Fed sees stronger economy and higher inflation, but no rate hikes
The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation. As widely expected,...
Robinhood beefs up executive team with Google veteran to lead product ahead of IPO
Robinhood hires Aparna Chennapragada as first chief product officer Robinhood has hired a top Google executive as its first chief product officer ahead of its upcoming public debut. The trading start-up said Wednesday it will bring on Aparna Chennapragada, who...
USDZAR Holds Neutral as MAs Cap Gains
USDZAR remains stuck in a sideways range both in the short and medium terms, with prices struggling to gain traction below the thin Ichimoku cloud. Aside from the cloud bottom posing a major obstacle in the 15.0750 region, the bulls...
Fed Time, Yields Surge
The Nasdaq is lower ahead of the FOMC policy decision that will likely deliver a much more upbeat outlook that should allow the Treasury yields to continue to climb higher. The Fed will remain dovish and the dot-plots will show...
Dollar Steady, Yields Impatient ahead of FOMC
The markets remain generally quiet today, awaiting FOMC rate decision. Sterling regains much of the ground lost earlier in the week. Canadian Dollar is also firm, in particular against other commodity currencies. On the other hand, Swiss Franc is paring...
Markets on Fed Watch, Vaccine Woes in Europe
After a mixed session in Asia, Europe is seeing a mildly lower start, with most sitting on the sidelines ahead of the much-anticipated FOMC meeting later today. Volumes are expected to be light across the session with few wanting to...
Gold Bulls Await A Fresh Impetus Above 1,740 To Resume Rally
Gold bounced off 1,699 to fight the tough wall around 1,740 on the four-hour chart, which has been a crucial obstacle to upside movements since the start of the month. The sideways trajectory in the RSI and the MACD and...
Mortgage refinance demand tanks 39% as rates continue to climb
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Higher mortgage rates are cutting into demand for refinances, as fewer and fewer...
Dollar Holding in Range, FOMC Awaited
The markets continues to trade in non-committal way as traders await Fed’s comments on treasury yields. Swiss Franc is currently the strongest one for the week, thanks to yesterday’s rally. But there is no follow through buying so far. Canadian...
BOE Preview – Response to Rising Yields in Focus
We expect BOE to vote 9-0 to leave the Bank rate unchanged at 0.1%. Meanwhile, the QE program will also stay at 875B pound worth of government bonds, and 20B pound of corporate debt. Despite contraction in the first quarter,...