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☆ Fed's Logan: can skip Sept rate hike, but 'there is work left to do'
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Federal Reserve Bank of Dallas President Lorie Logan walks to the opening dinner of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2023. My base case, though, is that there is work left to do," she said in remarks prepared for delivery to the Dallas Business Club at Southern Methodist University. "After the unacceptably rapid price increases of the past several years, I’m not yet convinced that we’ve extinguished excess inflation." "Another skip could be appropriate when we meet later this month," Logan said, referring to the Fed's upcoming Sept. 19-20 meeting. "In coming months, further evaluation of the data and outlook could confirm that we need to do more to extinguish inflation."

Persons: Lorie Logan, Ann Saphir, I’m, Logan, Diane Craft Organizations: Reserve Bank, Dallas, Kansas City, REUTERS, Dallas Federal Reserve Bank, U.S, Dallas Business Club, Southern Methodist University, Fed, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S

☆ Fed's Williams: An 'open question' whether Fed will need to hike again
▼ + stars: | 2023-09-07 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/file photo Acquire Licensing RightsNEW YORK, Sept 7 (Reuters) - Federal Reserve Bank of New York President John Williams said on Thursday that it's an "open question" whether monetary policy is restrictive enough to bring the economy back into balance. Williams declined to say whether the Fed should raise rates again. The Fed is to meet on Sept. 19-20. Reporting by Michael S. Derby; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: John Williams, Carlo Allegri, Williams, We’ve, ”, Michael S, Leslie Adler Organizations: Federal Reserve Bank of New, REUTERS, Federal Reserve Bank of New York, Fed, Bloomberg, Thomson Locations: Federal Reserve Bank of New York, New York, U.S

☆ With Indian rupee near record low, cenbank steps up NDF intervention
▼ + stars: | 2023-09-07 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

"The RBI intervened on NDF in the morning (before local over-the-counter, OTC, markets opened) and it did the same yesterday," the head of treasury at a private sector bank said. The banker said the RBI has been intervening in the NDF market via the BIS (Bank of International Settlements) and a large U.S.-based bank. At times, we see (Indian) public sector bank names," the head of proprietary trading at a foreign bank said. By the time local OTC markets opened on Thursday, the contract had retreated to 83.20 and the spot opened at 83.12. Apart from NDF, the central bank has been likely supplying dollars via public sector banks in the local OTC market, traders said.

Persons: Francis Mascarenhas, Nimesh Vora, Savio D'Souza Organizations: Bank of India, REUTERS, Rights, Reserve Bank of India, Reuters, U.S, BIS, Bank of International, New, Thomson Locations: Mumbai, India, Rights MUMBAI, U.S, Asia, New York

☆ Policymakers see darker days ahead in China as growth sputters
▼ + stars: | 2023-09-07 | by ( Divya Chowdhury | ) www.reuters.com time to read: +3 min

MUMBAI, Sept 6 (Reuters) - Policymakers expect persistently slower growth in China, perhaps even more sluggish than current consensus estimates, seeing its transition from an infrastructure- and investment-led economy to becoming consumption-driven as "difficult". "The inflation rate in China is around 0% - that means distortion of domestic demand and domestic supply," he said. This follows economic growth in 2022 recorded at one of its worst levels in nearly half a century. The Croatian central bank chief sees narrowing room for expansionary policies in China, adding, "We have to be careful." The RBNZ has already factored in "a pretty subdued period" for commodity prices within their projections, before they see them beginning to rise again, Hawkesby said.

Persons: Takahide Kiuchi, Goushi Kataoka, Boris Vujcic, Robert Holzmann, Christian Hawkesby, Hawkesby, Divya Chowdhury, Savio Shetty, Lisa Mattackal, Mehnaz Yasmin, Mark Heinrich Our Organizations: Former Bank of Japan, Reuters Global Markets, European Central Bank, ECB, Reserve Bank of New Zealand, Thomson Locations: MUMBAI, China, Europe, Croatian, Austrian, United States, Mumbai, Bengaluru

☆ The US just imported its smallest share of Chinese goods in 17 years — and the big winners are Mexico and Vietnam
▼ + stars: | 2023-09-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The US is importing fewer goods from China, as supply chains shift away from the East Asian country. Goods imported from China into the US made up 14.6% of all imports in the 12 months through July, per a Bloomberg analysis. This is the lowest share of Chinese goods imported to the US since 2006. Mexico's share of goods imported into the US hit a record high of 15% in the 12 months through July, while Vietnam's share was 3.7%, just off a record high reached in 2022, per Bloomberg. At almost 16% share of the total trade, Mexico remained the US' top trading partner in July.

Persons: Donald Trump, It's, that's, Luis Torres, Torres Organizations: East, . Goods, Bloomberg, Service, Goods, Census Department, Bureau, Federal Reserve Bank of Dallas, Minth, Binzhou, Piston Locations: China, Wall, Silicon, Washington, Beijing, Mexico, Vietnam, Canada, US

That has put pressure on risky EM currencies, echoing the dynamics observed last year when the Fed began raising rates. In the Sept. 1-6 poll, almost all beaten-down emerging market currencies were forecast to move little, or trade modestly higher against the dollar in a year, with some making small gains in three months. The underperformance of China has probably been the biggest story holding back EM currencies." Earlier this year, many analysts expected China's reopening to boost the yuan and other EM currencies, especially those exporting commodities to the world's second-largest economy, but this scenario did not unfold as anticipated. Through the end of this year, we believe most EM Asia currencies can weaken," said Nick Bennenbroek, international economist at Wells Fargo.

Persons: Chris Turner, Nick Bennenbroek, Hugo Pienaar, Devayani Sathyan, Veronica Khongwir, Jonathan Cable, Sharon Singleton Organizations: Treasury, greenback, Fed, ING, Reserve Bank of India, Korean, Bureau for Economic Research, Thomson Locations: BENGALURU, JOHANNESBURG, China, Asia, Wells Fargo, Russian, South Africa, Bengaluru

☆ Australia passes law to encourage competition for main market operator ASX
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A pedestrian is reflected in a window where an investor sits looking at a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia February 9, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies ASX Ltd FollowSYDNEY, Sept 6 (Reuters) - Australia passed a law on Wednesday to support competition in post-trade settlement and clearing for financial markets, challenging the near-monopoly status held by ASX Ltd (ASX.AX). After ASX cancelled a costly overhaul of its trading platform, the federal government said it was opening up the market to let other players in. Though Australian financial regulators have called for greater competition in clearing and settlement functions for years, a failed overhaul of ASX's all-in-one legacy software system renewed pressure from market participants to challenge its near-monopoly. In other major financial markets, clearing and settlement, or confirming the transfer of stock ownership and updating share registries, are managed by separate entities to the market operator.

Persons: David Gray, Jim Chalmers, Byron Kaye, Simon Cameron, Moore Organizations: Australian Securities Exchange, REUTERS, ASX Ltd, Senate, Reserve Bank of Australia, Australian Securities and Investments, Thomson Locations: Sydney, Australia

☆ Australian economy grows modestly in Q2, eases recession fears
▼ + stars: | 2023-09-06 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product (GDP) rose 0.4% in the second quarter, slightly beating forecasts of 0.3%. The world's 12th largest economy got a boost from net exports, with the return of students and tourists, and public investment. "For all its challenges, the Aussie economy remains remarkably resilient," said Harry Murphy Cruise, an economist at Moody's Analytics. Government consumption will also moderate from its elevated levels, and business investment will ease on the back of squeezed profits." Household consumption, which used to be the engine of growth, remained subdued with just a 0.1% gain in the quarter due to spending on essential goods and services.

Persons: Harry Murphy Cruise, Jim Chalmers, Chalmers, Sean Langcake, Stella Qiu, Jacqueline Wong, Lincoln Organizations: SYDNEY, Australian Bureau, Statistics, Moody's, Consumers, Reserve Bank of Australia, BIS Oxford, Thomson Locations: China

☆ Dollar firm on growth worries, fragile yen draws warning
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: +2 min

The yen was at 147.66 per dollar in early Asian hours, just shy of 147.8 per dollar, the lowest since Nov. 4 it touched overnight. The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to keep a wary eye on signs of an intervention. "We won't rule out any options if speculative moves persist," Japan's top currency diplomat Masato Kanda told reporters on Wednesday. Against a basket of currencies, the dollar rose 0.067% to 104.80, not far off the six-month high of 104.90 it touched overnight. The euro was unchanged at $1.0721 in Asian hours, having breached a three-month low of $1.0705 overnight.

Persons: Masato Kanda, Christopher Wong, Sterling, Christopher Waller Organizations: Ministry of Finance, Federal, U.S, Reserve Bank of Australia Locations: China, Kanda, Singapore, Europe, Britain

☆ Fed's Collins says policymakers can 'proceed cautiously' on future rate hikes
▼ + stars: | 2023-09-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Boston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking while saying she needs more evidence to convince her that inflation has been tamed. In remarks that aligned with sentiment from other key central bankers, Collins said the Fed may be "near or even at the peak" for interest rates. Both also supported the patient approach while cautioning that they view recent positive developments on inflation with caution and are ready to approve additional rate hikes if needed. Collins also spoke on the lags with which Fed policy is thought to work. Generally, economists believe it takes a year to a year and a half for rate hikes to seep through the economy.

Persons: Susan Collins, Collins, Jerome Powell, Christopher Waller, Waller, it's Organizations: Reserve Bank of Boston, Kansas City Fed, Boston Federal, Wednesday, CNBC, Market, Group Locations: Jackson, Wyoming, Boston

Money market funds, on the other hand — while also generally safe — are a bit riskier, experts said. Investors who prefer money market funds may opt for government money market funds, which carry slightly less risk, Elliott said. YieldMoney market funds tend to pay a slightly higher interest rate relative to high-yield savings accounts, Elliott said. TaxesInterest income for both high-yield savings and money funds is taxed as regular income, experts said. However, some money market funds may carry tax benefits, said Eric Bronnenkant, head of tax at Betterment.

Persons: Kamila Elliott, Elliott, Greg McBride, They've, McBride, Treasurys —, Eric Bronnenkant, Bronnenkant Organizations: Wealth Partners, CNBC, Bankrate, Federal Reserve, Deposit Insurance Corporation, Treasury, Lehman, Federal Reserve Bank of Boston, Investor Protection Corporation, Investors, Data, Federal, Consumers, U.S Locations: Atlanta

☆ Fed's Collins says now is time to be patient, deliberate with policy
▼ + stars: | 2023-09-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

Federal Reserve Bank of Boston President Susan Collins stands behind the Jackson Lake Lodge in Jackson Hole, where the Kansas City Fed holds its annual economic symposium, in Wyoming, U.S., August 24, 2023. Fed officials generally agree high levels of inflation are coming down, even as price pressures are still elevated. On the jobs front, Collins said demand for workers continues to outstrip supply and wage growth remains elevated. The current stance of monetary policy should “temper” demand and “I do not believe a significant slowdown is required,” Collins said. Reporting by Michael S. Derby; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Susan Collins, Ann Saphir, ” Collins, they’ll, what’s, Collins, “, Michael S, Chizu Organizations: Reserve Bank of Boston, Kansas City Fed, REUTERS, Federal Reserve Bank of Boston, Fed, Market Committee, Thomson Locations: Jackson, Wyoming, U.S

☆ India central-bank chief urges fintech firms to form a self-regulatory body
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference after a G20 Finance Ministers' and Central Bank governors' meeting at Gandhinagar, India, July 18, 2023. "I would like to use this opportunity to urge and encourage the fintechs to establish a self-regulatory organisation or SRO themselves. From the Reserve Bank, we are willing to engage with you," Das said while delivering the keynote address at the Global FinTech Fest 2023 (GFF). The other advantage is that all the aspects of regulation will not be burdened on the Reserve Bank." Reporting by Siddhi Nayak and Swati Bhat; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Shaktikanta Das, Amit Dave, Das, T, Rabi Sankar, Siddhi Nayak, Swati Bhat, Dhanya Ann Thoppil Organizations: Bank of India, Ministers, Central Bank governors, REUTERS, Rights, Financial, Reserve Bank of India, Reserve Bank, Global, Siddhi, Thomson Locations: Gandhinagar, India, Rights MUMBAI

☆ US dollar rises on global growth worries; Aussie down
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

The Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. As a result the dollar is catching a solid safe haven bid," said Joe Manimbo, senior market analyst at Convera in Washington. The euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shinjini Ganguli, Mike Harrison, William Maclean Organizations: REUTERS, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

☆ Stocks decline as yields, dollar rise amid global demand worries
▼ + stars: | 2023-09-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Also, U.S. benchmark Treasury yields jumped, while the Aussia dollar fell after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The U.S. dollar index was up 0.5% at 104.69. Wall Street stocks dipped with growth stocks as Treasury yields rose.

Persons: Toby Melville, Joe Manimbo, Christopher Waller, Brent, Caroline Valetkevitch, Saqib Iqbal Ahmed, Samuel Indyk, Ankur Banerjee, Stephen Coates, Kim Coghill, Christina Fincher, Shounak Dasgupta, Mike Harrison Organizations: London Stock Exchange Group, City of, REUTERS, U.S, Treasury, Reserve Bank of, The U.S, Wall, Dow Jones, Nasdaq, Federal Reserve, Fed, Labor, Thomson Locations: City, City of London, Britain, China, Europe, U.S, Reserve Bank of Australia, Washington, The, New York, London

☆ U.S. dollar lifted by worries over global growth; Aussie sinks
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 5 (Reuters) - The dollar rose on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency, while the Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro, was down 0.72% after hitting a near 3-month low against the dollar at $1.0719. The U.S. dollar also climbed against China's currency, and was last up 0.42% at 7.3081 against the yuan traded offshore. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shri Navaratnam, Alexander Smith, Shinjini Ganguli, Mike Harrison Organizations: REUTERS, Aussie, Reserve Bank of, Fed, Federal, U.S, Financial, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. REUTERS/Stringer/File Photo Acquire Licensing RightsSept 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Oil is back in the spotlight after Russia and Saudi Arabia on Tuesday extended output cuts. Oil prices have essentially been disinflationary all year, meaning the year-on-year price change has always been negative, sometimes dramatically so. With the dollar, bond yields and oil prices all marching higher, it is little wonder investors are drawing in their horns.

Persons: Stringer, Jamie McGeever, Brent, Japan's Hajime Takata, Josie Kao Organizations: REUTERS, Reserve Bank of Australia, U.S ., Asia, Bank, Japan's, Thomson, Reuters Locations: Heilongjiang province, China, Asia, Taiwan, Russia, Saudi Arabia, Japan, Australia

☆ This income fund has a yield of more than 5%, and is cheap compared to its peers
▼ + stars: | 2023-09-05 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Weitz Core Plus Income Fund (WCPNX) , which Carney co-manages with Nolan Anderson, received five stars and a bronze rating from Morningstar. Aggregate Bond Index]," Carney said. Enter, asset-backed securities. Asset-backed securities (ABS) follow in second place, making up 27.6% of the portfolio. As a result, participating in the asset-backed securities space requires a granular level of due diligence.

Persons: Tom Carney, Weitz, Carney, Nolan Anderson, Morningstar, WCPNX, There's, that's, Fannie Mae, Freddie Mac Organizations: Morningstar, Bloomberg Barclays U.S, Universal Bond, SEC, Bloomberg U.S, Aggregate Bond, Federal Reserve Bank of New, BBB, U.S, Fed Locations: Federal Reserve Bank of New York

☆ Americans Are Losing Faith in the Value of College. Whose Fault Is That?
▼ + stars: | 2023-09-05 | by ( Paul Tough | ) www.nytimes.com time to read: +2 min

Economists have a term for the gap that exists between the incomes of college graduates and high school graduates: the college wage premium. When employers want more college graduates, the premium goes up; when there is a surplus of college grads, the premium goes down. In theory, today’s sky-high college wage premium should mean a surge of young people onto college campuses, not the opposite. But as a measure of the true value of higher education, the college wage premium has one important limitation. Unlike the college wage premium, the college wealth premium looks at all your assets and all your debts: what you’ve got in the bank, whether you own a house, your student-loan balance.

Persons: Bill, Louis, you’ve, Louis — Lowell Ricketts, William Emmons, Ana Hernández Kent — Organizations: Federal Reserve Bank of St Locations: St

☆ Morning Bid: Global business splutters, dollar surges
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +4 min

But the U.S. jobs picture underscores the "soft-landing" consensus - something Tuesday's updates on global business surveys from last month suggest may not be the case elsewhere. Even though messy workouts of China's ongoing property bust were some relief - as real estate giant Country Garden made some last minute dollar bond payments - the funk in the wider economy clearly persists. That saw the euro fall back against the dollar to levels not seen since mid-June. But that provided little solace to sterling , which was also pummelled by the dollar to its lowest since June. The sour business polls took some heat out of the recent oil price rebound , but did little to calm the long end of the bond market.

Persons: Dado Ruvic, Mike Dolan, disinflation, Philip Lowe, Glazer, Luis de Guindos, Isabel Schnabel, Hugh Lawson Organizations: REUTERS, U.S, Reserve Bank of Australia, Stock, Wall, English football, Manchester United, Sunday, Central Bank, ECB, Treasury, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Europe, China

☆ U.S. dollar rises on global growth worries; Aussie down
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose to a near six-month high against a basket of currencies on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency. The Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Shane Oliver, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin Organizations: AMP, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie Locations: Sydney, Australia, China, Reserve Bank of Australia, Europe, Washington, U.S, Britain

☆ Dollar eases as risk appetite improves on China's measures
▼ + stars: | 2023-09-04 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The China-sensitive euro was up 0.25% at $1.0799, just off a 10-week low touched last week against the dollar. The Australian dollar and the New Zealand dollar also got a lift from those measures. "The U.S. dollar is softening against most other G10 currencies today as risk appetite improves on the back of China support measures," said Jane Foley, head of FX strategy at Rabobank. The Canadian dollar slipped 0.07% to 1.359 per dollar ahead of the Bank of Canada's policy meeting this week, with the central bank expected to hold rates.

Persons: Dado Ruvic, Jane Foley, Christine Lagarde, Isabel Schnabel, Foley, Jeremy Hunt, Sterling, Joice Alves, Ankur Banerjee, Sharon Singleton, Christina Fincher Organizations: REUTERS, U.S, Australian, New Zealand, Rabobank, European Central Bank, ECB, FOCUS, Reserve Bank of Australia, Canadian, Bank of, Thomson Locations: China, Beijing, FOCUS British, U.S, London, Singapore

☆ Asia markets set for mixed open; Australia and China data closely watched this week
▼ + stars: | 2023-09-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Loop Images | Universal Images Group | Getty ImagesAsia-Pacific markets are set for a mixed start to the week as investors look to key data from Australia and China later in the week. The Reserve Bank of Australia will release its rate decision on Tuesday, while China is expected to release its trade balance for August on Thursday and its inflation rate next weekend. In Australia, futures for the S&P/ASX 200 point to a slightly lower open, at 7,274 compared with the last close of 7,278.3. Futures for Hong Kong's Hang Seng index stood at 18,304, pointing to a weaker open compared with the HSI's close of 18,382.06 last Thursday. Hong Kong's markets were closed Friday as the city braced for super typhoon Saola, which made landfall over the weekend.

Organizations: Getty, Reserve Bank of Australia, Nikkei Locations: Melbourne, Australia, Asia, Pacific, China, Hong, Chicago, Osaka

Raphael Bostic, president of the Federal Reserve Bank of Atlanta and a member of the Fed’s interest rate policy committee, doesn't think another hike is needed. Our rate today is higher than the rate of inflation. I’m going to remain diligent and pay attention and make sure that inflation continues on the trajectory that it’s been on. A. We’re going to have to keep our rate higher for longer than historically happens, because we need to make sure that inflation stays at 2%. We’re just going to have to stay restrictive for quite a while, until we are sure, sure, sure, sure, sure, sure that inflation is not going to bounce up far away from our target.

Persons: Raphael Bostic, doesn't, Bostic, we’re, I’ve, I’m, we’ve, We’re Organizations: WASHINGTON, Federal, Federal Reserve Bank of Atlanta, Associated Press, Fed

☆ Dollar steady as traders bet Fed done with rates
▼ + stars: | 2023-09-04 | by ( ) www.cnbc.com time to read: +3 min

Data on Friday showed U.S. job growth picked up in August, but the unemployment rate jumped to 3.8%, while wage gains moderated. Markets are pricing in a 93% chance of the Fed holding steady on rates this month, and over 60% probability of no more hikes this year, CME FedWatch tool showed. The Japanese yen strengthened 0.03% to 146.18 per dollar, after dropping 0.5% on Friday following the labor data. Canada's central bank is due to meet this week and is expected to hold rates. The Canadian dollar was flat at 1.36 per dollar.

Persons: Ray Attrill, bitcoin Organizations: Federal Reserve, National Australia Bank ., Citi, Ministry of Finance, Reserve Bank of Australia, Canadian Locations: U.S, Japan, Canada's

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