Source: The Federal Reserve The Federal Reserve chose to keep interest rates and bond-buying unchanged but remained optimistic the economic recovery is on track despite the rise in the Covid cases. SPY is up +0.21% on premarket, DXY is down -0.25%. The Fed said it would reduce the $120 billion in monthly bond purchases once it sees strong payroll numbers, saying the … [Read more...] about Dovish Fed Upbeat About Economic Recovery Despite Surge in Coronavirus Cases
China’s Central Bank Injects $4.6 Billion Cash to Soothe Market Crackdown Fears
Source: Bloomberg The People’s Bank of China injected 30 billion yuan or $4.6 billion of liquidity into its financial system in further moves to cool the market from regulatory fears. CSI 300 is up +1.89%, Hang Seng Index is up +3.30%, USDCNY is down -0.49%. PBOC’s move is a shift from its usual daily liquidity operations amid seasonal liquidity tightness in the … [Read more...] about China’s Central Bank Injects $4.6 Billion Cash to Soothe Market Crackdown Fears
China’s Regulator Move to Cool Markets Sends Major Stock Indexes Higher
Source: Bloomberg Chinese security regulator convened an urgent virtual meeting with banking executives on Wednesday helping its under-pressure stock indexes surge. CSI 300 is up +0.19%, Hang Seng Index is up +1.54%. The China Securities Regulatory Commission grew concerned about the rout in stocks and convened a meeting with banking executives on Wednesday night to … [Read more...] about China’s Regulator Move to Cool Markets Sends Major Stock Indexes Higher
US Trade Deficit Widens by $3.0 Billion in June
Source: Census Bureau The global trade deficits in the US rose by $3.0 billion to reach $91.2 billion in June, from $88.2 billion in May. SPY is down -0.0068%, DXY is up +0.22%. Goods exports rose by $0.5 billion to $145.5 billion in June from May while imports were $236.7 billion, up by $3.5 billion from May. Wholesale inventories surged 0.8% to $715.0 billion in … [Read more...] about US Trade Deficit Widens by $3.0 Billion in June
AUDJPY Analysis: Aussie Inches Lower As IMF Lowers Japan’s Growth Forecast
Australia’s CPI surged 0.8% in Q2 2021, while annual inflation into the quarter increased by 3.8% (YoY). Japan’s leading indicator index inched 1.16% down to 102.6 from an annual high of 103.8 attained in April 2021. Sydney has extended its lockdown by four weeks, further hurting the Australian dollar. The AUDJPY pair lost 0.79% as of 3:33 pm GMT on July 27, … [Read more...] about AUDJPY Analysis: Aussie Inches Lower As IMF Lowers Japan’s Growth Forecast
