The 2-10 year spread has not been positive since July 2022. The most recent high close (most narrow negative spread) is coming near -16 basis point. Today the spread rose to -27.3 basis point which would be its highest close since January 29. Since June 25, the spread has moved from -50 basis points to
Yesterday, the US CPI was a friendly number as it came in lower than expectations. Today, the PPI data was the exact opposite. The headline numbers for the month were not only higher, but the prior months were revised higher as well. The USD and yields move higher initially after the report, but the memory
A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates. The producer price index climbed 0.2% last month, the Labor Department’s Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones were expecting a 0.1% increase for the index.
Shares of Wells Fargo took a hit on Friday after the bank reported a beat on earnings but delivered softer guidance due to the uncertain economy and interest-rate environment. We see the drop as a chance to buy more shares. Total revenue for the three months ended June 30 ticked up less than 1% over
Motilal Oswal Financial Services forecasts a bullish outlook for silver, projecting prices to reach Rs 1,25,000 domestically within 12-15 months. Despite recent gains of over 30%, analysts anticipate periodic profit-taking, advising investors to capitalise on any significant dips in prices. Key support levels identified by Motilal are near Rs 86,000-86,500. The upward revision of price
Dollar is under some selling pressure in early US session despite stronger-than-expected PPI readings. However, downside momentum of the greenback is relatively limited. The post-CPI selloff yesterday did not gain significant traction, partly because stock markets unexpectedly retreated. Currently, futures are indicating a flat opening, and if activity in risk markets remains subdued in this
US Dollar continues losing ground in light of weak CPI figures and UoM data. Markets still foresee a September rate cut. Despite hot PPI data, US Treasury yields are falling, diminishing allure of USD. The US Dollar Index (DXY) remains weak on Friday, sitting at April lows. This is largely a response to the soft
The NZDUSD rallied toward the end of last week’s trading, after sellers had their shot on the break of both the 100/200 day MAs earlier in the week. The move higher initially extended to the 200 bar MA on the 4-hour chart, before correcting lower midweek. On Friday, buyers returned after the US jobs report
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Job seekers attends the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena on June 26, 2024 in Sunrise, Florida. Joe Raedle | Getty Images The unemployment rate for women in the white, Black and Hispanic racial groups rose in June in line with the overall trend, according to data released Friday by
The Samsung logo is on display at their pavilion during the Mobile World Congress in Barcelona, Spain, on February 28, 2024. (Photo by Joan Cros/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Shares of Samsung Electronics jumped to their highest level since January 2021 after the South Korean tech giant said it expects
Gold prices fell more than 1% on Monday, hurt by a risk-on rally in equities and profit-taking by investors after a sharp rally in the previous session over expectations that the U.S. Federal Reserve could cut interest rates in September. Spot gold was down 1.5% to $2,354.59 per ounce as of 12:01 p.m. ET (1601
Sterling strengthened broadly today, support by comments from Jonathan Haskel, a known hawk on BoE’s MPC. Haskel indicated his preference to maintain interest rates until there is clear evidence that inflationary pressures have subsided sustainably. This stance has introduced some uncertainty regarding the widely anticipated BoE rate cut in August. While many economists still expect
Dow Jones found early highs before settling back into the low end. New trading week kicks things off with a breather after Friday’s NFP. US consumer and wholesale inflation figures are due this week. The Dow Jones Industrial Average (DJIA) whipped on Monday, briefly testing fresh highs and breaking out of Friday’s tight churn before
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Fundamental Overview The USD yesterday weakened across the board following soft US Jobless Claims and ISM Services PMI reports. Overall, the data didn’t change much in terms of interest rates expectations, but it reinforced the view that the Fed is going to deliver at least two rate cuts by the end of the year. The
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
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