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US 10-year yield hits a 19-year high as Fed Governor Barr backs hikes
Federal Reserve (Fed) Governor Michael Barr made on Wednesday the case for more rate increases, saying the risks to getting inflation back to 2% have grown while the risks to jobs have eased.
Dow Jones Industrial Average keeps sliding as yields climb on a strong PMI
The strongest S&P Global flash Purchasing Managers Index (PMI) readings since 2021 have done nothing for the Dow Jones Industrial Average. Manufacturing came in at 57 against a 53.5 forecast and services at 58.7 against 56.
New Zealand Dollar tumbles as strong US PMI data lifts USD
NZD/USD tumbles on Wednesday, losing 1% to trade around 0.5670 at the time of writing. The pair faces strong selling pressure as the US Dollar (USD) benefits from stronger-than-expected United States (US) activity data, reinforcing expectations of further interest-rate hikes.
British Pound cracks as US growth burst boosts USD
The Pound Sterling (GBP) tanks over 0.70% against the Greenback on Wednesday as US economic data showed business activity is picking up, while fears of a US diesel export ban pushed crude prices higher. The GBP/USD pair trades at 1.3253, its lowest level since July 1.
Russia Industrial Output below forecasts (0.5%) in August: Actual (-0.6%)
Russia Industrial Output below forecasts (0.5%) in August: Actual (-0.6%)
WTI snaps five-day losing streak as US-Iran talks fall short of breakthrough
West Texas Intermediate (WTI) Oil rebounds on Wednesday after five straight days of losses as traders assess the latest Middle East developments and US inventory data.
Iran reviews US response to proposal aimed at ending hostilities – Reuters
Iran is reviewing the United States’ (US) response to its proposal aimed at ending hostilities, a senior Iranian official told Reuters on Wednesday, signaling that diplomatic efforts between Tehran and Washington remain underway.
Euro slides as strong US PMI data lifts Fed rate hike bets
EUR/USD extends its intraday decline on Wednesday as stronger-than-expected US business activity data reinforces expectations of another Federal Reserve (Fed) rate hike and lifts the US Dollar (USD). At the time of writing, the pair trades around 1.1401, near levels last seen in late July.
Brazil: Growth outlook and inflation risks – Societe Generale
Societe Generale’s Dev Ashish reviews Brazil’s updated macro-fiscal projections from the Finance Ministry, highlighting lower GDP forecasts for 2026-27, persistent household debt-service burdens and a less supportive external backdrop.
Fed's Barr: Further rate hikes needed for timely return to 2% inflation
Federal Reserve (Fed) Governor Michael Barr said on Wednesday that the central bank will likely need to raise interest rates further to ensure a timely return to the 2% inflation target.
Australian Dollar tumbles amid stronger US PMIs, softer Australian data
AUD/USD tumbles 1.07% on Wednesday and trades around 0.7040 at the time of writing, pressured by a combination of a stronger US Dollar (USD) and disappointing activity data from Australia.
WTI: Headline risk rises as positioning stays elevated - TD Securities
TD Securities’ Ryan McKay and Bart Melek note West Texas Intermediate (WTI) Crude prices are holding relatively strong despite intense headline risk and elevated speculative positions, with CTAs (Commodity Trading Advisors) adding back length rather than cutting exposure.
United States EIA Crude Oil Stocks Change above forecasts (-0.7M) in September 18: Actual (2.969M)
United States EIA Crude Oil Stocks Change above forecasts (-0.7M) in September 18: Actual (2.969M)