Dollar hit as year-end U.S. rate hike bets cool after weak data
15 July, 2017, 05:38 | Author: Leticia Walters
Lyngen said fed funds futures were reflecting odds for another rate hike this year of just 46 percent, down from 52 percent before the data, according to Lyngen. Other data on Friday showed industrial production picked up in June, driven by a surge in oil and gas drilling.
Joel Naroff of Naroff Economic Advisors told clients the economic picture facing the Fed was clearly not what the central bank hoped for.
The labour department reports consumer price inflation for June at 8.30am in Washington on Friday, and the figures could either round out four months of sub-par progress or suggest that the slowdown is - as the Fed has been saying - transitory. Senior officials at the central bank had believed the slowdown in inflation was temporary, but are now reconsidering their stance. The annual core inflation rate was 1.7 per cent, the same as May but six-tenths slower than January. The year-on-year CPI has been retreating since February, when it hit 2.7 per cent, which was the biggest increase in five years. Excluding food and energy, prices rose 0.1%.
As a reminder, the FOMC has a target of 2.0% to 2.5% for annualized inflation. Prices for USA government bonds rose and stocks on Wall Street edged higher.
However, "The current data provide few reassurances for the Federal Reserve" about the growth outlook, economist Diane Swonk said. That was below the 0.1% gain expected by economists. The Bank of England's trade-weighted index stood at 77.1, nearly 5 percent above seven-year lows hit last October, but 2.5 percent off highs hit in May when financial investors were banking on an electoral landslide for the ruling Conservatives. But rental costs rose, with owners' equivalent rent of primary residence increasing 0.3 per cent after advancing 0.2 per cent in May. Retail sales of gasoline were down 1.3%, based largely on lower prices. Food and beverage stores were down 0.4%, department stores were down 0.7% and restaurant sales were down 0.6%.
Overall retail sales fell 0.2 per cent for the month to US$473.5 billion, a surprise to analysts who had forecast an increase of 0.1 per cent. "Our baseline is they still do the balance sheet in September, and they hike rates in December".
Anglo American, with considerable South Africa exposure, also benefited from the country suspending implementation of a new mining law which analysts had said could negatively impact firms.
But the view that age determines when boom turns to bust has come under question in an era of abnormally low interest rates and at a time when central bankers are struggling to combat anaemic readings of output, productivity and wage growth. He sees support at 95. It has declined from a high of 98.5 in January.
The U.S. data bolstered expectations that the U.S. Federal Reserve would likely to move slowly to continue raising interest rates in the absence of inflation signs.
Still, growth in the second quarter likely got a lift from the industrial sector of the economy. June marked the third consecutive 0.1% gain on the core rate.
The ceremony began with Iger kicking things off by remarking, "This is the largest gathering of Disney fans in the world". Fisher, daughter of actor Debbie Reynolds and singer Eddie Fisher, died from sleep apnoea and other causes .
The firm has "Buy" rating given on Friday, August 14 by Argus Research. (NASDAQ:DLTR) on Friday, June 30 with "Buy" rating. The Masters Capital Management Llc holds 953,000 shares with $65.87M value, down from 1.00 million last quarter.
In this innings, he joined Morris to carry South Africa past 300 after they had lost four wickets in a span of 56 runs. On the other hand, South Africa committed basic mistakes and fell flat in the series opener.
Cashman said that Mitchell, along with Luis Cessa and Chance Adams, would be considered for more permanent spots in the rotation. The 28-year-old will become a free agent after this season, meaning his stint in pinstripes is likely over.
West Nile virus was found in a bird in Santa Cruz County Wednesday, the first find this year, county officials said today. There are no reports of people being infected, but the Health Unit says the virus is definitely in Simcoe County.
Sprint , Berkshire Hathaway and Liberty Media did not immediately respond to Reuters requests for comment. The Malone company is the biggest shareholder in No. 2 USA cable company Charter Communications Inc.
The first two seasons of the series followed the rise and fall of Colombian drug kingpin Pablo Escobar , played by Wagner Moura. This time around, all rules have changed for the narcos and their opponents - a fact many won't realize until it's too late.
The site remained essentially inaccessible for days after the fact, prompting some users to speculate about an exit scheme. Cazes was arrested at the Private House housing estate on Phutthamonthon Sai 3 Road in Thawi Watthana district on July 5.
Federer is bidding to join Bjorn Borg (1976) as the only men in the Open Era to win Wimbledon unblemished. He will face Marin Cilic in the final on Sunday in what will be the Croat's first ever Wimbledon final .
Grassley may subpoena former Trump campaign chairman
Donald Trump Jr . sits down to a round-table discussion at the Talk Media News radio row in Manchester, N.H., February 8, 2016. In March, the Trump administration abruptly asked for the resignation of all 46 US attorneys across the country.
Nebraska CB Chris Jones named to watch list
Thorpe excelled as a running back, passer and kicker on the offensive side of the ball, but also stood out as a defensive back. Who are some of the top names on this list this season? The award is named in honor of multi-sport legend Jim Thorpe.