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Sino-Western relations have deteriorated this year and the tech industry is front and center, but now the EV industry emerges as the next area of contention, as the EU announced an anti-subsidy probe
Watch today’s US Open for insights on the hawkish remarks by the Bank of Japan governor, the hot UK employment report and more
USD/JPY dropped and the 10-year bond yield rose after Bank of Japan Governor Ueda pointed towards an eventual exit form negative interest rates
The central banks of Europe, the US and the UK, all announce their latest decisions this month amidst uncertain outlook as they contemplate the impact of their massive tightening
Watch today’s US Open for insights on BoE governor Bailey dovish testimony, Bank of Canada rate hold after two straight hikes and Wall Street’s negative reaction to strong economic data
Watch today’s US Open for insights on the rate hold by the Australian central bank, demand for USD amidst cautious market sentiment and oil cuts extension by Saudi Arabia and Russia
The Reserve Bank of Australia kept rates unchanged for third straight meeting and last under current Governor Lowe, but once again did not shut the door on further tightening
Watch today’s US Open for insights on the US data dump, another poor PMI from China and continued fears around the property market and more
Core PCE printed at 4.2% y/y, up from the last release of 4.1% y/y, and headline inflation was higher at 3.3% y/y (compared with the previous 3% y/y). The upticks were due to base effects. Although regarded as volatile, the monthly figures for core and headline PCE were flat, and in line with projections at 0.2% m/m. This is annualised to 2.43%.
Job creation in the US decelerated for August, as indicated by the ADP report. This suggests that the U.S. economy, which has been resilient, could potentially be entering a phase of moderation due to the increased influence of elevated interest rates.
Yesterday’s JOLTS data came in at 8.83m. This was lower than the previous 9.17m and below the consensus of 9.49m. This reiterates the part of Fed Chair Jerome Powell’s Jackson Hole speech suggesting that the US labour market is continuing to rebalance. Chair Powell pointed out that “Job openings remain high but are trending lower” and that “The rebalancing of the labour market has continued over the past year but…
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