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The commodity market suffered another stress last week. On Monday, the situation reached stability, but it remains quite complicated; Brent is trading at $95.60. The asset closed last trading week near its 5-month lows. The key reason for these negative vibes is the same global expectations of a worldwide recession. Economic slumps all over the… […]
This week expect to see more follow through price action from Non-Farm Payrolls and the BOE. In addition, watch the data to see if inflation has peaked or continued higher. Last week, the US Non-Farm Payroll print of 528,000 more than doubled the expectation of 250,000. In addition, the Average Hourly earnings rose by 0.4%. […]
The strong set of job market data seemed to have cleared much concern over recession in the US, and set the tone for the financial markets. Benchmark treasury yields jumped as traders added bets on the Fed continuing with the current pace of tightening beyond neutral. Stocks markets were resiliently firm despite that and look […]
Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. Baidu BEIJING — Chinese tech company Baidu said Monday it has become the first robotaxi operator in China to obtain permits for selling rides with no human driver or staff member inside the vehicles. The local […]
Federal Reserve Governor Michelle Bowman said Saturday she supports the central bank’s recent big rate increases and believes they should continue. Signal2frex feedbacks The post Fed Governor Bowman sees ‘similarly sized’ rate hikes ahead after three-quarter point moves first appeared on Forex robots store.
USDCAD shifted to the sidelines immediately after charting a new lower low at 1.2766 in the short-term picture, unable to reach the constraining 20-day simple moving average (SMA). The technical indicators state a bearish-to-neutral bias as the RSI keeps flattening marginally below its 50 neutral mark and the MACD is extending its short horizontal move… […]
GBPJPY pulled back to test the support trendline at 161.00, which connects the lows from spring, after a failed attempt to pierce its 20- and 50-day simple moving averages (SMAs) around 164.00 on Thursday. From a technical perspective, sellers seem to have the upper hand as the MACD keeps decelerating within the negative zone and […]
Dollar soars broadly, together with benchmark treasury yields, after an all around strong non-farm payroll report. At the same time US futures tumble, apparently on expectations Fed’s tightening pace will continue with such a healthy job market. The greenback is now the strongest one for the week and the question is, whether it could break […]
Summary The Reserve Bank of Australia (RBA) raised its Cash Rate by 50 bps to 1.85% at its August meeting and signaled that further rate hikes will be needed to bring inflation back towards the target over time. Several elements of the monetary policy announcement were essentially unchanged from previous meetings. However, there were also […]
Weekly Economic & Financial Commentary. July Jobs Report Squashes Current Recession Fears
Summary United States: July Jobs Report Squashes Current Recession Fears Employers added over half a million jobs in July, which squashes arguments that the US economy is currently in recession. While other measures of labor market strength have shown more pronounced signs of slowing, the July jobs report puts further pressure on the Fed to […]