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Atlanta Federal Reserve (Fed) President Raphael Bostic said that high inflation remained the Fed’s main risk, but added that signs of labour market weakness still pointed to a single quarter-point rate cut this year.Key QuotesPrice stability remains the primary concern, though a single quarter-point rate cut still looks appropriate this year.Risks to inflation and the job market are closer to balance, but inflation is still above target.The full implications of trade policy and other changes remain unclear.Tariffs’ effect on consumer prices won’t fade quickly and may take months to materialise.Firms can’t absorb higher tariffs for much longer.We will not be…

The number of job openings on the last business day of July stood at 7.18 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This reading followed the 7.35 million (revised from 7.43 million) openings recorded in June and came in below the market expectation of 7.4 million.”Over the month, both hires and total separations were unchanged at 5.3 million. Within separations, both quits (3.2 million) and layoffs and discharges (1.8 million) were unchanged,” the BLS noted in its press release and continued:”The number of job openings decreased in…

The USD/JPY forecast indicates continued yen weakness amid political uncertainty in Japan. The Secretary General of Japan’s ruling party is planning to resign. Economists are predicting a low US job growth of 75,000.  The USD/JPY forecast indicates continued yen weakness amid political uncertainty in Japan. Meanwhile, the dollar is on the front foot as market participants prepare for Friday’s crucial US employment report.  –Are you interested in learning more about forex indicators? Check our detailed guide-  The yen slid on Tuesday after reports that the Secretary General of Japan’s ruling party was planning to resign. Hiroshi Moriyama is a close…

The Indian rupee ended higher on Wednesday even as most Asian currencies fell, with market participants betting on the unit staging a recovery in the near term, while weakness in the dollar index and strong local shares also aided sentiment. The currency ended at 88.0700, up 0.1% from Tuesday’s close of 88.1550. It hit an intraday high of 87.9900 before declining below the 88-mark. The rupee, which is among the worst-performing Asian currencies this year, hit an all-time low of 88.33 per dollar on Monday on outflows as well as concerns from the fallout of U.S. tariffs.A Reuters poll of…

The rupee recovered 9 paise from its all-time low level to settle at 88.06 (provisional) against US dollar on Wednesday, on positive domestic equities, softening of crude oil prices and weak US dollar index.Forex traders said the rupee is trading near all-time low levels amid persistent foreign fund outflows on the back of ongoing trade tariff concerns between India and the US.At the interbank foreign exchange market, the rupee opened at 88.15 against the US dollar, then fell to an intraday low of 88.19 and a high of 87.98 against the American currency.The domestic unit finally settled for the day…

A muted trend in domestic equities further dented investors’ sentiments | Photo Credit: PRAKASH SINGH The rupee recovered 15 paise from its all-time low level to 88.00 against the US dollar in early trade on Wednesday as persistent foreign fund outflows and dollar strength weighed on investor sentiments. Forex traders said the rupee is trading near an all-time low level, driven by risk-averse sentiments amid India-US trade deal uncertainty. Moreover, a muted trend in domestic equities further dented investors’ sentiments. At the interbank foreign exchange market, the rupee opened at 88.15 against the US dollar, then touched 88.00, registering a…

The Australian Dollar trims losses recovering from a five-day low as the US Dollar’s intraday momentum fades.US ISM manufacturing PMI signals contraction, with rising prices paid underscoring sticky cost pressures.Focus shifts to Wednesday’s Australian data, with Q2 GDP, AiG Industry Index, and S&P Global PMIs set to guide AUD sentiment and RBA outlook.The Australian Dollar (AUD) trims some of its earlier losses against the US Dollar (USD) on Tuesday, recovering from a five-day low as the Greenback loses momentum after its broad intraday rally. The modest pullback in the AUD/USD pair also reflects trader repositioning ahead of Australia’s Q2 Gross…

The Dow Jones declined heading into the first American market session of September.Renewed broad-market bond, government financing, and inflation concerns weigh on investors.US Manufacturing PMI figures showed a sixth straight month below 50 as tariffs weigh on companies.The Dow Jones Industrial Average (DJIA) shed around 550 points on Tuesday, with American markets returning from a long weekend with renewed selling pressure. Rising bond yields, government funding concerns, and fresh inflation concerns pummel investor sentiment through the overnight session. US markets flubbed an attempt to right the equities ship after Institute for Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) figures…

XAU/USD rallies over 2% after clearing April’s peak and setting a new record high at $3,530.Safe-haven demand surges amid Fed independence fears, US policy uncertainty and higher Gold ETF inflows.Mixed US PMI data deepens risk-off tone, with focus shifting to Friday’s pivotal Nonfarm Payrolls release.Gold prices soar to a new all-time high past the $3,500 figure on Tuesday, rallying more than 2% even though the US Dollar advances and US Treasury yields rise. Risk aversion dominates, despite forecasts of a potential Federal Reserve (Fed) rate cut in September. XAU/USD trades above the $3,520 figure, after bouncing off daily lows of…

The US Dollar (USD) regained sudden buying interest and advanced to multi-day highs on Tuesday as investors continued to factor in a couple of interest rate cuts by the Federal Reserve in the latter part of the year.Here’s what to watch on Wednesday, September 3:The US Dollar Index (DXY) snapped a five-day negative streak on Tuesday, propped up by a decent rebound in US yields across the curve. The usual weekly MBA Mortgage Applications are due prior to the JOLTs Job Openings, Factory Orders, the Fed Beige Book, and the API’s weekly report on US crude oil inventories. In addition,…