The price of gold surpassed the milestone of $2,200 per ounce for the first time following the Federal Reserve’s announcement maintaining its projection for three rate cuts this year, signaling a lack of concern over recent inflationary pressures. In early trading, gold soared by as much as 1.6%, reaching a record high of $2,220.89 per ounce, […]

Traders are intensifying their short positions on Treasury securities in anticipation of the Federal Reserve’s decision scheduled for later on Wednesday, with expectations leaning towards the central bank maintaining rates at their current level for the fifth consecutive meeting. All eyes are on the forthcoming summary of the Fed’s economic projections, which will unveil whether the persistently

The yen experienced a decline following the Bank of Japan’s announcement that it would persist in buying government bonds, despite ceasing the world’s last remaining negative rates policy and abandoning other unconventional measures, including yield curve control. Simultaneously, the Australian dollar appeared poised to reach its lowest level in approximately two weeks, while Australia’s stock market continued its upward

Anticipation is rife among Bank of Japan (BOJ) observers, with a staggering 90% of them predicting authorities will discard their negative-rate policy come Tuesday. The speculation gained traction following news of Japan’s largest union group securing the most robust wage agreements in over three decades. In response, the yen exhibited weakness against the dollar, while stock markets

The Producer Price Index (PPI), often considered a leading indicator of inflation, appears to have hit a trough, dampening expectations for a Federal Reserve interest rate cut. Analysts anticipate the Fed to maintain its current interest rate levels at the March 19-20 meeting, marking the fifth consecutive gathering without a change in rates. Following recent

Investors are closely monitoring the release of US producer price data today, seeking insights that could corroborate or challenge the robust Consumer Price Index (CPI) report earlier this week. This anticipation is contributing to a subdued level of volatility in today’s Asian session, particularly given the absence of significant economic data. As market participants await

As the Federal Reserve prepares for its upcoming meeting on March 19-20, market analysts widely anticipate that interest rates will remain unchanged for the fifth consecutive session. However, investors are eagerly awaiting insights from the Federal Open Market Committee’s (FOMC) quarterly forecasts on rates, particularly in light of recent developments in employment and inflation data.

Following a surge in U.S. stocks to record highs propelled by in-line inflation data, attention turned to the release of the U.S. Personal Consumption Expenditures (PCE) report. Despite expectations, the report failed to alleviate broader concerns regarding disinflationary trends, reinforcing forecasts for potential rate cuts. As anticipation builds for potential rate adjustments in the coming year, discussions

The decline in U.S. stocks on Wednesday followed robust consumer spending data, despite a minor revision to fourth-quarter 2023 U.S. gross domestic product (GDP) growth. The report, released ahead of the Federal Reserve’s preferred inflation gauge due Thursday, echoed the cautious sentiments expressed by Fed officials in recent weeks. New York Fed President John Williams emphasized the central

The New Zealand dollar experienced a notable decline, slipping 1% alongside government bond yields following the Reserve Bank of New Zealand’s (RBNZ) less hawkish commentary on inflation. The central bank’s remarks highlighted a decrease in most measures of price expectations, leading to a subdued market response. As anticipated by economists, the RBNZ maintained its policy rates unchanged.