Market movement today Today’s US data is not one that usually moves the markets much: industrial production, the NAHB housing market index and the Philly Fed index for November. We saw a fairly strong rise in the Empire for the latter, but both the Empire and the Philly Fed are somewhat unreliable guides to the … Read more
Today’s market movers US CPI for October is the highlight of this week in terms of data releases. We expect core at 0.1m/m and core at 0.3% m/m in line with consensus, but with uncertainty stemming from the auto workers’ strike, which may have temporarily boosted car prices, as well as technical factors related to … Read more
[1/2]Japanese yen and U.S. dollar bills are seen in this picture taken March 10, 2023. REUTERS/Dado Ruvic/Illustrations/File Photo/File Photo License Rights Acquisition NEW YORK/LONDON, Nov 13 (Reuters) – The dollar climbed to its highest level in more than a year against the Japanese yen on Monday, near the key psychological level of 152, but then … Read more