Fed’s Bostic says there’s no reason to change policy despite inflation fears
Atlanta Federal Reserve President Raphael Bostic told CNBC on Monday that he’s comfortable with the central bank’s ultra-loose policy even as inflation gains steam in the U.S. economy. “We are still 8 million jobs short of where we were pre-pandemic,”...
Weak Risk Sentiment Supporting Dollar, For Now
Commodity currencies are trading as the weaker ones for today so far, as risk markets turn softer. Major European indexes are in slight red,. while US futures point to lower open. Yen is currently the stronger ones, followed by Swiss...
Bitcoin Rebounds But Damage Already Done?
Once upon a time, traders used to watch Donald Trump’s twitter handle like hawks. Now it is Elon Musk’s turn – especially for crypto traders. After Musk replied to a tweet implying that Tesla had sold or is selling its...
Global Sugar Supply Shortage Propels Price
Brazil, top exporter of Sugar, experiences record prices of ethanol as Covid-19 restrictions ease. Consumers take advantage of the easing and start travelling again, increasing consumption of biofuel. This means that mills can start processing more sugar cane into ethanol,...
The Dollar Struggles, But A Clear Resumption Of The Downtrend Doesn’t Materialize
Markets Higher-than-expected US inflation readings reinforced the debate whether or not current price rises will be as temporary as most central bankers flagged of late. Financial inflation indicators including the 10-y US breakeven inflation (2.54%) jumped to multi-year peak levels...
Dollar Recovers Mildly, Gold Extending Rise, Bitcoin in Free Fall
Dollar and Yen recover mildly in a mixed Asian session today, while commodity currencies are mildly today. But major pairs and crosses are all bounded inside Friday’s range so far. China data provided some support to Hong Kong and China...
Stock futures rise slightly after Wall Street’s worst week since February
Traders on the floor of the NYSE. Source: NYSE Stock futures edged up in overnight trading on Sunday as the market looked to continue to rebound from last week’s sell-off triggered by inflation jitters. Futures on the Dow Jones Industrial...
States are ending federal unemployment benefits early. Here’s what to know and what’s at stake
Ohio Gov. Mike DeWine said Thursday that the state would end its participation in federal unemployment programs June 26. Justin Merriman | Getty Images News | Getty Images So, what’s going on? At least 16 states have elected to opt...
Stocks Stayed in Up Trend, Yields Range Bound, Dollar Lost Downside Momentum
Market debates heated up last week with the influx of some US economic data. On the other hand, the concerns on overheating inflation was legitimate given the much stronger than expected headline and core CPI reading from the US. On...
Weekly Economic & Financial Commentary: Reopening Comes with a Steep Price Tag
Summary United States: Reopening Comes with a Steep Price Tag The leap in consumer prices this week laid bare that challenges in meeting soaring demand come with a cost. There were few signs of the mismatch between supply and demand...
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