LONDON—Bets on a screeching slowdown in U.S. inflation data later saw traders shove the dollar to a 2-month low on Wednesday and push stocks up and bond market borrowing costs down for a third day running. Economists polled by Reuters expect to see June U.S. consumer price inflation slow to 3.1 percent from 4 percent…
Dollar Hits 2-month Low Before US Inflation Data
July 12, 2023
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Businesses at Risk as Record High Default Rates Raise Alarm Bells
More and more Australian businesses are facing insolvency risk as trade payment defaults reached a record high in June due to the impacts of inflation and interest rate hikes. According to a new report by CreditorWatch, a credit reporting agency, business-to-business trade payment defaults rose to 1,586 cases in June, up 52 percent from a…
Used-Car Prices Tumble in Largest Drop Since the Pandemic
July 11, 2023
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Wholesale used-car prices tumbled for a third straight month in June, in the largest drop since the start of the pandemic in 2020. Prices in that sector, dropped by 4.2 percent from May to June, according to a Cox Automotive’s Mannheim Used Vehicle Value Index (MUVVI), a measurement of wholesale prices of used vehicles, fell 10.3…
US Stocks Open Higher Ahead of Inflation Numbers
Wall Street’s main indexes opened higher on Tuesday ahead of key inflation data this week, with investors hopeful that a slowdown in price increases could support a sooner-than-expected end to the Federal Reserve’s policy of rapid monetary tightening. The Dow Jones Industrial Average rose 112.54 points, or 0.33 percent, at the open to 34,056.94. The…
Dollar Falls to 2-month Low, Sterling Hits 15-month High After Jobs Data
LONDON—The dollar weakened to a two-month low on Tuesday after Federal Reserve officials signalled that the central bank was nearing the end of its tightening cycle, while the pound hit a 15-month high after pay growth exceeded expectations. Several Fed officials said on Monday the central bank would likely need to raise interest rates further…
Record Wage Rises Fuel Fresh Inflation Concerns
Wages have been rising at a record speed according to official data, fuelling fears that inflation could remain at a high level and force the Bank of England (BoE) to raise interest rates further. New data released by the Office for National Statistics (ONS) on Tuesday shows that employees’ regular pay, not including bonuses, was…
Stock Market Today: Global Shares Rise Ahead of US Inflation Update on Hopes for Easing Rate Hikes
July 11, 2023
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BEIJING—Global stock markets rose Tuesday ahead of a U.S. inflation update traders hope will show the need for more interest rate hikes is easing. Paris, Shanghai, Frankfurt, and Tokyo advanced. Wall Street futures were little-changed. Oil prices rose. Wall Street’s benchmark S&P 500 index gained 0.2 percent on Monday following its second weekly decline in…
Interest Rates Likely to be Raised ‘Couple’ More Times This Year: Fed Official
Interest rates are likely to be raised a “couple” of more times this year as inflation is still far too high, says the head of the Federal Reserve Bank of San Francisco. Despite price pressures slowing, San Francisco Fed Bank President Mary Daly believes the institution needs to continue raising interest rates, a policy decision…
Interest Rates Likely to Be Raised ‘a Couple’ More Times This Year: Fed Official
Interest rates are likely to be raised “a couple” more times this year as inflation is still far too high, the head of the Federal Reserve Bank of San Francisco says. While price pressures are slowing, San Francisco Fed President Mary Daly says the central bank needs to continue raising interest rates, a policy decision…
The Fed’s Conundrum Continues: How Many More Rate Rises?
July 10, 2023
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Commentary We’re squarely in the dog days of summer, which in Hellenistic astrology is connected to bad luck, lethargy, and, of course, hot and humid weather. These are the days when economists and market watchers would love to shut down and go away for the summer. But for Chair Jerome Powell and the U.S. Federal…
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