Author: FX
Data from Japan for July 2023 shows real (that is, inflation-adjusted) wages and household spending both fell. Gotta be a PhD in there somewhere on that relationship, yeah? Or maybe Captain Obvious has it already. July total cash earning +1.3% y/y (prior +2.3%)real wages -2.5% y/yovertime pay +0.5% y/yOverall household spending -5% y/y (prior -4.2%)—USD/JPY update:Still to come from Japan is the revised Q2 GDP reading: Source link
“The significantly lower inflation in recent months is encouraging. But lower inflation isn’t necessarily low-enough inflation,” Dallas Fed President Lorie Logan said Thursday in a speech.. That means that Federal Reserve officials have to ask whether its current policy rate is restrictive enough to bring inflation all the way down to 2%. “Forecasts are inherently uncertain. My base case, though, is that there is work left to do,” she said, according to prepared text of the speech. While the headline monthly inflation rate has been at ~2.5% in the past couple of months, other measures that strip out volatile food…
Share: AUD/USD trades flat at 0.6375 as Australia posts a trade surplus of A$8 billion in July, missing estimates and sparking risk-off sentiment. US jobless claims of 216K beat estimates, reinforcing the Fed’s ‘higher for longer’ stance and putting downward pressure on AUD/USD. Traders eye upcoming economic indicators from Australia and the US, including Westpac Consumer Confidence and US inflation figures. The Aussie Dollar (AUD) pared its losses versus the US Dollar (USD) on Thursday after US economic data showed the US Federal Reserve (Fed) work is far from done, while weakness in China’s exports weighed the market…
The Toro Company signs retail partnership with Lowe’s Companies Source link
Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter JAPANESE YEN FORECAST – USD/JPY TECHNICAL ANALYSISUSD/JPY rallied and rose to its highest level since November 2022 earlier in the week, but began to retreat after failing to clear channel resistance in the 147.85 area. Despite this setback, it’s essential to note that the pair remains in a solid uptrend, characterized by a consistent pattern of higher highs and higher lows.Although USD/JPY’s prevailing bias remains constructive, there is a possibility that the price could enter a consolidation phase…
The United Kingdom’s Financial Conduct Authority, or FCA, has reiterated its warning for all crypto asset firms marketing to users in the country to be in compliance with rules going into effect in October 2023, but added companies could have “more time to implement certain changes.” In a Sept. 7 notice, the FCA said crypto firms operating in the U.K. could have until Jan. 8, 2024 to address technical issues related to its financial promotions regime if granted approval. The financial watchdog announced the rules aimed at curbing aggressive marketing by crypto firms in June, saying that companies would have…
GOLD PRICE FORECASTGold prices lack direction, languishing near the lowest level since August 29, as traders await new dataThe August U.S. inflation report, due for release next Wednesday, may be an important catalyst for precious metalsThis article looks at key XAU/USD’s technical levels that may come into play in the near term Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Canadian Dollar Outlook: USD/CAD on Cusp of Breakout Despite BoC’s Hawkish HoldGold prices (XAU/USD) struggled for direction on Thursday, moving between small gains and losses near the $1,920 level, in a session characterized by limited volatility in…
Adriana KuglerThe latest member of the Federal Reserve’s board of governors is Adriana Kugler, a 53-year-old Colombian-American. She was a professor of public policy at Georgetown University’s McCourt School of Public Policy and formerly chief economist at the department of labour. She studied at McGill University in Montreal, then at the University of California at Berkeley, where one of her advisors was George Akerlof, the husband of Janet Yellen.The focus of her research has been on the labor market, healthcare policy, immigration and economic development.”An important part of my work focuses on cost-benefit analyses, which inform how to best spend…
US Stocks (SPX, NDX) News and AnalysisS&P 500 Gaps Lower at the Start of US TradingThe S&P 500 started the day on the back foot, gapping lower at the open after what is shaping up to be a tough week for stocks. Hotter-than-expected US data initially posed the challenge for US equities, as markets viewed this as a sign that Powell will be forced to keep rates higher for longer, propping up the dollar and US yields while weighing on riskier stocks.The index struggled to retest the longer-term trendline resistance and the 2023 high at 4607, trading sharply lower since…
Share: The Pound Sterling faces significant pressure as the BoE appears to be reluctant to raise interest rates further. BoE Swati Dhingra said that the current interest rate policy is sufficiently restrictive. The UK services sector shrinks after six months of expansion as consumer spending weakens. The Pound Sterling (GBP) cracked significantly amid increasing risk-aversion and dovish remarks from Bank of England (BoE) Governor Andrew Bailey and policymaker Swati Dhingra about September’s monetary policy decision. The GBP/USD pair is expected to remain on tenterhooks as policy divergence between the BoE and the Federal Reserve (Fed) is likely to…