The market continues to hold positive sentiment as the latest economic data is interpreted as good news Alleviating the strength and price pressures in the labor market. Fed Chairman Powell did not touch on monetary policy or the latest data set, allaying fears for the market and giving him more confidence to continue the rally. … Read more
S&P 500 futures are now down 7 points, or 0.2%, while the 10-year Treasury yield is now up 3.6 bps to 3.730%. That’s up around 0.5% and a slight contrast from the previous session when the latter fell 1 bps to 3.684%. The change in sentiment is now seeing the dollar slightly higher against major … Read more
Germany and the Netherlands have proposed 10 measures the EU could use to cap gas prices and eliminate fuel rationing, including a new price adjustment for liquefied natural gas. The plan, seen by Reuters and shared with other EU countries before the bloc’s energy ministers met on Wednesday, calls for the EU to begin buying … Read more
Eurozone retail sales fell in August, data showed on Thursday, pointing to weakness in consumer demand and a looming recession. Eurozone retail sales YoY: -2% (forecast -1.7%, previous -0.9%) The European Union’s statistics office, Eurostat, said that retail sales in the 19 countries that share the euro fell by 0.3 percent in the month, down … Read more
The dollar is soft across the board as it has been giving back some of its gains of late. That said, even a 1% jump in cable is still unheard of with prices hovering above 1.0800 on the day. Elsewhere, the dollar spot in USD/JPY was down 0.3%, but still around 144.30 and close to … Read more
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Despite being the first of the major central banks to tighten policy, the rate hike by the BOE was felt to be too weak as inflation continued to spread throughout the UK economy. To be fair, monetary policy is not putting the brakes on inflation as much as we, or policymakers for that matter, expected. … Read more
Sellers are keeping a close eye on the recent 100-hour moving average near 0.6920. We are now seeing the price fall to a new low of 0.6875, which closed at around 0.6869-75 last week. The break below will bring the key support level to a two-day low of around 0.6850 in May. There is little … Read more
For the past two years, the weakest housing project has been a smooth read since January, when construction was halted last month. Companies have been warned that rising borrowing costs and severe economic instability could be a major wind for customers in the next 12 months. S&P Global observed: “The resilience of the business and … Read more
Markets Market- Gold from $ 3 to $ 1844 U.S. 10-year production fell from 7 bps to 2.79% WTI crude oil rose from $ 95-cent to $ 110.83. S&P 500 up 0.1% Nasdaq -0.3% NZD leads, Euro delayed. The S&P 500 weekly fall was the seventh in a row, the longest since 2001. The most … Read more