Author: admin

US Federal Reserve (Fed) Chair Jerome Powell said that they will adopt a new policy framework of flexible inflation targeting and eliminate ‘makeup’ strategy for inflation, while delivering a speech on “Economic Outlook and Framework Review” at the annual Jackson Hole Economic Symposium.Powell speech at Jackson Hole Symposium, key takeaways”Framework calls for balanced approach when central bank’s goals in tension.””Prior framework’s emphasis on overly specific set of economic conditions may have led to some confusion.””Framework removes language indicating zero-lower-bound is a defining feature of economy.””New framework designed to work in a range of economic conditions.””Idea of intentionally moderate inflation overshoot…

Saudi Arabia exported less Crude Oil in June despite a significant increase in Oil production, according to data from the Joint Organizations Data Initiative (JODI), Commerzbank’s commodity analyst Carsten Fritsch notes. Additional Oil produced remaines in the domestic market”Crude Oil exports fell by 50,000 barrels per day compared to the previous month to 6.14 million barrels per day. Oil production, on the other hand, rose by 570,000 to 9.75 million barrels per day.” “This confirms previous statements from Saudi Arabia that the significant increase in Oil production has not led to a higher Oil supply on the world market. Instead,…

Oil prices received support in the middle of the week from an unexpectedly sharp decline in US Crude Oil inventories last week of 6 million barrels, as reported by the US Department of Energy, Commerzbank’s commodity analyst Carsten Fritsch notes. Crude Oil processing almost reached the annual high of early June”The API had reported less than half of this decline in inventories the day before. Participants in a Bloomberg survey had expected a drop of less than 1 million barrels. The sharp decline in inventories was driven by a significant drop in net imports due to increased exports and lower…

Every summer, the mountains of Wyoming become the center of the economic world. The Jackson Hole Symposium, organized by the Federal Reserve Bank of Kansas City, is more than just an academic gathering: it’s the stage on which the major orientations of global monetary policy are sometimes shaped.This year, the spotlight is even more intense. On Friday, Federal Reserve (Fed) Chair Jerome Powell is scheduled to deliver what will probably be his last speech in Jackson Hole as President of the US central bank.A key event for the marketsFor several decades now, Jackson Hole has been the event where central…

The EUR/USD outlook remains subdued under 1.1600 on Friday. Fading bets on Fed’s aggressive easing continue to support dollar. Market participants await Powell’s speech at the Jackson Hole Symposium. The EUR/USD outlook remains subdued as the price is headed downwards today during the European session, trading under the key level of 1.1600. The pair is on course to post a weekly loss of about 1% as traders adopt a wait-and-see approach before remarks by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium. –Are you interested to learn more about forex options trading? Check our detailed guide- Powell…

The dollar index, which gauges the greenback’s strength against a basket of six currencies, gained 0.11 per cent to 98.72. The rupee fell 27 paise to close at 87.52 (provisional) against the greenback on Friday as domestic equity markets ended weaker and the US dollar strengthened ahead of the speech of Fed Chairman Jerome Powell.However, inflow of foreign funds and a drop in Brent crude prices supported the domestic unit at lower level.At the interbank foreign exchange, the local unit opened at 87.37 against the greenback and traded in the range of 87.32-87.55 before settling at 87.52 (provisional), down 27…

The Indian rupee weakened further on Friday against a stronger dollar ahead of a speech by Federal Reserve Chair Jerome Powell, capping a volatile week for the Asian currency that has been pressured by U.S. tariff-related uncertainties. The currency closed 0.3% lower on Friday at 87.5300, against its close of 87.27 in the previous session. It was down 0.02% for the week. The local unit, which opened at 87.4575 on Monday, saw sharp swings through the week due to domestic and geopolitical developments.Talks between the U.S. President Donald Trump and the Russian and Ukrainian presidents, coupled with the Indian government’s…

AUD/USD remains under pressure around 0.6400 as the US Dollar trades firmly ahead of Fed Powell’s speech.Fed dovish speculation has slightly cooled ahead of Fed Powell’s speech at the Jackson Hole Symposium.Preliminary Australian PMI data grew at a faster pace in August.The AUD/USD pair trades cautiously near a fresh two-month low around 0.6400 during the European trading session on Friday. The Aussie pair is expected to remain on tenterhooks as investors await Federal Reserve (Fed) Chair Jerome Powell’s speech at the Jackson Hole (JH) Symposium at 14:00 GMT.Investors will pay close attention to Fed Chair Powell’s speech to get fresh…

The rupee declined 11 paise to 87.36 against the US dollar in early trade on Monday amid a rise in dollar demand. However, positive FII inflows and a decline in crude oil prices prevented sharper losses in the local unit as traders awaited US Fed Chief Jerome Powell’s speech at the Jackson Hole Symposium later in the day, forex traders said. The domestic unit opened at 87.37 against the US dollar and inched up to 87.36, down 11 paise from its previous close. The rupee pared initial gains on Thursday to settle lower by 18 paise at 87.25 against the…

The Dow Jones saw its lowest figures in over a week on Thursday.Equities are extending a near-term backslide as investors reconsider sky-high valuations.Forecast-beating PMI prints helped to limit losses, but markets remain concerned about rate cut forecasts.The Dow Jones Industrial Average (DJIA) softened on Thursday, testing 44,600 at its lowest point before staging a half-hearted recovery to 44,750. Equity traders are starting down the barrel of a hard adjustment to Federal Reserve (Fed) interest rate cut expectations in September, with tariff-led inflation effects quickly replacing lagging employment figures as the top point of concern for policymakers.The Dow Jones is still…