Friday’s Non-Farm Payrolls dished out a huge surprise, rolling out a gigantic miss to the downside as the US economy added only 235,000 jobs. Despite a sizeable upward revision of 133,000 to the previous month, nothing was going to offset the shock of the miss in the headline data. Household employment performed strongly, helping to […]
While investors will continue monitoring upcoming economic data, including home sales and personal spending, what they’re really looking forward to is the Fed’s annual symposium at Jackson Hole which usually takes place in person, but because of rising COVID cases in the US and worldwide, will this year take place online. It begins at the […]
As the busiest week of the current earnings season came to a close on Friday, stocks ended lower, pressured by signs of weakness from the very mega cap companies that, over the past year, boosted the market to new highs. Here are the key market moving factors for the week: The US The […]
The virus is once again raising the prospects of slowing the economic recovery that was unevenly unfolding. The preliminary July PMI for Australia, UK, France, and the US was disappointed. Expectations for the trajectory of monetary policy are being impacted. Consider that the implied yield of the December 2022 Eurodollar futures fell to 40 bp […]
Inflationary pressures are showing no signs of easing just yet and the market will soon look to test the Fed’s patience. The dollar has been stuck in a tight trading range since the middle of June, but that could soon change if the rest of the world shifts to a tightening mode more quickly than […]
Global stocks are all over the place as some indexes fall into correction while others continue to extend higher into record territory. The bond market volatility surprised many investors as the growth outlook took a massive hit with the spread of the Delta coronavirus variant showing many countries are still struggling to return to normal. […]
Previously, the US nonfarm payrolls beat market expectations on the upside, with hiring accelerating in June as labor market supply constraints eased. 850k new jobs added,marking the highest reading in 10 months. Average hourly earnings rose 0.3% MoM and 3.6% YoY, reflecting strong demand for labor. This week, Wednesday’s Federal Reserve meeting minutes may give […]
Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the U.S. Federal Reserve, while the Treasury yield curve flattened further with 30-year yields dropping below 2%. Though investors have been spoiled by the most generous stimulus ever, both from the Fed and the Biden Administration, a […]
The Federal Reserve’s Open Market Committee meeting is the most important event in the week ahead. It is not that it will take fresh policy action. Rather, its observations about the economy and its forward guidance are the focus. Since the Fed last met in April, job growth has slowed, and prices have accelerated. While […]
US CPI DATA: Possible Impact on GOLD | TAPERING to guide the further direction If the US CPI print comes in hotter than the consensus of a 0.4% rise in May, it will ramp up the Fed’s tapering expectation, which will render negative for the non-yielding gold. The ECB could also hint towards dialling back […]
