The U.S. Federal Reserve has pulled back its forecasts of tighter monetary actions as the global economy is slowing down much faster than anticipated. Economic shocks in China and the continuing saga of the Brexit vote have put pressure on other central banks to act to avoid the pull of deflation of their economies.
Friday’s incredibly impressive U.S. jobs report sent the U.S. dollar and equities higher, with S&P 500 and Nasdaq ending the week at new record highs. The 255,000 jobs added in July and 292,000 in June, made the markets look beyond the weak release in May of only 24,000 additional jobs.
With concerns still elevated over a potential decline in demand amid slowing global growth, most upside gains observed in oil could be capped. The terrible combination of oversupply woes and fears that demand may be waning could provide a foundation for bears to send WTI crude to unseen levels.
Global stock markets rose today, after the Bank of England cut interest rates and revived a bond-buying program to cushion the blow to the economy from Britain's June 23 vote to leave the European Union.
The Bank of England today became one of the only central banks to announce a stimulus package that appears to have, at least for now, exceeded market expectations and satisfy investors in a way that other central banks have failed this year. The triple whammy of a rate cut, an increase in bond buying – both government and now corporate...
Britain's economy is shrinking at its fastest rate since the financial crisis after last month's Brexit vote, making a Bank of England rate cut tomorrow a "foregone conclusion", a closely watched survey of businesses showed.
The U.S. Federal Reserve is expected to keep interest rates unchanged this week, deferring any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation.