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U.S. Highlights The U.S. added fewer jobs than expected in August, even as wage growth accelerated, and the unemployment rate edged down. Additionally, JOLTS data pointed to lower job openings, suggesting that the U.S. labor market continued to cool. Fed Governor Williams stated that the time had come for less restrictive monetary policy but remained […]

The post The Weekly Bottom Line: With Employment Slowing, The Time to Cut is Here appeared first on Action Forex.

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08/05/2024

USD Extends Gains as Investors Shrug Off Fed Optimism

Yesterday was one of those days where we needed to fit a narrative to the market moves as the moves weren’t triggered by meaningful data or comments. The US 2-year yield was steady near the 4.80% level, the stocks were slow to move, the S&P500 traded slightly up, Nasdaq 100 came slightly down. Federal Reserve’s […]
22/03/2024

Sudden Weakening of Chinese Yuan Stands Out in Asian Dealings

Markets German Bunds outperformed US Treasuries yesterday. The front end lost up to 5 bps with longer maturities easing between 1.1 and 2.7 bps. Aside from catching up with post-Fed US markets, it also followed yesterday’s PMI readings. While slightly better on the account of services (51.1), easing price pressures (be it from elevated levels) […]
31/05/2024

U.S. Consumer Spending and Income Slow in April

Personal income slowed to 0.3% month-on-month (m/m) in April, down from March’s 0.5% gain, but in line with market expectations . Accounting for inflation and taxes, real personal disposable income declined -0.1% m/m in April, reversing all of last month’s gain. Personal consumption expenditures rose by 0.2% m/m. This is lower than the revised 0.7% […]