Author: FX
> Feds Barkin:US central banks more gradual interest rate paths should limit harm to economy Central banks more gradual interest rate path should limit harm to the economyit makes sense for Fed to steer more deliberately on rates now in context of policy lagsstudies estimate it could take six – 12 months before pullbacks in demand quiet the rate of inflationlast two months of US inflation reports step in the right direction, however median stayed highFed is still resolute on inflation, needs to stay on the case until inflation sustainably back to 2% goalFed cannot repeat stop – start cycle…
McCarthy says that he expects to see some of the holdouts voting for him for speaker on FridayOne concession is for a $75B decline in defense spendingAs a reminder, the numbers show that McCarthy can only afford 4 votes against him to secure the Speaker of the House position. He had 20 against him over the last 2 days of voting. To watch, click on the link belowADVERTISEMENT – CONTINUE READING BELOW Source link
AUDUSD moves above the 200 day MAThe buyers have their second shot. Can they stay above this time?Looking at the daily chart, the price was moved above the 200 day moving average (before this week) was back in June 2022. During that time, the price closed above for one single day and back below the MA level the very next day. Prior to that, the price was back above the 200 day MA for more than one day on April 21. The high from Tuesday reached 0.68859. The high price from December reached 0.68928. The 50% retracement of the 2022…
Although analysts at Rabobank are forecasting that the DXY index could end the year a little lower, they expect that 2023 will provide plenty of opportunities for USD bulls to become re-engaged. They retain a 1-month forecast of EUR/USD 1.05 and a 3-month forecast of EUR/USD 1.03. Key quotes: “The first trading week of the year has already seen investors question some of the strongest themes of last month. Weaker European headline inflation data have raised questions about whether it will be necessary for the ECB to maintain the degree of hawkishness it displayed last month. By contrast, signs of…
© Reuters. Russian hacking underground newsletter is seen in this illustration taken, December 19, 2022 REUTERS/Dado Ruvic/Illustration By James Pearson and Christopher Bing LONDON/WASHINGTON (Reuters) – A Russian hacking team known as Cold River targeted three nuclear research laboratories in the United States this past summer, according to internet records reviewed by Reuters and five cyber security experts. Between August and September, as President Vladimir Putin indicated Russia would be willing to use nuclear weapons to defend its territory, Cold River targeted the Brookhaven (BNL), Argonne (ANL) and Lawrence Livermore National Laboratories (LLNL), according to internet records that showed the…
AUD/USD surged on weak US ISM Services data, which contracted to its lowest since 2020. The US economy added more jobs than estimated while wage growth eases, helping the Federal Reserve’s job to tame inflation. Fed policymakers reiterated the need to curb inflation, emphasizing that they will stay the course. The Australian Dollar (AUD) rallied against the US Dollar (USD) after the release of crucial economic data in the United States (US), although upbeat, failed to underpin the USD. Additionally, a services PMI survey dropped to contractionary territory, fueling speculations for a recession in the US. At the time of…
On the day:Stoxx 600 +1.1%German Dax +1.2%France’s CAC +1.4%UK’s FTSE 100 +0.9%Spain’s Ibex +1.0%Italy’s FTSE MIB +1.2%On the week:Stoxx 600 +4.5%German Dax +4.8%France’s CAC +5.85%UK’s FTSE 100 +3.3%Spain’s Ibex +6.1%Italy’s FTSE MIB +6.0%Have a look at the CAC 40 chart. It broke some resistance levels today to close at an 11-month high.ADVERTISEMENT – CONTINUE READING BELOW Source link
The ISM Service PMI for December released on Friday came in below expectations and triggered fears about a hard landing of the economy. Analysts at Wells Fargo forecast a recession is coming but they point out that this report does not market the start of it. Key quotes: “One unsettling takeaway from today’s services ISM report is that the service economy is joining the manufacturing side of the economy in contraction. The headline services ISM came in at 49.6, down 6.9 points. Setting aside the pandemic-induced drop, that ties the biggest monthly decline since the financial crisis in November 2008.”…
Atlanta Federal Reserve bank president Raphael Bostic said on Friday that how the economy evolves will shape what the Federal Reserve has to do, as reported by Reuters. Key takeaways “The US economy is definitely slowing.” “Housing and other interest rate sectors have seen significant slowing, business leaders see labor markets easing.” “It’s still not easy to find workers but it is easier.” “Slowing so far is at a steady, gradual pace, so demand-supply imbalance is not changing rapidly, process will take some time.” “The US has a lot of momentum to absorb tje Fed policy and avoid a significant…
How the economy evolves will shape what the Fed has to doHousing and other interest rate sectors have seen significant slowing, business leaders see labor markets easingStill not easy to find workers but it’s easier than it wasDemand-supply imbalance is not changing rapidly, process will take some timeExpect US GDP at 1% for 2023Signs that things are moving in a positive direction on inflationThe US has a lot of momentum to absorb Fed policy and avoid a significant contractionThese comments lean hard into the idea of a soft landing.ADVERTISEMENT – CONTINUE READING BELOW Source link