Gold prices rise, record highs close as CPI data fuels rate cut bets – Investing.com
Investing.com — Gold prices rose in Asian markets on Thursday, hovering near record highs as weaker-than-expected U.S. consumer price data raised hopes the Federal Reserve will start cutting interest rates. Rising risk appetite also capped gains in gold prices, while a monthly rise in inflation led traders to expect a smaller rate cut in September. […]
Reserve Bank of New Zealand cuts cash rate by 25 basis points – CNBC
A security guard stands at the main entrance of the Reserve Bank of New Zealand in downtown Wellington, New Zealand on July 3, 2017. David Gray | Reuters The Reserve Bank of New Zealand cut its benchmark interest rate by 25 basis points to 5.25% on Wednesday. The move surprised economists polled by Reuters, who […]
Pound Sterling posts fresh weekly high on lower UK jobless rate and soft US PPI – FXStreet
The pound surged against the US dollar on strong UK employment figures and a weak US producer price index. The UK unemployment rate unexpectedly fell to 4.2% and average incomes rose more than expected. Investors are awaiting UK and US inflation data for July, due on Wednesday. During North American trading hours on Tuesday, the […]
Only 1 in 4 Voters Rate Economy ‘Excellent’ or ‘Good’ Under Biden-Harris Admin Policies
President Joe Biden and Vice President Kamala Harris did not receive positive marks for their management of the economy. Financial Times A poll from the University of Michigan Ross School of Business released Monday found that a majority want reform. While only one in four voters rated the economy as “very good” or “good” under […]
Immigrants Gaining U.S. Citizenship at Fastest Rate in a Decade
The federal government is approving U.S. citizenship applications at the fastest pace in a decade, clearing a backlog caused by the COVID-19 pandemic and a strict approval system that reached its climax under former President Donald Trump, the government said in a report on Tuesday. Naturalization ceremonies are often held in large numbers before elections, […]
Dollar tenses for data verdict on rate cut risks – Yahoo Finance
By Wayne Cole SYDNEY (Reuters) – The dollar was volatile on Tuesday as investors waited to see how U.S. economic data might affect the chances of a bigger interest rate cut, while gains in Japanese shares helped stem losses in the yen carry trade. The dollar briefly hit a one-week high of 148.23 yen overnight […]
Fed will steer clear of jumbo rate cut despite mounting pressure: survey
A new survey finds that most economists believe the Federal Reserve will make a small cut to its benchmark interest rate, rather than the larger cuts that some of Wall Street’s biggest banks are calling for. Nearly four in five economists He told Bloomberg News They expect the Fed to cut interest rates by a […]
Goldman Sachs CEO David Solomon predicts Federal reserve won’t make emergency rate cuts
Goldman Sachs CEO David Solomon said the Federal Reserve will not make an emergency interest rate cut before the central bank’s September meeting, despite Monday’s Wall Street sell-off over growing recession risks. “I don’t think we’ll see anything by September.” Solomon said in an interview on Bloomberg’s “The David Rubenstein Show: Peer-to-Peer Conversations.” Goldman Sachs […]
There’s No Emergency Rate Cut Coming
Stop trying to get emergency rate cuts done! The combination of a sharp drop in global stock markets on Monday and disappointing employment data on Friday The Federal Reserve is Far Behind Again Interest rates will need to be cut sharply and quickly to avoid a sharp economic downturn. Wharton’s Jeremy Siegel on monday reach […]
Investors raise the odds of a 50-basis point Fed rate cut in September
Jeff Sica of Circle Squared Alternative Investments weighed in on the market sell-off, arguing that the problem lies in the credit markets. Concerns about an impending recession have led some Wall Street economists to Federal Reserve It is likely to approve an unusually large interest rate cut at its next policy meeting in September. A […]