8 hours ago
Fed’s Collins says central bank may ‘move cautiously’ on future hikes
Based on the data, there could be more hikes for the Federal Reserve, but the central bank could take a more patient approach to policy-making, according to Boston Federal Reserve President Susan Collins.
“Overall, we are well positioned to proceed cautiously in this uncertain economic environment, recognizing risks while remaining steadfast and data-dependent, with the flexibility to adjust as circumstances arise,” he said in prepared remarks for a speech in Boston. Are.”
Despite some promising signs on the inflation front, he said, “further tightening may be needed.”
– Jeff Cox
7 hours ago
Dollar close to six-month peak
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US dollar index.
The Japanese yen also strengthened slightly to 147.44 per US dollar after rising 0.4% on Wednesday.
11 hours ago
the oil market has cooled down
Oil prices declined on Wednesday, reversing some of Tuesday’s gains that came after Saudi Arabia extended its production cuts.
Front-month futures for US benchmark West Texas Intermediate crude fell 0.2% to $86.53 a barrel.
Brent crude futures fell 0.4% to $89.67 a barrel, slipping below the $90 mark. Brent futures price was trading above $91 per barrel for some time on Tuesday.
– Jesse Pound
9 hours ago
ism services index rose more than expected in august
The services sector of the US economy grew at a faster pace than expected in August, according to an Institute for Supply Management gauge released on Wednesday.
The ISM Services Index registered a reading of 54.5%, representing the share of companies that registered growth during the period. This was up 1.8 percentage points from the July reading and better than the Dow Jones consensus forecast of 52.5%.
Services have expanded for eight consecutive months, while the manufacturing sector has seen contraction for 10 consecutive months.
At the industry level, inventories increased by 7.3 points and the employment index increased by 4 points. Order backlog declined by 10.3 points, the only sub-index to show contraction.