Gold Heads for Weekly Loss as Energy Costs and Rate-Hike Bets Weigh
Gold is set for a weekly drop of more than 3.5% on inflation worries. New York futures slipped to $4,026 a troy ounce, Market Talk reported.
2 sources · Market Talk
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Rubio says new US work visa rules are not aimed at India
US Secretary of State Marco Rubio said changes to work visa rules apply to every country and are meant to protect American workers, not target India.
1 source · Moody's
Bitcoin Recovers Slightly but Stays Range-Bound Amid Tech Selloff
Market Talk reports bitcoin edged up in Asia as tech stocks fell, with ETF inflows cushioning losses ahead of the Fed decision and Alphabet and Amazon earnings.
1 source · Market Talk
USDA Picks Eight Fertilizer Manufacturing Projects for Federal Funding
USDA picked eight fertilizer manufacturing projects for FIELDS funding, with total proposed investment above $1.34 billion, per Reuters.
1 source · Reuters
DWS: debate on further Fed tightening is far from over
DWS chief US economist Christian Scherrmann says the Fed debate on more tightening continues as US inflation stalls rather than falls.
1 source · Market Talk
German tax revenue rises 0.4% in September
Germany's finance ministry says federal and state tax revenue grew 0.4% year-on-year in September. January-September revenue is up 0.8%.
1 source · Reuters
Economist Sahm urges Fed to raise rates as insurance against inflation
Former Fed economist Claudia Sahm says rate hikes would insure against persistent inflation, arguing markets underprice the odds of a move.
1 source · Seeking Alpha
Asian shares rise on strong earnings as Brent nears $110
Asian equities advanced after Wall Street gained on upbeat earnings, while oil hovered near a five-month peak and traders weighed Fed and BoJ moves.
2 sources · Reuters
BoE's Greene says inflation risks exceed forecasts and still backs a rate rise
Bank of England policymaker Megan Greene sees bigger inflation risks from the Iran war energy shock and still favours higher rates, Reuters reports.
1 source · Reuters
US Pending Home Sales Index Drops 7.3% in September on Higher Mortgage Rates
Signed US home contracts fell more than expected in September as fast-rising mortgage rates pushed potential buyers out of the market, NAR reported.
2 sources · Dow Jones Newswires
US EFFR trading volume fell to $110 billion on October 19
According to TradingView, citing RTT News/dpa-AFX, volume in the US effective fed funds rate market was $110 billion on October 19, versus $115 billion before.
2 sources · TradingView
US stocks mostly higher as AI debt fears ease; dollar gains on Fed bets
Dow Jones wrap: US stocks mostly rose as the Nasdaq rebounded and AI debt worries eased, while Treasury yields and the dollar climbed on Fed rate expectations.
1 source · Dow Jones Newswires
Economists expect mixed US data this week, from housing starts to PMI and sentiment
Median WSJ survey forecasts for the remaining US releases this week, covering housing starts, building permits, PMI, jobless claims and sentiment.
1 source · Data Week Ahead Update
US Treasury Yields Edge Higher Ahead of Fed Decision
Treasury yields rose as investors weighed the Fed's approach before its end-of-month meeting. The CME FedWatch tool shows a 17% chance of a rate hike.
2 sources · Market Talk
PBOC considers switching policy benchmark to overnight repo rate
China's central bank is considering using the overnight repo rate as its main policy benchmark and adding liquidity support for non-bank financial firms.
1 source · Reuters
Fed may raise rates again even if it holds in October, analysts say
US inflation accelerated and analysts now expect a December rate hike. CME FedWatch puts an 83% chance on an unchanged rate at the October meeting.
1 source · Barron's
Flavio Bolsonaro pledges budget adjustment without cutting social spending
Brazil's opposition candidate says he would curb rising public debt while keeping social commitments. Source: TradingView.
1 source · Reuters
US air traffic controllers reach 2.8% pay rise deal with FAA
The FAA and a union agreed a 2.8% pay rise for US air traffic controllers, backdated to January 1, tied to workforce reforms, according to TradingView.
2 sources · Reuters
Nearly 12,000 Californians bought EVs under state rebate program
California says nearly 12,000 residents used rebates from a $270 million EV program. Overall EV sales have fallen as federal incentives were removed.
2 sources · Reuters
US Industrial Output Rises More Than Expected in September
US industrial production grew 0.7% in September versus a 0.4% forecast, and capacity utilization reached 76.9%, according to the Federal Reserve.
2 sources · Seeking Alpha, TradingView