Investors cheered Federal Reserve Chair Jerome Powell's Jackson Hole address, which gave a green light to buy risky assets on the hope the central bank is ready to cut rates, but took his dovish message with a note of caution as they see a risk of stagflation ahead and worry markets are over-optimistic. In his final address as Fed chair at the Jackson Hole, Wyoming, economic symposium, Powell hinted at a September interest rate cut but stopped short of committing, striking a careful balance between mounting job-market risks and lingering inflation worries. The speech on Friday came amid...
European equity markets are set to open cautiously on Friday (17/1) as investors prepare for the inauguration of Donald Trump as US President on January 20, amid concerns over potential tariffs that could impact the European economy. Despite the uncertainty, regional benchmarks are on track for solid weekly gains, supported by signs of easing US inflation, which have strengthened expectations for further Federal Reserve interest rate cuts this year. Meanwhile, investors will be watching UK retail sales data and final Eurozone inflation figures. In pre-market trading, Euro Stoxx 50 and Stoxx...
US citizens filing new applications for unemployment insurance rose to 217K for the week ending January 10, as reported by the US Department of Labor (DoL) on Thursday. This print missed initial estimates and was higher than the previous week's tally of 203K (revised from 201K). Source: Fxstreet
US retail sales increased at a slower than anticipated month-on-month rate in December, in the latest data point that could paint a picture of the state of the American economy heading into the new year. Retail sales grew by 0.4% last month, down from an upwardly revised pace of 0.8% in November. Economists had called for a reading of 0.6%. Source: Investing.com
Inflation in the US, as measured by the change in the Consumer Price Index (CPI), rose 2.9% on a yearly basis in December from 2.7% in November, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in line with market expectations. On a monthly basis, the CPI rose 0.4%, following the 0.3% increase recorded in the previous month. The core CPI, which excludes volatile food and energy prices, rose 3.2% on a yearly basis—below November's gain and analysts' estimates for a 3.3% increase. The monthly core CPI rose 0.2% in the last month of 2024. Souce: FXstreet
South Korea's jobless rate jumped to the highest in 3-1/2 years in December, as economic uncertainty heightened and sentiment dampened amid political turmoil, official data showed on Wednesday.The unemployment rate rose in December to 3.7% on a seasonally adjusted basis, the highest since June 2021 and sharply up from 2.7% in November, according to Statistics Korea.The number of employed people fell by 52,000 over the 12 months to December, after a gain of 123,000 in November. It was the first fall since February 2021.(Cay) Newsmaker23 Source: investing.com
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...