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Week Ahead – US retail sales and UK CPI data enter the spotlight
The dollar traded on the back foot for the better half of this week due to dovish remarks by Fed officials who suggested that the surge in Treasury yields since they last met has done the work for them, implying that another hike before the end of the year may not be needed. However, Thursday’s CPIs revealed that headline inflation held steady at 3.7% y/y, instead of slowing to 3.6% as expected, encouraging market participants to bring rate hike bets back to the table. From 28%, the probability for a final quarter-point rate increment increased to around 40%, while the rate reductions penciled in for next year have ... (full story)
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We expect default rates will rise in both Europe and the US in 2024. For some time now, struggling companies have been kept afloat with the help of cheap funding, large government ...
post: *SAUDI ARABIA PUTS ISRAEL DEAL ON ICE AMID WAR: REUTERSSaudi Arabia puts Israel deal on ice amid war, engages with Iran, sources say Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war escalates between Israel and Palestinian group Hamas. The conflict has also pushed the kingdom to engage with Iran. Saudi Crown Prince Mohammed bin Salman took his first phone call from Iranian President Ebrahim Raisi as Riyadh tries to prevent a broader surge in violence across the region. The two sources told Reuters there would be a delay in the U.S.-backed talks on normalisation with Israel that was a key step for the kingdom to secure what Riyadh considers the real prize of a U.S. defence pact in exchange. Until Iran-backed Hamas sparked a war on Oct. 7 by launching a devastating attack on Israel, both Israeli and Saudi leaders had been saying they were moving steadily towards a deal that could have reshaped the Middle East. Saudi Arabia, birthplace of Islam and home to its two holiest sites, had until the latest conflict indicated it would not allow its pursuit of a U.S. defence pact be derailed even if Israel did not offer significant concessions to the Palestinians in the their bid for statehood, sources had previously said. But an approach that sidelined Palestinians would risk angering Arabs around the region, as Arab news outlets broadcast images of Palestinians killed in Israeli retaliatory airstrikes. Hamas fighters killed more than 1,300 Israelis in t
Higher long-term bond yields are not a substitute for down what needs to be done to get inflation back down to target. Macklem is more-hawkish than the Fed with this comment. post: BOC'S GOV. MACKLEM: WE'RE NOT REALLY SEEING DOWNWARD MOMENTUM IN UNDERLYING INFLATION, AND THAT IS A CONCERN. post: BoC's Gov. Macklem: -Longer run inflation expectations remain well anchored and shorter run expectations have come down but they are still too high -We will continue to face geopolitical shocks; in this environment, we need to be prepared for ongoing volatility @DailyFXTeam post: BoC's Gov. Macklem: -When the bank releases economic projections on October 25, we're not going to be forecasting a serious recession -This is adding uncertainty and monetary policy can influence demand to relieve inflationary pressures, but supply is harder to predict
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US consumers’ year-ahead inflation expectations rose sharply in early October, driving a steep deterioration in Americans’ views of their finances as well as sentiment. Americans ...
International Monetary Fund official Gita Gopinath said that it’s “troubling” that the world’s economic growth prospects in the medium term look so feeble. There are reasons to ...
The USD/JPY lost some traction influenced by falling US Treasury bond yields after softer data from the United States (US) shows Americans are growing less optimistic about the ...
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- Posted: Oct 13, 2023 11:45am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,745
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