US Open– 6 June 2023 (Video)
Watch today’s US Open for insights on Saudi Arabia’s additional oil output cut, the new hawkish surprise by the central bank of Australia, Apple’s mixed reality headset announcement and more
The economy of a nation is the engine that drives prosperity and creates wealth for that country and its citizens. A nation's utilization of its available resources and manpower has a great influence upon its overall economic prowess. Factors such as governmental structure, access to valuable commodities, size and sophistication of the labor force, and relations with trade partners are all key components of achieving economic stability. Governmental politics play a crucial role in the resolution of many issues facing a nation. The potential impact upon international markets of U.S. President-elect Trump's economic policies, tensions between Russia and NATO, and…
Watch today’s US Open for insights on Saudi Arabia’s additional oil output cut, the new hawkish surprise by the central bank of Australia, Apple’s mixed reality headset announcement and more
Last Friday’s NFP surprised to the upside printing at 339K – 193K was expected. Fed speakers talk about a skip in rate hikes and markets have repriced around this. Saudi Arabia announced a 1 million barrels/day cut for the month of July with an option to extend. The Reserve Bank of Australia surprised markets with a 25-bps hike but Bank of Canada is still expected to hold. On Friday we…
Australia’s central bank hiked interest rates again to the highest level in more than ten years, against baseline expectations for a hold, as inflation remains high despite its moderation
The US is predominantly a services-based economy. This makes the ISM non-manufacturing data particularly interesting. May’s figure was released today, printing at 50.3, down from 51.90 for April. This is a five-month low. When the numerical is above 50, companies are experiencing growth and expansion. The prices component of the survey came in at 56.2. This is down from 59.6 in April. The Fed is worried that services-based inflation is…
Watch today’s US Open for insights on the recent comments by Fed & ECB policymakers, the latest on the US debt ceiling and more
Markets had come to expect another rate hike in June after the hot PCE inflation figures, but two Fed voters advocated in favor of a skip on Wednesday, causing another repricing ahead of Friday’s key jobs report
FXCM’s CHN50 and HKG33 CFDs have charted a lower peak followed by a lower trough. This puts the indexes into downtrend.
Watch today’s US Open for insights on the latest around the US debt ceiling, the hot PCE inflation data that added to the hawkish repricing around the Fed’s rate path and more
Last week saw inflation coming in ahead of expectations. This has led to markets repricing the path of Fed hikes. US GDP came in better that expected but German GDP reflects technical recession. After a 90-minute call on Saturday, there is a debt ceiling deal which needs to be ratified by both Houses. Non-Farm Payrolls will be released this Friday, providing the next clue for rates. Listen in for these…
The core PCE was higher than the consensus of 4.6% y/y, printing at 4.7% y/y. The previous reading was 4.6% y/y. On a monthly basis, it came in at 0.4% (4.9% - annualised), higher than the 0.3% expected.
Watch today’s US Open for insights on the latest around the US debt ceiling and Fed-speak, the dovish shock by the Reserve Bank of New Zealand, the UK inflation data that keeps pressure for more rate hikes, NVIDIA’s AI-driven strong quarterly report and more
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