The dollar gave up gains made earlier on Tuesday after data showed U.S. labor costs increased less than expected in the fourth quarter, and before the Federal Reserve is expected to hike rates by 25 basis points on Wednesday. The Employment Cost Index, the broadest measure of labor costs, rose 1.0% last quarter after increasing
Month: January 2023
USDCHF falls back to underside of broken trend line The USDCHF has followed the US dollar lower after the employment cost data came in touch weaker than expectations. Yields are lower with the five-year down 6.4 basis points at 3.618%, the 10 year is down 5.2 basis points at 3.497%. Looking at the hourly chart
Barclays Research discusses its expectations for this week’s FOMC policy meeting. “All eyes are on next week’s FOMC meeting. As is widely anticipated, we expect the FOMC to again slow the pace of hikes, raising the target range by 25bp to 4.5-4.75%. Such a move would be in line with pre-blackout FOMC communications and supported
Dollar attempted to extend recovery today but once again lacked follow through momentum. The greenback is mildly supported by slight risk aversion, but lags behind Yen and Swiss Franc. For now, Australian Dollar remains the worst for the day on poor retail sales data, followed by Canadian and New Zealand Dollar. Euro and Sterling are
Employment costs increased at a slower than expected pace in the fourth quarter, indicating that inflation pressures on business owners are at least leveling off. The employment cost index, a barometer the Federal Reserve watches closely for inflation signs, increased 1% in the October-to-December period, the Labor Department reported Tuesday. That was a bit below
In this article SPOT Follow your favorite stocksCREATE FREE ACCOUNT People exit the Spotify headquarters building in Lower Manhattan on January 23, 2023 in New York City. Eduardo MunozAlvarez | View Press | Corbis News | Getty Images Spotify shares popped as much as 10% Tuesday after the company reported fourth-quarter earnings that beat analysts’ expectations
EUR/USD has extended its up move after breaking above the December high of 1.0730. Economists at Société Générale note that the pair could target the 1.1040/1.1080 area. Break of 1.0940 brings 1.1040/1.1080 in play “Daily MACD has turned flattish and is at a much lower level as compared to the highs achieved in November denoting
Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold Council (WGC) said on Tuesday. The data underline a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in
The major US stock indices took a turn back to the downside and are closing the day near session lows Dow Industrial Average is down -260.42 points or -0.77% at 33717.69 S&P index is down -52.68 points or -1.29% at 4017.89 NASDAQ index is down -227.89 points or -1.96% at 11393.82 For the NASDAQ index,
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Yen and Dollar are both in recovery mode in Asian session, as investor continued to turn cautious ahead of the three central bank meetings of Fed, BoE and ECB later in the week. Asian markets shrugged of better than expected PMI data from China, which indicated a return to expansion in both manufacturing and non-manufacturing
The IMF has revised its global economic outlook upwards. Norberto Duarte | Afp | Getty Images The International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity. In its latest economic update, the IMF
In this article MCD Follow your favorite stocksCREATE FREE ACCOUNT A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California. Justin Sullivan | Getty Images McDonald’s is expected to report its fourth-quarter earnings before the bell Tuesday. Here’s what analysts surveyed by Refinitiv are expecting the company
Twitter chief Elon Musk has reportedly instructed his developers to build the platform’s payments system in such a way that crypto functionality can be added in the future. According to a Jan. 30 Financial Times report, two people familiar with Twitter’s plans said that the payments feature will support fiat currencies to start but be
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AUD/JPY has slipped sharply below 92.00 as the focus has shifted to Australian Retail Sales data. Australian monthly Retail Sales data might show resilience due to revenge buying after three straight Covid Christmases. In addition to higher Australian CPI (Q4CY2022), higher Retail Sales might bolster the odds of a hawkish RBA policy. The AUD/JPY pair
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