Page 59 - Philly Fed News Today

New Zealand Dollar dropped broadly in Asian session today after a lower-than-expected consumer inflation reading increased speculation that the next RBNZ rate hike may be the last in the current cycle. This development also pulled Australian Dollar down, making them the day's worst performers so far. In contrast, Swiss Franc and Euro are trading higher, followed by US Dollar and Japanese Yen, suggesting that the markets are not in a risk-on mood. British Pound and Canadian Dollar are curren...

The US Treasury cash balance rose USD108bn on Tuesday. It should give the Treasury enough money to cover expenses until at least early June and potentially until mid-July amid the current debt ceiling constraint. US Speaker Republican, Kevin McCarthy is set to propose a USD1.5tn increase in the debt ceiling in return for among other things spending cuts. A group of moderate Republicans and Democrats in the House of Representatives are mulling a plan B to suspend the debt ceiling until the end of...

FTSE 100 Poised to Fall After Mixed Asia, US Losses 0642 GMT - The FTSE 100 Index looks set to open six points lower at 7892, according to IG futures data, after mixed trading in Asia and a negative close on Wall Street. Stocks in Australia trade f... | 03:05am

There are again plenty of Fed and ECB governors scheduled to give their view ahead of upcoming black-out period. We keep a close eye at the ECB comments to get some insight on the chances of an additional 50 bps step at the May meeting. We dissect Minutes of the ECB meeting in the same way. Markets probably underestimate the odds for such a move. This debate keeps EMU yields, especially at the short end of the curve, well supported. The German 2-y yield nears 3% resistance. The downside in EUR/U...

Forex news for North American trading on Apr 20, 2023

Philadelphia-area manufacturing activity unexpectedly contracted at an accelerated rate in the month of April, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.

The major U.S. index futures are currently pointing to a lower open on Thursday, with stocks likely to come under pressure after closing little changed for two straight days.

By Xavier Fontdegloria and Ed Frankl Manufacturing activity in the Philadelphia area unexpectedly extended its contraction for the eighth consecutive month in April, indicating that regional manufacturing is weakening further amid the pressures of... | 09:13am

After ending little changed for two consecutive sessions, stocks may come under pressure in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 0.

The USDJPY started to lose traction after repeated failure to clearly break through pivotal Fibo resistance at 134.75 (61.8% of 137.90/129.64 descend).