Category: Cuts
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Rupee dips; forward premiums rise amid near certainty on Fed rate cuts By Reuters
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Written by Nimesh Vora MUMBAI (Reuters) – The Indian rupee fell slightly on Thursday as a rally in peer Asian currencies paused, while futures premiums rose after Federal Reserve minutes and downward revisions to U.S. payrolls pushed it close to two-week lows. The Indian rupee was at 83.9425 per US…
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Dollar has more downside as Fed cuts approach
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Investing.com – The U.S. dollar has had a tough summer so far, and Capital Economics expects further declines over the next two years, citing unfavorable interest rate differentials and continued strong risk appetite. The dollar index, which measures the greenback against a basket of six other currencies, has fallen about…
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JPMorgan cuts Israel’s 2024 growth forecast
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Following recent negative macroeconomic data, JPMorgan has lowered its forecast for Israel’s GDP growth in 2024 to just 1.4%, down from 1.6% in its previous forecast. Under the title “Israel: An Unlucky Mix of Growth and Inflation Data,” US investment bank JP Morgan released revised forecasts for the Israeli economy,…
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Fed’s Bowman says she remains wary of future rate cuts
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And my siblings U.S. Federal Reserve Governor Michelle Bowman on Tuesday expressed caution about future interest rate cuts, citing the risks of higher inflation. Bowman has been one of the central bank’s most hawkish members, giving few signs of her willingness to support a rate cut at the Fed’s meeting.…
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Asia FX muted, dollar at 7-mth low with rate cuts in focus By Investing.com
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Most Asian currencies rose on Tuesday, while the dollar held at its lowest level in more than seven months amid growing conviction that the Federal Reserve will cut interest rates in September. The dollar’s weakness comes just days before Federal Reserve Chairman Jerome Powell speaks at the Jackson Hole symposium…
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Evercore ISI screens banks likely to fare better when the Fed cuts rates (NASDAQ:FITB)
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Richard Drew When the Fed raises interest rates, banks’ net interest income generally rises. So, when the central bank eases monetary policy, it makes sense that banks’ net interest income will fall. But it’s more complicated than that, as Evercore ISI explains. Analyst John Pancari said in a recent note…
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Evercore ISI screens banks likely to fare better when the Fed cuts rates (NASDAQ:FITB)
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Richard Drew When the Fed raises interest rates, banks’ net interest income generally rises. So, when the central bank eases monetary policy, it makes sense that banks’ net interest income will fall. But it’s more complicated than that, as Evercore ISI explains. Analyst John Pancari said in a recent note…
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Goldman cuts U.S. recession risk (S&P Complete Indices:SP500)
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fire A string of positive economic data in recent days has prompted Goldman Sachs to lower its forecast for the U.S. economy to 20% from 25% next year. In a research note issued on Saturday, the investment bank said: He pointed to further cuts in the next 12-month outlook, subject…
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Michael Burry Raises Alibaba Stake, Cuts Stock Portfolio in Half
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(Bloomberg) — Michael Burry, the hedge fund manager famous for his 2008 bet against the U.S. housing market and subsequent portrayal in the book and movie “The Big Short,” increased his stake in Alibaba Group Holding Ltd. while halving his overall stock portfolio in the second quarter. Most Read from…
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Unwinding of carry trade roadblock for BoJ hikes but not Fed cuts
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Investing.com – The recent sharp rise in the yen, as a result of the unraveling of the “yen carry trade,” may be a barrier to further increases by the Bank of Japan, but not a barrier to Federal Reserve cuts, Goldman Sachs analysts said. At 07:00 ET (11:00 GMT), the…
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Oil prices dip as OPEC cuts demand forecast, economic cues awaited By Investing.com
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Oil prices fell in Asian trading on Tuesday, reversing last week’s rally, as a series of economic signals this week raised caution, while OPEC also cut its forecast for demand growth in 2024. Prices rose sharply from their lowest levels in more than seven months as fears of an escalating…
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Treasury prepares 2025 emergency budget cuts plan
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Israel’s Finance Ministry is quietly preparing a contingency budget plan for 2025 in case the government avoids passing the 2025 budget for political reasons, sources familiar with the situation told Globes. According to the original timetable, the government was scheduled to approve the budget proposal this week, but there is…
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Weekend – Bank of America forecast no US recession, Fed rate cuts in September & December
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Bank of America CEO Brian Moynihan spoke about American TV Over the weekend. He warned the Federal Open Market Committee (FOMC): The Fed is in a position where it has to be careful not to slow down too much. He was referring to the planting of spending among consumers: Well,…
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Fed’s Bowman: Cautious on rate cuts, eyes upside inflation risks
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“I am not confident that inflation will come down in the same way it did in the second half of last year.” Inflation remains ‘uncomfortably above’ 2% target Labor market shows signs of slowing, but uncertainty remains Inflationary risks remain, including housing and geopolitical factors. Calls for patience in making…
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Fed official says no rate cuts yet, inflation still above target
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Kansas City Federal Reserve President Jeffrey Schmid indicated he is not prepared to support cutting interest rates as inflation rises above target and the labor market remains healthy despite some slowdown. Speaking to the Kansas Bankers Association, Schmid said the recent decline in inflation was “encouraging” and that further reports…
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UK salary growth slows, paving the way for potential interest rate cuts
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UK wage growth slowed last month while demand for workers remained flat, paving the way for further interest rate cuts by the Bank of England. Research from KPMG and the Recruitment and Employment Confederation (REC) reveals that the rate of pay growth for both permanent and part-time employees slowed in…
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Stocks shaken by US recession fears, bonds price for rate cuts By Reuters
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By Wayne Cole SYDNEY (Reuters) – Asia’s main stock indexes fell on Monday as growing fears that the United States could be headed for recession sparked a mass risk aversion and expectations that interest rates will have to be cut sharply and quickly to support growth. Investors picked up where…