Today’s Trading Prospects
U.S. July FHFA home price index, S&P 20 largest city home price index
U.S. durable goods orders, new home sales data in August
FOMC Voting Committee Statements: Cleveland Fed President Loretta Mester, St. Louis Fed President James Bullard
iPhone 14 Pro sales continue to be strong, Apple bucks the trend and closes in red
JPMorgan analyst Samik Chatterjee released a report stating that two weeks after the launch of Apple’s iPhone 14 series, demand for the high-end iPhone 14 Pro model is still strong, which is a good sign for Apple’s net profit. This news pushed Apple on Monday (26th). ) bucked the trend and closed in the red.Read the full article…
Fed Mester: Restrictive rates need to last longer
Cleveland Federal Reserve Bank President Loretta Mester said on Monday (26th) that in order to beat stubborn inflation, further increases are needed interest rates, and in order to avoid uncontrollable interest rate hike expectations, restrictive interest rates need to continue for a longer period of time. In the process, unemployment will rise, but not by more than 5%.Read the full article…
Bank of England: Will ‘without hesitation’ to change rates if necessary
GBPThe Bank of England said in a statement on Monday that it was “closely monitoring” developments in financial markets and would change interest rates “without hesitation” if necessary, while British government bonds tumbled on the new fiscal plan. Mohamed El-Erian, chief economic adviser of the United Group, urged the Bank of England to raise interest rates by 4 yards in an emergency to save the market from the crisis.Read the full article…
Boston Fed chief supports rate hike, inflation cut, sees soft landing still possible
Boston Fed President Susan Collins, who voted this year on the Federal Open Market Committee (FOMC) this year, made her first speech since taking office in July on Monday (26), arguing that monetary policy needs to be tightened further to curb high Inflation has stagnated, and it has warned that unemployment could rise in the process, but a recession is not inevitable.Read the full article…