The bond market reaction to CPI offers a clue a theme that’s likely to envelop all markets. US 2-year yields are up 10.7 basis points to 2.92%, breaking the April/May top. That’s a sign of a market that sees a growing likelihood we break the 3% level in Fed funds. In fact, the market is
Month: June 2022
Dollar rises strongly in early US session after CPI data. Headline inflation reaccelerated with strong rise in energy and food prices From this perspective, there is little scope for Fed to pause tightening in September. It might instead continue its 50bps per meeting plan for longer. The greenback is now the strongest one for the
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Monday he sees interest rate increases continuing through the rest of the year
In this article DOCU Dan Springer, chief executive officer at DocuSign. David Paul Morris | Bloomberg | Getty Images DocuSign shares fell as much as 24% in extended trading on Thursday after the electronic signature software vendor reported weaker-than-expected earnings in its fiscal first quarter. Here’s how the company did: Earnings: 38 cents per share,
Gold Price is extending a two-day bearish momentum on Friday. The US dollar reigns supreme as risk-aversion remains at full steam. XAUUSD appears vulnerable, with all eyes on next week’s Fed decision. Gold Price is trading with size-able losses on the final trading day of the week, as investors continue to seek refuge in
TOKYO: Oil prices fell on Friday but still hovered near three-month highs, with fears over new COVID-19 lockdown measures in Shanghai outweighing solid demand for fuels in the world’s top consumer United States. Brent crude futures for August was down $1.01, or 0.8%, at $122.06 a barrel as of 0141 GMT after a 0.4% decline
Nasdaq below 200 hour MA, tests 100 hour MA The NASDAQ index is trading down -245 points or -2.05% at 11840. That has now taken the price below its 200 hour moving average at 11889.18. It is approaching the 100 hour MA at 11827.13. A move below that MA would tilt the bias firmly n
The expectation will be for another 8.3% y/y reading in US consumer inflation today, with the core reading expected to drop a little from +6.2% y/y in April to +5.9% y/y in May. That said, these readings will still be extremely elevated. There’s plenty of talk about peak inflation and what not but once again,
Yen is recovering slightly in Asian session today, digesting recent steep selloff. The climax selling is temporarily past as focuses turn to ECB policy decision today and US CPI tomorrow. Euro is trading mixed for the moment, except versus Yen and Swiss Franc. To be specific, it’s range bound against Dollar, Sterling, Aussie and Canadian.
Treasury Secretary Janet Yellen emphasized that the White House has several strategies ready to go that will reduce an inflation burden she conceded is too high on Americans. In an interview Tuesday with CNBC’s Becky Quick, Yellen listed efforts aimed at prescription drug costs, the budget deficit and oil production that could bring down prices
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The NZD/USD slumps to fresh three-week lows, despite the RBNZ’s beginning of its QT program. US initial Jobless Claims rose more than expected, but market players are focused on US inflation data. The RBNZ will begin its Quantitative Tightening (QT) program at an NZ $5 billion rate. The New Zealand dollar slides for the fifth
The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities. Kwon was
Gold prices in the national capital on Thursday gained by Rs 133 to Rs 50,907 per 10 grams, supported by rupee depreciation, according to Securities. In the previous trade, the yellow metal settled at Rs 50,774 per 10 grams. Silver also jumped by Rs 273 to Rs 61,535 per kg from Rs 61,262 per kg
USDCAD moves through 38.2% and 200 day MA The run to the upside in the USDCAD has now moved through the next key upside target. That target included the 200 day moving average at 1.2659, and the 38.2% retracement of the move down from the May 25 high at 1.26571. Getting above those levels increase
The m Germanyajor European indices are all closing lower on the day. The declines are led by the German DAX which is down -1.7% and Italy’s FTSE MIB which is down by a similar amount. A look at the closing levels shows: German DAX, -247.19 points or -1.71% at 14198.81 France’s CAC -90.17 points or
Euro is attempting to rally after ECB surprisingly pre-commit to rate hikes in July and September. Germany 10-year yield also jumps to 1.45% in reaction. Commodity currencies turn slightly weaker on overall sluggish market sentiment. Dollar is mixed for now, and will need some fresh inspiration from tomorrow’s CPI release. Meanwhile, Yen continues to digest
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