Currency futures rose on Friday on dollar weakness as soft consumer inflation figures overshadowed an increase in wholesale inflation. Investors focused on the higher likelihood of a Fed rate cut in September. US producer prices (Source: US Bureau of Labor Statistics) On Friday, the US Producer Price Index report revealed that inflation increased by 0.2% Read More…
Interest futures surged on Thursday as Treasury yields plunged after a downbeat US inflation report led to an increase in Fed rate cut expectations. The prospect for lower borrowing costs boosted demand for US government debt. For some weeks now, data from the US has shown weaker economic demand. Consequently, investors have raised bets that Read More…
Oil prices rose on Wednesday due to a larger-than-expected fall in US crude inventories last week. Meanwhile, investors were positioning themselves for the US inflation report after Powell’s cautious remarks. Data from the Energy and Information Administration on Wednesday showed that US inventories dropped by 3.4 million barrels. Meanwhile, economists had expected a 1.3 million Read More…
Gold prices edged higher on Tuesday despite a surge in the dollar and Treasury yields after Fed Chair Powell’s hawkish speech. Meanwhile, investors were preparing for the US inflation report coming on Thursday for clues on Fed rate cuts. Gold (Source: Bloomberg) Last week, gold reached the highest level since May as the US nonfarm Read More…
Equities closed at record highs on Monday as investors looked forward to several key events, including Powell’s testimony. The Nasdaq and the S&P 500 extended Friday’s rally when the US jobs report raised the chances of a Fed rate cut in September. The market has more rate-cut optimism as economic reports consistently show a slowdown Read More…
Currency futures edged higher on Friday as the dollar fell after the US monthly employment report. However, some outliers, like the Canadian dollar, plunged after poor Canadian employment figures. US job market (Source: Bureau of Labor Statistics) The greenback eased on Friday when the nonfarm payrolls report revealed fewer jobs added in June. Employment increased Read More…
Interest futures surged Wednesday as Treasury yields fell with the dollar after a series of poor US economic reports. Meanwhile, markets remained closed on Thursday as the US observed Independence Day. Data on Wednesday revealed that private employment dropped in June when economists had expected an increase. The ADP employment figures showed that 150,000 more Read More…
Oil prices rose nearly 1% on Wednesday after a bigger-than-expected decline in crude inventories, indicating robust demand. At the same time, weak data from the US raised the likelihood of a Fed cut in September, which would increase fuel consumption. Oil and crude inventories (Source: Nymex, EIA) The Energy and Information Administration reported that crude Read More…
Gold prices fell on Tuesday as high Treasury yields reduced demand for the yellow metal. This overshadowed slightly dovish remarks from Fed Chair Powell. At the same time, employment data showed continued resilience in the US labor market. Treasury yields remained elevated on Tuesday after a rally in the previous session. The 10-year yield rose Read More…
Equities rose on Monday due to a boost from technology stocks. At the same time, investors were preparing for major US economic reports shaping the outlook for rate cuts. Meanwhile, data from the US painted a picture of a weaker economy that could pressure the Fed to start implementing rate cuts. Shares of major tech Read More…
