July 9, 2019 The Week: On Monday, the Federal Reserve announced that it was cutting interest rates for the first time since the financial crisis. The cut was seen as a response to the economic slowdown that has been seen in the U.S. and around the world. The Fed also indicated that it may cut rates further if needed. The news sent stocks soaring, and the U.S. dollar fell sharply against other major currencies. On Tuesday, the Federal Reserve released its quarterly economic report, which showed that the U.S. economy is slowing. The report showed that consumer spending, business investment, and exports were all weaker than expected. The report also showed that inflation has been running below the Fed's 2% target. On Wednesday, the Federal Reserve released the minutes from its June meeting, which showed that officials were split on the decision to cut interest rates. Some officials argued for a larger cut, while others felt that a smaller cut was sufficient. The minutes also showed that the Fed was divided on what to do next, with some arguing for further rate cuts, while others were hesitant to do so. On Thursday, the Labor Department released its monthly jobs report, which showed that the U.S.
This article examines gold’s near-term outlook, exploring various scenarios that may arise following the release of core PCE data, which is considered the Federal Reserve's preferred inflation measure.
Core PCE RisesThe US Dollar is catching a bid ahead of the weekend following yesterday’s data. The core PCE price index was seen rising to 0.4% from the prior month’s 0.1% reading. Given that the data is used by the Fed as a key inflation
Thank God! Yesterday’s inflation report from the US wasn’t worse than expected. The core PCE index showed that, yes, the monthly inflation rose at the highest pace in a year, but that the yearly figure eased from 2.9% to 2.8%. Both figures matched market expectations. As such, yesterday’s data hinted at inflation uptick in January, but the data came as a relief for those who were prepared for the worst. A soft jobless claims figure also helped cooling the hawkish Fed worries. That’s why the S&P500, Nasdaq and Russell 2000 rebounded yesterday.
Dow Jones stocks edged up, but other indexes climbed after an inflation gauge met views. AI stock C3.ai soared on the stock market today.
The FTSE 100 displayed signs of positivity on Thursday with robust gains that accelerated after US PCE data showed US inflation has slowed. Core Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation measure, came in bang in line with expectations at 2.8% for January, a decline from 2.9% in December. The data […]
Chinese stocks, though, bounced back from Wednesday's steep decline to keep them on track for their best month since November 2022 Asian equities were mostly down on Thursday, while the dollar and U.S. Treasuries were largely steady ahead of key U.S. inflation data that could provide fresh clues on when the Fed will reduce interest