XDY trading trend on September 25, 2023
Chicago Fed President Austan Goolsbee and ECB President Christine Lagarde spoke about interest rates and inflation, reflecting investor sentiment. Goolsbee said inflation remains above the Fed's 2% target and remains a bigger risk than the central bank's tightening policy, which is slowing the economy. Meanwhile, Lagarde said the ECB's record high deposit interest rates could help cut inflation to 2%.
The story of September was a spike in Treasury yields, and the impact has rippled through the currency markets, said Adam Button, chief currency analyst at ForexLive in Toronto. The market had expected economic data to worsen, but that was not the case.
Minneapolis Fed President Neel Kashkari said the US economy was more likely to have a "soft landing," but he also said there was a 40% chance the Fed would need to raise interest rates "significantly" to cope with the crisis. inflationary.
Sales of new single-family homes in the United States fell more than expected in August as popular 30-year fixed mortgage rates rose more than 7%, new data showed. However, annual U.S. home price growth accelerated for the second consecutive month recently. US consumer confidence fell for the second straight month amid concerns about rising prices and the political environment.
The story of September was a spike in Treasury yields, and the impact has rippled through the currency markets, said Adam Button, chief currency analyst at ForexLive in Toronto. The market had expected economic data to worsen, but that was not the case.
Minneapolis Fed President Neel Kashkari said the US economy was more likely to have a "soft landing," but he also said there was a 40% chance the Fed would need to raise interest rates "significantly" to cope with the crisis. inflationary.
Sales of new single-family homes in the United States fell more than expected in August as popular 30-year fixed mortgage rates rose more than 7%, new data showed. However, annual U.S. home price growth accelerated for the second consecutive month recently. US consumer confidence fell for the second straight month amid concerns about rising prices and the political environment.
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