Source: Bloomberg. The Federal Reserve is largely expected to announce the reduction of asset purchases at the end of its policy meeting Wednesday. DXY down -0.06%, EUR USD up +0.03% The Federal Open Market Committee is highly likely to hold rates near zero after a two-day policy meeting and announce a $15 billion monthly reduction in bond purchases from the current $120 … [Read more...] about Time To Taper Bonds Smoothly, Not Rate Hikes, Says Powell
Forex News
UK Services Sector Posts Three-Month High With Restrictions Eased
Source: IHS Markit Service providers in the United Kingdom posted a three-month high in terms of business activity growth in October, driven by the reopening of the economy and easing of restrictions. EWU is flat premarket. The headline seasonally adjusted IHS Markit/CIPS UK Services PMI Business Activity Index stood at 59.1 in October, up from September’s 55.4.The latest … [Read more...] about UK Services Sector Posts Three-Month High With Restrictions Eased
Boost of Global Vaccination Would Ease Inflation, Says IMF Chief
Inflation is expected to tame down should global vaccination pick up, International Monetary Fund Managing Director Kristalina Georgieva said, Bloomberg reports. Georgieva said the vaccination program should be boosted to ensure that production steps up, and divergence will drive more unrest.The IMF official said supply constraints are expected to persist until … [Read more...] about Boost of Global Vaccination Would Ease Inflation, Says IMF Chief
Eurozone Manufacturing Falls to Eight-Month Low
Source: IHS Markit Eurozone manufacturing slowed to an eight-month low in October, as supply issues dampened production during the month. EZU is up 0.91%. The final IHS Markit Eurozone Manufacturing PMI stood at 58.3 in October, lower than the flash estimate of 58.5 and lower than 58.6 in September.The latest reading is the lowest level in eight months since February.The … [Read more...] about Eurozone Manufacturing Falls to Eight-Month Low
US Dollar Index (DXY) Prediction Ahead of FOMC and NFP Data
The US dollar index (DXY) has erased some of the spectacular gains it made on Friday after the US published the latest personal consumer expenditure (PCE) and income data. The index has declined to $93.93, which is about 0.45% below the highest level on Friday last week. Fed decision ahead The dollar index has declined as focus shifts to the Federal Reserve, which will … [Read more...] about US Dollar Index (DXY) Prediction Ahead of FOMC and NFP Data
