Author: FX
Earlier today Pres. Trump posted on Truth Social that Hamas had until Sunday at 6 PM to reach an agreement. He warned that if an agreement is not reached, “all HELL, like no one has ever seen before, will break out against Hamas”. Hamas is reported to have handed over its response to Trump’s Gaza plan to an the mediator. WIll it be enough? This article was written by Greg Michalowski at investinglive.com. Source link
Federal Reserve (Fed) Vice President and Board of Governors member Phillip Jefferson acknowledged that ongoing risks to both sides of the Fed’s policy mandates are seeing growing risks. The labor market is showing fresh weakness, and inflation pressures continue to mount in underlying datasets, leaving the Fed in a difficult spot on rate policy-setting.Key highlightsLess than ideal not to get jobs report, but look across array of data to assess the economy.Trends across several data series suggest job market softening, could experience stress if not supported.Decline in net immigration a major factor preventing more significant rise in unemployment.Both sides of…
Gold price advances during the North American session on Friday, up by 0.70% for the day as the US government shutdown extends to three days, poised to end the week positively for the seventh straight week. At the time of writing, XAU/USD trades at $3,882 after hitting a daily low of $3,838.XAU/USD extends weekly winning streak as lack of US data and Fed remarks keep traders leaning toward dovish betsThe US economic docket remains light, with the release of the Purchasing Managers Index (PMI) for September. Figures were mixed, as the Institute for Supply Management (ISM) revealed that the services…
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary pressures.Key highlightsTariffs have been contributing to inflation.I’m worried about non-housing services inflation that’s been elevated and stuck there.There are both upside and downside risks to my inflation outlook.If labor market were to slow more than anticipate, could see more disinflation than currently expect.The risks that tariff effects are more prolonged increase risk of rise in long-term inflation expectations.Stimulating demand when labor market is broadly…
Crude oil futures are settling up $0.40 or 0.66% and $60.88. The gains come in ahead of expectations OPEC will increase production.OPEC+ is widely expected to increase production, but the size of the hike is still being debated. Reports suggest the group may raise output in November by anywhere from ~140,000 barrels per day (Goldman Sachs estimate) to as much as 274,000–411,000 bpd. In September, OPEC already lifted production by about 330,000 bpd as it continues unwinding earlier cuts. Saudi Arabia is said to be pushing for more aggressive increases to regain market share, while Russia is taking a more…
The Australian Dollar (AUD) holds modest gains versus the US Dollar (USD) on Friday, supported by a weaker Greenback as the United States (US) government shutdown drags on and the ISM Services Purchasing Managers Index (PMI) softens.At the time of writing, the pair is changing hands near 0.6600, trimming earlier gains, still on track for its first weekly advance in three weeks. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is hovering near 97.72, just above the weekly low of 97.46.Earlier in the day, data from the Institute for Supply Management…
Jayud Global Logistics announces a 1-for-50 reverse stock split Source link
The Pound Sterling advances some 0.26% on Friday as the US government began its third day of shutdown and skipped the release of Nonfarm Payroll figures for September. Source link
The Euro (EUR) trades with a modest bid against the US Dollar (USD) on Friday, with EUR/USD stuck within this week’s range of 1.1750-1.1700. At the time of writing, the pair is trading around 1.1745, up about 0.22% on the day, as traders weigh the latest Eurozone and US PMI reports for clues on growth momentum and monetary policy outlook.The Greenback remains under pressure as the United States (US) government shutdown stretches into its third day, heightening concerns about near-term growth and fiscal stability. The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major…
The Pound Sterling (GBP) advances some 0.26% against the US Dollar (USD) on Friday as the US government began its third day of shutdown and skipped the release of Nonfarm Payroll figures for September. Purchasing Managers Index (PMI), data from S&P Global and ISM in the US, are the main drivers of price action. GBP/USD trades at 1.3471 at the time of writing after bouncing off daily lows of 1.3427.GBP/USD climbs as services PMIs flash slowdown signs, while Fed–BoE divergence underpins Sterling strengthBusiness activity in the US deteriorated, according to the ISM Services PMI. The Index dipped from 52 to…