Risk-off sentiment dominates Asian markets today, as the Chinese Yuan’s free fall accelerates. The steep depreciation could limit the room for the government to ease monetary policy further to help the economy that’s still troubled Read more…
Australia retail sales turnover rose 0.6% mom to AUD 34.88B in August, slightly above expectation of 0.5% mom. That’s the eighth consecutive monthly increase. Ben Dorber, head of retail statistics at the ABS, said: “This Read more…
UK BRC shop price index accelerated from 5.1% yoy to 5.7% yoy in August, another record increase since the index began in 2005. Food inflation surged from 9.3% yoy to 10.6% yoy. Non-food inflation also Read more…
Philadelphia Fed President Patrick Harker said in an article, “inflation is far too high across most goods and services in our economy. But I find shelter inflation, along with food inflation, particularly alarming…. We must do Read more…
Minneapolis Fed Bank President Neel Kashkari said yesterday, “We are moving very aggressively. There’s a lot of tightening in the pipeline. We are committed to restoring price stability but we also recognize given these lags Read more…
With the Fed trying to get on top of inflation no matter what it takes and showing no interest to come to investors’ rescue, traders will keep looking for any cracks within the US economy Read more…
Key Highlights Gold price extended losses below the $1,650 support. A major bearish trend line is forming with resistance near $1,650 on the 4-hours chart. EUR/USD and GBP/USD might start a fresh downward move. USD/JPY Read more…
You will have seen the collapse in the British pound amid fears the UK economy is in a mess with negative growth at the same time when borrowing costs and inflation are both surging higher. Read more…
AUDUSD broke key support level 0.6500 Likely to fall to support level 0.6300 AUDUSD currency pair recently broke the key support level 0.6500 coinciding with the support trendline of the wide down channel from the Read more…