Asia FX firm, dollar drifts lower with Fed rate cut in sight
-- Most Asian currencies firmed on Wednesday, while the dollar retreated as markets positioned for a widely expected interest rate cut by the Federal Reserve later in...
-- Most Asian currencies firmed on Wednesday, while the dollar retreated as markets positioned for a widely expected interest rate cut by the Federal Reserve later in...
Steve Hanke said the Federal Reserve has left it too late to avoid systemic turbulence in the economy.
Morningstar report says State Street's year-to-date flows are lagging Vanguard and iShares by a wide margin.
The U.S. central bank cut the federal funds rate for the first time since early 2020.
-- Japan’s trade balance shrank less than expected in August, although growth in both imports and exports missed expectations amid sluggish demand and disruptions in...
According to Odaily, Commerzbank analysts have indicated that following the European Central Bank's decision to lower the deposit rate by 25 basis points last week, several other central banks are set to announce their policy decisions this week. Most of these decisions are likely to maintain current interest rates, with one significant exception. If the Federal Reserve does not begin its rate-cutting cycle on Wednesday, it would be a major surprise.Analyst Volkmar Baur noted, 'At the start of this week, the market anticipated a slightly higher than 50% chance of a significant rate cut by the Federal Reserve. Our economists still expect a 25 basis point cut, which is well justified.' He added, 'However, a small initial step does not rule out larger moves in the future. This is why the current risk leans towards a weaker dollar.'
According to Odaily, the market widely anticipates that the Bank of Japan (BOJ) will keep its key overnight lending rate unchanged at 0.25% this week. However, the December meeting is expected to be more intriguing. Out of 36 economists surveyed by the Japan Center for Economic Research, 19 predict that the BOJ will raise rates again in December.Before the BOJ's meeting on December 18-19, the bank will monitor several key indicators to assess whether the economy is on track. These indicators include the BOJ's Tankan surveys for September and December, third-quarter GDP data, and corporate earnings for the same period.
According to Odaily, JPMorgan Chase CEO Jamie Dimon has stated that the Federal Reserve is expected to lower interest rates. However, he emphasized that this reduction will not be dramatic or groundbreaking.
The S&P 500 (^GSPC) reached an intraday record high on Tuesday while closing just below its flatline on the eve of the Federal Reserve's interest rate decision. Yahoo Finance markets and data editor Jared Blikre joins Josh Lipton on Asking for a Trend to look back on the day's biggest market drivers, which also includes fund managers' persistent bullishness on Magnificent Seven tech stocks and pricing trends within silver (SI=F). For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Luke Carberry Mogan.
According to Odaily, gold prices saw a slight increase during the early Asian market session. Tickmill analyst Joseph Dahrieh noted that the rise is driven by a weakening dollar and growing expectations of significant interest rate cuts by the Federal Reserve. Dahrieh highlighted that recent data from the U.S. job market indicates an economic slowdown, which raises the likelihood of a 50 basis point rate cut. Additionally, Dahrieh mentioned that the increasing political uncertainty ahead of the U.S. November elections is enhancing gold's appeal as a safe-haven asset.