Author: FX
Fundamental OverviewYesterday, around 1:00 PM ET, WSJ’s Timiraos published an article which seemed like suggesting that a 50 bps cut is still being discussed. The market responded by raising 50 bps cut probabilities to around 43% from 13% before the news. Nick Timiraos is considered a Fed “insider”, so the market is attentive to all of his pieces concerning potential Fed decisions.The probabilities for the Fed to cut by 50 bps at the upcoming meeting stand now around 43% and a total of 115 bps of easing by year-end. For the BoJ, the market sees a 100% probability of no…
The Pound Sterling climbs to near 1.3150 against the US Dollar as traders raise bets for a Fed 50 bps interest rate cut for next week’s meeting. Slowed US annual PPI for August prompted the Fed’s sizable rate cut prospects. Investors expect that the BoE is unlikely to cut interest rates next week. The Pound Sterling (GBP) extends its recovery to nearly 1.3150 against the US Dollar (USD) in Friday’s London session. The GBP/USD pair gains as the US Dollar (USD) falls sharply after the United States (US) Producer Price Index (PPI) data for August prompted market expectations for the…
(Reuters) -The casino commission in Australia’s biggest state said on Friday it may cancel Star Entertainment’s Sydney licence or fine it up to A$100 million ($67.2 million) after an inquiry found breaches of anti-money laundering protocols. The New South Wales Independent Casino Commission (NICC) has served the casino giant a disciplinary notice that relates to four significant breaches detailed in a second report released on Aug. 30. Star is currently “considering the matters raised in the notice” and expects to respond to the regulator by Sept. 27, the casino operator said in a separate statement. “The NICC has also requested…
Are my eyes deceiving me or is this a reversal pattern forming on silver’s 4-hour time frame? I’m seeing what appears to be a complex double bottom or what could be an inverted head and shoulders formation. In any case, check out this resistance zone being tested! Silver (XAG/USD) 4-hour Chart by TradingView While its fellow precious metal gold has already hit fresh all-time highs this week, silver still seems to be struggling to break above this strong ceiling near the $30.000 psychological mark. This happens to be the neckline of a sketchy reversal pattern on its 4-hour time frame,…
It was a risk-on day for financial markets, as crude oil closed out with nearly a 3% win while gold hit fresh record highs. U.S. stock traders also had a blast, as the S&P and Nasdaq chalked up their fourth consecutive day in the green. Check out the latest headlines! Headlines: Japan’s producer price index slowed from 3.0% year-on-year in July to 2.5% in August vs. 2.8% forecast Japanese BSI manufacturing index improved from -1.0 to +4.5 vs. +2.5 forecast in August Australia’s August MI inflation expectations dipped from 4.5% to 4.4% for the next 12 months ECB lowered main…
Dudley was president and chief executive officer of the Federal Reserve Bank of New York from January 27, 2009, through to 2018. He also served as the vice chairman and was a permanent member of the Federal Open Market Committee (FOMC).I think there’s a strong case for 50, whether they’re going to do it or not,” he said at the Bretton Woods Committee’s annual Future of Finance Forum in Singapore. Dudley had previously called for the Fed to begin cutting in July. The 50bp cut hype has caught fire in Asia time:Pricing for a 50bp FOMC rate cut has firmed…
European Central Bank (ECB) policymakers announced their unanimous decision to lower their main deposit rate by 0.25% as expected, following its previous cut in June. The central bank cut its deposit facility rate from 3.75% to 3.50% and its main refinancing rate from 4.25% to 3.65%, citing weaker growth prospects due to slower private consumption and investment activity. Link to ECB September Monetary Policy Statement Updated economic projections featured slight downgrades to growth estimates at just 0.8% this year and 1.3% next year compared to the 0.9% and 1.4% forecasts back in June. Meanwhile, estimates for headline inflation remained unchanged…
On Friday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1030, as against the previous day’s fix of 7.1214 and 7.1048 Reuters estimates. Source link
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By Jason Lange WASHINGTON (Reuters) -Democratic U.S. Vice President Kamala Harris leads Republican Donald Trump 47% to 42% in the race to win the Nov. 5 presidential election, increasing her advantage after a debate against the former president that voters largely think she won, according to a Reuters/Ipsos poll that closed on Thursday. The two-day poll showed Harris with a five percentage point lead among registered voters, just above the four-point advantage she had over Trump in an Aug. 21-28 Reuters/Ipsos poll. Among voters who said they had heard at least something about Tuesday’s debate, 53% said Harris won and…