Intra-Day Market Moving News and Views
23 Mar 2016 00:12GMT
USD/MARJORS - President of Federal Reserve Bank of Philadelphia Patrick Harker in a meeting, telling the reporters that he is "pretty optimistic" that wage pressures will influence broader U.S. inflation measures, and that Fed should consider another rate hike if economy continues on path with all fomc meetings in play for future rate rise.
He will back more rate hikes than median Fed 'dots' forecast, the supported holding rates steady last week in part due to recent market volatility.
He added that the core inflation moving is in the right direction, and with the oil appears to have stabilized or bottomed, and that they need to continue to "get on with" rate hikes, economy resilient.
Further, he thinks that there is a strong case to continue to raise rates and a need to tighten moves that hang on economic conditions. They would prefer to hike rates more than twice this year, and it's ok to overshoot 2 pct inflation target.
With the monetary policy limited, that cannot boost U.S. growth potential, so a needed debate over potential growth at heart of debate within fomc.
He expects subdued growth over the next 2-3 years, and can sees possible 'slow-growth trajectory for some time to come'.
He also suggests tax, education measures that would boost long-term growth prospects.
More of his comments to follow.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.