The Fed holds rates near zero yet some borrowing costs are already on the rise
Even though the Federal Reserve didn’t raise its benchmark rate Wednesday, the days of low rates are clearly numbered. Reports of hotter-than-anticipated inflation have paved the way for the central bank to unwind last year’s bond buying. While the Fed...
Japanese Yen Drifting as FOMC Looms
Japanese markets are closed for a holiday today and the Japanese yen is having a quiet day. USD/JPY is currently trading at 114.07, up 0.10% on the day. FOMC expected to taper The FOMC holds a crucial today, with the...
USDCHF bullish forces unable to gain advantage; bias bearish
USDCHF has been deteriorating for a month after the pair hit a near 6-month peak just shy of the long-term trendline pulled from the April 2019 high of 1.0235. The price is currently steady at the mid-Bollinger band at 0.9130...
Pound Edges Higher ahead of FOMC
The British pound has edged higher in the Wednesday session. GBP/USD is currently trading at 1.3644, up 0.22% on the day. FOMC will likely taper, but by how much? The FOMC holds a key policy meeting later today, with the...
Gold Plunges Below Supportive Trendline
Gold slid aggressively below the ascending trendline in the four-hour chart on Wednesday, signalling more negative sessions ahead. The 50% Fibonacci retracement of the 1,833 – 1,722 downleg at 1, 777 is also positioned in the same region, making any...
Companies add 571,000 jobs in October thanks to a big boost in hospitality hires, ADP says
A company advertises a help wanted sign on April 09, 2021 in Pawtucket, Rhode Island. Spencer Platt | Getty Images Private sector job creation popped higher in October thanks to a burst in hiring in the hospitality sector, payroll processing...
Private payrolls up 571,000 in October on jump in hospitality hires, topping estimate, ADP says
A company advertises a help wanted sign on April 09, 2021 in Pawtucket, Rhode Island. Spencer Platt | Getty Images Private sector job creation popped higher in October thanks to a burst in hiring in the hospitality sector, payroll processing...
Dollar Shrugs Strong ADP Job Data, Fed Tapering Next
The markets are generally quiet as FOMC tapering announcement is awaited. Major European indexes tread water while US futures are mixed. Global benchmark yields are trading lower for now. In the currency markets, Canadian and Dollar are both weakening mildly...
Mortgage rates fell slightly, but weekly refinance demand couldn’t recover
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images A slight reprieve from rising mortgage rates did nothing to invigorate mortgage demand. Total mortgage application...
Bank of England could be about to hike rates in the face of surging inflation
General view of The Royal Exchange, Bank of England and City of London on an overcast day. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England’s Monetary Policy Committee will meet Thursday to...
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