Economists believe that this weakening MXN performance, which typically fluctuates in tandem with USD movements, reflects apprehensions about a sluggish US economy. Risk-averse forex trading saw the greenback gain roughly 4% in the week ending 2 August 2024. Mexico’s latest data indicates a minor rise in unemployment with minimal changes in gross fixed investments during…
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This intercession is the latest in Japan’s efforts to throw a lifeline to the yen after it dropped to its lowest mark against the USD in 38 years. The Japanese Ministry of Finance published data on Wednesday 31 July 2024 showing that the government paid out 5.53tn JPY – the equivalent of roughly $36.8bn –…
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The bank predicts a bullish medium-term greenback performance in tandem with high yields, a significant growth barrier and other relevant aspects. Investing.com indicated that this firm did, however, mention that “tactical concerns stem from nascent signs of fading US growth exceptionalism and saturated investor longs”. JPMorgan also stated: Inflation divergences will be key as central…
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Everyone – from investors and consumers to authorities and analysts – anticipated inflation relief. Instead, price stresses continued, and, following the confirmed information, the Dow Jones Industrial Average lost almost 500 points when it dropped by 2.4%. CNBC quoted Jason Furman, a Harvard economist, who commented: Fool me once, shame on you. Fool me twice,…
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Last week, LeapRate reported on job cuts in the finance and tech sectors. Based on Challenger, Gray & Christmas information, US-based layoffs in January increased by 136% compared to December 2023. Challenger Report data shows that the finance sector axed 23,238 jobs. This report stated: With the exception of last January’s total, this is the…
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Bloomberg reports inflation dipped below the 3% mark for the first time since 2021. On the back of a 2.9% inflation rate, consumer spending remains high, but there are concerns that this inflation margin will escalate prices again. Despite this optimism, economists warned the monthly US jobs report, job openings and consumer data, and the…
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According to a Reuters report, spot gold was down by 1.3%, reaching $2,027.26 per ounce, following three consecutive sessions of gains at 2:36 p.m. E.T. (19:36 GMT). U.S. gold futures also settled more than 1% lower at $2,030.2. A senior analyst at Kitco Metals, Jim Wyckoff, commented: Strong gains in the U.S. dollar index are…
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This year, the regional banks and their members are Cleveland’s Loretta Mester, Atlanta’s Raphael Bostic, San Francisco’s Mary Daly and Richmond’s Tom Barkin. Despite raising rates to a 22-year record high in H1 of 2023, Wall Street is still expecting rate cuts to begin in March this year, continuing for six rounds, so the new…
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The dollar set itself on track for its longest winning streak since September 2023 and the 10-year US Treasury yield rose one basis point at 4.01%. The US data due to be released later today will contain information regarding rate cuts from the Federal Reserve, with market sentiment predicting good nonfarm payrolls data. Don’t miss…
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The markets are eager to see the November core personal consumption expenditure (PCE) price index report, due early this afternoon, which will disclose the Fed’s take on underlying inflation. Having said that, Fed officials deflected the notion of quickfire rate cuts in Q1 2024, but this does not seem to have deterred the market outlook.…
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