Most Latin American currencies ticked up against the dollar
on Monday as global markets awaited the U.S. Federal Reserve's
rate verdict later this week, with bets tilted toward an
outsized ...
The U.S. dollar
fell to a more than one-year low versus the yen on Monday, as
expectations increased that the Federal Reserve could deliver a
supersized cut to interest rates later this week.
In recent years, Federal Reserve Chair Jerome Powell mentioned inflation extensively in various speeches, testimonies, and reports. This Wednesday will be no different. The rate influences borrowing costs for mortgages, credit cards, and car loans. With inflation having fallen close to pre-pandemic levels, the Fed is at a turning point.
In recent years, Federal Reserve Chair Jerome Powell mentioned inflation extensively in various speeches, testimonies, and reports. This Wednesday will be no different. The rate influences borrowing costs for mortgages, credit cards, and car loans. With inflation having fallen close to pre-pandemic levels, the Fed is at a turning point.
Argentina's economy likely shrank 1.4% in the second quarter versus a year earlier, a Reuters poll showed on Monday, the fifth such decline as a recession deepens under a tough austerity drive by libertarian President Javier Milei. That median GDP estimate from 15 analysts polled by Reuters for the April-June period would follow a 5.1% year-over-year contraction in the first quarter.
A potential crypto market reversal ahead of the upcoming Federal Open Market Committee meeting on Wednesday may be on the cards, according to a crypto trader. What Happened: Pseudonymous trader Astronomer Zero puts a 91% chance on the market reversing after the meeting.
The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday.
The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday.
NewtekOne, Inc. (NEWT) announced today that it has closed a registered public offering of $75.0 million aggregate principal amount of its 8.625% Fixed Rate Senior Notes due 2029. The Notes are expected to be listed on the Nasdaq Global Market? under the trading symbol ?NEWTH,? within thirty days.
* U.S. 2/10 yield curve hits steepest since July 2022. * Fed funds futures price in 61% chance of 50-bp cut. * Focus on U.S. retail sales ahead of Fed decision on Wednesday. By Matt Tracy.
Often considered an afterthought compared to the juggernauts of economic indicators ? such as the Consumer Price Index inflation and job market report ? retail sales data rarely moves the needle for Federal Reserve policymakers.
* Federal Reserve's policy meeting due on Wednesday. * U.S. dollar down 0.4% against its rivals. * Gold to hit $2,900 by end of 2025, ANZ analysts say. By Anushree Ashish Mukherjee. Gold prices extended gains to an all-time high on Monday, supported by a weaker dollar and the prospect of a big rate reduction by the U.S. Federal Reserve at its policy meeting this week.
* Apple (AAPL) falls after analyst flags weak demand for new iPhones. * Intel (INTC) rises after report chipmaker qualifies for federal grants. * Boeing (BA) dips after it freezes hiring, weighs temporary furloughs. * Indexes: Dow up 0.16%, S&P 500 down 0.23%, Nasdaq down 0.83% By Johann M Cherian and Purvi Agarwal.
Forty of the world's leading commercial banks have joined a G7-led pilot scheme with the New York Fed and leading central banks from Europe, Korea and Japan for a new digital currency platform designed to speed up and enhance cross border payments.
More than 40 financial firms will join central bank group the Bank for International Settlements to explore how tokenization can enhance wholesale cross-border payments in Project Agor?, the BIS said on Monday.
The U.S. dollar
fell to a more than one-year low versus the yen on Monday, as
expectations increased that the Federal Reserve could deliver a
supersized cut to interest rates later this week.
Euro zone government bond yields slipped on Monday as money markets increased their bets on a super-sized 50 basis point rate cut by the Federal Reserve on Wednesday. The Bank of England and the Bank of Japan will also hold their policy meetings later this week and are expected to keep rates at the current levels.
Given the Fed's reluctance to "surprise markets or take actions that could be perceived as overtly political," Interactive Brokers Chief Strategist Steve Sosnick said, "we find it hard to believe that anything other than 25 bp is the likely outcome for the upcoming FOMC meeting."
Fitch: * FITCH UPGRADES TUNISIA TO 'CCC+' * FITCH ON TUNISIA: UPGRADE REFLECTS INCREASED CONFIDENCE IN GOVERNMENT'S ABILITY TO MEET ITS LARGE FISCAL FINANCING NEEDS. * FITCH ON TUNISIA: PERSISTENT EXTERNAL SUPPORT, FALLING EXTERNAL AMORTISATIONS, SHOULD ALLOW TUNISIA TO BALANCE ITS NET EXTERNAL FINANCING BY 2026. * FITCH: BELIEVE DOMESTIC BANKING SECTOR COULD HELP MEET TUNISIA'S FINANCING NEEDS.
Canada's main stock index edged up to an all-time high on Monday, driven by gains in healthcare shares, while investors bet on a heftier U.S. interest-rate cut later this week. The Toronto Stock Exchange's S&P/TSX composite index was up 54.98 points, or 0.23%, at 23,623.63. It had notched record-high closing levels in the past two sessions.
The unprecedented 2020-2024 interest rate cycle marked the fastest pivot from an active easing to tightening by policymakers in advanced economies since the 1970s. Even if the Federal Reserve pivots to cutting interest rates, rates may not fall to levels typical of the last 15 years during this rate cycle.
Futures on the fed funds rate, which measures the cost of unsecured overnight loans between banks, have priced in a nearly 60% chance of a 50 basis-point rate cut by the Federal Reserve on Wednesday, LSEG calculations showed. That was up from 45% last Friday and from 25% following the release of an in-line U.S. consumer price index report last week.
US-listed shares of Chinese stocks, including Alibaba Group Holding Limited (BABA) and PDD Holdings, Inc. (PDD), are trading slightly lower Monday following weak economic data released over the weekend. The Details: Data released on Saturday showed factory output, consumption and investment in China all slowed more than anticipated, while the jobless rate unexpectedly rose to a six-month high.
U.S. Treasury yields were flat on Monday after a Friday bond rally, as investors weigh the odds of a half-percentage point interest rate cut by the Federal Reserve this week.
The Thai government will nominate a ruling party loyalist and critic of the central bank governor for chair of the Bank of Thailand, seeking to assert influence on the institution amid a protracted rift over interest rates, according to two sources.
Most Latin American stocks and
currencies rose in early trading on Monday, as emerging market
assets rode the prospects of an outsized Federal Reserve
interest rate cut, while Israel's shekel ...
The U.S. dollar fell on Friday to its
lowest level in nearly nine months against the Japanese yen after media reports
once again fueled speculation the Federal Reserve could deliver a ...
By Gertrude Chavez-Dreyfuss and Chibuike Oguh. The U.S. dollar fell on Friday to its lowest level in nearly nine months against the Japanese yen after media reports once again fueled speculation the Federal Reserve could deliver a super-sized 50-basis-point interest rate cut at its policy meeting next week.
The U.S. economy is not in need of a substantial rate cut to maintain its growth, according to Carl Weinberg, Chief Economist at High Frequency Economics. What Happened: Weinberg discussed the state of the U.S. economy and the Federal Reserve?s monetary policy decisions, in a recent interview with CNBC.
By RoboForex Analytical Department EUR/USD is showing signs of strengthening, currently trading around 1.1088 on Monday. The shift in market sentiment has been substantial, with the probability of a 50 basis point cut now at 45%, up from just 20% a week earlier. Conversely, the European Central Bank, which reduced its rate last week, continues to assert its independence.
Canada's main stock index hit a record high on Monday, lifted by healthcare and energy stocks, as investors anticipated a bigger U.S. interest rate cut by the U.S. Federal Reserve later this week. At 9:31 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 88.59 points, or 0.38%, at 23,657.24.
The Federal Reserve is set to cut the federal funds rate for the first time in over four years at the upcoming Federal Open Market Committee meeting on Wednesday. The key options on the table are either a 25-basis-point cut or a more aggressive 50-basis-point cut. Currently, market participants are leaning slightly toward the latter.
- Foreign investors ploughed a net $30.9 billion into emerging market stocks and debt portfolios in August as markets continue to position for an imminent rate cut from the U.S. Federal Reserve, data from a banking trade group showed on Monday. Fixed income funds ex-China accounted for $27.8 billion of inflows, with $1.4 billion funneled to Chinese debt, the data show.
Foreign investors ploughed a net $30.9 billion into emerging market stocks and debt portfolios in August as markets continue to position for an imminent rate cut from the U.S. Federal Reserve, data from a banking trade group showed on Monday. Fixed income funds ex-China accounted for $27.8 billion of inflows, with $1.4 billion funneled to Chinese debt, the data show.
The dollar was lower on Monday while the yen hit its highest level in more than a year, as market participants increasingly expected an oversized rate cut by the Federal Reserve later this week. The dollar traded at 140.01 yen at 1140 GMT, after falling to as low as 139.58 yen in the session.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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