Market Update United States The impact of interest rate hikes has once again appeared. In September, when the Fed announced the third rate hike this year, the number of new homes and existing home sales reached a new low of nearly two years and nearly three years. The 30-year mortgage rate announced last week rose above 5%, a record high of more than seven and a half years. Trump directly criticized the Fed...
read moreMarket Update United States The S&P 500 index closed down 0.43%. The Dow Jones fell 0.50%. The Nasdaq gained 0.26%. S. Treasury Secretary Mnuchin said that he is open to the revision of the standards for the revision of the currency manipulator. Two modifications are currently being considered, one is to identify the currency manipulators in a broad definition in the 1988 Trade Act, even if the country to...
read moreMarket Update United States Initial Jobless Claims and Philadelphia Fed Manufacturing Index data will be announced at 13:30 Ignore Trump sniper Fed's September meeting minutes(FOMC) point to further rate hikes White House economic adviser Kudlow said on Wednesday that Trump is not asking the Fed to change its policy. Yesterday, Trump said that raising interest rates is his biggest threat at present. Kudlow said:...
read moreMarket Update United States Building Permit and Housing Starts data will be published at 13:30 FOMC Member Brainard Speaks and FOMC Meeting Minutes will be held at 17:10 and 19:00 respectively Morgan Stanley's quarterly revenues were both higher than expected, and it was strong in trading and investment banking. It was the only three of Wall Street's five major businesses – fixed income, stock trading and...
read moreMarket Update United States Industrial Production data will be announced at 14:15 JOLTs Job Openings data will be released at 15:00 Former Federal Reserve Chairman Yellen once again expressed support for the interest rate hike, saying that there is no need to worry about the yield curve, because the current situation is different, the Fed needs to adjust the interest rate to a neutral level to stabilize the...
read moreMarket Update United States The S&P 500 closed down 3.29%, the biggest one-day drop since February. Dow Jones fell 3.15%, hitting a new low since August 16. NASDAQ fell 4.08%, hitting a new low since July 3. Core CPI and Initial Jobless data will be announced at 13:30 This is the second day that Trump accused the Fed of raising interest rates this week. Trump’s third public dissatisfaction after the...
read moreMarket Update United States The Core PPI data will be released at 13:30 Due to the U.S. ambassador to the United Nations, Haley, unexpectedly resigned, the dollar basically retreated within the day. Trump said that the US economy does not have inflation problems. He believes that it is not necessary to raise interest rates so quickly. This is the second time Trump has publicly expressed dissatisfaction with the...
read moreMarket Update United States Affected by the hurricane of Florence, the US nonfarm payroll employment population fell below expectations in September, and it was the lowest since September 2017. Last Friday, the US Commerce Department released data showing that the US trade deficit in August was 53.2 billion US dollars, a record high of nearly 6 months. New York Fed President Williams said the US economy is still...
read moreMarket Update Europe The European Court of Auditors’ annual report revealed the EU’s pension liabilities skyrocketed by more than £12billion in a single year. The findings showed that the bloc’s spending promises reached a record €267billion (£236billion) in 2017, almost twice the size of the EU’s annual budget, which marked a significant increase from €239bilion (£211billion) in 2016. The EU’s...
read moreMarket Update United States The initial Jobless Claims will be released at 13:30 Cap Goods Ship Non Defense Exclude Air data and Factory Orders data will be published at 15:00 Fed Chairman Powell said that low interest rates are no longer suitable, we are still far from neutral interest rates. US ADP employment in September increased by 230,000, significantly better than expected. The US ISM...
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