Category Finance

Earlier today, the European surveys from S&P Global missed the mark, briefly weighing on the euro and pound. Those have since rebounded as the risk mood improves. Up next is the US version. The services PMI has been flying high lately and rise to a two-year high. This…

The major indices are trading mixed to start taking new trading day and the new trading week: Dow industrial average -2.89 points or -0.01% at 42060.47S&P index up 5.69 points or 0.10% at 5708.24NASDAQ index up 23.13 points or 0.13% at 17971.45. The small-cap Russell 2000 trading up…

Prior was 55.7 (best in two years)Manufacturing 47.0 vs 48.5 expectedPrior manufacturing 47.9Composite 54.4 vs 54.6 prioraverage prices charged for goods and services rising at the fastest rate since MarchRates of selling price inflation moved up to six-month highs in both manufacturing and services, in both cases running…

Sector Overview The US stock market heatmap today highlights mixed performances across various sectors. The technology sector is showing neutral to positive movements with Nvidia (NVDA) gaining 0.30% and Meta (META) rising by 1.33%, indicating some confidence in these tech giants. In contrast, Microsoft (MSFT) saw a slight…

The EURUSD moved higher to test the 100 hour MA, but did find willing sellers. The flash PMI was weaker but the inflation data was higher with S&P Global saying, the “prices charged for goods and services are both rising at the fastest rate support six months”. The…

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As the North American session begins, the AUD is the strongest and the EUR is the weakest. The USD is mostly, but modestly lower. Overnight in China, authorities announced that PBOC Governor Pan Gongsheng will hold a press conference on financial support for economic development. Shortly after that…

We won’t declare mission accomplished on inflation.The labour market is strong, want to keep it that way.Fed policy is still in a net tight position.An uptick in unemployment is a bigger risk than inflation.There is lots of ambiguity around what the neutral rate level is.I expect smaller steps…

Let’s take a step towards neutral, recognizing that we’re tightLots of ambiguity around what neutral level isFed policy is still in net tight positionLabor market is strong, want to keep it that way50 bps was a meaningful step to get process movingNo one on the committee was saying…

Recent dots show a fair amount of dispersion in opinion at the Fed.The range of views about the path forward and debate over neutral is robust.The Fed is not in mad dash to neutral, in favour of not rushing to judgement or assuming the job is done on…