The climate of caution continues to dominate the financial markets despite the slight rebound in futures. Oil prices fall more than 3%, metals also fall. The dollar rises but moderately. Inflation in the Eurozone sets a new record, US employment data is coming. Wall Street futures trade with small gains on Wednesday, while in Europe […]
Tag: Inflation
Eurozone: Annual inflation reaches a new all-time high of 9.1% in August
The Preliminary consumer price index (CPI) for the euro zone has risen to 9.1%, a new all-time high. The indicator grows two tenths from the 8.9% registered in July, and exceeds market expectations of 9%. Regarding the main components of inflation in the euro area, Eurostat reveals that energy is expected to have the highest […]
Eurozone: New record of inflation at 9.1% in August, +11.1% in Greece
Inflation in the Eurozone continued its rally in August, surpassing analysts’ estimates with a new record high of 9.1% from 8.9% in July, according to the initial data released today by Eurostat. Analysts’ average estimates put the index at 9%. The jump in energy prices remains dizzying, with an annual rate of 38.3% in August […]
The ‘ghost of 1994’ of the Fed is haunting Asian markets
By William Pesek Asia will always have complicated feelings about Alan Greenspan. In the mid-to-late 1990s, the then chairman of the Federal Reserve Bank (Fed) was a real celebrity. His photo was featured in People magazine, Entertainment Tonight and on the front pages of national newspapers. Managing the world’s largest economy brought a brilliant biography […]
Forex Today – Asian Session: Beware EU Inflation Overheating
What to watch for on Wednesday, August 31: The gloomy market environment eased early on Tuesday, although investors are far from optimistic. The USD lost some ground during the first half of the day, mostly against its high yielding rivals, but rallied during US trading hours, rising against most major rivals except the Euro. The […]
Nagel: We shouldn’t delay rate hikes because of recession fears
The European Central Bank must act decisively to contain inflation, Bundesbank chief Joachim Nagel said on Tuesday, following other officials who have called for a big rate hike next week, Reuters reports. The ECB raised interest rates by 50 basis points last month, and the only real question heading into September seems to be whether […]
AUD/USD at weekly highs, pulls back below the 50 DMA
AUD/USD hit a weekly high around 0.6956, but data and sentiment bolstered the USD. Rising US Treasury yields underpinned the dollar, creating a headwind for AUD/USD. US consumer confidence improves, while job openings rise. The AUD/USD faced strong resistance around the 20-day EMA at 0.6959 and dipped below 0.6900 amid a risk-off drive, with the […]
Gulf banks with exposure to Turkey will suffer further losses, says Fitch
Gulf banks with exposure to Turkey are expected to post further currency losses on their investments in the second half of this year and into 2023, ratings agency Fitch said on Tuesday. Gulf banks with Turkish subsidiaries are estimated to have posted net currency losses of $950 million for the first half of 2022, Fitch […]
Germany: ‘Jump’ 8.8% and a record for inflation
Inflation in Germany rose to a record on rising energy prices, boosting calls for a big rate hike at the European Central Bank’s meeting next week. In particular, consumer prices in Europe’s largest economy, which are calculated according to the European Union’s harmonized standards, jumped 8.8% year-on-year in August, according to average estimates in a […]
Klaas Knott (EKT): We must raise interest rates up front
The Dutch central banker and member of the Board expressed the view that the European Central Bank must immediately tighten its monetary policy, possibly even front-loading because inflation may move even higher. of the Bank Klaas Not. “Rapid normalization of interest rates is an essential first move, while some forward-looking hike should not be ruled […]