Fed holds U.S. rates steady, hints at pause in further rate hikes
02 February, 2019, 07:40 | Author: Lawrence Cooper
Asian shares crept back from four-month highs on Friday as a dismal survey on Chinese factory activity dulled optimism about the prospects for a China-US deal on tariffs.
"Dollar/yen is expected to remain weak given a dovish Federal Reserve but we can expect a bigger move down if there is a return of risk-off sentiment", said Sim Moh Siong, currency strategist at Bank of Singapore. -China trade deal might be on the cards.
The data suggests slower US growth and adds to a growing list of economic readings indicating slowing global growth.
The economist likens the situation to that of the cycle in 2004-6 when the Fed hiked interest rates 17 times to a high of 5.0%, and although he does not expect interest rates to rise as high as that in this cycle, the pattern will probably be similar.
Futures indicated a timid start to trading on Wall Street.
The International Monetary Fund predicted the global economy will grow at 3.5 percent in 2019, down 0.2 percentage point from last October's forecasts, citing weakness in Europe and some emerging markets.
A record number of balance-sheet bombs are threatening the stock market's health.
The Fed held interest rates steady as expected on Wednesday but discarded pledges of "further gradual increases" in interest rates, and said it would be "patient" before making any further moves amid a cloudy outlook for the USA economy due to global headwinds.
The Fed held rates steady, discarded its promise of "further gradual increases" in rates and said it would be "patient" before making any further moves.
"The very dovish tone from the Fed is clearly supportive to risk", said an economist at Fidelity International.
Viewpoint: Not just an interim Budget
Goyal said the tax scrutiny would be done electronically eliminating any interaction between the tax authority and the taxpayer. Further, standard deduction has been raised from Rs 40,000 to Rs 50,000, which will benefit 30 million salaried individuals.
Proteas take series with comfortable win at Newlands
Malik said he believed Pakistan were making good progress ahead of the World Cup in England and Wales, which starts on May 30. Group B features England and West Indies, South Africa , Pakistan and the other yet to be confirmed qualifying team.
It's Back: Polar Vortex Brings -50 Temperatures Next Week
Chicago, North Dakota, Minnesota, New York, Philadelphia, and more major cities are told to anticipate the huge temperature drop. Even if the early-week storm fails to deliver snow to these cities, temperatures can still be held 10 to 20 degrees below normal.
Sales in Southern California fell over -20% in the same period, the slowest rate since 2007, and triggered even deeper concerns about the state of the housing market in the USA and the broader economy. -China trade talks, negotiations over Britain's departure from the European Union on a rocky track, and US elected officials unable to agree on a budget.
Up until now, growth has been obscured by a slow Q1 due to shut-down and bad weather, and because the data has been delayed.
Broader risk sentiment remained somewhat robust after a top US negotiator on Thursday reported "substantial progress" in two days of high-level talks on trade with China.
The top US negotiator at the talks reported "substantial progress" in the talks. On Friday, the employment report is scheduled at around midday which includes the Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate reports.
The previously upbeat mood was also chilled somewhat by White House insistence that March 1 was a hard deadline for a deal, a failure of which would lead to an increase in United States tariffs on Chinese goods. "Both sides also have an incentive, and arguably a growing incentive, to get a meaningful deal done". E-Mini futures for the S&P 500 eased 0.1 per cent and spread betters pointed to a marginally mixed start for European bourses. The Dow slipped 0.06 percent.
Of the 210 S&P 500 companies that have reported fourth-quarter results, 71 percent topped profit estimates, according to Refinitiv data.
The Nasdaq gained 9.7 per cent in the month and the Dow rose 7.2 per cent.
Against a basket of currencies, the dollar was a fraction firmer at 95.622 thanks in part to a pullback in the euro to $1.1439. The MSCI Asia Pacific Index jumped 1.2% while the MSCI Emerging mkt index added 1% - And while trade talks are in high gear in DC today - the excitement is all around the FED and their policy statement.Japan + 1.06%, Hong Kong +1.05%, China +1.05% and ASX - 0.37%.
The single currency took a knock when Bundesbank president Jens Weidmann painted an unusually bleak picture of the German economy, saying the country's slump will last longer than initially thought.
Right now, the investigation is close to being completed.Fundamentally, the Mueller investigation has a very defined scope". Mueller's probe began in May of 2017 and has resulted in criminal charges against a number of aides to President Trump.
American pop sensation Ariana Grande is being roasted online after enduring a bad experience while getting a new tattoo . When the gorgeous vocalist dropped " 7 Rings " earlier in January, Soulja Boy came at her for stealing his flow.
Critics dismissed Beijing's commitments as vague, and Trump backed away from Mnuchin's deal and chose to proceed with tariffs. They're coming to the White House for a meeting with Trump on Thursday afternoon.
West Ham have agreed a deal to sign Michy Batshuayi on loan from Chelsea , according to journalist Ed Aarons of The Guardian . However, it has not been a successful spell in Spain for the Belgium global .
Samsung's Unpacked launch event takes place on February 20 but it seems the device may arrive in stores on Friday March 8. We might also see a triple-camera setup on the Galaxy S10 series and either Qualcomm Snapdragon 855/Exynos 9820 chipset.
And Democratic Senator Jon Tester laughed when he was asked if he hoped that Trump and Pelosi would provide room to negotiate. The president and Democrats are at an impasse over Trump's request for $5.7 billion in funds for border wall construction.
The disputed president Nicolás Maduro is still clinging on to power and has broken diplomatic ties with the US government. Russian Federation has accused Washington of trying to usurp power in Venezuela and warned against military intervention.
Booker is the second black candidate in the increasingly large and diverse 2020 Democratic primary field. Recently Booker worked closely with Republicans to advance bipartisan criminal justice reform policy.
The winds will be whipping WSW 10-25 miles per hour keeping wind chills -20°F to -35°F or colder especially in the morning. At least, that wind direction actually helped temperatures along the shoreline reach the upper teens south of Alpena.
It's time to start using the tools and technology that is available to them to help keep the integrity of game intact. The NFL has admitted in a document filed in court that an officiating mistake was made in the NFC championship game.
Davis would be a rental for Celtics
But the past few days have destabilized situations across the league, and the Celtics are in the center of that storm. Irving addressed the media Friday and said he would discuss his free agency on July 1.
Alonso anchors victory in first Rolex 24 stopped for rain
When the safety vehicle finally pulled the field down pit lane, Alonso grabbed an umbrella and went to talk to the driver. South African auto owner Taylor knew it was time to stop when he heard Alonso on the radio trying to hang on.
1; Tiger Woods Rises to 12th
He carded five birdies in nine holes, finishing with two birdies to close the day at -5 and the tournament itself at 10-under. He did manage to knock in back-to-back birdies on his back nine which included a chip-in birdie on his 13th hole.