EUR/USD 1.14941
0.269%
Gold 4375.28
2.612%
Oil 95.736
-1.789%
USD/JPY 155.627
-0.415%
GBP/USD 1.33758
-0.030%
GBP/JPY 208.171
-0.442%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 17th, when asked whether it was reasonable for the market to price in nearly four interest rate hikes within the next year, Bank of England Governor Bailey said on Thursday that the outlook was too unpredictable, adding that his officials had not yet discussed this. "Weve had a lot of discussions this time, but we havent discussed the prospect of four rate hikes," Bailey told the media after the Bank of England kept interest rates unchanged but warned of rising inflationary pressures. He added, "The market has to form its own judgment, but I must point out: the current situation... is simply too unpredictable." Bailey stated that the state of the UK gilt market—with the 30-year gilt yield hitting its highest level since 1998 this week—did not influence the banks announcement. Bailey said, "We planned this work long before the Middle East conflict, so this is not at all a reaction to market conditions."The U.S. pending home sales index fell 4.9% year-over-year in August, compared with a forecast of -3.9% and a previous reading of -2.50%.The U.S. pending home sales index rose 0.3% month-over-month in August, compared with expectations of -0.6% and a revised previous reading of -2.6% (from -2.30%).The U.S. pending home sales index for August was 71.2, revised from 71.2 in the previous month.Israels Permanent Representative to the United Nations: Our message to the Syrian government is very clear: if you wish to reintegrate into the international community, you must ensure that Syria is not used as a platform for terrorist activities or an arena for foreign powers to vie for power.

AUD / USD Rises To 0.6640 As Australian Employment Improves

Daniel Rogers

Mar 16, 2023 14:12

As a consequence of the upbeat Employment data from the Australian Bureau of Statistics, the AUD/USD pair has extended its recovery to near 0.6640. The Australian economy added 64,600 new employment in February, exceeding the consensus estimate of 48,500. The Australian economy reported 11.5K unemployment in January. From estimates of 3.6% and the previous issuance of 3.7%, the unemployment rate has been further reduced to 3.5%.

 

The Reserve Bank of Australia (RBA), which is drafting a plan to reduce inflation, will encounter additional challenges as a consequence of positive Australian labor market data. As a larger labor force in action would exacerbate inflationary pressures, RBA Governor Philip Lowe may continue to target higher rates.

 

Earlier, Australian Consumer Inflation Expectations (Mar) data indicated that inflation projections for the next 12 months decreased to 5.0% from the consensus of 5.4% and the previous release of 5.1%.

 

In the meantime, S&P500 futures are showing modest gains during the Asian session, which could be considered a dead cat bounce following the volatility on Wednesday. The debacle of Credit Suisse following the failure of Silicon Valley Bank (SVB) has increased the risk of global banking turmoil. According to one school of thought, the Federal Reserve (Fed) and other western central banks' rapid and precipitous interest rate increases contributed to the collapse of the global banking system.

 

As investors anticipate a less hawkish interest rate decision from the Federal Reserve (Fed) next week, the US Dollar Index (DXY) is looking to extend its correction below 104.60. After a fleeting upswing in January, the United States' inflation has retreated, dampening expectations for a hawkish stance from Fed chair Jerome Powell.


Suggestion