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…
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…
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…
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…
Dollar Recovers a Touch, Inflation Data Boosts Norway’s Crown, Hurts China’s Yuan
SINGAPORE/LONDON—The dollar regained ground on Monday, partly recovering from a knee-jerk reaction to Friday data showing U.S. job gains were the smallest in two-and-a-half years, while disappointing inflation figures in China weighed on the yuan and proxies. The dollar index, which tracks the greenback against a basket of major peers, was up 0.15 percent at…
Stocks Take a Breath While Bonds Choke on China Disinflation Drag
July 10, 2023
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LONDON/SYDNEY—Global stocks took a breath on Monday after a surprisingly low reading on Chinese inflation and ahead of data on U.S. inflation and corporate earnings later in the week. The pan-European STOXX 600 index rose 0.1 percent by 0840 GMT while US stock S&P futures declined 0.2 percent and Nasdaq futures fell by 0.3 percent….
Treasury Secretary Says US Recession ‘Not Completely Off the Table’
Treasury Secretary Janet Yellen said that a U.S. recession is still “not completely off the table” in the near future, but she claimed the country is on the right path in bringing down decades-high inflation. “It’s not completely off the table,” Ms. Yellen told CBS News’ “Face the Nation” on Sunday about a possible recession…
Walmart’s Bill Simon Says Inflation Having ‘Much Bigger Impact’ on Households Than Looming Recession
As analysts ponder whether inflation in the United States has turned a corner following the latest data, a former Walmart U.S. chief executive says that inflationary pressures are here to stay longer and will hurt American households more than the looming recession. Former Walmart U.S. CEO Bill Simon told Fox News in a recent interview…
Clear Signs US Jobs Market is Cooling: Analyst
July 7, 2023
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The U.S. economy added 209,000 jobs last month. This is the lowest number of jobs added in over 2 years, and comes in below analyst expectations for the first time in 13 months. Is the U.S. economy’s growth slowing? Are the federal reserve’s interest rate hikes finally having an impact? NTD speaks with a labor…
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