1/7/2024 0 Comments When does fed speek todayCredit Suisse has upwardly revised the UK economic forecasts for 2023 on the back of the announcement and now expects GDP -0.2%, up from 2023. GBP/USD is rising, capitalizing on the weaker USD as investors continue to digest Liz Truss’ ene5rgy relief package. She added that the ECB is prepared to provide liquidity to banks but not energy firms In a speech, Lagarde reaffirmed that taming inflation was the central bank’s top priority. USD/JPY falls 1% as the BoJ says that it is watching the exchange rate closely.ĮUR/USD is rising as ECB policymakers continue to hammer home the hawkish stance after hiking interest rates by 75 basis points yesterday. Optimism that inflation could cool further as next week’s CPI comes into view adds to the drag on USD. The USD is falling, extending losses from the previous session as investors reassess the hawkishness of other central banks such as the ECB alongside the Fed. Sellers could look at the 50 sma crossing below the 100 sma as a sell signal, with a move below 3880 creating a lower low and brings 3720 the July 14 low into focus. A rise above here negates the near-term downtrend. Buyers need to break above the 50 sma at 4035 to extend the recovery to 4000 round number and 4100 the February low. The receding bearish bias on the MACD keeps buyers hopeful of further upside. The S&P500 is extending the rebound from 3880, rising above the 100 sma and testing resistance of the 50 sma. The software firm also raised its revenue guidance for the year. With no big data release expected, Fed official Waller is due to speak later and could provide further direction for what to expect from the September FOMC.ĭocuSign jumps 16% pre-market after posting better than expected Q2 results. With oil prices set to fall again across the week and treasury yields also declining, we could be getting to the stage when peak inflation has been priced in.ĬPI inflation data next week could help the markets determine whether cooling inflation is a new trend. Investors are shrugging off Powell’s comments from yesterday that the Fed will continue fighting inflation until the job is done. ![]() US stocks are heading higher and are set to end the week higher for the first time in a month as the market mood improves.
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