Author: FX
UBS has published its updated forecasts for the Federal Open Market Committee (FOMC):Given the upside surprises to both payrolls and inflation, we now expect the Fed to wait a bit longer before cutting rates, making its first 25 basis point cut in June rather than in MayOur base case calls for one rate cut per quarter after that until the Fed Funds target range reaches 3.25~3.5%, in line with our estimate of the longer-run neutral ratewe believe that a wide range of outcomes is possible UBS analysts say that the Fed is in no rush to begin lowering interest rates,…
Share: Gold remains stable within the $2020-30 range following the Fed’s latest monetary policy insights. US Treasury yields and the Dollar show minimal reaction to Fed’s commitment to inflation targets. Market anticipates potential rate adjustments in June, after the release of the latest FOMC meeting minutes. Gold price is virtually unchanged after the US Federal Reserve (Fed) released January’s meeting minutes, which reassured market participants that the Fed is in no rush to cut rates in the near term. Even though that could be seen as “hawkish,” US Treasury bond yields remained within familiar levels at the release,…
We’re getting a parade of flash business surveys from the Euro area on Thursday! This event tends to be a euro mover so you better pay attention to what the markets are expecting and how they may influence short-term price action before working on any euro plays! Here are points you need to know if you’re planning on trading the event: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Will the U.S. dollar extend higher or begin to retreat? Request our Q1 USD trading forecast to find out! Recommended by Diego Colman Get Your Free USD Forecast Most Read: US Dollar Muted Ahead of Fed Minutes; Setups on EUR/USD, USD/JPY & USD/CADThe U.S. dollar (DXY index) sustained small losses in late afternoon trading in New York on Wednesday despite the advance in U.S. Treasury yields following the release of the minutes of the Jan. 30-31 FOMC conclave.According to the summarized record of the proceedings, policymakers felt it would be inappropriate to begin lowering interest rates until they had a…
Xcel Energy increases dividend by ~5% to $0.55 Source link
© Reuters. FILE PHOTO: A 3D printed oil barrels and oil pump jack are seen in front of displayed Chesapeake Energy logo in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Chesapeake Energy (NYSE:) said it would cut spending and output this year as it sees the market being “oversupplied”, causing the company’s shares to rise more than 7% on Wednesday. Gas prices fell 30% this year because a mild winter did not dent storage as much as expected amid lowered heating demand. The weakness was despite an Arctic freeze in January that briefly caused gas demand…
USDJPY moves to new session highsThe USDJPY is moving to new at session highs, and in the process as extended above the swing area between 149.70 and 150.158. Yields in the US have turned around and are now higher on the day. The two year yield is at 4.642% up 3.0 basis points. The 10 year yield is up 2.4 basis points at 4.30%. At 1 PM today, the U.S. Treasury will auction off 20-year notes. At 2 PM, the FOMC meeting minutes will be released.Looking at the 4-hour chart, the high price for the week reached 150.43. Getting above…
Share: More and more ECB representatives believe that the inflation beast will soon be tamed. Economists at Commerzbank analyze domestic inflationary pressure and the latest inflation surveys among companies and show that it is far too early to sound the all-clear. More companies are planning price increases again The significant fall in inflation rates in the Euro Area obviously gives the ECB hope that the sharp rise in consumer prices has been halted. However, a closer look at the price trends in Germany calls for caution here. This is because the decline in the inflation rate has so…
© Reuters. FILE PHOTO: Brazil’s President Luiz Inacio Lula da Silva addresses the opening of the 37th Ordinary Session of the Assembly of the African Union at the African Union Headquarters, in Addis Ababa, Ethiopia February 17, 2024. REUTERS/Stringer//File Photo By Simon Lewis BRASILIA (Reuters) – U.S. top diplomat Antony Blinken was meeting President Luiz Inacio Lula da Silva on Wednesday, amid a diplomatic spat after the Brazilian leader likened Israel’s war in Gaza to the Nazi genocide during World War Two. U.S. officials have said they expect Lula and Secretary of State Blinken to have a robust conversation on…
Once again, it’s been a rather dull session so far in European morning trade. Major currencies are not doing a whole lot, having little to work with in general this week. The dollar is steady on the day, trading near flat levels against the euro, yen, pound and loonie currently. Of note, USD/JPY continues to do a tango in and around the 150.00 mark this week:USD/JPY hourly chartThe lack of developments in the bond market isn’t helping with that regard as well. 10-year Treasury yields are down 1.5 bps to 4.26% now but remains pinned in between 4.20% and its…