Dollar steadies as Sept rate cut back in focus, yen wobbles By Reuters – Investing.com
Ankur Banerjee SINGAPORE (Reuters) – The dollar edged up from a five-week low on Tuesday as investors weighed the possibility of a September interest rate cut following comments from Federal Reserve Chairman Jerome Powell and pondered the growing chances of former U.S. President Donald Trump being re-elected. The Japanese yen came under pressure again as […]
UK grocery inflation falls to 1.6%; Fed chair Powell hints at US rate cuts – business live | Business
Important Events Julia Korewe The water regulator in England and Wales is taking action against four more water companies, including Severn Trent and United Utilities, over sewage spills, just days after they were accused of “disrespecting” customers over recent water price increases. Ofwat said it had issued formal notice. Dwy Cymru Welsh Water, Hafren Dyfdwy, […]
No Rate Cut in July—It’s Too Soon
Goldman Sachs’ economics chief argues for rate cut in July There was brief interest Monday morning in the idea that the Federal Reserve might cut interest rates at its July meeting. Federal Reserve Chairman Jerome Powell effectively rejected the idea. Monday afternoon. Jan Hatzius, chief economist and head of global investment research at Goldman Sachs, […]
Gold prices steady above $2,400 as soft CPI data fuels rate cut bets – Investing.com
Investing.com — Gold prices were slightly lower in Asian markets on Friday but were still up sharply from the previous day’s trading after weaker-than-expected U.S. inflation data strengthened expectations of a rate cut in September. Gold prices benefited from a sharp drop in the dollar on Thursday, breaking through the closely watched $2,400 an ounce […]
Asian stocks sink as tech profit-taking overshadows rate cut cheer – Investing.com
Investing.com — Most Asian stocks fell on Friday, with tech-heavy indexes dropping sharply as profit-taking hurt technology shares despite a weak U.S. inflation reading that boosted optimism for interest rate cuts. Regional stocks largely tracked Wall Street’s overnight decline, falling nearly 2 percent as profit-taking hit big technology stocks, especially chipmakers and artificial intelligence stocks. […]
A September Rate Cut Would Trigger Political Vengeance
When inflation falls, markets soar As someone once said, if the Fed has a reactive function, The market has an overreaction function. Evidence of this was apparent on Thursday when the Bureau of Labor Statistics released its June Consumer Price Index (CPI), which showed it had fallen for the first time since May 2020. Consumer […]
Gold prices advance, rate cuts in focus as CPI data looms – Investing.com
Investing.com — Gold prices rose in Asian markets on Thursday, helped by a decline in the dollar and Treasury yields on growing expectations of a U.S. interest rate cut ahead of the release of a key inflation reading. Gold edged higher this week, buoyed by reports that emerging market central banks are stockpiling the metal, […]
California Dems Touted Decline In Violent Blue City’s Crime Rate. But The Data Isn’t What It Seems
Top California Democrats have claimed crime has fallen in Oakland, one of the state’s notoriously crime-ridden cities, but the numbers they cited were deeply flawed in their reporting, the San Francisco Chronicle reported Wednesday. California Governor Gavin Newsom touted a 33% overall drop in crime in Oakland. June Auckland Mayor Shen Tao also stated in […]
‘more good data’ would boost case for rate cuts
Federal Reserve Chairman Jerome Powell told Congress that the U.S. economy is “no longer overheating” and that the job market has “cooled significantly” from pandemic-era extremes and is in many ways back to where it was before the health crisis, suggesting the case for lowering interest rates is strengthening. “We’re well aware that we now […]
Fed’s Powell says more ‘good’ inflation data would bolster case for rate cuts
Strategas’ Jason Trenerth says it’s hard not to get involved in the stock market on “Maria Bartiromo’s Wall Street.” Chairman of the Federal Reserve System Jerome Powell He said Tuesday that policymakers were encouraged by recent data suggesting inflation was receding, and continued progress would strengthen the case for cutting interest rates. “The data for […]