The US dollar retreated across the board versus major pairs as the dovish tone from the Fed’s latest monetary policy linger. Oil prices rose on the combination of a weak dollar and rising supply uncertainty after Iran shot down a US drone. The loonie rose as inflation data on Wednesday gives some breathing room to […]
Author: Alfonso Esparza
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month even though economic conditions don’t seem to warrant such an aggressive move, according to Goldman Sachs economists. In a substantial revision to its prior forecasts that the central bank would stand pat, Goldman now sees a likelihood of […]
The Philadelphia Federal Reserve’s manufacturing gauge tumbled this month, bolstering the Fed’s case for easier monetary policy. The Philadelphia Fed’s manufacturing index fell to 0.3 in June from 16.6 in May. That was the index’s lowest read since February, when it hit zero. The print also came in well below a Dow Jones estimate of […]
Art Hogan is more worried about the U.S.-China trade war than whether the Federal Reserve will cut interest rates. Hogan, National Securities’ chief market strategist, believes the Fed made the right decision Wednesday to communicate openness to cutting rates at its next meetings. But Hogan warns that won’t be enough to stymie a market drop […]
The number of Americans filing applications for unemployment benefits fell more than expected last week, pointing to underlying market strength despite a sharp slowdown in job growth in May. Initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 216,000 for the week ended June 15, the Labor Department said on Thursday. Data […]
Top Chinese and U.S. officials will resume trade talks in accordance with the wishes of their leaders, but China hopes the United States will create the necessary conditions for dialogue, the Chinese commerce ministry said on Thursday. Negotiations to reach a broad trade deal broke down last month after U.S. officials accused China of backing […]
The S&P 500 index hit a record high on Thursday, after the Federal Reserve indicated that it could cut interest rates as soon as next month to offset growing risks to global and domestic growth. The U.S. central bank left rates unchanged at the end of its two-day June policy meeting on Wednesday, but pledged […]
Oil rose more than 3% toward $64 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington. Expectations that the U.S. Federal Reserve could cut interest rates at its next meeting, stimulating growth in the world’s largest oil-consuming country, and a drop in […]
The Canadian dollar rose 0.23 percent on Tuesday. US President Donald Trump unlocked risk appetite this morning by tweeting that he had a telephone conversation with Chinese President Xi and agreed to meet in the sidelines of the G20 in Japan. The ECB had earlier said that it could cut rates if needed, which added […]
Oil prices fell on Thursday despite news of supply disruptions in European imports of Russian crude. Contamination concerns shutdown the Druzhba pipeline that can ship up to 1 million barrels per day. The issues will most likely be temporary, but it did boost Brent prices above the $75 price level. West Texas Intermediate was stable […]