- Asian shares fell and the dollar steadied on Wednesday as investors waited for a key U.S. report on inflation to provide hints to the Federal Reserve's plans for future monetary tightening. The Consumer Price Index report will be released later today, with markets watching for signs that inflation eased in July despite last week's unexpectedly strong U.S. jobs numbers.
Asian shares fell and the dollar steadied on Wednesday as investors waited for a key U.S. report on inflation to provide hints to the Federal Reserve's plans for future monetary tightening. The Consumer Price Index report will be released later today, with markets watching for signs that inflation eased in July despite last week's unexpectedly strong U.S. jobs numbers.
Gold prices struggled for momentum on
Wednesday, as investors refrained from making big bets ahead of
U.S. inflation data that is expected to influence the pace of
Federal Reserve rate hikes.
China's factory-gate inflation eased to its weakest since February 2021, as raw material prices fell due to already slower construction activity, while consumer prices rose gently, bucking the sharp increases seen elsewhere. The producer price index rose 4.2% year-on-year, the National Bureau of Statistics said on Wednesday, after a 6.1% uptick in June.
Brazil Economy Minister Paulo Guedes said on Tuesday the country's unemployment rate will be 8% before the year ends and that economic growth will exceed analysts' forecasts. "Before the year ends, we are going down to 8% ... we are going to end the year with the lowest unemployment rate we have seen in the last 10 or 15 years," he said.
The dollar traded firmly on
Wednesday in anticipation of U.S. inflation data, which even if
it comes in softer-than-expected is still likely to be so red
hot that steep U.S. interest rate rises will ...
* TSX ends down 90.87 points, or 0.5%, at 19,578.30. * Technology loses 4.1%; Nuvei (NVEI) tumbles 21.4% * Health care drops 7.9% as cannabis shares slide. * Energy gains 0.6% By Fergal Smith. Canada's main stock index fell on Tuesday, with technology shares leading the move lower ahead of U.S. inflation data expected to set the tone for additional Federal Reserve interest rate increases.
Argentina's central bank is likely to raise its benchmark interest rate by 600 basis points this week to tackle the country's high inflation, market participants told Reuters on Tuesday.
Argentina's central bank is likely to raise its benchmark interest rate by 600 basis points this week to tackle the country's high inflation, market participants told Reuters on Tuesday.
The growth of an open and decentralized metaverse may scale up the existing risks from crypto assets and could cause financial instability in the real world, according to the Bank of England.
U.S. Treasury yields edged
higher on Tuesday as investors waited on highly anticipated
inflation data on Wednesday, which will be scrutinized for how
aggressively the Federal Reserve might continue ...
In the current uncertain macroeconomic environment, the world's largest asset manager, BlackRock Inc, predicts there won't be a "soft landing" and prefers?overweight investment grade credit over standard equities. For the uninitiated, IG?securities in the financial industry are government and private fixed-income instruments that have a minimal risk of default, such as bonds and notes.
Argentina's industrial output grew 6.9% in June from a year ago in non-seasonally adjusted terms and rose 2.6% in seasonally adjusted terms from May, the government's INDEC statistics agency said on Tuesday.
John Lynch, Comerica Wealth Management's Chief Investment Officer, says there has been a growth in the money supply. Comerica Wealth Management is a part of?Comerica Incorporated?. Lynch added that there is a very strong correlation between core CPI and a one-year lag. Also Read:?Consumer Price Index Jumps 9.1% In June, Breaches Expectations.
The dollar edged lower on Tuesday in thin summer trading with market participants in wait-and-see mode ahead of key inflation figures that could shed more light on how aggressive the Federal Reserve might be in its expected interest rate hike in September.
U.S. manufacturing production probably peaked during the second quarter, though the data are noisy and conflicting, and a turning point may not become obvious until September or October. U.S. manufacturing output in June was down by 0.4% compared with March though it was still up by 3.6% compared with the same month a year earlier, estimates prepared by the Federal Reserve Board found.
* BANK OF CANADA TO AUCTION C$16 BILLION OF T-BILLS ON AUG. 16, FINAL CALL FOR TENDERS SHOWS. * BANK OF CANADA TO SELL C$9.2 BILLION 98-DAY T-BILLS, C$3.4 BILLION 182-DAY T-BILLS, C$3.4 BILLION 364-DAY T-BILLS Source text for Eikon: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/regular-treasury-bills/
Consumers are less confident their 2022 holiday plans will come to fruition compared to a year ago, according to a new study from Escalent, a top human behavior and analytics advisory firm. Interest in holiday shopping, traveling and gatherings are all down compared to a year ago, despite the easing of COVID-19 restrictions.
62% of Americans now believe we are in a recession, up four points over the last month The IBD/TIPP Economic Optimism Index, a leading national poll on consumer confidence, declined by 1.0% overall in August to return to a reading of 38.1 due to a significant drop on the Federal Policies component.
Brazil's central bank said on Tuesday that bank profitability in the country had returned to pre-pandemic levels in 2021, but said that profits could grow more slowly going forward, mentioning higher loan defaults and funding costs. This was the second best result of the annual data series which started in 2014, with the highest ROE at 16.7% in 2019.
U.S. Treasury yields edged
higher on Tuesday as investors waited on highly anticipated
inflation data on Wednesday, which will be scrutinized for new
clues on how aggressively the Federal Reserve ...
With the U.S. set to release its consumer price index data on Wednesday, Gopikrishnan MS, former head of trading for South Asia at Standard?Chartered Bank,?tells Benzinga readers how to effectively trade the USD/INR forex pair.
Brazil's central bank said on Tuesday its inflation forecast for the 12 months to March 2024 is in line with its policy strategy, indicating more strongly that its aggressive monetary policy cycle may have come to an end.
Moldova's central bank has raised its 2022 inflation forecast to 34.7% from 27.3% amid rising food prices and utility tariffs, National Bank of Moldova Governor Octavian Armasu said on Tuesday. The bank has now revised its forecast twice this year.
LONDON, Aug. 9, 2022 The monthly ICIS Petrochemical Index is recording a collapse in commodity petrochemical and polymer prices worldwide as economic and cost pressures for the sector mount. The leading indicator points to further price falls to come and significant margin pressure on some of the world's major chemical companies.
Australia's central bank has?launched a one-year research program for a central bank digital currency to find out the potential economic benefits it might bring. What Happened: The Reserve Bank of Australia said it has partnered with a government-backed industry group, the Digital Finance Cooperative Research Centre, for the research program for a CBDC.
- The Nasdaq fell on Tuesday after a dismal forecast from Micron Technology pulled chip and technology stocks lower as markets await U.S. inflation data that could lead the Federal Reserve to further tighten its aggressive plans to curb inflation.
The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await U.S. inflation data that could lead the Federal Reserve to further tighten its efforts to curb inflation.
Brazil's central bank said the 12-month inflation projection for the first quarter of 2024 "is consistent with the strategy of inflation convergence to around the target over the relevant horizon", minutes from its last policy meeting showed on Tuesday.
- Canada's main stock index fell on Tuesday, with technology shares leading the move lower ahead of U.S. inflation data expected to set the tone for additional Federal Reserve interest rate increases. The Toronto Stock Exchange's S&P/TSX composite index ended down 90.87 points, or 0.5%, at 19,578.30, after four straight days of gains.
Ukraine says it has reached the required quorum for holders of the country's GDP warrants to vote on Wednesday over a consent solicitation that proposes changes to the securities, according to a regulatory filling on Tuesday.
Mexican annual inflation reached its highest level in nearly 22 years in July, official data showed on Tuesday, rising faster than expected and fueling expectations that the central bank will raise the country's benchmark interest later this week. Inflation rose to 8.15% in the year through July from 7.99% in June, national statistics agency INEGI said.
Mexican annual inflation reached its highest level in nearly 22 years in July, official data showed on Tuesday, rising faster than expected and fueling expectations that the central bank will raise the country's benchmark interest later this week. Inflation rose to 8.15% in the year through July from 7.99% in June, national statistics agency INEGI said.
The dollar turned defensive against other major currencies on Tuesday, with traders reluctant to push the greenback higher without further signs that another aggressive interest rate hikes from the Federal Reserve was coming in September.
* Euro STOXX 600 down 0.6% * Dollar hangs just off recent highs. * U.S. CPI data due on Wednesday. * Oil turns positive. By Tom Wilson. Shares slipped and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes.
Euro zone bond yields edged higher on Tuesday as traders raised bets on a half-point interest rate hike by the European Central Bank in September, also pricing a high chance of a 75-basis-point move in the United States next month. Last week's stronger-than-expected U.S. jobs data fuelled expectations of an aggressive September rate hike by the U.S. Federal Reserve and sent bond yields surging.
Sterling strengthened against a slightly weaker dollar on Tuesday, with the outlook for UK interest rates in focus after a Bank of England official flagged a further increase. BoE Deputy Governor Dave Ramsden told Reuters the bank will probably have to raise interest rates further from their current 14-year-high to tackle inflation pressures that are gaining a foothold in Britain's economy.
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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