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☆ Gold eases as dollar firms; focus on Fed cues, U.S. data
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.2% to $2,639.45 per ounce, as of 0303 GMT. U.S. gold futures lost 0.3% to $2,658.70. The dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark U.S. Treasury 10-year yield topped 4% for the first time in more than two months. Investors are focused on the minutes of the Fed's latest policy meeting, due on Wednesday, followed by the U.S. Consumer Price Index on Thursday and the Producer Price Index data on Friday. "Looking ahead, if we see any upside surprises in the U.S. CPI numbers this week, this could boost further boost the dollar and pressure gold," Waterer added.

Persons: Gold, Tim Waterer, Israel, Bullion, Waterer, Louis, Alberto Musalem Organizations: Treasury, KCM Trade, U.S . Consumer, U.S, CPI, Louis Fed Locations: Singapore, Haifa, Lebanon, Gaza, St

☆ Dollar holds on to 7-week highs as traders consider U.S. rates outlook
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +3 min

The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year. That has kept the dollar on the front foot and surging to a multi-week high against the euro, sterling and the yen. The New Zealand dollar was 0.3% higher at $0.6144 ahead of the monetary policy decision on Wednesday. A majority of economists in a Reuters poll last week said the Reserve Bank of New Zealand will cut interest rate by 50 basis points.

Persons: Kieran Williams, Louis, Alberto Musalem, Shigeru Ishiba Organizations: Federal Reserve, Asia FX, InTouch, Reserve Bank of St, Treasury, Bank of, New Zealand, Reserve Bank of New Locations: Middle East, Asia, China, Bank of Japan, Reserve Bank of New Zealand

☆ 10-year Treasury yield slightly higher following bumper jobs report
▼ + stars: | 2024-10-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were slightly higher early Monday as investors assessed future moves from the Federal Reserve following Friday's bumper jobs report. The 10-year Treasury yield was up by under a basis point at 3.984%, while the yield on the 2-year Treasury was over 3 basis points higher at 3.968%. One basis point equals 0.01%. Treasury yields jumped on Friday as investors digested a better-than-expected September jobs report. The CME Group's FedWatch tool indicates that traders are now pricing in an 91% chance of a quarter percentage point rate cut at the central bank's next meeting in November.

Persons: Nonfarm payrolls, Dow Jones, Neel Kashkari, Raphael Bostic, Michelle Bowman, Alberto Musalem Organizations: Treasury, Federal, Investors Locations: Israel

☆ America’s top central banker says the job market is back to normal. Is that true?
▼ + stars: | 2024-06-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? Why is the job market slower now? The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.

Persons: Washington CNN —, “, Jerome Powell, Powell, it’s, Bell, Julia Pollak, they’re, They’re, Olesya Dmitracova, Emmanuel Macron, Read, Patrick Harker, Lisa Cook, Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem, Goolsbee Organizations: CNN Business, Bell, Washington CNN, Fed, Labor, EU, National, New York Fed, Manufacturing Index, Reserve Bank of Australia, US Commerce Department, Federal Reserve, National Association of Home Builders, Accenture, Kroger, Darden, Bank of England, US Labor Department, Philadelphia Fed, Richmond Fed, Global, National Association of Realtors Locations: Washington, France, Wells Fargo

☆ St. Louis Fed names former Tudor executive Alberto Musalem as new president
▼ + stars: | 2024-01-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Economist Alberto Musalem was named the next president and CEO of the Federal Reserve Bank of St. Louis on Thursday. The St. Louis Fed representative is an alternate member of the rate-setting Federal Open Market Committee and will vote in 2025. St. Louis Fed First Vice President Kathy O'Neill has been holding the position in the interim. "Alberto will be an outstanding president and CEO of the St. Louis Fed," said St. Louis Fed director Carolyn Chism Hardy, president and CEO of Chism Hardy Investments and deputy chair of the bank's search committee. "I am deeply honored to serve as the next president of the St. Louis Fed and grateful for the opportunity to promote a strong, resilient and inclusive economy," Musalem said.

Persons: Alberto Musalem, Louis, Musalem, James Bullard, Kathy O'Neill, Alberto, Louis Fed, Carolyn Chism Hardy, Chism, Hardy, Paul Tudor Jones Organizations: Federal Reserve Bank of St, Purdue University, Louis Fed, Market, Investments, Evince Asset Management, New York Fed, Tudor Investment Corp, Eighth, CNBC PRO Locations: St

[1/2] A man watches television while cooling himself with an electric ventilator as temperatures rise during an unusual heat wave, in Monterrey, Mexico June 15, 2023. On Wednesday, daily demand was projected to peak even higher at 51,782 megawatts per hour, according to Cenace data. Meanwhile, neighboring Texas urged power conservation after the grid operator on Tuesday evening issued a warning for "projected reserve capacity shortage". In Michoacan state, one town had been without electricity for several days, after an energy transmitter exploded. The heat wave in Mexico is forecast to continue for several more days.

Persons: Daniel Becerril, Cenace, Jorge Musalem, Andres Manuel Lopez Obrador, Isabel Woodford, Adriana Barrera, Lisa Shumaker Organizations: REUTERS, MEXICO CITY, National Center for Energy Control, Twitter, Local, CFE, Thomson Locations: Monterrey, Mexico, MEXICO, Texas, Michoacan

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