Fed’s Barkin is on the wires saying: Baseline outlook for 2025 is positive, with more upside than downside risk to growth As long as employment and asset values remain strong, consumers will spend Inflation still not back to target, more work to do Story of 2025 will be less about monetary policy, more about economic fundamentals and perhaps geopolitics…
India FX Reserves, USD: $640.28B (December 23) vs previous $644.39B
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Mexico Jobless Rate came in at 2.6% below forecasts (2.7%) in November
UPCOMING EVENTS: Monday: China Caixin Services PMI, German CPI, Canada Services PMI. Tuesday: Switzerland CPI, French CPI, Eurozone CPI, US ISM Services PMI, US Job Openings. Wednesday: Australia Monthly CPI, Eurozone PPI, US ADP, FOMC Minutes. Thursday: Japan Average Cash Earnings, Eurozone Retail Sales, US NFIB Small Business Optimism Index, US Jobless Claims. Friday: Switzerland Unemployment Rate, Canada Employment…
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Atlanta Fed GDPNow growth estimate for Q4 2024 falls to 2.4% versus 2.6% on January 2. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 2.4 percent on January 3, down from 2.6 percent on January 2. After this morning’s Manufacturing ISM Report on Business…
The People’s Bank of China’s (PBoC) Monetary Policy Committee said on Friday that they will cut the reserve ratio requirements (RRR) and interest rates at proper time, per Reuters. Key takeaways “Recommending strengthening intensity of monetary policy adjustments.” Will strengthen implementation of interest rate policies to promote steady decline in corporate financing and household credit costs.” “Will maintain Yuan exchange…
The Nasdaq indices run to the upside is continuing with the price currently up 279 points or 1.45% at 19558.42. The high price reached 19560.11. Looking at the hourly chart above, the price is also approaching its 200-hour moving average at 19571.58. The price fell below that moving average on December 30 and reached a low on January 2…
The Pound Sterling seems vulnerable near 1.2400 against the US Dollar as the Fed has signaled fewer interest rate cuts this year. Lower US Initial Jobless Claims have signaled an improvement in labor market conditions. The BoE is expected to cut interest rates by 60 bps this year. The Pound Sterling (GBP) trades near a more-than-eight-month low around 1.2400…
