Dollar falls after CPI, Fed meeting; PPI release due
- The U.S. dollar fell Thursday, as traders weighed up the competing factors of benign U.S. inflation yet a more hawkish Federal Reserve. At 04:25 ET (08:25 GMT),...
- The U.S. dollar fell Thursday, as traders weighed up the competing factors of benign U.S. inflation yet a more hawkish Federal Reserve. At 04:25 ET (08:25 GMT),...
Total commodity investor assets under management continued to rise through April and May, according to analysis from RBC, suggesting that this turn in momentum should be one to watch. Total assets under management (AUM) now stand at $608.4 billion, higher month-on-month but still not enough to pull the year-to date average for 2024 above the 2023 full year average. “In 2024, we think AUM could stabilize further, especially if precious metals flows turn sustainably positive,” RBC said.
-- Most Asian currencies weakened on Thursday as forecasts of fewer interest rate cuts by the Federal Reserve dented appetite for regional markets, even as the dollar...
We're witnessing option trading volumes surpassing actual stock trading volumes!
-- Australia’s job market grew more than expected in May, shrugging off recent signs of cooling as strong labor demand and relatively limited supply of skilled workers...
The S&P 500 rose 0.9% Wednesday, closing at another record high, after the Federal Reserve also gave reassurance that it still sees a cut to interest rates as likely this year. The Nasdaq composite rose 1.5%, also beating the all-time high it set a day earlier. The Nasdaq composite rose 264.89 points, or 1.5%, to 17,608.44.
The CPI was unchanged in May, the government reported on Wednesday.
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Stocks and bonds were climbing in the wake of a cooler-than-expected inflation report, but the rally still has to get through the latest Federal Open Market Committee meeting. The Nasdaq Composite was up 1.9%. The S&P and Nasdaq are both coming off record closes on Monday and Tuesday.