News Formal

Stocks, gold bounce after cooler US inflation; Fed imminent

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

LONDON :Global shares rallied, while the dollar sank and gold surged on Wednesday, after data showed U.S. consumer inflation was a lot milder than expected in May, increasing the chances of a markets-friendly interest rate cut as soon as September. The Bureau of Labor Statistics said U.S.

FILE PHOTO: People walk on an overpass past office towers in the Lujiazui financial district of Shanghai, China October 17, 2022. REUTERS/Aly Song/File PhotoLONDON :Global shares rallied, while the dollar sank and gold surged on Wednesday, after data showed U.S. consumer inflation was a lot milder than expected in May, increasing the chances of a markets-friendly interest rate cut as soon as September.

Even though prices did not change on a monthly basis, inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong jobs market. "While September may be on the table, today would have had to be the first of a handful of inflation data prints that went right, which it did," Lindsay Rosner, head of multi-sector investing at Goldman Sachs Asset Management, said.

Next up is the Fed rate decision. The central bank is not expected to make any change to interest rates at its policy meeting. Instead, the focus will be on whether it keeps three rate cuts in its"dot plot" projections for this year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks inch lower, dollar firm as Fed focus intensifies; crypto soarsTOKYO : Asian stocks drifted lower while the dollar held firm on Tuesday as investors awaited minutes of the Federal Reserve's latest policy meeting to gauge the timing and extent of possible interest rate cuts this year.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Singapore stocks open higher on Thursday following global market gains—STI climbed by 0.5%Heavily traded stocks included Thai Beverage, Genting Singapore, and Mermaid Maritime.
Source: IndependentSG - 🏆 9. / 63 Read more »

Currency market steadies ahead of US inflation test, Fed decisionTOKYO : The dollar steadied on Wednesday after hitting a four-week high against peer currencies overnight as market players awaited key U.S. inflation data and the Federal Reserve's updated interest rate projections due later in the day.The U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »