Author: FX

Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but revised its outlook on the more hawkish side. In fact, the Fed not only sees another rate hike by the end of the year but also much less rate cuts in 2024 as they revised it from 4.6% seen in June to 5.1% now. The macroeconomic projections were also revised higher indicating a resilient economy. In the press conference Fed Chair Powell reaffirmed their data dependency and the need to move carefully as they approach the terminal rate. One thing that caught everyone by surprise is when asked…

Share: Asian equities trade in negative territory after the Federal Reserve (Fed) held the interest rate unchanged. Bank of Japan (BoJ) is expected to maintain monetary policy on Friday. Central bank officials in the Philippines and Indonesia will announce monetary policy decisions. Asian stocks trade lower on Thursday amid the higher-for-longer interest rate narrative in the US following the Federal Reserve (Fed) meeting.At press time, China’s Shanghai is down 0.59% to 3,090, the Shenzhen Component Index declines 0.71% to 10,001. South Korea’s KOSPI, Hong Kong’s Hang Seng, and the Nikkei 225 are the worst performers for the day.…

The Federal Reserve (Fed) kept rates on hold (5.25%-5.5%) at its latest meeting, but delivered a hawkish hold as what markets were anticipating – or rather, more hawkish. The Fed’s dot plot left the door open for one more rate hike by the end of this year as before, but were only looking for two rate cuts in 2024, down from the previous four rate cuts forecasted in June. Similarly, Fed funds rate in 2025 was forecasted to end at 3.9%, higher than the previous 3.4% forecast.That leaves a high-for-longer rate outlook as the clear takeaway, which called for a…

© Reuters. The Hernandez family, Venezuelan migrants seeking asylum in the U.S. who were not received for the appointment they got using the U.S.Customs and Border Protection (CBP) CBP One application, walk next to the border wall after crossing the Rio Bravo river By Ted Hesson WASHINGTON (Reuters) -The U.S. will grant temporary deportation relief and access to work permits to nearly half a million Venezuelans already in the country, U.S. officials said on Wednesday, a move that follows calls by Democrats to help newly arrived migrants work legally. About 472,000 Venezuelans in the U.S. on or before July 31…

fokkebok The Biden administration unveiled an “action plan” Tuesday for U.S. offshore wind development intended to “catalyze offshore wind energy, strengthen the domestic supply chain, and create good-paying, union jobs.” The plan, jointly announced by the Department of Energy and Department of the Interior, outlines immediate actions needed to connect the first generation of Atlantic offshore wind projects with power grids, and longer-term efforts to support needed transmission over the coming decades. The plan is part of efforts of the Biden administration to deploy 30 GW of offshore wind in the U.S. by 2030. Since 2021, the U.S. has approved…

Mediated talks between Chevron and Unions over disputes that have disrupted operations across 3 LNG sites in Western Australia:Wheatstone offshore gas platformGorgon and Wheatstone LNG plants have ended with no deal.The next step will be taken today, with the opposing sides heading to a Fair Work Commission hearing.The case is expected to take more than a week. The facilities account for around 7% of global LNG supply. Wheatstone Source link

Share: WTI testing into $89.00 as markets take a step back after the Fed gave their latest rate call. Fed kept rates at 5.5%, but updated their rate outlook. US Oil easing back after supply constraint worries sent crude roaring. West Texas Intermediary (WTI) has rallied recently, closing in the green for ten of the past twelve consecutive trading weeks and notching in over a 30% gain on the period. Global crude oil supplies are facing down a continuous drawdown in reserve supplies after Saudi Arabia and Russia both announced that they would be extending their ongoing crude…

Gold just flew to the moon and back! What a wild roller coaster ride but traders are likely wondering what’s next for the precious metal.  More bearish momentum ahead or will the technical area draw in buyers once again? Gold (XAU/USD) 1-hour Chart by TradingView In the world of trading, imagine the gold market on the 1-hour chart as a high-stakes poker game. Gold bulls just made a bold move after bouncing off a critical broken resistance-turned-support area around the $1930 handle, likely driven by speculation of a possible announcement that the peak in the interest rate hike cycle is…

Workiva rises as Baird impressed by investor day announcements Source link

Heads up, franc traders! Tomorrow, the Swiss National Bank is set to unveil its latest interest rate decision, with expectations that they may raise interest rates once more. For those considering making moves on the Swiss franc on the event, here are the key points to keep in mind before working on your risk management strategy: Event in Focus: Swiss National Bank (SNB) Monetary Policy Statement When Will it Be Released: September 21, Thursday: 7:30 am GMT SNB Chairperson Thomas Jordan will hold a press conference after the announcement. Use our Forex Market Hours tool to convert GMT to your local…