Fed’s Evans sees inflation falling below central bank’s 2% target after current rise subsides
The current spate of inflation won’t last and ultimately will fall below the Federal Reserve’s target, Chicago Fed President Charles Evans said Tuesday. While inflation by some measures is running at a 30-year high, Evans told CNBC the supply chain...
U.S. faces a recession if Congress doesn’t address the debt limit within 2 weeks, Yellen says
Treasury Secretary Janet Yellen on Tuesday said she believes the economy would fall into a recession if Congress fails to address the federal government’s borrowing limit before an unprecedented default on the U.S. debt. “I do regard Oct. 18 as...
Yellen sees inflation staying higher for the next several months
Treasury Secretary Janet Yellen cautioned Tuesday that inflationary pressures hitting the U.S. economy could last for a while. Coming less than a week after Federal Reserve Chairman Jerome Powell called inflation “frustrating,” Yellen told CNBC that the various issues that...
U.S. Service Sector Remains Strong
The ISM services index surprised with an increase to 61.9 in September from 61.7 in August. This was higher than market expectations for a decline to 60. Combined with the manufacturing reading, the ISM Composite reading moved to 61.8 from...
NZ Dollar on Hold ahead of RBNZ
The New Zealand dollar is calm in the Tuesday session, ahead of the RBNZ policy decision. NZD/USD is currently trading at 0.6963, down 0.10% on the day. The currency has been on an impressive upturn, rising two full cents since...
Sterling Rises in Stable Markets, Euro and Swiss Franc Soft
Market sentiment is stable today, with European index trading mildly higher while US futures point to a rebound. But overall direction remains rather unclear. Sterling is currently the stronger one, with additional help from buying against other European majors. Kiwi...
USD/JPY Bears Are Still In Control
The USD/JPY has reached the confluence zone and we might see a drop. The 111.20 zone has been hit and the price is hesitant to move further up. At this point we could see the move down which might become more potent...
EUR/USD Outlook: Bears Regain Traction After Minor Recovery But May Stay On Hold Until US NFP Data
The Euro returns to red on Tuesday after minor correction in past two days lost traction ahead of initial resistances at 1.1660 zone. The pair keeps negative tone but probes below pivotal 1.16 support zone, so far lacked strength to...
RBA Affirmed No Rate Hike Until 2024, Widening Policy Divergence with Counterparts
The RBA left the cash rate unchanged at 0.1%, and asset purchases at AUD 4B/month, in October. Despite sharp rise in housing prices, policymakers chose to stick with ultra-easy monetary policy in order to achieve the inflation target and full...
Aussie Soft after Uneventful RBA, Dollar Recovering after Brief Selloff
Dollar is regaining some ground in Asian session today, as yesterday’s selloff was relatively well contained so far. Sterling is also recovering, together with Euro, against others. On the other hand, Australian Dollar turns softer after uneventful RBA rate decision....
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