US dollar strengthens amid interest rate hike betsAUDUSD drops below 0.7400 amid dollar strengthEURUSD struggling for a direction below 1.1600 The US dollar was on the front foot on Wednesday morning after a three-day losing streak triggered by a slide in Treasury yields. The dollar index, which measures the greenback strength against the majors, powered through the 94.00 … [Read more...] about AUDUSD Bearish Below 0.7400 on Dollar Strength As EURUSD Slide Persists
Forex News
China’s Factory Prices Jump 13.5% as Inflation Reaches 26-Year High
Source: National Bureau of Statistics of China. China’s factory inflation surges to a 26-year high in October as coal prices increased amid a power crunch in the nation’s industrial zone.CSI 300 down -0.53%, CNY USD up +0.01% The producer price index (PPI) rose to 13.5% from a year earlier, faster than a 10.7% increase in September.Consumer price increases also quickened, … [Read more...] about China’s Factory Prices Jump 13.5% as Inflation Reaches 26-Year High
Producer Price Growth Remains at Record-High in October
Source: Bureau of Labor Statistics Producer price growth remained at a record-high high in October, driven mainly by the growth in prices for final demand goods during the period. Wholesale prices rose 8.6% from the past year, unchanged from September and faster than the 8.3% recorded in August.The latest is the fastest reading in nearly 11 years since data collection and … [Read more...] about Producer Price Growth Remains at Record-High in October
China’s Central Bank to Offer Loans for Environment-Friendly Companies
Source: Bloomberg The People’s Bank of China is set to offer loans to local lenders focused on working toward cutting down carbon emissions. The PBOC said it will lend 60% of the needed funds at an interest rate of 1.75%, which can be used to provide loans at a higher rate.The program seeks to support firms in clean energy, energy-saving, environment-friendly sectors, and … [Read more...] about China’s Central Bank to Offer Loans for Environment-Friendly Companies
Philadelphia Fed Chief Patrick Harker Doesn’t See Rate Hikes Until Taper Is Complete
Source: Reuters Philadelphia Fed President Patrick Harker says any hikes in interest rates will wait until the tapering of bond purchases is complete. SPY is up +0.085%, DXY is down -0.06%. Harker still says the Fed is prepared to act in a high inflation environment if need be. He says inflation could moderate over the next year as imbalances of supply and demand … [Read more...] about Philadelphia Fed Chief Patrick Harker Doesn’t See Rate Hikes Until Taper Is Complete
