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RBA Keeps Interest Rates at 4.35%, Says Interest Rate Path ”Remains Uncertain”
Partner Center Find a Broker As expected, the Reserve Bank of Australia (RBA) maintained its interest rates at 4.35% in May. The central bank’s statement noted that Inflation to return to the target 2% – 3% range in H2 2025 and to 2.5% in 2026 Short-term inflation would “decline more slowly over the
Daily Broad Market Recap – May 6, 2024
Partner Center Find a Broker Major financial assets started the week on a chill note as a lack of market movers gave traders room to prep for this week’s potential catalysts. How did your favorite assets fare yesterday? Headlines: Caixin China General Services PMI for April: 52.5 vs. 52.7 previous;
Daily Broad Market Recap – May 1, 2024
Partner Center Find a Broker Financial markets had a mixed run in the past trading sessions, as there were plenty of factors in play even before the highly-anticipated FOMC decision was announced. Read on to find out how it all went down! Headlines: Japan’s S&P Global final manufacturing PMI for
FOMC Holds Rates Steady, Reiterates ‘Lack of Progress’ on Inflation
Partner Center Find a Broker As expected, the Federal Open Market Committee (FOMC) kept interest rates on hold at 5.25-5.50% during their May meeting. Still, U.S. central bank officials agreed to slow down the pace at which it is reducing bond holdings on their balance sheet, slightly loosening mone
New Zealand Economy Shed Jobs in Q1, Unemployment Rate Rose to 4.3%
Partner Center Find a Broker The New Zealand economy unexpected lost 0.2% jobs quarter-on-quarter in Q1 2024, bringing the unemployment rate up from 4.0% to 4.3% during the period. Underlying components revealed that the labor force participation rate dipped from 71.9% to 71.5% to suggest that folks
Canada’s GDP Data Showed Slower Growth in February, ”Unchanged” GDP in March
Partner Center Find a Broker Canada’s economy grew by 0.2% in February, a bit under the 0.4% growth that the markets had expected and weaker than January’s 0.5% uptick. A closer look shows that service-producing industries led the increases for a second month in a row thanks to transportation and wa
Daily Broad Market Recap – April 29, 2024
Partner Center Find a Broker The market holiday in Japan and the lack of verbal intervention from Japanese officials weren’t enough to stop the yen from making big moves! Here’s how it all went down. Headlines: Major city in southwest China (Chengdu) removed home-buying curbs to support property sec
BOJ Kept Rates Unchanged As Expected, Markets Await Ueda
Partner Center Find a Broker The Japanese central bank kept interest rates on hold at <0.10% as expected while mostly maintaining forecasts for next year’s growth and inflation figures. Bank of Japan (BOJ) benchmark rate steady at <0.10% Annual CPI projected to stay within 2.5-3.0% range in 20
Daily Broad Market Recap – April 24, 2024
Partner Center Find a Broker A strong U.S. economic release brought back “higher for longer” bets for the Fed! What would that mean for the major financial assets? We’re taking a closer look at their reactions: Headlines: Australia’s inflation slowed but is still faster than expected in Q1 2024 Germ
Australia’s Inflation Slowed but Is Still Faster Than Expected in Q1 2024
Partner Center Find a Broker Consumer prices in Australia rose by 3.6% from a year ago in Q1 2024, which is slower than Q4 2023’s 4.1% increase but still faster than the 3.4% uptick that the markets had expected. It also marked the fifth consecutive quarter of lower annual inflation since the 7.8% r
Daily Broad Market Recap – April 18, 2024
Partner Center Find a Broker Improved risk sentiment and a bit of profit-taking started the U.S. dollar on weak footing, but a few U.S. data releases soon turned the tide for the Greenback. Which market themes dominated in the previous trading sessions? We have the deets! Headlines: NAB quarterly bu
Australian Economy Saw Net 6.6K Job Losses in March, Jobless Rate Ticked Higher
Partner Center Find a Broker Australia reported net 6.6K job losses in March 2024 instead of the estimated 7.2K increase in hiring, far below the earlier 117.6K gain, bringing the unemployment rate up from 3.7% to 3.8%. Underlying data showed that the losses were mostly due to declines in part-time
New Zealand’s Quarterly CPI Still Reflected Sticky Inflation
Partner Center Find a Broker New Zealand just printed its Q1 2024 CPI figures, with the headline reading coming in line with expectations of a 0.6% quarterly uptick. Not only was the actual result stronger than the previous period’s 0.5% increase in price levels, but underlying components also refle
Daily Broad Market Recap – April 15, 2024
Partner Center Find a Broker A combination of risk-off flows and upbeat U.S. retail sales data lifted the Greenback against its counterparts in the past trading sessions. Treasury yields were also on the rise while stock indices didn’t seem too cheery about the prospect of borrowing costs staying hi
Daily Broad Market Recap – April 11, 2024
Partner Center Find a Broker All eyes and ears were on the European Central Bank (ECB) decision, plus another batch of U.S. inflation data. How did the markets react to these catalysts? Here’s what happened in the latest trading sessions. Headlines: ECB kept interest rates on hold at 4.50% for the f
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