Category: Macro
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Fed Maintains Rate Cut Projections, U.S. Stocks Hit Record Highs Amid Growth Optimism
In a significant development that has buoyed the U.S. stock market to record levels, the Federal Reserve has affirmed its stance on rate cuts for 2024, despite witnessing stronger-than-expected economic growth. This announcement comes as a relief to investors who had been adjusting their expectations for the central bank’s easing measures amidst signs of robust…
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Federal Reserve Holds Rates Steady, Market Responds Positively Amid Future Cut Projections
In a move widely anticipated by investors, the Federal Open Market Committee (FOMC) maintained interest rates within the 5.25% to 5.50% range this Wednesday. This decision aligns with the consensus view among market participants and follows the FOMC’s “Dot-Plot” report projections, which indicate an expectation for three 25 basis-point cuts throughout the year. Shortly after…
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US housing starts up by 10.7% in February
Privately‐owned housing starts in the United States saw a monthly increase of 10.7% in February to reach 1,521,000, the US Census Bureau unveiled in its report published on Tuesday. Compared to February 2023, the figure went up by 5.9%. Single-family housing starts rose by 11.6% on a monthly basis to hit 1,129,000. Privately‐owned housing completions…
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Regulatory Proposal Targets Bank ‘Window Dressing,’ Impacting U.S. Funding
Global regulators’ new proposal to adjust the calculation of key risk metrics for major banks could impact their short-term funding operations in the U.S., marking another step in the ongoing push for stricter capital regulations. This initiative targets the end-of-year practice known as “window dressing,” where banks manage their business to minimize the capital surcharge…
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News Highlights : Top Global Markets News of the Day – Wednesday
S&P 500 Hits New Record After Hot Inflation Data All three major indexes closed in the green, led higher by the Nasdaq. Frothy U.S. Stock Market Just Isn’t Crazy Enough to Be a Bubble Artificial intelligence and other sectors are inflated for sure, but to this columnist speculative mania isn’t evident. How China Tried to…
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Global Financial Markets Brace for Key Economic Indicators
Financial markets worldwide are gearing up for a crucial week filled with significant economic updates. In the United States, the spotlight will be on the inflation rate, retail sales, producer inflation, the Michigan consumer sentiment index, and industrial production. Across the pond, the UK will focus on its unemployment rate, industrial production, GDP growth for…
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Payroll: US Creates 275,000 Jobs in February, Surpassing Expectations
The US saw a notable addition of 275,000 nonfarm payroll jobs in February, as reported by the Bureau of Labor Statistics on Friday. Although this figure fell short of January’s 353,000 job gains, it exceeded expectations set by analysts. Analysts’ estimates, according to the LSEG consensus, were for the creation of 200,000 jobs in the…
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Powell: We are well aware of the risk of cutting rates too late
United States Federal Reserve Board Chairman Jerome Powell emphasized on Thursday, during his speech before the House Financial Services Committee, that the central bank acknowledges the potential consequences of delaying interest rate cuts. “Reducing policy restraint too soon or too much could result in a reversal of progress we have seen in inflation and ultimately…
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US trade deficit up 5.1% to $67.4B in January
The goods and services trade deficit in the United States reached $67.4 billion in January, rising 5.1% from December, according to the latest report by the Census Bureau on Thursday. Exports grew 0.1% on a monthly basis in January, standing at $257.2 billion. Meanwhile, imports were up 1.1% month-on-month, amounting to $324.6 billion. Compared to…
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European Central Bank holds interest rates steady
The European Central Bank (ECB) shared on Thursday that it will keep its interest rates unchanged for the fourth consecutive time in a row since last year. The interest rate on the main refinancing operations will remain at 4.50%, on the marginal lending facility and the rate on the deposit facility being kept at 4.75%…