HAWKISH FED
Crypto Price Today: Bitcoin, Ethereum fall up to 3% on Fed’s hawkish tone; Solana, Cardano defy trends with 2% gain
While Bitcoin’s (BTC) resilience over the last one hour was palpable, this crypto asset is still trading down nearly 3% from the previous session. Around 12 pm today, it was trading at $61,035.66. The slide in BTC had an impact on other altcoins including Ethereum (ETH), Tether, Dogecoin, Avalanche, and Shiba Inu which were down by up to 2.5%.
Commodity Talk: Silver down by Rs 5,000/kg in June. Is it setback to Rs 1 lakh target in 2024?
We do see further corrective moves of upto 2 – 3 % in prices in case US macro cues support the dollar further in near term. However silver is still expected to witness new all time highs this year driven by concerns of 2 rate cuts to persist driving investment demand in white metal.
Hawkish Fed, other bearish factors hurting gold
The ten-year US yields at 4.38% were up 2.28% on the day and were up around 4% on the week. The two-year yields were up 0.20% on the week as they closed around 4.75%
US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
China's yuan eases to 7-month low on weak fixing, hawkish Fed
The yuan weakens against the dollar due to central bank guidance and speculation on USDCNY pair. Federal Reserve's hawkish stance delays interest rate cuts. Foreign investors avoid China's struggling stock market, impacting the offshore yuan. The dollar maintains stability against major currencies supported by positive U.S. housing market data.
Gold Price Today: Yellow metal trades flat; silver down by Rs 2,400
MCX gold August futures fell by Rs 151 in June while silver MCX July futures dropped by Rs 6,390. Prices showed high volatility due to U.S. housing data and dollar index strength.
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Asian stocks rise on tech rally, Fed rate cut wagers
Asian shares rose to a three-week high driven by tech stock rally as the dollar struggled post soft U.S. retail sales data, hinting at potential Fed rate cuts.
Dollar wobbles as markets await more Fed clues; RBA meeting in focus
The dollar weakened against the euro and sterling as concerns about a far-right French government eased. Market focus shifted to key reports and comments from the Federal Reserve for rate cut clues.
US stocks retreat with data, Fed comments in focus
Wall Street's main indexes edged lower on Monday as investors awaited fresh economic data and comments from Federal Reserve officials throughout the week for more clarity on monetary policy.
EM bond rally threatened as hawkish flags multiply
The balmy days of dovish monetary policy that fuelled a rally in emerging-market bonds looks to be over as central banks across the developing world turn more hawkish.
The market is blowing off what the Fed is saying about rates
The central bank’s projections for fewer rate cuts this year and Powell’s seemingly hawkish comments at his press conference on Wednesday didn’t prevent the S&P 500 Index from eclipsing 5,400 for the first time ever, which also happened on Wednesday and held through at least Friday. The benchmark is up more than 50% since hitting a bottom in October 2022, during a bear market triggered by the Fed’s drastic interest rate increases that started in March 2022 and were aimed at taming runaway inflation.
Dollar gains on hawkish Fed, even as inflation cools
The dollar strengthened despite weak U.S. producer price data for May, following a hawkish Federal Reserve meeting. U.S. producer prices fell unexpectedly in May, with core prices remaining flat. The Federal Reserve's stance on interest rates also influenced the dollar's performance.
Is Fed FOMC outcome hawkish or dovish? Here's is what Street says
The US Federal Reserve maintained rates at 5.25-5.50% in its June monetary policy, with Chair Jerome Powell expressing caution about the inflation outlook and the need for data revision. Experts weigh in on the decision.
European shares open lower as Fed trims rate-cut projections
European shares edged lower on Thursday as U.S. Federal Reserve's hawkish stance on rate cuts weighed down sentiment. STOXX 600 down 0.2%, rebounding from previous session's 1.2% gain. BT rose 2.5% after Carlos Slim's stake acquisition in UK's largest broadband operator.
Bond market splits from Fed again by betting on 2024 rate cuts
Bond traders increased bets on interest-rate cuts despite Federal Reserve pushback. Inflation cooling signaled potential rate cuts. Powell emphasized no rush to shift policy, waiting for more evidence against inflation.
Gold price movement: Fed action impact & what history suggests in a falling rate regime?
Gold investors await the outcome of the Federal Open Market Committee (FOMC) meeting for insights on the US Federal Reserve's interest rate cut impact. The European Central Bank and Bank of Canada have already reduced policy rates.
Dollar firm ahead of key inflation test, Fed forecast update
The dollar strengthened against the euro and yen ahead of U.S. inflation data and Fed rate forecasts. Analysts expect minimal Fed rate cuts and a possible reduction in BOJ's bond purchases. Yen stability is crucial for Japan's inflation and wage growth efforts.
Gold records its worst weekly fall this year on hawkish Fed minutes
April's preliminary US economic data shows unexpected strength in durable goods orders, rising 0.70% against a predicted -0.80% decline. Even excluding transportation, the sector grew 0.4%, surpassing the 0.20% forecast. Consumer sentiment, measured by the University of Michigan, also improved to 69.10 from 67.70. However, inflation expectations for the next year and five to ten years fell slightly below predictions, at 3.30% and 3.00%, respectively.
Asian stocks fall, dollar rises as rate cut wagers waver
Asian stocks fell on Friday as strong U.S. economic data boosted the prospect of higher interest rates, affecting Asian-Pacific shares outside Japan, with Japan's Nikkei and China stocks also impacted. China's military conducted war games around Taiwan, impacting Hong Kong's Hang Seng Index, while Prashant Newnaha commented on the market and Fed's stance. Benchmark U.S.
Gold slips to over one-week low on hawkish Fed, US data
Gold prices fell on Thursday due to concerns over U.S. rate cut timings and strong U.S. business activity, with spot gold declining 1.4% to $2,346.07 per ounce. This was its lowest since May 14, as of 1557 GMT.
Dollar hovers near highest in a week after hawkish Fed minutes
Ether continued to hover near Tuesday's more than two-month peak amid speculation over the potential approval of U.S. spot exchange-traded funds that would track the world's second-biggest cryptocurrency.
RBI may delay plan to ease interest rates
The RBI has raised the benchmark policy rates by 250 basis points (one bps is 0.01 percentage point) since May 2022 as inflation surged way beyond the central bank's 4% target. But inflation is slowly aligning with the target, although concerns remain over the trajectory for food inflation.
Rate easing may have to wait, highlights RBI in its latest bulletin
“A modest easing of headline inflation in the reading for April 2024 confirms the expectation that an uneven and lagged pace of alignment with the target is underway” wrote the Reserve Bank of India deputy governor Michael Patra and his team in their assessment of the economy published in the latest monthly Bulletin.
Sensex drops 200 points on US Fed's hawkish comments, FII selling; Nifty below 22,500
Indian equity indices dipped on hawkish U.S. Federal Reserve comments and pre-election foreign selling. Market volatility persisted with mixed sectoral performance. Foreign investor selling and domestic institutional buying influenced market stability.
Asia shares rise on rate cut bets; RBA seen turning hawkish
Demand will be tested at a $58 billion three-year note auction on Tuesday, which is followed by $42 billion in 10-year sales on Wednesday and $25 billion of 30-year sales on Thursday.
Fragile yen could make BOJ's Ueda tilt more towards hawkish stance
The BOJ chief will be mindful of avoiding the episode of 2022, when his predecessor's dovish remarks triggered a yen plunge that forced Tokyo to intervene to prop up the currency.
US stocks gain as services sector data eases fears of hawkish Fed stance
Wall Street's main indexes rose on softer services sector data, easing concerns about cautious monetary policy. Investors focused on upcoming jobs report to assess the U.S. economy's strength and potential Fed rate cuts.
Dollar gains on euro with Fed's Waller hawkish on rates
The dollar gained on the euro on Thursday after a U.S. Federal Reserve policy maker said he wasn't in a hurry to cut rates, while traders also prepared for key U.S. economic data due on Friday and squared positions for month- and quarter-end.
Gold retreats to near one-week low on hawkish Fed comments
GLOBAL-Gold retreats to near one-week low on hawkish Fed comments
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