As economists forecast, the S&P Global Services PMI is expected to increase slightly from 54.8 to 54.9 in April. This slight uptick in the PMI could potentially shift investor expectations regarding future Fed interest rate cuts in 2024. However, it is crucial for investors to delve deeper into the sub-components of the PMI, such as
Forecasts
As we approach April 19, 2024, investors are eagerly anticipating the quarterly earnings reports of major companies such as Procter & Gamble (PG), American Express (AXP), and Schlumberger (SLB). Procter & Gamble is expected to see a modest earnings increase of 3.65%, showing steady growth. American Express, on the other hand, projects a substantial 23.75%
Following the Bank of Japan’s decision to exit negative interest rates, the USD/JPY exchange rate experienced a significant decline to the 154 handle. This move was largely influenced by the forward guidance provided by the BoJ, which signaled the implementation of accommodative policy measures. While this decision may have bolstered buyer demand for the Japanese
The CME FedWatch Tool has reported a decrease in the probability of a June Fed rate cut from 20.7% to 18.8% on Tuesday, April 16. This shift indicates a change in market sentiment towards the US Federal Reserve’s monetary policy. Additionally, the likelihood of a September rate cut has also reduced as the chances of
The forecasts for industrial production and retail sales in China are indicating weaker trends. Economists are expecting retail sales to increase by 4.5% year-on-year in March, following a 5.5% rise in February. Similarly, industrial production is predicted to grow by 5.4% year-on-year in March, after a 7.0% increase in February. These numbers hold significant importance
Investors should pay close attention to the Bank of Japan’s commentary as a response to the escalating tensions in the Middle East. The central bank’s reactions to the rising threat of a prolonged conflict in the region could have a significant impact on the financial markets. Any statements or actions taken by the Bank of
The inflation figures released on Friday will play a vital role in influencing the Bank of Japan’s rate path. It is anticipated that service sector-driven inflationary pressures could potentially prompt discussions about the timing of an interest rate hike. Economists predict that the annual inflation rate will hold steady at 2.8% in March, while core
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The U.S. stock futures market saw a slight increase as investors eagerly awaited earnings reports from major banks. Dow futures experienced a rise of 73 points, while S&P 500 and Nasdaq futures also showed modest gains. The surge in tech stocks, particularly in the Nasdaq, closing at a record high with a 1.68% jump, was
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The prospect of a higher-for-longer rate path could have significant implications for consumers. An increase in interest rates would result in higher borrowing costs, ultimately affecting disposable income. This, in turn, could potentially dampen consumer spending and curb demand-driven inflation. The overall outlook on the economy would be influenced by these downward trends in disposable
One of the key points emphasized in the information provided is the importance of performing due diligence before making any financial decision. It is crucial for individuals to conduct their own research, exercise discretion, and seek advice from competent advisors. This ensures that one fully understands the risks involved in any investment and can make