Gold: Rises as the Fed Chair calls PPI data as 'mixed' on downward revisions to the prior data.
Indian stock market update on Tuesday, May 07: Global cues, Gift Nifty hint at gap-up start; Q4 earnings, FII flows in focus.
The yield on the benchmark 10-year government bond fell by three basis points to settle at 7.16 per cent, against 7.19 per cent on Tuesday
Japanese currency was trading a touch lower 0.16% at 156.56 per dollar, but was well off its 34-year low of 160.245 hit on Monday
Bloomberg Economics' Fed sentiment index - powered by a natural language processing algorithm based on more than 60,000 Fed headlines - shows that in December, Powell delivered a major pivot.
The gains erased some losses from the previous session, which was dominated by worries about stubborn U.S. inflation that dampened hopes for an interest rate cut as early as June
Stock market updates, March 21: The S&P BSE Sensex jumped 781 points intraday to hit a high of 72,882 level, while the Nifty50 reclaimed the 22,000-mark
My expectation is that the rate of inflation will continue to decline, but more slowly than the pace implied by where the markets signal monetary policy should be, he said
The dollar has been buoyed by U.S. economic data suggesting the Fed can wait longer before cutting interest rates
Interim budget, the US Federal policy decision and quarterly earnings will be the major drivers for stock markets which may also see some consolidation this week, say analysts. Besides, investors would also focus on the trading activity of foreign investors and global trends for further cues. From the macroeconomic front, the PMI (Purchasing Managers' Index) data for the manufacturing sector is scheduled to be announced on Thursday. Finance Minister Nirmala Sitharaman will present the interim budget for 2024-25 on February 1 (Thursday). The Federal Open Market Committee meeting will be held on January 30 and 31. "Market is likely to consolidate further ahead of the US Fed interest rate decision where the Fed is expected to maintain status quo and give some hint with regards to rate cut timeline. Apart from this, BoE (Bank of England) monetary policy is also due coupled with a few key economic data releases which might keep markets volatile. "Further many heavyweights would be ...
The rupee closed at 83.1650 to the U.S. dollar, up from 83.3450 in the previous session. The currency posted its biggest rise in a single rise in nearly two weeks
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Fed Chair Jerome Powell said at Wednesday's Federal Open Market Committee (FOMC) meeting that the historic tightening of monetary policy is likely over
A near unanimous 17 of 19 Fed officials project that the policy rate will be lower by the end of 2024 than it is now
The main market focus will be on Fed officials' updated economic and interest rate projections, with the U.S. central bank expected to leave rates unchanged for the third consecutive meeting
Policymakers from fully half of the Group of 10 jurisdictions of most-traded currencies are scheduled to meet in the coming days, and interest rates for 60% of the world economy will be set
The dollar gained as investors took profits on bets it would weaken further and shrugged off economic data suggesting the Fed could be done hiking rates
Spot gold rose 0.2% to $2,044.69 per ounce by 0632 GMT, after hitting its highest since May 5. U.S. gold futures for December delivery rose 0.3% to $2,045.30 per ounce
The market was certain the U.S. central bank will leave rates unchanged in December, with most traders eyeing rate cuts from May 2024.
The recent bounce in the markets has been led by a pause in the rate hiking cycle, but the 'higher for longer' narrative is yet to be fully factored in