Gold falls below $2,500 following US PCE report, boosting likelihood of September Fed rate cut. Fed’s cautious policy easing strategy stirs uncertainty; markets favor a 25 bps cut. Traders’ bets on a 25 bps rate cut rise to 69%; odds for a 50 bps reduction fall to 31%, per CME FedWatch Tool. Gold prices tumbled…
Newsquawk.com Week Ahead: Highlights include US NFP & ISMs; BoC rate decision, Canada jobs; Australian GDP and Swiss CPI MON: US & Canada (Labor Day), EZ & UK Final Manufacturing PMIs (Aug), Chinese Caixin Manufacturing PMI Final (Aug) TUE: Swiss CPI (Aug), Swiss GDP (Q2), Turkish CPI (Aug), US ISM Manufacturing PMI (Aug), Final Manufacturing…
Gold prices climb despite upbeat US Q2 GDP revision and drop in unemployment claims. Despite rising US Treasury yields (10-year at 3.86%) and DXY up 0.33% to 101.38, Gold’s upward trend continues. Focus shifts to upcoming core PCE data, expected to slightly increase, potentially impacting Fed decisions. CME FedWatch Tool shows 65.5% likelihood of a…
Global Trading: It is The Reaction to News that Matters The old trading adage that says “the reaction to news is more important than the news itself” is even more relevant in today’s market as central banks embark on a rate cutting path. Good News vs. Bad News Another way oif saying it is…
Newsquawk Week Ahead 26th – 28th August Newsquawk.com Week Ahead 26th-30th August 2024: Highlights include US PCE, UoM, Global CPI’s, and NVDA earnings MON: UK Market Holiday (Bank Holiday), German Ifo (Aug) TUE: CBRT Minutes, Chinese Industrial Profit (Jul), German GfK Consumer Sentiment (Sep) WED: Australian CPI (Jul), Nvidia (NVDA) Earnings (Q2) THU:…
If I Was in Fed Chair Powell’s Shoes… If I was in Fed Chair Powell’s shoes, I would pat myself on the back and just look to confirm what economists are forecasting, which is for 75bps of rate cuts this year. Even if I wanted to cut rates by 50bps at the September…
What is the Surge in Gold Saying About the US Dollar? With XAUUSD topping 2500 to set a new record high on Friday, the question is whether this is a speculative bubble or is there more to the surge in the precious metal? When I read that Costco has generated an estimated $100 million…
Newsquawk.com Week Ahead 19th-23rd August 2024: Highlights include Jackson Hole, FOMC Minutes, ECB Minutes, Canadian and Japanese CPI, and Flash PMI data MON: US Democratic National Convention (Aug 19-22), Bank of Indonesia Announcement, New Zealand Trade Balance (Jul) TUE: US Democratic National Convention (Aug 19-22), PBoC LPR, RBA Minutes, Riksbank Announcement, CBRT Announcement, EZ Final…
The market anticipates a federal reserve rate cut amid economic uncertainty. This sentiment has been fueled by comments from Bank of America CEO Brian Moynihan, who has publicly urged the central bank to take action. However, Federal Reserve board member Michelle Bowman has advocated for maintaining the current policy stance, highlighting the need for caution….
The Mexican Peso makes gains against the US Dollar after the release of lower-than-expected US PPI inflation data. The data weakens the US Dollar and increase the probability of a 0.50% interest rate cut by the Fed in September. The Peso suffered after weak Mexican consumer confidence data and central banker comments weighed. US inflation…