"You could start to see the normalisation of monetary policy which would be a huge step for Japan (and) a very positive tailwind for the yen," Turner added
The US inflation report for December being released Thursday morning could provide another welcome sign that the worst bout of spiking prices in four decades is slowly weakening. Or it could suggest that inflation remains persistent enough to require tougher action by the Federal Reserve. Most economists foresee the more optimistic scenario: They think December marked another month in which inflation, though still uncomfortably high, continued to cool. According to a survey by the data provider FactSet, analysts have predicted that consumer prices rose 6.5 per cent in December compared with a year earlier. That would be down from 7.1 per cent in November and well below a 40-year high of 9.1 per cent in June. On a month-to-month basis, the economists think prices were flat in December. Even more significant, a closely watched gauge of core prices which excludes volatile energy and food costs is expected to have risen just 0.3 per cent from November to December and 5.7 per cent fro
The Nifty reclaimed the 18,000 mark and ended the session at 18,014, a gain of 208 points or 1.1 per cent
On December 15, after the US inflation of 7.1 per cent for November was announced, Bitcoin touched its five-week high of $18,400
Festive orders, sales in December down by 15-20% over last year
Markets feel that US central bank's aggressive rate hike cycle may be nearing an end
CLOSING BELL: The broader markets, on the other hand, outperformed the benchmark indices as the BSE MidCap and SmallCap indices advanced 0.59 per cent and 0.68 per cent, respectively
The consumer price index reading supports forecasts for the Federal Reserve to reduce the pace of monetary tightening
The overall CPI increased 0.1 per cent from the prior month and was up 7.1 per cent from a year earlier, as lower energy prices helped offset rising food costs
The domestic unit settled at 82.54 to the dollar on Monday, from 82.28 at previous close. So far in 2022, the Indian currency has shed 9.9% against the greenback
Reserves rise for 4th straight week on revaluation, likely RBI dollar purchases
Stocks are drifting on Wall Street Friday after a report showed inflation is slowing, though not quite as much as hoped. The S&P 500 was 0.2% lower in morning trading after earlier shifting between very small gains and losses. The Dow Jones Industrial Average was down 86 points, or 0.3%, at 33,695, as of 10:19 a.m. Eastern time, and the Nasdaq composite was 0.2% lower. Stocks around the world had earlier weakened after a U.S. government report showed prices getting paid at the wholesale level were 7.4% higher in November than a year earlier. That's a slowdown from October's rate of 8.1%, but it was nevertheless slightly worse than economists expected. The nation's high inflation, along with the Federal Reserve's economy-crunching response to it, have been the main reasons for Wall Street's painful tumble this year. Stocks have recovered some of their losses recently, as inflation has slowed since hitting a peak in the summer. But it remains painfully high, raising the risk that ...
Wholesale prices in the United States rose 7.4 per cent in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest year-over-year figure was down from 8 per cent in October and from a recent peak of 11.7 per cent in March. On a monthly basis, the government said Friday that its producer price index, which measures costs before they reach consumers, rose 0.3 per cent from October to November for the third straight month. Rising prices are still straining Americans' finances, particularly for food, rent and services such as haircuts, medical care and restaurant meals. Yet several emerging trends have combined to slow inflation from the four-decade peak it reached during the summer. Gas prices have tumbled after topping out at USD 5 a gallon in June. Nationally, they averaged USD 3.33 a gallon Thursday, according to AAA, just below their average a year ago. And the supply chain snarls tha
World stocks were mostly lower on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the challenges the Federal Reserve faces in battling inflation. Germany's DAX lost 0.2% to 14,421.84 and the CAC 40 in Paris also was down 0.2%, at 6,682.03. Britain's FTSE 100 lost 0.3% to 6,679.98. The futures for the S&P 500 and the Dow industrials were 0.1% lower. Highlighting worries over recession, Fitch Ratings revised its forecasts for world economic growth downward on Tuesday to reflect the Fed's and other central banks' interest rate hikes. The ratings agency's Global Economic Outlook report estimated global growth at 1.4% in 2023, revised down from 1.7% in its September forecast. It put U.S. growth in 2023 at 0.2%, down from 0.5%, as the pace of monetary policy tightening increases. China's growth forecast was cut to a 4.1% annual pace from 4.5%. Markets have been lifted by expectations China will press ahead with easing its stringent pandemic ...
Fall in US dollar index seen providing revaluation boost to RBI reserves
The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said
The meeting was held ahead of the RBI's next monetary policy review, which is scheduled December 5-7
The cryptocurrency market cap remained below $850 billion in the last seven days, and on Friday, the market cap was $835 billion
Rupee likely at 81.68 by December-end, largely stable at 81.75 by March-end
The euro fell 0.6% against the dollar to $1.0284 at 1130 GMT, after rising to a three-month high during Asian trading hours