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US Fed Rate Hike
Asian currencies were mostly higher, with the Chinese yuan ticking higher as the country's economic growth beat forecasts
Officials voted unanimously to lower the federal funds rate to a range of 4.5% to 4.75%. The adjustment follows a larger, half-point cut in September
The Fed meets July 30-31, but under the central bank's rules policymakers can't comment about monetary policy from this Saturday, July 20, until the Friday after the meeting
At the same time, the labour market - the other part of the Fed's dual mandate - is still plugging along, albeit in a lower gear
Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading. Domestic equity markets would remain closed on Wednesday on account of Maharashtra Day. "Domestically, the next batch of Q4 earnings reports will drive stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Monthly auto sales figures will be announced at the beginning of May, and the next phase of voting will be significant, he said. "On the global front, the outcome of the US Federal Open Market Committee (FOMC) meeting on May 1st will be important. Economic data releases from China and the US, along with movement in the global currency market, will also be the factors to
In the euro zone, data may show that the slowdown in inflation stalled in April for the first time this year
The worst thing to do is act urgently when urgency is not required, Daly, one of 19 US central bankers who set monetary policy, said at the Stanford Institute for Economic Policy Research
From Amit Shah's visit to Assam to US Federal Chair Jerome Powell's statement on interest rates and keeping an eye on inflation, track all the news from around the world here
The Federal Reserve left interest rates unchanged on Wednesday while still keeping alive the possibility of more hikes given inflation remains above its 2 per cent target and economic growth is strong
The government is expected Thursday to report stellar growth for the US economy during the July-September quarter, highlighting the durability of consumer and business spending despite the Federal Reserve's efforts to cool the expansion with high interest rates. Last quarter's robust growth, though, will probably prove to be a high-water mark for the economy before a steady slowdown beginning in the current October-December quarter and extending into 2024. Thursday's report is sure to be seized upon by the Biden administration as evidence that its policies have helped spur solid growth, though surveys show that most Americans hold a sour view of the president's handling of the economy. The Commerce Department's figures are expected to show that the nation's gross domestic product the economy's total output of goods and services expanded at a 3.8% annual pace in the third quarter, according to a survey of economists by FactSet. If accurate, that would amount to the fastest quarterl
Use price dips to build a 10% allocation to gold
Stocks to watch on July 26, 2023: Tata Motors announced the cancellation of its DVR shares. Under the scheme, 7 ordinary shares of the company will be issued for every 10 DVR shares
The US Fed interest rate decision and ongoing quarterly earnings from corporates are the major factors to drive the equity markets this week, where the benchmark indices may face volatile trends amid the scheduled monthly derivatives expiry, according to analysts. Besides, trends in global markets and the trading activity of foreign investors would also influence domestic equities. "On July 26, the US Federal Reserve will announce its policy decision, and there is an expectation of a 25 basis point rate hike. Market participants will closely analyse the comments made during the announcement. Additionally, on July 28, the Bank of Japan will also reveal its policy decision," Santosh Meena, Head of Research at Swastika Investmart Ltd, said. Companies like Tata Steel, Asian Paints, Axis Bank, Bajaj Finance, BPCL and Tech Mahindra will release their earnings throughout the week, Meena added. Shares of Reliance Industries Ltd, India's most valuable company, will be in focus on Monday aft
Both Fed Chair Jerome Powell and ECB President Christine Lagarde have warned that inflation remains too high, forcing them to raise borrowing costs further
CLOSING BELL: The NSE Nifty 50 rallied 166 points. Index heavyweights HDFC, HDFC Bank and Reliance Industries contributed more than 60 per cent of the gain for Sensex.
For the past three weeks, Bitcoin was stuck in the range of $26,500 and $29,400
BofA pointed to data from April 3 showing US manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged
How will US Fed policy outcome affect markets? What's happening with Bisleri? Why can't Indian cities curb air pollution? What happened to Credit Suisse's AT1 bonds? All answers here
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The Fed's relentless rate hikes to rein in inflation have been partly blamed for sparking the biggest meltdown in the banking sector since the 2008 financial crisis