Investors’ optimism came to an end after the US Fed reiterated its determination to stamp out inflation, crushing hopes of an imminent stop to higher rates.
Investors’ optimism after US retail sales declined came to an end after the Federal Reserve reiterated its determination to stamp out inflation, crushing hopes of an imminent stop to ever-higher interest rates.
The S&P/ASX 200 Index is set to open with a cautious tone on Monday. Futures indicate the sharemarket will edge up 0.2 per cent.Wall Street and the Australian dollar stumbled on renewed recession fears. The Australian dollar, which is sensitive to risk aversion, dropped right back to US67¢, after a brief pop beyond US68¢. The VIX, which measures fear among investors, dropped 4.1 per cent.P/ASX 200 Index is set to open with a cautious tone on Monday.
US retail sales dropped 1 per cent last month, the Commerce Department showed, suggesting the economy is slowing but not fast enough to prevent the Fed from raising interest rates again in May. The investment bank expects further tightening by the central banks of the US, UK and Europe as fears of an imminent banking crisis fades.It believes the Reserve Bank of New Zealand will open the way in November to a wave of rate cuts everywhere with other countries to follow mid-2024.New Zealand, along with Canada, the Euro zone, the UK and Japan, will release inflation figures in the coming week.
Westpac is more hawkish, predicting a quarterly gain of 1.6 per cent, taking it to 7 per cent annually.This would still be well below the Reserve Bank of New Zealand’s 7.3 per cent inflation projections published in February.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joe Biden skipped press conferences as ‘unscripted questions’ are a little ‘too tough’Sky News host James Morrow says US President Joe Biden “skipped” the traditional bilateral press conference with the Irish Prime Minister as unscripted questions are now “too tough” for him to handle. “Biden skipped the traditional bilateral press conference with the Irish Prime Minister because unscripted questions are now a little too tough for the leader of the free world,” Mr Morrow said.
Read more »
Olympian rushed to hospital after suspected heart attack at Sydney Royal Easter ShowThe Australian equestrian community is rallying behind three-time Olympian Vicki Roycroft, who is in intensive care after a suspected heart attack. 7NEWS
Read more »
Kris Ridgway promised investors huge profits – and never paid a cent. This is his confessionThe disgraced financial adviser tells of how he extracted hundreds of thousands of dollars from dozens of investors all while he made fat – and illegal – commissions that allowed his family to live the high life. Then he turned on them, too.
Read more »
Fed up with knocking on politicians' doors, GP presses ahead with idea to improve remote health careMichael Livingston believes city-based decision-makers are failing remote GPs, leading to unsustainable practices and shortages across the country. But he believes he has a solution — a model he calls the 'rural generalist hub'.
Read more »
Kris Ridgway promised investors huge profits – and never paid a cent. This is his confessionThe disgraced financial adviser tells of how he extracted hundreds of thousands of dollars from dozens of investors all while he made fat – and illegal – commissions that allowed his family to live the high life. Then he turned on them, too.
Read more »
Elon Musk plans to challenge Open AI: FTElon Musk is hiring engineers and researchers, and is looking for investors to develop a competitor to Open AI, the Financial Times reported.
Read more »