ECB officials are expecting more rate hikes to tame inflation. Some experts say the US has lost its global growth leadership position. Markets are expecting a 25bps rate hike from the Bank of Canada. Most currency futures were up on Monday as the dollar was slightly weaker than a basket of currencies, trading at 101.740. Read More…
Data released on Wednesday revealed that US producer prices declined. Americans submitting new claims for unemployment benefits unexpectedly decreased. Permits for new construction in the US fell to a more than 2-1/2-year low. Gold dipped on Friday as the dollar strengthened. However, it was still on track to post a fifth straight weekly gain as Read More…
US retail sales fell by 1.1% last month, the largest drop since December 2021. US manufacturing output decreased more than forecast in December. US crude oil stockpiles increased by around 7.6 million barrels last week. The price of oil futures dropped by as much as $1 on Thursday due to concerns about the impending recession. Read More…
Wall Street’s top investment banks saw their financial fortunes diverge. Goldman’s fourth-quarter profit of $3.32 per share fell short of the Wall Street forecast of $5.48. The Bank of Japan maintained its ultra-easy monetary policy. Equities fell after Goldman Sachs reported disappointing profits. Wall Street’s top investment banks saw their financial fortunes diverge, with Morgan Read More…
China’s economy expanded by 2.9% in the fourth quarter of 2022. The BOJ is under pressure to alter its interest rate policy as soon as Wednesday. Services inflation in the United States will probably continue to rise annually. Equity losses grew on Tuesday as China published disappointing fourth-quarter economic results. Still, expectations for a strong Read More…
The US dollar index sank 0.46% to a seven-month low against a basket of currencies. Investors speculate that the Fed may be nearing the conclusion of its rate-hike cycle. There’s anticipation that the BOJ will change its ultra-loose policy. The dollar dropped to a seven-month low against key peers on Monday, allowing most currency futures Read More…
