Author: FX
The rating downgrade of the United States reflects the expected fiscal deterioration over the next three yearsCites repeated debt limit standoffs and last-minute resolutionsIn Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 yearsWe expect the general government deficit to rise to 6.3% of GDP in 2023, from 3.7% in 2022Fitch forecasts a GG deficit of 6.6% of GDP in 2024 and a further widening to 6.9% of GDP in 2025The interest-to-revenue ratio is expected to reach 10% by 2025 (compared to 2.8% for the ‘AA’ median and 1% for the ‘AAA’ median)…
Share: The GBP weakened on Tuesday against the USD as the Greenback gained ground against most of its rivals. Ahead of Thursday’s Bank of England (BoE) decision, the weak British made the GBP lose interest while markets await key labour data from the US. Economic data reported on the session from the US came in weak, but the DXY index hold gains above 102.00. Read More… The Pound Sterling (GBP) delivers a perpendicular fall as investors remain cautious ahead of the interest rate decision by the Bank of England (BoE), which will be announced on Thursday. The GBP/USD pair fails to discover…
Phillips 66 Q2 2023 Earnings Preview Source link
US DOLLAR FORECASTThe U.S. dollar, as measured by the DXY index, continues its impressive rebound, gaining strength from the surge in U.S. Treasury ratesThe rise in bond yields has a positive impact on USD/JPY, propelling the currency pair to its highest levels in almost four weeks.Market focus remains on the highly anticipated U.S. jobs report, which is scheduled to be released later in the week. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: S&P 500, Nasdaq 100 Forecast – Apple and Amazon Earnings Eyed…
The BOE decision is comin’ right up! Are they in for a “dovish hike” like some of their central bank peers? Here’s what the U.K. central bank might have up its sleeve and how pound pairs might react. Event in Focus: Bank of England Monetary Policy Statement for August 2023 When Will it Be Released: August 3, Thursday: 11:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: BOE to hike interest rates by 0.25% from 5.00% to 5.25% MPC to vote 7-2 in favor of tightening vs. holding No change to…
Prior month 9.824M (lower than the 9.935M estimate). Prior month revise to 9.616MJob Openings 9.582M vs 9.610M estimateThe rate of job openings was also unchanged at 5.8%.The number of hires in June decreased to 5.9 million (-326,000), while the hire rate was little changed at 3.8%. The decrease in hires was seen in durable goods manufacturing (-54,000) and finance and insurance (-54,000)Total separations, including quits, layoffs and discharges, and other separations, decreased in June to 5.6 million (-288,000). The rate of separations was little changed at 3.6%The number of quits decreased to 3.8 million (-295,000) and the quit rate to…
Share: The USD is trading firmer overall. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes Greenback’s outlook. DXY resistance sits at 102.50 Last week’s squeeze higher in the USD around Thursday’s ECB policy decision had paved the way for the USD to strengthen a little more and investors sense a stronger USD is the path of least resistance right now. I still rather feel that short term gains in the DXY will give way to renewed losses in the longer run but there is clearly decent momentum developing under the USD rebound here. DXY resistance sits at 102.50.…
Gold Price (XAU/USD), Silver Price (XAG/USD) Analysis, Price, and ChartGold’s volatility touches a multi-month low.Silver struggling to hold a prior level of resistance turned support. Recommended by Nick Cawley Get Your Free Gold Forecast Financial markets are in the middle of a holiday-thinned trading lull with volume and volatility suffering. Later on this week, there are a few potential market-moving events and data releases. On Thursday the latest look at US ISM services will need to be followed, while a host of big-name US earnings releases will be announced after the stock market closes on the same day. Amazon and…
Jui-Chi Chan/iStock via Getty Images The Macau Gaming Inspection and Coordination Bureau reported gross gaming revenue in the gambling region rose 4,086% year-over-year in July to $16.6B patacas ($2.07B) against a soft comparable to last year when travel restrictions were in place for several weeks. The consensus-topping tally also represented a 9.6% increase from June and was the highest since the pandemic, although it still fell about 30% below the pre-pandemic level of gross gaming revenue in July of 2019. For the first seven months of 2023, Macau gross gaming revenue was up 263% year-over-year to $96.80B patacas. The return…
(Reuters) – It only takes just a fraction of a second to suffer a pretty serious burn. Asphalt and concrete in direct sunlight can often reach surface temperatures as high as 82 Celsius (180 Fahrenheit) on the hottest days, said Dr. Kevin Foster, who directs the Arizona Burn Center in Phoenix. Forecasters predict another heat wave in Phoenix this week after the U.S. National Weather Service declared the city had sweltered under high temperatures above 43°C (115°F) for 30 consecutive days in July. Across Europe, high temperature records have tumbled this summer and major heat waves in much of the…