Confidence Is the Underappreciated Economic Engine
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Confidence is an underappreciated factor in economic forecasting; it can change quickly and have significant impacts; Economic confidence is not always correlated with the state of the economy; Political views, stock market and real estate valuations, and common knowledge can influence confidence; Recent events like stock market volatility and an increase in the unemployment rate may impact confidence and consumption patterns.

#EconomicConfidence #EconomicForecasting #StockMarket #RealEstate #ConsumptionPatterns

https://au.investing.com/analysis/confidence-is-the-underappreciated-economic-engine-200603107


UBS raises EUR/USD forecast amid US data and Fed rate cut prospects
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UBS has revised its forecast for the EUR/USD exchange rate, raising it to 1.08 from the previous prediction of 1.05. The revision is based on factors such as recent soft US economic data and a decrease in Treasury yields, which have not supported the US dollar as expected. The bank's new outlook on the Federal Reserve's monetary policy includes the possibility of two rate cuts in 2024. The European Central Bank (ECB) has maintained a cautious stance on future rate cuts. UBS still anticipates a modest decline in the euro's value due to potential economic growth indicators softening in significant economies such as France.

https://au.investing.com/news/forex-news/ubs-raises-eurusd-forecast-amid-us-data-and-fed-rate-cut-prospects-93CH-3344519


Trump says Taiwan should pay for defence, sending TSMC stock down
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U.S. Republican presidential candidate Donald Trump said that Taiwan should pay the United States for its defense, causing shares of Taiwanese chip manufacturer TSMC to fall. Trump stated in an interview that Taiwan should pay for defense as it does not give the U.S. anything. The U.S. is Taiwan's most important international supporter and arms supplier, but there is no formal defense agreement. The U.S. is, however, obligated by law to provide Taiwan with the means to defend itself. Trump's comments come after U.S. President Joe Biden upset the Chinese government with remarks suggesting the U.S. would defend Taiwan if attacked. TSMC, the world's largest contract chipmaker, saw its stock fall more than 2% following Trump's statement. The company is currently in its quiet period ahead of its second-quarter earnings report. TSMC is investing billions in building new factories overseas, including $65 billion on three plants in Arizona, while maintaining most manufacturing in Taiwan.

#DonaldTrump #Taiwan #Tsmc #Defense #Us #JoeBiden

https://au.investing.com/news/economy-news/trump-says-taiwan-should-pay-for-defence-sending-tsmc-stock-down-3343691


$40 Million Ethereum Mystery Stuns Major US Exchange
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An unknown large entity transferred 12,000 ETH worth around $40 million to the major U.S.-based exchange, Kraken. The anonymous whale previously deposited the same amount from address '0x370', which is linked to many other addresses, including Kraken's hot wallet. It is unclear whether the whale is preparing to sell the ETH or not. Such transfers are often seen as bearish events. The crypto community is eagerly awaiting news of Ethereum ETF approvals, anticipated this week. Ethereum's price is currently rising, up 3.4% to $3,357 per ETH. The recent price surge may have created an opportune moment for the whale to sell.

#Ethereum #Cryptocurrency #Kraken #Eth #Whale #CryptoCommunity #Etf

https://au.investing.com/news/cryptocurrency-news/40-million-ethereum-mystery-stuns-major-us-exchange-3341244


Oil extends losses as dollar strengthens following Trump attack
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Oil prices fell for a second day as the dollar gained ground amid political uncertainty in the U.S. following an attack on U.S. presidential candidate Donald Trump. Futures fell 55 cents to $84.48 a barrel, while U.S. West Texas Intermediate crude was at $81.65 a barrel. The stronger dollar is expected to be a beneficiary of the assassination attempt on Trump as it increases the chances of his re-election. Weak oil demand in China and robust summer consumption in the U.S. have contributed to the decline in oil prices. The U.S. active oil rig count fell to 478, the lowest since December 2021. Oil markets are underpinned by supply cuts from OPEC+ with Iraq's oil ministry saying it will compensate for any oil overproduction since the beginning of 2024. Talks on ending the Gaza conflict between Israel and Hamas have halted, keeping the geopolitical premium in oil elevated.

#OilPrices #Dollar #TrumpAttack #China #Opec+ #GazaConflict

https://au.investing.com/news/commodities-news/oil-extends-losses-as-dollar-strengthens-following-trump-attack-3339608


Trump heading for 'a landslide' win after attempted assassination: investors
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Former President Donald Trump survived an assassination attempt in Pennsylvania. The shooting incident occurred at a rally for former Trump, which investors believe could increase his chances of reclaiming the White House. Trump sustained a gunshot wound to the ear while the attacked was reportedly neutralized. His campaign has confirmed that he is in stable condition following the assassination attempt. In response to the shooting incident, investors anticipate a rise in market activities betting on Trump's victory in the upcoming week. Prior to the attack, the possibility of Trump's return to office had already led to a stronger dollar and investors positioning for a steeper yield curve in U.S. Treasuries. The shooting marks the first time a U.S. president or major party candidate has been shot since the attempt on President Ronald Reagan's life in 1981. Billionaire hedge fund manager Bill Ackman and Tesla CEO Elon Musk endorsed Trump following the incident. The failed assassination attempt is likely to significantly impact the presidential race, which has shown a close contest in opinion polls.

#DonaldTrump #AssassinationAttempt #PresidentialRace #Investors #MarketActivities

https://au.investing.com/news/politics/trump-heading-for-a-landslide-win-after-attempted-assassination-investors-3339486


Nearly a million homes, businesses in Texas still without power after Hurricane Beryl
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Nearly a million homes and businesses in Texas remain without power five days after Hurricane Beryl made landfall. CenterPoint Energy reports that about 860,000 of its customers are still affected, while Entergy expects to restore power to all customers impacted by Beryl by Monday. Frustrations are mounting among residents as temperatures rise and businesses remain closed. Meteorologists predict a very active hurricane season with six major storms. The impact of Beryl on refineries and offshore production platforms was limited. Chemical facilities and LNG production were also affected.

#HurricaneBeryl #PowerOutage #Texas #CenterpointEnergy #Entergy #Meteorology #Refineries #ChemicalFacilities #LngProduction

https://au.investing.com/news/world-news/nearly-a-million-homes-businesses-in-texas-still-without-power-after-hurricane-beryl-3339470


Expected US rate cuts have investors looking beyond Big Tech
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Looming US interest rate cuts are causing investors to consider moving away from Big Tech stocks and towards other areas of the market that could benefit from easing monetary policy. The dominance of tech and growth companies such as Nvidia, Microsoft, and Amazon has been profitable for investors, but the expectation of rate cuts has prompted a potential shift towards small-caps, real estate, and industrials. The tech-heavy Nasdaq 100 experienced its biggest drop of the year, while the small-cap Russell 2000 had its best day of 2024. The equal-weight S&P 500 also outperformed the S&P 500, indicating a potential broadening of the market. However, some investors remain skeptical, as megacap tech stocks are expected to be more resilient in uncertain economic environments and are central to the artificial intelligence theme that has excited investors. Any sustained move away from megacaps could have a negative impact on the entire market due to their heavy weightings in indexes.

#UsRateCuts #BigTech #Investors #MonetaryPolicy #Nasdaq100 #Russell2000 #S&p500 #Smallcaps #RealEstate #Industrials #MegacapTechStocks #ArtificialIntelligence

https://au.investing.com/news/economy-news/expected-us-rate-cuts-have-investors-looking-beyond-big-tech-3339345


ConocoPhillips, Marathon Oil get second US FTC request over $22.5 billion deal
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ConocoPhillips and Marathon Oil have received a second request from the US Federal Trade Commission (FTC) for information on their proposed $22.5 billion merger. The companies received the requests on July 11 and are working with the FTC to review the merger. The request for additional information is likely to slow the closing of the deal, which ConocoPhillips had estimated would close in the fourth quarter of this year. The merger would create a company pumping 2.26 million barrels of oil and gas per day and add 1.32 billion barrels of proved reserves to ConocoPhillips' 6.8 billion.

#Conocophillips #MarathonOil #Ftc #Merger #OilAndGas

https://au.investing.com/news/commodities-news/conocophillips-marathon-oil-get-second-us-ftc-request-over-225-billion-deal-3338340


Russell 2000: Small Caps Poised to Keep Charging Above Weekly 'Bull Trap'
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The Russell 2000 surged over 3% while the S&P 500 dropped nearly 2%. The volume rose in confirmed accumulation for the Russell 2000, indicating positive technicals and relative performance in favor of Small Caps. The S&P 500 experienced confirmed distribution and may face real damage if there is an undercut of breakout support at 5,500. The Nasdaq, which had over-extended itself by 20% from its 200-day MA, showed a 'strong' sell signal and a loss. Further profit-taking is expected, with support at 17,750 and a deeper correction likely to go all the way to the 50-day MA. The Russell 2000 may have successfully challenged the weekly chart 'bull trap', while the Nasdaq and S&P 500 showed topping candlesticks, indicating a potential trend shift or stall. Bulls have something to work with for the Russell 2000.

#Russell2000 #SmallCaps #S&p500 #Nasdaq #TechnicalAnalysis

https://au.investing.com/analysis/russell-2000-small-caps-poised-to-keep-charging-above-weekly-bull-trap-200601275


Oil rises on cooling US inflation, strong summer demand
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Oil prices rose in early Asian trading hours on Friday as signs of strong summer demand and easing inflationary pressures in the United States bolstered investor confidence. U.S. gasoline demand was at 9.4 million barrels per day (bpd) in the week ended July 5, the highest for the week that includes the Independence Day holiday since 2019. Jet fuel demand on a four-week average basis was at its strongest since January 2020. U.S. Gulf Coast refiners' net input of crude rose last week to more than 9.4 million bpd for the first time since January 2019. U.S. government data on Thursday showed an unexpected decline in consumer prices in June, stoking hopes that the Federal Reserve will cut interest rates soon. The prospect of easing monetary policy has helped boost sentiment across the commodities sector. A weaker U.S. dollar has also increased investor appetite.

#Oil #Inflation #Demand #Gasoline #JetFuel #Refiners #Crude #FederalReserve #InterestRates #Commodities #UsDollar

https://au.investing.com/news/commodities-news/oil-rises-on-cooling-us-inflation-strong-summer-demand-3337792


RBNZ keeps interest rates on hold as expected, sees progress in inflation
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The Reserve Bank of New Zealand (RBNZ) kept interest rates unchanged at 5.50%, marking the eighth consecutive meeting of keeping rates steady. The RBNZ signaled that it will keep monetary policy restrictive until inflation is back within its target range. The central bank expects inflation to fall back within its target range in the second half of 2024. Traders reacted to the dovish cues from the RBNZ's statement, causing the New Zealand dollar to weaken. CPI data for the first quarter showed some easing in inflation, but it remained above the RBNZ's target range.

#ReserveBankOfNewZealand #InterestRates #Inflation

https://au.investing.com/news/economy/rbnz-keeps-interest-rates-on-hold-as-expected-sees-progress-in-inflation-3333713


US Recession Risks Rising Sharply Again - Have We Reached the Tipping Point?
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The article discusses the rising risk of a recession in the US and whether the economy has reached a tipping point. The Sahm rule, an indicator developed by economist Claudia Sahm, suggests that a formal recession warning could start as early as the next update for July. However, relying on one indicator is risky, and other business cycle indicators point to relative strength in output. The US Business Cycle Risk Report highlights rising recession risk, but near-term forward estimates suggest that US economic activity is stabilizing at a slow pace. The Composite Probability Recession Indicator estimates a roughly 9% probability of an economic contraction. Overall, while recession risk has increased, it is still premature to declare a downturn.

#UsRecession #EconomicIndicators #BusinessCycle #RecessionRisk

https://au.investing.com/analysis/us-recession-risks-rising-sharply-again--have-we-reached-the-tipping-point-200601032


Private Equity Gains Soar in 2024 - But Is It Right For You?
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Private equity gains have surged in 2024, with the private equity (PE) business reaching $4.4 trillion. The number of publicly traded companies has decreased while private equity investments have grown nearly five times faster than the US economy. However, investing in private equity comes with risks, including liquidity risk, longer-than-expected investment durations, and the potential for losses. High-net-worth individuals can absorb these risks, but individual investors may not have the capital or diversification to do so. Before investing in private equity, individuals should thoroughly analyze the investment, consider the track record of the investment manager, and assess the network of investment banks and institutions for potential exits.

#PrivateEquity #Investing #FinancialMarkets

https://au.investing.com/analysis/private-equity-gains-soar-in-2024--but-is-it-right-for-you-200601014


JPM: Economic policy implications of the election
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The potential macroeconomic and policy impacts of the 2024 U.S. presidential election are discussed by JPMorgan economists. Key policy areas such as immigration, trade, fiscal policy, and industrial policy could see major changes depending on whether President Biden secures a second term or former President Trump returns to office. President Biden has maintained high immigration numbers, contributing to economic benefits such as increased labor supply and consumer demand. In contrast, Trump has vowed to shut the southwest border and initiate large-scale deportations of unauthorized immigrants. Trade policy is another key area of divergence, with Biden keeping many of Trump's tariffs on Chinese imports while Trump has proposed even more aggressive measures. Fiscal policy under Biden would likely involve extending key provisions of the 2017 Tax Cut and Jobs Act for those making under $400,000, while Trump's plans remain less specific. Industrial policy, particularly related to the green transition, could face risks under a Trump administration. Biden's administration has been proactive in targeting major tech companies like Google and Meta with antitrust enforcement, while a second Trump administration might adopt a more lenient approach. Despite aggressive enforcement under Biden, the labor share of income remains near all-time lows.

https://au.investing.com/news/stock-market-news/jpm-economic-policy-implications-of-the-election-432SI-3329997


Canada approves Glencore takeover of Teck coal unit, with conditions
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The Canadian government has approved Glencore's $6.93 billion acquisition of miner Teck Resources' steelmaking coal unit with strict conditions. Glencore has agreed to maintain Canadian headquarters for Elk Valley Resources (EVR) for at least 10 years, ensure a majority of the directors of EVR are Canadians, and maintain significant employment levels at EVR for no less than five years. Teck will use the deal proceeds to buy back up to C$2.75 billion ($2 billion) of its Class B subordinate voting shares, reduce its debt by up to $2 billion, and fund near-term operations. The deal is expected to close by July 11. Going forward, Canada will set a high bar on net-benefit reviews when assessing mergers and acquisitions of important Canadian companies in the critical minerals space.

#Canada #Glencore #TeckResources #Coal #Acquisition

https://au.investing.com/news/economy-news/canada-approves-glencore-takeover-of-teck-coal-unit-with-conditions-3328983


No soft landing, the US will fall into a recession in late 2024 or early 2025
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The US economy is predicted to fall into a recession in late 2024 or early 2025, according to strategists at BCA Research. They cite data from their kinked Phillips curve framework, which suggests a nonlinear relationship between inflation and unemployment. The framework indicates that once full employment is reached, rising wages and prices trigger a wage-price spiral that can only be halted by reducing aggregate demand. BCA is now tactically underweight on equities and expects the S&P 500 to drop to 3,750 during the next recession.

#UsEconomy #Recession #BcaResearch #PhillipsCurve #Inflation #Unemployment #Wages #Prices #AggregateDemand #Equities #S&p500

https://au.investing.com/news/economy-news/no-soft-landing-the-us-will-fall-into-a-recession-in-late-2024-or-early-2025-3318919


Asia stocks falter, yen slump keeps markets on intervention alert
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Asian shares fell and bond yields spiked on nervousness about inflation on Thursday, while the yen's slide past 160-per-dollar had currency traders bracing for Japan to step in and steady it. Shares in bellwether chipmaker Micron Technology slid 8% in U.S. after-hours trade as it met rather than topped lofty revenue expectations. Australia's inflation is broadly at the highest levels in the developed world now, said CommSec senior economist Ryan Felsman, with the market re-pricing risks of further hikes. Australian three-year government bond yields had leapt 18 basis points on Wednesday, after inflation accelerated to a six-month high in May, and rose another 7 bps on Thursday to 4.18%, tracking an overnight sell-off in U.S. Treasuries. In foreign exchange markets U.S. yields have supported the dollar, especially against the yen and yuan where the gap to domestic yields are the largest. The yen, which slumped to a lifetime low 171.79 per euro on Wednesday was fragile at 171.57 in Asia and at 160.4 per dollar was weaker than levels which prompted Japanese intervention in April and May. Japanese finance minister Shunichi Suzuki reiterated that the government is concerned about the impact of the sliding yen on the economy and watching the currency market closely. Benchmark 10-year U.S. Treasury yields rose 1.5 bps in Tokyo to 4.33% for a rise of 14 bps for the quarter so far. In commodity markets, crude oil futures fell 0.2% to $85.07 a barrel, a 2.8% drop for the quarter so far. Gold slipped as yields rose and traded at $2,299 an ounce.

#AsiaStocks #YenSlump #InterventionAlert #Inflation #BondYields #MicronTechnology #Australia #ForeignExchangeMarkets #UsTreasuryYields #CrudeOilFutures #Gold

https://au.investing.com/news/economy-news/asia-stocks-down-yen-slump-keeps-markets-on-intervention-alert-3318294


Oil prices edge lower amid demand uncertainty, US inventory build
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Oil prices fell slightly in Asian trade on Wednesday, extending steep losses from the prior session amid lingering doubts over global demand, especially as data pointed to an unexpected build in U.S. inventories. Brent oil futures expiring in August fell 0.1% to $84.90 a barrel, while West Texas Intermediate crude futures fell 0.1% to $80.78 a barrel. US oil inventories grew by about 0.9 million barrels (mb) in the week to June 21, against expectations for a draw of 3 mb. The API data usually heralds a similar reading from official inventory data, which is due later on Wednesday. Oil prices were held back by concerns over high U.S. interest rates and the strength of the dollar. Traders fear that economic activity will cool in the coming months.

#OilPrices #DemandUncertainty #UsInventoryBuild #BrentOilFutures #WestTexasIntermediateCrudeFutures #UsOilInventories #UsInterestRates #DollarStrength

https://au.investing.com/news/commodities-news/oil-prices-edge-lower-amid-demand-uncertainty-us-inventory-build-3316301


Top 5 things to watch in markets in the week ahead
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Investors will be watching the release of the Fed's favored inflation gauge, the personal consumption expenditures price index, to assess the timing of interest rate moves. Tech stocks may be overheating, leading investors to consider other sectors such as small caps and value stocks. Oil prices could be impacted by a strong US dollar and negative economic news. Preliminary June inflation data from France, Italy, and Spain will set the tone for the euro zone-wide print and potential rate cuts by the European Central Bank. Talks between China and the European Union on tariffs for Chinese-made electric vehicles will also be in focus.

#Markets #InterestRates #TechStocks #OilPrices #InflationData #Tariffs

https://au.investing.com/news/economy/top-5-things-to-watch-in-markets-in-the-week-ahead-3312083


Gold prices experience slight rise amid prospects of Fed rate cut
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Gold prices rebounded during Tuesday's Asian trading session, recovering a portion of the previous day's modest losses. The latest US macroeconomic data suggested easing inflation pressures, bolstering hopes for a potential rate cut by the Federal Reserve in September. Last week, the Fed adopted a more hawkish stance, with policymakers advocating for just one interest rate cut this year. The resurgence of some USD buying interest presents a challenge for gold prices on Tuesday. However, any significant decline seems unlikely due to expectations of two Fed rate cuts in 2024. Investors now anticipate Tuesday's US economic data release for short-term trading opportunities during the early North American session.

#GoldPrices #FedRateCut #UsMacroeconomicData #InflationPressures #FederalReserve #InterestRateCut #UsdBuyingInterest #UsEconomicData

https://au.investing.com/news/economy/gold-prices-experience-slight-rise-amid-prospects-of-fed-rate-cut-3306722


Global market update: Mixed open for APAC shares as political concerns weigh
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Shares across the Asia-Pacific region opened in a varied fashion on Monday, following a mixed session on Wall Street and a sell-off in Europe. By 10:40 am AEST (12:40 am GMT), the S&P/ASX 200 was little changed, the KOSPI 200 eased 0.1% and Nikkei 225 fell by 1.9%. In the US, stocks managed to maintain their positions on Friday, ending a week of considerable gains on a cautious note. The S&P 500 rose 0.1% to a new high, ending the week with a 3.2% gain. The Dow Jones Industrial Average also fell, losing 0.5% for the week. Brent crude oil was down 0.2% to US$82.62 a barrel in commodity markets, while gold saw a 1.3% increase to US$2,333.04. Chinese shares closed higher, driven by gains in property and hardware stocks, with investors awaiting an announcement from PBOC on the medium-term lending facility rate. However, Hong Kong shares ended lower, dragged down by losses in retail stocks amid risk-off sentiment spurred by macro uncertainty. Japanese stocks closed higher, led by real estate and trading house stocks, after the Bank of Japan kept the amount of bond purchases unchanged. Meanwhile, Indian shares ended higher, supported by auto and finance stocks, as Prime Minister Modi's cabinet appointments appeared to have eased concerns among investors about a significant shift in policy under the new coalition government. In Europe, stocks in the U.K. slipped on Friday, with the FTSE 100 Index falling 0.2% to 8,146.86. Shares across Europe also closed lower, with investors opting for safer government bonds amidst political turmoil in France that raised concerns about the European Union's cohesion. The CAC 40 in Paris fell 6.2% this week, its worst since 2022, while the Stoxx Europe 600 index fell 2.4% on the week, marking its weakest performance since October.

https://au.investing.com/news/stock-market-news/global-market-update-mixed-open-for-apac-shares-as-political-concerns-weigh-3304662


Yen on guard ahead of BOJ; euro stutters with weekly loss in sight
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The yen is on the defensive ahead of a policy decision from the Bank of Japan (BOJ) that could see it reduce its monetary stimulus. The euro is headed for a weekly loss due to political turmoil. The dollar is gaining strength against the euro and safe-haven bids due to fears of political uncertainty in France and the wider euro zone. The BOJ is expected to maintain ultra-low rates but could announce a reduction in its bond purchases. Major currencies are struggling against a slightly stronger dollar. The yen is weaker at 157.08 per dollar and on track for a marginal weekly loss of about 0.2%. Sterling is lower against the dollar and set for a weekly gain of 0.3%. The Australian dollar and New Zealand dollar are on track to rise for the week due to expectations of higher interest rates and positive US economic data. The euro is little changed against the dollar and is poised for a weekly loss of roughly 0.6%. The single currency has had a turbulent week due to French President Emmanuel Macron's decision to call a snap vote in his country. The euro is also weak against the British pound. The yen is expected to weaken if the BOJ announces no changes, while the scope for the yen to strengthen is limited if the BOJ announces a reduction in bond purchases. The Fed's data-dependent approach to policy is emphasized by Jean Boivin, head of the BlackRock Investment Institute. The euro's political turmoil is causing concerns about the sustainability of France's debt. The article is from Reuters and was written by Rae Wee.

#Yen #Boj #Euro #Dollar #Sterling #AustralianDollar #NewZealandDollar #InterestRates #UsEconomicData #FrenchElections #Blackrock

https://au.investing.com/news/economy-news/yen-on-guard-ahead-of-boj-euro-stutters-with-weekly-loss-in-sight-3302815


Piper says Trump remains a 'slight favorite' in 2024 US election
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Donald Trump is still a 'slight favorite' for the upcoming 2024 US presidential election, according to Piper Sandler analysts. Trump is leading in the polls, though his margin is narrow nationally and in crucial Midwestern states. The odds of a comfortable Biden victory have declined. The 2024 election is seen as considerably impactful for financial markets as both candidates pose risks. Concerns for investors include potential trade reversals, geopolitical risk, fiscal policy, taxes, regulation, and immigration. Piper Sandler's election odds stand at 60% for the Republican Party winning the White House, 55% for it taking the House, and 85% for it securing the Senate. Trump is perceived to have an edge over Biden on the economy, immigration, inflation, and America's standing in the world. Biden leads on issues such as access to abortion and healthcare.

#DonaldTrump #2024UsElection #PiperSandler #FinancialMarkets #JoeBiden

https://au.investing.com/news/stock-market-news/piper-says-trump-remains-a-slight-favorite-in-2024-us-election-432SI-3294537


Gold prices rise towards $2,400 as rate cut bets grow before payrolls data
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Gold prices rose in Asian trade on Friday, coming close to key highs as bets on interest rate cuts by the Federal Reserve grew in anticipation of key nonfarm payrolls data due later in the day. The yellow metal was set for weekly gains as a string of weak U.S. economic readings pushed up expectations that the Fed will begin cutting rates in September. Spot gold was set to add about 2.6% this week, as soft readings on the U.S. economy- particularly the labor market- fed expectations of interest rate cuts. The readings came just days before key nonfarm payrolls data, which is due later on Friday, and is set to offer more definitive cues on the labor sector and interest rates. Other precious metals rose on Friday, but were set for a mixed weekly performance. Platinum was down 2.6%, while silver was up nearly 4% this week. Copper prices were muted on Friday, and were nursing a tumble from record highs over the past two weeks. Data from China showed on Friday that while overall exports to China grew much less than expected in May, copper imports rose 2.6% year-on-year.

#Gold #InterestRates #FederalReserve #NonfarmPayrolls #UsEconomy #PreciousMetals #Platinum #Silver #Copper #China

https://au.investing.com/news/commodities-news/gold-prices-rise-towards-2400-as-rate-cut-bets-grow-before-payrolls-data-3292818


The morning catch up: ASX flat ahead of GDP data release
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The ASX is set to open flat ahead of the release of GDP figures at 11:30 am. GDP is expected to have grown just 0.1% in the March quarter, bringing annual growth to 1.1% for the weakest performance since 1992. Australia's economy has been slowing as households cut spending. Treasurer Jim Chalmers pushed back against calls for deeper spending cuts, saying the economy is already soft and people are already under pressure. US sharemarkets rose following softer-than-expected US labor market data, while European sharemarkets slipped. Global oil prices fell to the lowest in four months on skepticism about an OPEC+ decision to boost supply. Copper futures fell 2.8% and gold prices fell to $2,347.40 an ounce. Iron ore futures slid to $107.69 a tonne, the lowest level in nearly seven weeks. QMines, Premier1 Lithium, Firebird Metals, Brookside Energy, and Tempus Resources are among the small cap companies making announcements.

#Asx #Gdp #AustralianEconomy #UsLaborMarketData #EuropeanSharemarkets #GlobalOilPrices #CopperFutures #GoldPrices #IronOreFutures #SmallCapCompanies

https://au.investing.com/news/stock-market-news/the-morning-catch-up-asx-flat-ahead-of-gdp-data-release-3288320


Slowing GDP and accelerating earnings is best for stocks
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According to analysts at Bank of America Securities, a best-case scenario for stocks involves slowing GDP and accelerating earnings growth. With first-quarter earnings for the S&P 500 97% done, the EPS has beat consensus by 3%, rising 7% year-on-year. BofA highlights that while the Magnificent 7 led the beat, the other 493 still delivered, with all 11 sectors except for Healthcare topping expectations. Historically, a slowing GDP + accelerating EPS backdrop has been the best macro environment for stocks. The divergence is mainly coming from improving manufacturing vs. slowing services, in our view. With a manufacturing recovery underway, improving fundamentals should continue to support the market.

https://au.investing.com/news/stock-market-news/slowing-gdp-and-accelerating-earnings-is-best-for-stocks-432SI-3283773


Futures fall as rate worries push bond yields higher
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U.S. stock index futures slipped on Wednesday as rising Treasury yields on concerns around the timing of the Federal Reserve's interest rate cuts pressured megacap stocks. Megacaps such as Apple, Meta, and Nvidia dipped between 0.3% and 1.1% in trading before the bell as the yield on Treasury notes edged higher. The tech-heavy Nasdaq closed above the 17,000 mark for the first time on Tuesday, driven by gains in Nvidia and fellow chip stocks. Traders had expected a rate reduction by March, but with sticky inflation and hawkish comments from central bankers, the majority now expect at least a 25 basis points cut only by November or December. The CBOE Volatility Index, a Wall Street fear gauge, also jumped to more than a three-week high of 14.11 points. The central bank's Beige Book, due at 2:00 p.m. ET, will shed light on the state of the U.S. economy, while April's Personal Consumption Expenditure data, expected later in the week, could offer clues on the Fed's rate cut trajectory. Quarterly results from Abercrombie & Fitch and DICK'S Sporting Goods are also due before the bell, while those from HP Inc, Agilent Technologies, and Salesforce are expected after close.

#StockMarket #InterestRates #FederalReserve #TreasuryYields #MegacapStocks #Nasdaq #Inflation #BeigeBook #PersonalConsumptionExpenditure #Earnings

https://au.investing.com/news/economy-news/futures-fall-as-rate-worries-push-bond-yields-higher-3277255


U.S. futures tick higher, consumer confidence survey ahead - what's moving markets
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U.S. stock futures point higher as traders return to their desks after a public holiday on Monday. The release of the Federal Reserve's preferred inflation measure later in the week is due to headline this week's economic calendar, while an ebbing stream of corporate earnings could provide a glimpse into the health of the American consumer. U.S. stock futures edged into the green on Tuesday, with investors looking ahead to key inflation data during this holiday-shortened trading week. By 03:26 ET (07:26 GMT), the S&P 500 futures contract had added 9 points or 0.2%, Nasdaq 100 futures had gained 58 points or 0.3%, and Dow Jones futures had climbed by 40 points or 0.1%. Stock markets on Wall Street were closed for Memorial Day on Monday. Highlighting the economic calendar this week is May's personal consumption expenditures price index on Friday, widely known as the Federal Reserve's preferred measure of inflation. Fed officials have recently suggested that they would like to see more proof that price gains in the U.S. are sustainably cooling toward the central bank's stated 2% target before rolling out any potential interest rate cuts this year. A relatively light schedule of economic releases Tuesday will feature the latest reading of the Conference Board's consumer confidence survey. Analysts expect the May figure, which is viewed as a potential leading indicator of consumer spending, to fall slightly to a mark of 96.0, down from 97.0 in the previous month. The quarterly parade of earnings continues to slow, although several companies are still gearing up to their unveil their latest returns in the coming days. Among them is Salesforce, who will report following the close of markets on Wednesday. Analysts at Goldman Sachs have said that they expect the business software group to roughly meet Wall Street expectations thanks in part to a recovery in spending by small- and medium-sized businesses. Elsewhere, members-only retailer Costco Wholesale Corp and beauty store chain Ulta Beauty are tipped to provide a further glimpse into the state of the U.S. shopper when they report after the bell on Thursday. Crude prices hovered around the flatline, rebounding from recent losses ahead of a meeting by major producers to decide future output levels. By 03:23 ET, the U.S. crude futures (WTI) inched up 0.2% to $78.72 a barrel, while the Brent contract traded down by 0.1% at $82.83 per barrel. All eyes are now on the next meeting of the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, which is set to take place online on June 2. Much of the focus will be on whether the cartel will extend its current voluntary production cuts of 2.2 million barrels per day into the second half of the year.

#UsStockFutures #ConsumerConfidenceSurvey #InflationData #CorporateEarnings #Opec+Meeting

https://au.investing.com/news/economy-news/us-futures-tick-higher-consumer-confidence-survey-ahead--whats-moving-markets-3274630


Global market update: Mixed open for APAC indices, US and UK markets remain closed
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On Tuesday, shares in the Asia-Pacific (APAC) region opened with mixed performances, as US and UK markets remained closed due to public holidays. By 10:45 am AEST (12:45 am GMT) the Australian S&P/ASX 200 and the South Korean KOSPI 200 saw a slight uptick of 0.1% each, while Japan's Nikkei 225 experienced a slight decrease of 0.1%. Commodity markets saw upward movement, with Brent crude oil increasing by 1.2% to US$83.10 per barrel and gold rising by 0.7% to US$2,350.97. Chinese shares ended the day on a positive note, buoyed by semiconductor and energy stocks. Hong Kong shares broke a four-day losing streak, led by gains in the semiconductor sector following the establishment of China's CNY344 billion chip fund. Japanese shares rose, driven by gains in financial stocks as the 10-year Japanese government bond yield reached a 12-year high. India's benchmark Sensex ended the day flat at 75390.50 due to a mixed performance of regional peers. In Europe, shares closed on a higher note, with the STOXX Europe 600 Index, Germany's DAX, and France's CAC 40 all experiencing gains. UK markets were closed for the Spring Bank Holiday.

#ApacIndices #UsMarkets #UkMarkets #Asiapacific #CommodityMarkets #ChineseShares #HongKongShares #JapaneseShares #IndianBenchmarkSensex #EuropeanShares #StoxxEurope600Index #Germany'sDax #France'sCac40

https://au.investing.com/news/stock-market-news/global-market-update-mixed-open-for-apac-indices-us-and-uk-markets-remain-closed-3274436


The morning catch up: US and UK markets on a break as ASX looks set to move higher today
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The US and UK markets are closed for holidays, while the ASX is expected to open higher. ASX futures were up 0.4% to 7,826 points. New trade figures released today will provide direction for the markets and the economy. US equity futures point to a positive opening when trade resumes. European share markets closed slightly higher, with indications of potential interest rate cuts by the European Central Bank. The Euro fell against the US dollar, while the Australian dollar rose. Global oil prices rose over 1%. Base metal prices were mixed. Gold prices rose as investors assessed diminishing bets of US interest rate cuts. Iron ore futures fell. Several small-cap companies made announcements.

#UsMarkets #UkMarkets #Asx #TradeFigures #UsEquityFutures #EuropeanShareMarkets #EuropeanCentralBank #Euro #AustralianDollar #OilPrices #BaseMetalPrices #GoldPrices #IronOreFutures #SmallcapCompanies

https://au.investing.com/news/stock-market-news/the-morning-catch-up-us-and-uk-markets-on-a-break-as-asx-looks-set-to-move-higher-today-3274430


US CPI, Cisco earnings, meme stocks - what's moving markets
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The main events moving markets include the release of the crucial monthly U.S. consumer price report, Cisco's quarterly earnings report, and the continued rally of meme stocks. The U.S. consumer price report is expected to show a 0.4% increase in April on a month-over-month basis, with underlying inflation rising 3.6% on a year-over-year basis. Investors have adjusted their expectations of U.S. rate cuts due to sticky inflation. Cisco is set to release its quarterly earnings after the close, with analysts expecting a decline in both the top and bottom lines. Meme stocks like GameStop and AMC Entertainment have continued to rise, with their Frankfurt-listed shares soaring. The buying craze has been criticized as "frankly stupid" and "gambling" by some investors. Crude prices have risen due to a drop in U.S. inventories, boosting expectations of tighter global markets.

#UsCpi #Cisco #Earnings #MemeStocks #FinancialMarkets

https://au.investing.com/news/economy/us-cpi-cisco-earnings-meme-stocks--whats-moving-markets-3256023


European stocks rise, dollar climbs as Fed rate path pondered
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European stocks rose on Wednesday, with the Stoxx 600 index up 0.32%, supported by upbeat earnings reports. Germany's DAX climbed 0.45% and Britain's FTSE 100 rose 0.35%. U.S. stock futures for the S&P 500 and Nasdaq indexes were little changed. The yen fell 0.5% to 155.42 per dollar. U.S. Treasury yields were little changed at 4.469%. Crude oil futures fell 1.4% to $82.02 a barrel.

#EuropeanStocks #Dollar #FedRatePath #EarningsReports #Yen #UsTreasuryYields #CrudeOilFutures

https://au.investing.com/news/economy/asia-stocks-drift-dollar-firm-as-fed-rate-path-pondered-3241257


Oil prices sink 1% on surprise US inventory build, Fed fears
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Oil prices fell 1% in Asian trade on Wednesday due to an unexpected build in US stockpiles and strong crude production, raising doubts about tight supply conditions. Brent oil futures fell 0.9% to $85.58 a barrel, while West Texas Intermediate crude futures fell 1% to $80.48 a barrel. US crude inventories grew by 4.9 million barrels, suggesting that oil supplies were not as tight as expected. US domestic crude output rose to 13.15 million barrels per day in February, its biggest jump since October, casting doubt on tight global crude markets. The Federal Reserve meeting is expected to strike a hawkish note, leading to a rise in the dollar and weighing on oil prices.

#OilPrices #UsInventoryBuild #FederalReserve

https://au.investing.com/news/commodities-news/oil-prices-sink-1-on-surprise-us-inventory-build-fed-fears-3227254


US stock futures sink as Meta guidance miss rattles tech
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US stock index futures fell in evening deals on Wednesday, with heavyweight technology stocks seeing renewed weakness after disappointing second-quarter guidance from Facebook owner Meta Platforms Inc. S&P 500 Futures fell 0.6% to 5,075.00 points, while Nasdaq 100 Futures slid 1.1% to 17,460.75 points. Meta's shares slid 15% in aftermarket trade to a near three-month low, after it forecast weaker-than-expected revenue for the second quarter due to higher spending on artificial intelligence. Microsoft Corporation and Alphabet Inc fell about 2% and 3% in aftermarket trade, respectively, as Meta's guidance ramped up concerns that higher spending on AI will largely offset the earnings boost from the technology. Microsoft and Alphabet are set to report their first-quarter earnings after the bell on Thursday. Wall Street indexes had marked a largely negative start to the second quarter, with losses intensifying last week as signs of hot inflation and hawkish comments from the Federal Reserve saw traders price out most expectations for a June interest rate cut.

#UsStockFutures #MetaGuidance #TechnologyStocks

https://au.investing.com/news/stock-market-news/us-stock-futures-sink-as-meta-guidance-miss-rattles-tech-3217115


Oil prices steady after 3% tumble; US reimposes Venezuela sanctions
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Oil prices remained steady in Asian trade after a 3% drop due to fears of higher US interest rates and a larger-than-expected build in US inventories. The US government has decided to reimpose oil sanctions on Venezuela after President Nicolas Maduro failed to hold national elections. However, officials indicated that they still hope the country will hold fair elections. Venezuela's oil exports grew 12% in 2023 to about 700,000 barrels per day. The US also saw a substantial build in inventories, but a draw in gasoline inventories showed strong fuel demand. Concerns over higher US interest rates and a stronger dollar also weighed on oil prices.

#OilPrices #VenezuelaSanctions #UsInterestRates #UsInventories #FuelDemand

https://au.investing.com/news/commodities-news/oil-prices-steady-after-3-tumble-us-reimposes-venezuela-sanctions-3205797


Foreign holdings of US Treasuries hit record high; Japan holdings rise, data shows
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Foreign holdings of U.S. Treasuries surged to a record in February, reaching $7.965 trillion, up from $7.945 trillion in January. This marks the fifth consecutive monthly rise in foreign holdings. Japan, the largest non-U.S. holder of Treasuries, increased its U.S. government debt to $1.167 trillion, the highest since August 2022. China's holdings of Treasuries fell to $775 billion, the second biggest decline among the 20 major countries on the Treasury's list. Overall, net foreign acquisitions of long- and short-term securities, as well as banking flows, showed a net inflow of $51.6 billion in February.

#UsTreasuries #ForeignHoldings #Japan #China #Economy

https://au.investing.com/news/economy/foreign-holdings-of-us-treasuries-hit-record-high-japan-holdings-rise-data-shows-3205593


Analysis-Dollar's rally supercharged by diverging US rate outlook
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The U.S. dollar index is up 4.6% this year and stands near its highest levels since early November. Market participants believe the Fed will need to leave interest rates at current levels for longer to avoid a potential resurgence of inflation. Investors are pricing in just 50 basis points of interest rate cuts in 2024, compared to 150 basis points priced in at the start of the year. Global central banks like the European Central Bank, the Bank of Canada, and Sweden's Riksbank could have a freer hand to ease monetary policy. Yield differentials between the U.S. and other economies have widened, contributing to the greenback's rally. Net bets on the dollar in futures markets stood at $17.74 billion, the highest level since August 2022. The dollar's rally may be supported by the Fed allowing assets to run off its balance sheet. However, some analysts believe the dollar's recent strength means investors have priced in a good deal of bullish news.

https://au.investing.com/news/economy/analysisdollars-rally-supercharged-by-diverging-us-rate-outlook-3199389


Surging US energy shares reflect robust growth, inflation worries
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US energy shares are surging as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation. The S&P 500 energy sector is up about 17% in 2024, roughly doubling the broader index's year-to-date return. The price of US crude has risen 20% year-to-date due to an unexpectedly strong US economy and worries over a broadening Middle East conflict. Some investors believe rising energy shares could hedge against US inflation. Among the top energy sector performers so far this year were Marathon Petroleum, up 40%, and Valero Energy, up 33%. The S&P 500 energy sector trades at 13 times forward 12-month earnings estimates compared to nearly 21 times for the overall S&P 500. Oil prices could take a hit if Middle East tensions ease or if global growth starts to wobble, potentially clouding the outlook for energy shares.

#UsEnergyShares #OilPrices #Inflation #S&p500 #UsCrude #MiddleEastConflict #MarathonPetroleum #ValeroEnergy

https://au.investing.com/news/economy/surging-us-energy-shares-reflect-robust-growth-inflation-worries-3199228


Surging US energy shares reflect robust growth, inflation worries
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US energy shares are surging as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation. The S&P 500 energy sector is up about 17% in 2024, roughly doubling the broader index's year-to-date return. The price of US crude has risen 20% year-to-date due to an unexpectedly strong US economy and worries over a broadening Middle East conflict. Some investors believe rising energy shares could hedge against US inflation. Among the top energy sector performers so far this year were Marathon Petroleum, up 40%, and Valero Energy, up 33%. Energy stocks have risen as a US equities rally has broadened beyond growth and technology companies. Inflation fears have made markets more turbulent in recent weeks. Outside of equities, concerns over rising consumer prices have lifted gold, a popular inflation hedge, to record highs. Energy shares were also thriving outside the US, with shares of miners, steel firms, and other commodity-linked companies rising along with energy stocks. Strategists at Goldman Sachs and RBC Capital Markets have reiterated their bullish calls on energy shares, citing heightened geopolitical risks and a "growing acceptance of the idea that the economy is actually quite strong." The S&P 500 energy sector trades at 13 times forward 12-month earnings estimates compared to nearly 21 times for the overall S&P 500. Oil prices could take a hit if Middle East tensions ease or if global growth starts to wobble, potentially clouding the outlook for energy shares. Conversely, strong economic growth could boost corporate profits and steer investors into other sectors that have done well this year, such as industrials and financials. Companies in the S&P 500 are expected to increase earnings by 9% this year.

#UsEnergyShares #OilPrices #Inflation #S&p500 #Commodities #Investors #EconomicGrowth

https://au.investing.com/news/economy/surging-us-energy-shares-reflect-robust-growth-inflation-worries-3198792


US import prices rise; underlying imported inflation pressures muted
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US import prices rose 0.4% in March, the third consecutive monthly increase, driven by higher costs of energy products and food. However, underlying imported inflation pressures remained muted. Import prices rebounded 0.4% in the 12 months through March, the first year-on-year increase since January 2023. Imported fuel prices increased 4.7% in March, while the cost of imported food shot up 1.6%. Excluding fuels and food, import prices were unchanged. Inflation pressures were not considered to be out of control, according to economists. The report also showed export prices rose 0.3% in March.

#UsImportPrices #InflationPressures #EnergyProducts #Food #FuelPrices #ExportPrices

https://au.investing.com/news/economy/us-import-prices-rise-underlying-imported-inflation-pressures-muted-3198437


Oil prices head back up on Middle East jitters
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Oil prices rose on Friday due to heightened tensions in the Middle East. Iran has promised to retaliate for a suspected Israeli air strike on its embassy in Syria, which could risk disruptions to oil supply. Futures for Brent crude rose 34 cents to $90.08 a barrel, while US West Texas Intermediate crude futures rose 44 cents to $85.45 a barrel. The gains erased some losses from the previous session, which was dominated by worries about stubborn US inflation that dampened hopes for an interest rate cut as early as June. Israel has not claimed responsibility for the embassy strike, but Iran's supreme leader, Ayatollah Ali Khamenei, said Israel "must be punished and it shall be" for the attack. The US expects an attack by Iran against Israel, but one that would not be big enough to draw Washington into war. Iranian sources said Tehran has signaled a response aimed at avoiding major escalation. The geopolitical risks in the region remain elevated.

#OilPrices #MiddleEast #Iran #Israel #SupplyDisruptions

https://au.investing.com/news/commodities-news/oil-prices-head-back-up-on-middle-east-jitters-3197644


Bitcoin price today: falls to $69k as CPI jitters weigh
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Bitcoin price fell 2.4% to $69,373.7 as traders remained averse towards risk-heavy assets due to anticipation of key U.S. inflation data. Market sentiment favored safe havens like the dollar and gold. The surge in commodity prices also diverted attention from Bitcoin. The focus was on U.S. CPI data, which is expected to show sticky inflation. The Federal Reserve's reluctance to cut interest rates negatively affects speculative assets like Bitcoin. Losses in Bitcoin spilled over into other cryptocurrencies. The upcoming Bitcoin halving event, set to happen around April 20, limited losses. The halving event will slash the rate at which new Bitcoin is mined, further emphasizing its relative scarcity. Bitcoin had reached a record high of over $73,000 earlier in 2023 but recent data showed slowing capital flows. The article is from Investing.com and was written by Ambar Warrick.

https://au.investing.com/news/cryptocurrency-news/bitcoin-price-today-falls-to-69k-as-cpi-jitters-weigh-3193918


Dollar firm, yen under watch ahead of key US CPI release
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The dollar consolidated ahead of a key inflation report, while the yen remained close to a line believed to trigger intervention by Japanese authorities. The main focus is on the US consumer price inflation for March, which will provide hints on the Fed's policy outlook. Traders have reduced bets on rate cuts this year, with the odds of the first cut occurring in June at about 60%. A strong CPI number could see the dollar rise sharply, while a weaker-than-expected data may only cause a modest dip. The yen's sharp falls are being closely watched by Japanese authorities. The Reserve Bank of New Zealand kept rates on hold but warned of persistent inflation. The kiwi climbed to a three-week high before flattening. Other currencies, such as the Australian dollar and the euro, remained steady. Bitcoin rose slightly.

#CurrencyMarkets #UsCpiRelease #Dollar #Yen

https://au.investing.com/news/economy/dollar-sideways-yen-under-watch-ahead-of-key-cpi-release-3193756


Asia FX muted ahead of US inflation data; USDJPY nears 152
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Most Asian currencies moved little on Tuesday and the dollar steadied in anticipation of key U.S. inflation data due later this week. The Japanese yen weakened slightly, with the USD/JPY pair moving back towards the 152 level, its highest since 1990. Traders remained cautious in making big bets due to uncertainty over U.S. interest rates. The dollar index futures moved little in Asian trade. U.S. inflation data for March is expected to show inflation remaining comfortably above the Fed's 2% annual target. Minutes of the Fed's March meeting are also due on Wednesday.

#AsiaFx #UsInflationData #Usdjpy

https://au.investing.com/news/forex-news/asia-fx-muted-ahead-of-us-inflation-data-usdjpy-nears-152-3191771


A final hurdle: Five questions for the ECB
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Traders are betting that the European Central Bank (ECB) will start cutting interest rates in June. Policymakers want to see data broadly in line with expectations to deliver a cut, rather than needing to see improvements as the US Federal Reserve has suggested. The ECB is likely to signal rate cuts are coming, but it remains to be seen how explicit it will be about June. The ECB wants to see further signs of a slowdown in negotiated wage growth before it can cut rates. Rising oil prices are not seen as a major concern for the ECB's policy path.

#Ecb #InterestRates #Inflation #MonetaryPolicy

https://au.investing.com/news/economy/a-final-hurdle-five-questions-for-the-ecb-3189839


Dollar steadies, yen touches two-week high ahead of key US jobs data
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The dollar is heading for its first weekly loss in a month, but has pulled away from two-week lows ahead of a key US jobs report. The yen has reached two-week highs against the dollar due to demand for safe-haven currencies and warnings from Japanese authorities. Investors are cautious about developments in the Middle East after US President Joe Biden threatened to condition support for Israel's offensive in Gaza. The dollar has had a turbulent week, falling from a five-month high to a two-week low after an unexpected slowdown in US services growth. The market is focused on the release of the monthly US employment report, with economists forecasting 200,000 jobs added in March. Japanese authorities continue to push back against excessive currency weakness, with the finance minister reiterating the government's resolve to take action against sharp yen falls. The Bank of Japan governor said the central bank could respond with monetary policy if yen weakness affects the nation's economy. The yen strengthened to a two-week high of 150.81 against the dollar. The euro was steady at $1.0838, while sterling eased to $1.2624. Bitcoin fell 1.4% to $67,020.

#Dollar #Yen #UsJobsData #MiddleEastTensions #SafehavenCurrencies #JapaneseAuthorities #UsServicesGrowth #EmploymentReport #CurrencyWeakness #MonetaryPolicy #Euro #Sterling #Bitcoin

https://au.investing.com/news/economy/dollar-steadies-yen-touches-twoweek-high-ahead-of-key-us-jobs-data-3187980


Leading Companies Launch Consortium to Address AI's Impact on the Technology Workforce
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Cisco and a group of eight leading companies including Accenture, Eightfold, Google, IBM, Indeed, Intel, Microsoft, and SAP have launched the AI-Enabled Information and Communication Technology (ICT) Workforce Consortium. The Consortium aims to assess AI's impact on technology jobs and identify skills development pathways for the roles most likely to be affected by artificial intelligence. The formation of the Consortium is catalyzed by the work of the U.S.-EU Trade and Technology Council's Talent for Growth Task Force, and it will provide actionable insights and recommendations for reskilling and upskilling workers in preparation for AI-enabled environments. The Consortium will evaluate the impact of AI on 56 ICT job roles and provide training recommendations for impacted jobs. Consortium members have committed to developing worker pathways and have established goals to positively impact over 95 million individuals worldwide over the next 10 years.

#Ai #TechnologyWorkforce #Consortium #Reskilling #Upskilling

https://au.investing.com/news/stock-market-news/leading-companies-launch-consortium-to-address-ais-impact-on-the-technology-workforce-93CH-3186449


Futures ease as investors seek clues on rate outlook
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U.S. stock index futures edged lower as investors awaited economic data and comments from Federal Reserve Chair Jerome Powell after strong readings on the U.S. economy tempered bets on interest rate cuts this year. The tech-heavy Nasdaq and the blue-chip closed at two-week lows on Tuesday as Treasury yields rose to multi-month highs. Traders are pricing in a 62% chance that the Fed will cut interest rates by 25 basis points in June. Cleveland Fed Bank President Loretta Mester and San Francisco Fed Bank President Mary Daly said on Tuesday they think it would be 'reasonable' to cut U.S. interest rates three times this year. At 5:59 a.m. ET, Dow e-minis were down 40 points, or 0.1%, S&P 500 e-minis were down 12 points, or 0.23%, and Nasdaq 100 e-minis were down 62.5 points, or 0.34%. Intel fell 5.3% in premarket trading after the chipmaker disclosed $7 billion in operating losses for its foundry business in 2023. Tesla dipped 0.8%, adding to its near 5% drop on Tuesday after the automaker missed first-quarter delivery estimates. Paramount Global gained 4.1% after a report said the media giant has been discussing entering into talks with David Ellison, the founder of the Skydance media company, for a potential deal.

#StockIndexFutures #InterestRateCuts #FederalReserve #JeromePowell #Nasdaq #TreasuryYields #RateProbability #ClevelandFedBank #SanFranciscoFedBank #JobsReport #Intel #Tesla #ParamountGlobal

https://au.investing.com/news/economy/futures-ease-as-investors-seek-clues-on-rate-outlook-3184049


Bitcoin price today: Pinned at $69k amid rate fears, regulatory jitters
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Bitcoin price fell 1.1% over the past 24 hours and traded at $69,681.7. Bitcoin traded rangebound for two weeks after rushing to record highs earlier in March. Pressure from the US dollar limited major gains in Bitcoin. Markets are focused on PCE price index data and Fed officials' speeches for cues on interest rates. Sentiment towards crypto markets was rattled by a key development in the SEC's lawsuit against Coinbase. Bitcoin is set for over a 50% gain in Q1 2024. The S&P 500 was up 11% in Q1.

#Bitcoin #Cryptocurrency #RateFears #RegulatoryJitters #PcePriceIndex #FedOfficials #Sec #Coinbase #UsDollar #S&p500

https://au.investing.com/news/cryptocurrency-news/bitcoin-price-today-pinned-at-69k-amid-rate-fears-regulatory-jitters-3176260


Yen on intervention watch; Asia shares subdued
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The yen is near its weakest in decades, but intervention from Japanese authorities is keeping investors cautious. Asian stocks fell ahead of a key U.S. inflation reading. Japanese authorities held an emergency meeting to discuss the weak yen and suggested they were ready to intervene in the market. The yen's fall has been a boon for Japan's Nikkei, which is up about 3% for the month. In China, stocks were in the red due to strong selling by foreign investors. The yuan is weighed down by expectations of further monetary easing from Beijing. The dollar is on the front foot, helped by comments from Fed Governor Christopher Waller. Oil prices edged up.

#Yen #AsianStocks #Intervention #UsInflation #JapaneseAuthorities #Nikkei #ChinaStocks #Yuan #Dollar #OilPrices

https://au.investing.com/news/economy/yen-on-intervention-watch-asia-shares-subdued-3176204


S&P affirms U.S. 'AA+/A-1+' ratings, outlook stable amid fiscal challenges
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S&P Global Ratings has maintained its 'AA+/A-1+' sovereign credit ratings on the U.S., with a stable outlook. The affirmation reflects expectations of continued economic resilience and effective monetary policy. Despite high government debt levels and challenges in achieving bipartisan fiscal cooperation, the U.S.'s institutional checks and balances, strong rule of law, and the free flow of information contribute to predictability in economic policies. The U.S. economy is expected to grow at a rate of around 2% in the medium term, with a forecasted growth of 2.5% for the current year. The U.S. dollar's status as the world's premier reserve currency and the Federal Reserve's credibility afford the country significant monetary policy flexibility. However, the U.S. faces challenges such as a net general government debt approaching 100% of GDP and interest payments exceeding 10% of revenue, which constrain the credit rating. The U.S.'s external debt ratio is expected to remain around 375% of current account receipts, and the general government deficit is projected to average around 6.0% of GDP in the coming years. Nonresident holdings account for approximately one-third of U.S. sovereign debt. The U.S. continues to face moderate contingent liabilities from the non-deposit-taking financial sector and nonfinancial public enterprises.

#S&pGlobalRatings #UsCreditRatings #EconomicResilience #MonetaryPolicy #GovernmentDebt #FiscalCooperation #EconomicPolicies #UsEconomy #Gdp #InterestPayments #ReserveCurrency #FederalReserve #ExternalDebt #GeneralGovernmentDeficit #SovereignDebt

https://au.investing.com/news/stock-market-news/sp-affirms-us-aaa1-ratings-outlook-stable-amid-fiscal-challenges-93CH-3176008


Baltimore bridge collapse 'unlikely major for macro' - JPMorgan
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A container ship collided with the Francis Scott Key Bridge near Baltimore, causing the majority of the structure to collapse. Multiple vehicles on the bridge fell into the Patapsco River. Baltimore's port, ranked 17th in tonnage and 15th for container handling among American ports, is important for vehicle imports and coal exports. JPMorgan analysts believe the incident will have minimal implications for vehicle inflation as many vehicles are imported over land from Canada and Mexico. Shipping has been redirected to alternative ports along the East Coast, and certain automobile manufacturers with import terminals in Baltimore will be less affected by the disaster.

#Baltimore #BridgeCollapse #Jpmorgan #Port #VehicleImports #CoalExports

https://au.investing.com/news/stock-market-news/baltimore-bridge-collapse-unlikely-major-for-macro--jpmorgan-432SI-3174613


Sonoco raises paperboard prices in Europe amid inflation
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Sonoco, a global packaging company, is increasing the price of all grades of uncoated recycled paperboard (URB) sold in Europe by €60 per ton and £50 per ton for the UK market. The price hike will take effect for deliveries starting after April 15, 2024. The move is in response to rising input costs due to general inflation and the challenging economic environment. Sonoco's Vice President Sales & Marketing Paper Europe, Nikolaj Thybo, stated that the price adjustment is necessary to offset higher input costs and the company remains committed to supporting its European customer base.

#Sonoco #Packaging #Paperboard #Europe #Inflation

https://au.investing.com/news/stock-market-news/sonoco-raises-paperboard-prices-in-europe-amid-inflation-93CH-3172099


Fossil Group appoints new board member in agreement with Buxton
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Fossil Group, Inc. has entered into a Cooperation Agreement with Buxton Helmsley Active Value Fund, L.P. and Buxton Helmsley Capital Partners LLC, collectively known as Buxton. Under this agreement, Fossil Group has agreed to appoint Pamela B. Corrie as a new member of its board of directors and the Nominating and Corporate Governance Committee. The appointment is to be made as soon as practicable. The Cooperation Agreement stipulates that until the earlier of the date of the 2025 Annual Meeting of Stockholders or a change in the control of the company, the board will not exceed ten directors. This includes a maximum of nine independent directors. Additionally, Buxton has agreed to certain standstill restrictions and voting commitments as part of the agreement. Buxton's right to participate in the selection of a replacement Investor Director, should Ms. Corrie resign or be removed, is contingent on the investment group maintaining a "net long position" in Fossil Group's outstanding common stock, as per the terms at the time of the agreement's signing. In conjunction with the agreement, Buxton has withdrawn both its nomination notice submitted to Fossil Group on February 16, 2024, and its demand to inspect certain company books and records under Section 220 of the Delaware General Corporation Law. The Cooperation Agreement is set to remain in effect until the specified Termination Date.

https://au.investing.com/news/stock-market-news/fossil-group-appoints-new-board-member-in-agreement-with-buxton-93CH-3172040


Eventbrite announces board chairman transition
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Eventbrite, Inc. has announced a forthcoming change in its board leadership. Kevin Hartz, the current chairman of the board, will not seek reelection after his term concludes at the company's annual stockholders' meeting on June 6, 2024. Julia Hartz, the CEO and a board member, has been appointed to assume the role of board chair. The transition is set to take effect on the same date as the annual meeting. This change is seen as a step towards a seamless transition and maintaining continuity in the company's strategic direction and leadership.

https://au.investing.com/news/stock-market-news/eventbrite-announces-board-chairman-transition-93CH-3172033


Beyond US Stocks: 3 Emerging Markets That Should Be on Your Portfolio
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The article discusses the case for investing in emerging markets and highlights three emerging markets that the author recommends for long-term investment: Poland, Malaysia, and Indonesia. The author argues that owning emerging market exposure in a long-term macro portfolio is a sensible thing to do due to factors such as geopolitical fragmentation, increased US inflation and growth volatility, and reasonable valuations. The article provides a framework for approaching long-term emerging market investing, including assessing countries based on economic growth, institutional credibility, leverage, and external vulnerabilities. The author also emphasizes the importance of institutional credibility and predictable inflation ranges for investors. The three recommended emerging markets are chosen based on their fundamental scores and equity market valuations. Poland is highlighted for its productive economy, specialized manufacturing sector, and potential for growth in the EV industry. Malaysia and Indonesia are noted for their net commodity exports, structural reforms, and good institutional frameworks. The article concludes by stating that the entire emerging market complex is interesting and under-owned, making it a cheap and sensible exposure to have.

#EmergingMarkets #Investing #Portfolio #Poland #Malaysia #Indonesia

https://au.investing.com/analysis/beyond-us-stocks-3-emerging-markets-that-should-be-on-your-portfolio-200593176


Tech Bytes: Researchers identify “enormous potential” for generative AI to be used in cyber security
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A study by researchers at Charles Darwin University (CDU) and India’s Christ Academy Institute for Advanced Studies has found that generative artificial intelligence (GenAI) tools have the potential to be a crucial asset in fighting cybercrime. The researchers examined GenAI's potential in penetration testing (pentesting), a security test that identifies weak points in a cyber security system's defenses. They found that GenAI tools, such as ChatGPT, can be used for gathering information, performing detailed scans, identifying vulnerabilities, and exploiting them. However, the researchers emphasize the need for responsible AI deployment, data security, privacy, collaboration, and information sharing to leverage the power of GenAI in cybersecurity.

#GenerativeAi #CyberSecurity #PenetrationTesting #Chatgpt #CharlesDarwinUniversity #ChristAcademyInstituteForAdvancedStudies

https://au.investing.com/news/stock-market-news/tech-bytes-researchers-identify-enormous-potential-for-generative-ai-to-be-used-in-cyber-security-3170456


Chinese food delivery giant Meituan surges on positive earnings
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Shares of Chinese food delivery app Meituan rose 8.1% on Monday, reaching a four-month high of HK$95.35, following stronger-than-expected earnings. The company reported revenue of 73.7 billion yuan ($10 billion) in the quarter ending December 31, and swung to a profit from a loss a year ago. Meituan's earnings were boosted by its expansion into the Hong Kong market and a rebound in travel and recreational demand. However, the Chinese economy continues to face a decline in consumer spending and business activity.

#Meituan #ChineseFoodDelivery #Earnings #HongKongMarket #ConsumerSpending

https://au.investing.com/news/stock-market-news/chinese-food-delivery-giant-meituan-surges-on-positive-earnings-3170432


AuKing Mining signs MoU to explore and develop mineral projects in Saudi Arabia
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AuKing Mining Ltd has signed a Memorandum of Understanding (MoU) with Barg Alsaman Mining Company (BSMC), a subsidiary of the Saudi Arabian group Segia Gulf Group, to jointly explore and develop mineral projects in Saudi Arabia. The collaboration is in line with Saudi Arabia's Vision 2030 reform agenda, which aims to diversify the economy and increase non-oil revenue. The MoU includes provisions for cooperation in uranium, copper, and zinc projects, as well as support from BSMC in securing a foreign investment license. AuKing will fund exploration and development activities and secure a 70% interest in mining projects upon completion of a feasibility study. The collaboration is seen as an opportunity to leverage the expertise of Australian explorers and contribute to the development of the mining industry in Saudi Arabia.

#AukingMining #BargAlsamanMiningCompany #SaudiArabia #MineralProjects #Collaboration #Vision2030 #Diversification #ForeignInvestment #FeasibilityStudy #MiningIndustry

https://au.investing.com/news/stock-market-news/auking-mining-signs-mou-to-explore-and-develop-mineral-projects-in-saudi-arabia-3170387


Orthocell on course to penetrate US market following nerve repair treatment Remplir™ study phase
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Regenerative medicine company Orthocell Ltd has completed the first stage of its pivotal US market authorization study for its lead asset Remplir™, paving the way for global expansion and US market clearance in early 2025. The study, led by Professor Bill Walsh, assessed Remplir's safety and effectiveness in a rat sciatic nerve injury model. All nerve repair surgeries were performed without any adverse events. Orthocell plans to submit its market authorization application to the US FDA in Q4 2024 and expects to begin sales shortly after.

#Orthocell #Remplir #NerveRepair #RegenerativeMedicine #UsMarket #Fda

https://au.investing.com/news/stock-market-news/orthocell-on-course-to-penetrate-us-market-following-nerve-repair-treatment-remplir-study-phase-3170385


Three things to watch for the week ahead: CPI; consumer confidence; BYD
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The article highlights three key things to watch in Australia in the coming days. First, the release of the monthly CPI data, which will give the Reserve Bank a better indication of future rate decisions. Second, the consumer confidence index, which has been on an upward trajectory and suggests positive consumer response to easing inflation and potential rate cuts. Lastly, the earnings announcement of BYD, the largest electric vehicle company in the world, which is expected to have risen by up to 85.6% year-on-year for 2023. The article discusses the competition in the EV market and the impact on investor sentiment towards BYD.

#Cpi #ConsumerConfidence #Byd #Inflation #RateCuts #ElectricVehicle #Earnings

https://au.investing.com/news/stock-market-news/three-things-to-watch-for-the-week-ahead-cpi-consumer-confidence-byd-3170369


ASX 200 poised for fresh record highs: Iron ore and oil producers in focus
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The ASX 200 is expected to make another attempt at surpassing its all-time high this week, with futures suggesting a 0.1% rise at the opening. The local market remains 76 points short of the record set earlier this month. The steady stream of economic news paints a picture of a 'Goldilocks' scenario - moderate economic growth, low unemployment, and declining inflation. Central banks are expected to continue their course towards rate cuts this year. Iron ore and oil producers, including NRW Holdings Ltd and Perenti Global Ltd, will be in focus as both commodities saw a dip in prices over the weekend. Australian 10-Year rates were at 4.01%.

#Asx200 #IronOre #OilProducers #RateCuts

https://au.investing.com/news/stock-market-news/asx-200-poised-for-fresh-record-highs-iron-ore-and-oil-producers-in-focus-3170358


China’s top chipmaker slides as US sanction fears spark tech rout
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Shares of SMIC, China's top chipmaker, fell after the Biden administration suggested that the company may have flouted US export curbs to produce a new chip for Huawei. The US Commerce Department is investigating the matter. The potential sanctions against SMIC have sparked concerns about further curbs on Chinese companies. SMIC's decline also led to losses in other Chinese technology firms, including Shanghai Fudan Microelectronics and Hua Hong Semiconductor. However, the prospect of US action against SMIC presents opportunities for other China-based chipmakers, such as NAURA Technology Group and Hygon Information Technology, to fill the potential supply gap in Chinese semiconductor markets.

#Smic #UsSanctions #TechRout #Chipmaker #Huawei #ChineseTechnologyFirms

https://au.investing.com/news/stock-market-news/chinas-top-chipmaker-slides-as-us-sanction-fears-spark-tech-rout-3168644


Yen near four-month low, Fed in spotlight
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The yen is near a four-month low against the US dollar and a 16-year low against the euro as traders expect Japan's monetary settings to remain accommodative despite the Bank of Japan ending its negative interest rate policy. The yen weakened to a four-month low of 151.34 per dollar and was last off 0.26% at 151.23. Against the euro, the yen weakened to 164.35, its lowest since 2008. The Bank of Japan said it expected to maintain accommodative conditions for the time being. The focus is on the Federal Reserve's decision due later on Wednesday.

#Yen #UsDollar #Euro #BankOfJapan #MonetaryPolicy #FederalReserve

https://au.investing.com/news/economy/yen-near-fourmonth-low-fed-in-spotlight-3164225


Sovereign Metals ships 30 tonnes of ore from Kasiya for pre-feasibility optimisation
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Sovereign Metals has shipped 30 tonnes of ore from the Kasiya Rutile-Graphite Project in Malawi to Paterson & Cooke for advanced material handling tests. The ore sample represents the first 10 years of production and will be used for advanced bulk laboratory-scale test work to optimize the technical elements of the Kasiya pre-feasibility study. The test work will provide insights into the mining, transportation, and handling of Kasiya ore. The successful delivery of the sample demonstrates the involvement of strategic investor Rio Tinto in assisting Sovereign with the project optimization.

#SovereignMetals #KasiyaRutile-graphiteProject #OreShipment #Pre-feasibilityOptimisation #Paterson&Cooke #RioTinto

https://au.investing.com/news/stock-market-news/sovereign-metals-ships-30-tonnes-of-ore-from-kasiya-for-prefeasibility-optimisation-3164049


Volition names Dr Andrew Retter as Chief Medical Officer
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VolitionRx Limited has appointed Dr. Andrew Retter as Chief Medical Officer (CMO), starting April 1, 2024. Dr. Retter is an Intensive Care Consultant at Guy's and St. Thomas' NHS Foundation Trust in London and has been advising Volition since January 2022. He will lead medical initiatives at Volition and align research, development, and commercialization activities with patient care. Dr. Retter believes in Volition's potential to revolutionize healthcare with its innovative diagnostic solutions.

#VolitionrxLimited #Dr.AndrewRetter #ChiefMedicalOfficer #Diagnostics #Epigenetics #MedicalInitiatives #PatientCare #Healthcare #InnovativeDiagnosticSolutions

https://au.investing.com/news/stock-market-news/volition-names-dr-andrew-retter-as-chief-medical-officer-93CH-3163886


Marketmind: Tech-led U.S. 'exceptionalism' underlined
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The article discusses the concept of U.S. economic 'exceptionalism' and highlights the role of the tech sector in driving the country's strong performance. It mentions that the U.S. economy has outperformed Japan, Britain, and the euro zone, partly due to the growth of its technology sector. The article specifically mentions chipmaking giant Nvidia, which has seen its market cap surpass that of Alphabet, making it the third most valuable firm in the U.S. behind Apple and Microsoft. The article also notes that Wall Street stocks rallied on Wednesday, with individual tech names like Uber and Lyft experiencing significant gains. On the other hand, Japan and Britain entered technical recession late last year, with Japan's economy slipping into recession and Britain's economy falling into a recession in the second half of 2023. The article suggests that the U.S. economic exceptionalism is supported by the re-shoring of chip production and the boom in artificial intelligence. It also mentions the implications of these economic developments on central bank policies, such as the Bank of Japan's potential exit from its ultra-loose monetary policy and the pressure on the Bank of England to ease interest rates despite above-target inflation. The article concludes by discussing the interest rate outlook in the U.S., with more dovish Federal Reserve officials suggesting that the central bank should not wait too long before cutting rates.

#U.s.Economy #TechSector #Nvidia #WallStreetStocks #JapanRecession #BritainRecession #BankOfJapan #BankOfEngland #InterestRates #FederalReserve

https://au.investing.com/news/commodities-news/marketmind-techled-us-exceptionalism-underlined-3119062


Dollar gains as markets await U.S. inflation data
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The dollar edged higher against the euro and other major currencies as investors await data on U.S. inflation and retail sales this week for clues on when the Federal Reserve may begin widely anticipated interest rate cuts. The U.S. data also caused market pricing for the first European Central Bank (ECB) rate cuts to be pushed back, even though economic data in Europe has been weaker. Analysts expect U.S. core CPI to come in at 0.3% month-on-month in January, but a still elevated 3.7% year-over-year, according to a Reuters poll of economists.

#Dollar #U.s.Inflation #FederalReserve #InterestRateCuts #EuropeanCentralBank #U.s.CoreCpi

https://au.investing.com/news/economy/dollar-gains-as-markets-await-us-inflation-data-3115242


Australian dollar goes under greenback steamroller
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The Australian dollar is weakening against the US dollar, with the AUD/USD exchange rate hovering around 0.65 cents. The lack of support from North Asia, the struggling oil market, and the downturn in the Australian economy are contributing to the decline. The Reserve Bank of Australia (RBA) has been cutting interest rates in response to the economic challenges, and the 10-year bond spread between Australia and the US has shifted in Australia's favor. As markets recognize the weaker outlook for Australia compared to the US, the downside risks for the Australian dollar remain prominent.

#AustralianDollar #UsDollar #ExchangeRate #Economy #InterestRates

https://au.investing.com/analysis/australian-dollar-goes-under-greenback-steamroller-200589642


Top 5 things to watch in markets in the week ahead
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The article highlights the top 5 things to watch in the markets in the week ahead. It mentions that the U.S. inflation report for January will be closely watched for clues on the timing of interest rate cuts from the Federal Reserve. The article also mentions that earnings season continues, oil prices are expected to remain volatile, and the UK and Japan will release important economic data. The UK data will focus on jobs, inflation, and growth, while Japan will release preliminary GDP data. The article concludes by mentioning that market watchers will also have the opportunity to hear from several Fed officials during the week.

https://au.investing.com/news/economy/top-5-things-to-watch-in-markets-in-the-week-ahead-3113969


Nobel Laureate Warns: Fed Hiked Rates Too Fast, Risking Growth in 2024
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Nobel laureate Joseph Stiglitz warns that the Federal Reserve raised interest rates too far, too fast, risking growth in 2024. Stiglitz believes that the Fed misdiagnosed the spike in inflation in 2021-2022 as a demand-side problem when it was primarily a supply-side issue. He points out that the increase in housing prices, which accounted for roughly one-third of the price spike, was a key factor in inflation's rise. Stiglitz argues that the economy needs more houses to help lower prices, but the sharp increase in interest rates has created headwinds to residential housing construction. He sees the rise in interest rates as a threat to growth in 2024 and highlights the long and variable impact of monetary policy on the economy. Despite Stiglitz's warning, current economic indicators suggest that recession risk is low.

#FederalReserve #InterestRates #Inflation #HousingPrices #EconomicGrowth

https://au.investing.com/analysis/nobel-laureate-warns-fed-hiked-rates-too-fast-risking-growth-in-2024-200589423


Asia FX steadies as dollar dips from 3-mth high; rate fears persist
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Most Asian currencies kept to a tight range on Wednesday, steadying after recent losses as the dollar retreated from recent three-month peaks, although the prospect of higher-for-longer U.S. rates still kept traders on edge. Regional currencies were nursing steep losses over the past three sessions, after a string of robust U.S. economic readings and hawkish comments from Federal Reserve officials saw traders largely price out bets on early rate cuts by the central bank. With markets now pricing out rate cuts in March and May, Asian units are likely to see more pressure in the coming weeks while the dollar is set to remain strong. Among Asian currencies, the Australian dollar was somewhat of an outlier, rising 0.1% and extending strong gains from the prior session after the Reserve Bank of Australia warned it could still hike rates further in the face of sticky inflation. The Indian rupee rose 0.1% and managed to just break below the 83 level against the dollar. Focus was squarely on a Reserve Bank of India meeting this Thursday, where the central bank is expected to keep interest rates unchanged.

#AsiaFx #Dollar #RateFears #UsRates #ReserveBankOfAustralia #ReserveBankOfIndia

https://au.investing.com/news/forex-news/asia-fx-steadies-as-dollar-dips-from-3mth-high-rate-fears-persist-3108412


Asia FX muted, dollar nurses weekly losses ahead of nonfarm payrolls
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Most Asian currencies remained stable while the dollar was on track for weekly losses ahead of the release of U.S. nonfarm payrolls data. The Federal Reserve's decision to keep interest rates steady and Fed Chair Jerome Powell's optimistic note on the U.S. economy drove investors into risk-driven assets. The dollar index futures were flat in Asian trade and set to lose about 0.4% for the week. Losses in the dollar provided relief to Asian currencies after a difficult start to 2024. The Reserve Bank of Australia is expected to keep interest rates steady at its upcoming meeting. Traders are pricing in a 25 basis point rate cut by the Fed in May, with expectations of further rate cuts throughout the year. Nonfarm payrolls data is expected to provide more cues on the labor market and the potential for interest rate cuts. Asian currencies are sensitive to changes in U.S. interest rates.

#AsiaFx #Dollar #NonfarmPayrolls #InterestRates #FederalReserve

https://au.investing.com/news/forex-news/asia-fx-muted-dollar-nurses-weekly-losses-ahead-of-nonfarm-payrolls-3104208