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The US Dollar Consolidates after Powell Sapped its Mojo
Federal Reserve Chair Powell's offered a stronger case for a pause in the monetary tightening before the weekend and this sapped the dollar's mojo. The greenback is mostly consolidating through the European morning in quiet turnover. The JP Morgan Emerging Market Currency Index is trying to snap a four-day decline. The South African rand is recovering from its recent slide and is up nearly 1%. The South Korea won is benefitting from China's decision to ban Micron chips. On the other hand, the high-flying Mexican peso is extending last week's 1.1% decline and is the weakest among emerging market currencies today with ... (full story)
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post at 10:30am: U.S. HOUSEHOLDS REPORT DECLINE IN FINANCIAL WELL-BEING - FEDERAL RESERVE SURVEY FED: ONE THIRD OF HOUSEHOLDS CITED INFLATION AS THEIR MAIN FINANCIAL CHALLENGE FED: 73% OF RESPONDENTS SAY THEY WERE DOING 'AT LEAST OKAY FINANCIALLY' IN 2022 VS 78% IN 2021Federal Reserve Board issues Economic Well-Being of U.S. Households in 2022 report The Federal Reserve Board on Monday issued its Economic Well-Being of U.S. Households in 2022 report, which examines the financial lives of U.S. adults and their families. Overall, the report shows that higher prices have negatively affected most households and overall financial well-being declined over the prior year, though workers continued to benefit from a strong labor market. The report draws from the Board's tenth annual Survey of Household Economics and Decisionmaking, or SHED, which was conducted in October of last year. The report discusses findings related to financial well-being, income, expenses, employment, banking and credit, housing, retirement and investments, and higher education and student loans. The report, fact sheet, downloadable data, data visualizations, and a video summarizing the survey's findings are found here. The report indicates that self-reported financial well-being declined in 2022, in part reflecting ongoing concerns about higher prices. In the fourth quarter of 2022, 73 percent of adults reported either doing okay or living comfortably financially, down 5 percentage points from the previous year and among the lowest levels observed since 2016. Consistent with these changes in overall financial well-being, fewer adults reported havin
post at 10:25am: ECB'S VILLEROY: THE PRIMARY QUESTION TODAY IS NOT HOW MUCH FURTHER TO HIKE RATES, BUT HOW LARGE IS THE PASS-THROUGH OF WHAT IS ALREADY IN THE PIPE. post at 10:25am: ECB'S VILLEROY: UNDERLYING PRICE PRESSURES ARE DISPLAYING PERSISTENCE. post at 10:35am: ECB’s Villeroy: In Current Tightening Cycle, the Lag in Policy Transmission May Be at the Upper End of 1-2 Yr Range post at 10:43am: *ECB’s Villeroy: ECB Clearly Already in Restrictive Territory post at 10:43am: ECB’s Villeroy: I Expect Today That We Will Be at the Terminal Rate Not Later Than September
post at 10:06am: Large Explosion near The Pentagon Complex in Washington D.C. - Initial Report post at 10:17am: Twitter account that reported about explosion near the Pentagon has deleted the tweet https://t.co/lP2HvLh6SfStocks Briefly Spooked By Unconfirmed Report Of Explosion Near Pentagon The S&P 500 kneejerked notably lower this morning after headlines hit social media of an explosion near the Pentagon. chart While completely unconfirmed, a number of media outlets are showing the images (and some are deleting it already)... tweet Many reactions are that this is fake. If so, the most important question is - who started it? Developing... post at 10:24am: ?*PENTAGON SPOKESPERSON SAYS NO EXPLOSION HERE THIS MORNING
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post at 11:15am: *Fed’s Daly: Want to See Ongoing Slowing in Supercore Inflation post at 11:17am: Fed's Daly: Prudent To Refrain From Commenting On Fed Policy Action - Declines To Comment On Fed Action At June Meeting - Wants To See If Policy Tightening Is Affecting Economy post at 11:19am: *Fed’s Daly: Hard to Figure Out What is Slowing US Economy Right Now post at 11:22am: *Fed’s Daly: Should Be Mindful Policy Lags Could Show Up Any Time post at 11:32am: Fed’s Daly: Global Tightening Cycle Has Slowed Activity Less Than Expected
Federal Reserve Bank of St. Louis President James Bullard said he expects the central bank will need to raise interest rates twice more this year to quell inflation. “I think ...
The euro is trading quietly at the start of the week, just above the 1.08 line. EUR/USD stabilized on Friday, after a 3-day skid which saw the euro drop as low as 1.0760, its ...
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- Posted: May 22, 2023 10:37am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,673
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