The government has begun close monitoring of imports amid concerns over the rising current account deficit (CAD) that could undermine India’s macroeconomic balance. A senior government official said revenue authorities are being vigilant after the trade deficit hit a record $24.3 billion in May but ruled out any knee-jerk reaction that could impact the economic … Read more
Markets Equities had a solid finish to the week as the reversion lower in yields created a meaningful tailwind for growth stocks. And given the market body language of late, I suspect long-term investors were more than happy to ride a sea of green for a change. Indeed, it was an epic bear market bounce, … Read more
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Gold remains stuck in its months-long consolidation pattern, and analysts note that a lack of urgency in the … Read more
Here is what you need to know on Friday, June 24: Bond yields continue to look more accommodative for equities, and this equity rally continued yesterday with the sell-off in bond markets. This sell-off has taken place despite an increasingly hawkish Fed. Bond markets now feel a recession is odds on and are scaling back projections … Read more
Gold is on the back foot as the US dollar and risk step up a gear. The price is trading within a phase of consolidation between $1,810 and $1,875. At $1,822, the price of gold has taken a step backwards despite a soft dollar bias in the markets. XAU/USD is down some 0.8% and has fallen … Read more
Here is what you need to know on Thursday, June 23: Jerome Powell struck a surprisingly consistent tone on Wednesday when he appeared before the Senate Banking Committee. Well, unsurprising really, and consistent only in the fact that he changed his mind yet again. This man is the ultimate central bank flake. We have had … Read more
![Precious metal prices surge as recession fears mount – What’s next? [Video]](https://financial-daily-news.com/wp-content/uploads/2022/06/Precious-metal-prices-surge-as-recession-fears-mount-–-Whats.jpg "Precious metal prices surge as recession fears mount – What’s next? [Video] 14")
The most highly antipated FOMC Meeting of 2022 took place on Wednesday with the Fed announcing a “super-sized” rate hike. Declaring that it’s essential to tame inflation, the Federal Reserve raised interest rates by 75 basis points – the biggest increase since 1994 with Fed Chairman Jerome Powell signalled another jumbo sized hike next month. … Read more
The Federal Reserve raised Fed Funds by 75bp to a range of 1.50-1.75%, added 100bp to its median dot for 2023 (to 3.75%) and added a new phrase to its statement: it is “strongly committed” to returning inflation to its 2% target. Powell nodded to the more significant move of 75bp, motivated mainly by the … Read more
Markets Global trends in inflation and growth are increasingly a concern, and worryingly, a recessionary base case is where many investors appear to be heading. Top of mind factors the market is still digesting continue to be China’s commitment to zero-covid exacerbating supply chain issues and expectations turning more hawkish for Wednesday’s June FOMC meeting, … Read more
Markets US CPI for May was a nightmare for risk markets as the headline came in well above the consensus. Inflation is back on the highs; critically, it is across the board. Just education services were negative at -0.1%. The Fed’s policy is influencing financial conditions- the housing market is slowing in terms of mortgages … Read more