Fed's Daly: Cooling Inflation May Warrant One or Two Rate Cuts in 2024
San Francisco Federal Reserve Bank President Mary Daly has indicated that recent cooler inflation readings are encouraging, and she anticipates further easing in both price pressures and the labor market to justify interest rate cuts. While Daly sees it as likely that policy adjustments will be warranted, she remains uncertain about the exact timing. She […]
Zelensky Admits: Can ‘Never’ Get Enough Weapons From West
Zelensky Admits: Can ‘Never’ Get Enough Weapons From West Ukrainian President Volodymyr Zelensky while attending the annual NATO summit in Washington as a special guest has admitted that from Kiev’s point of view, it can never get enough weapons from the West. He said Tuesday night at a side event to the NATO forum that […]
Gold Nears Record High as Inflation Report Boosts Rate Cut Odds
The June 2024 inflation report, showing a decrease to 3% year-over-year, has significantly increased market expectations for Federal Reserve interest rate cuts. This data has led to a surge in rate cut bets, with the probability of a September cut rising to 91%. As a result, investors are flocking to interest-rate-sensitive assets, including Treasury bonds, […]
“Stubbornly Subdued” – UMich Sentiment Slumps As Home-Buying Conditions Hit Record-Low
“Stubbornly Subdued” – UMich Sentiment Slumps As Home-Buying Conditions Hit Record-Low UMich consumer sentiment slumped in preliminary July data with Current Conditions at their lowest since Dec 2022… Source: Bloomberg UMich Director Joanne Hsu warned: “Although sentiment is more than 30% above the trough from June 2022, it remains stubbornly subdued.“ “Nearly half of […]
Silver Soars 2% on 'Double Bottom' Breakout, Eyes YTD Highs
Silver prices have surged over 2%, breaking through key resistance levels and confirming a ‘double bottom’ chart pattern. This bullish momentum, fueled by weaker-than-expected US inflation data, has pushed the XAG/USD to $31.40, a six-week high. The breakout above the $30.73 neckline has opened the door for further gains, with potential targets at $31.75, $32.00, […]
Fed Chair Powell: Labor Market 'Fully Back in Balance'
Federal Reserve Chair Jerome Powell has declared that the U.S. labor market has achieved balance, marking a significant shift from the past three years when a tight job market was cited as a reason for maintaining high interest rates. This change in stance suggests that the Fed no longer views the labor market as a […]
Yen keeps markets on edge, data points to BOJ intervention
The yen steadied on Friday, a day after the Bank of Japan likely intervened to prop up the currency, on the coat-tails of an unexpected drop in U.S. consumer prices that fuelled the largest drop in the dollar since May. Daily operations data from the BOJ on Friday suggested the central bank had spent between […]
Most Voters Want Biden To Step Down, Oldest Voters Least Concerned
Most Voters Want Biden To Step Down, Oldest Voters Least Concerned Authored by Garbiella Fine via RealClearPolitics.com, The 2024 presidential campaign is now enmeshed in skepticism about Joe Biden’s mental acuity. Some 51 million Americans watched the president go one-on-one with Donald Trump in the June 27 presidential debate, which immediately ignited questions about the […]
Cheap Trips to Costly Getaways: The Potential Impact of Fed Rate Cuts on U.S. Travelers
The potential interest rate cuts by the Federal Reserve could lead to a weaker U.S. dollar, potentially making future international travel more expensive for Americans. This is because interest rates and currency strength are closely linked, with higher rates typically supporting a stronger dollar. As the Fed signals possible rate cuts in 2024 and 2025, […]
After Dumping $22 Billion Overnight, Is The BoJ Intervening Again In USDJPY?
After Dumping $22 Billion Overnight, Is The BoJ Intervening Again In USDJPY? Mrs Watanabe will not be best pleased again this morning as it appears – having dumped billions of dollars into the FX markets overnight to try and maintain the momentum higher in yen – the Bank of Japan is ‘intervening’ in the currency […]