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US Treasury Pick Bessent ‘Is a Fiscal Hawk’: Wall Street Reacts
1732324526 from BLOOMBERG
Hedge fund chief Scott Bessent’s Friday nomination to become the US Treasury Secretary is offering bond investors a glimpse into the incoming administration’s sweeping economic agenda after an extended search that included multiple prominent contenders.
Putin’s pipeline: How the Kremlin outmaneuvered Western oil companies to wrest control of vast flows of Kazakhstan’s crude
1732323569 from C ASIA
… Soviet Union, Kazakhstan is the largest country in Central Asia, and … disparities between foreign and Kazakh oil workers have fostered … can’t go into Central Asia without effectively paying bribes … think, but also what Central Asia thinks.” U.S. officials …
Chair Powell Likely To See Out His Term: Reiman, Rodriguez
1732305280 from BLOOMBERG
Nuveen Asset Management Head of Fixed Income Strategy Tony Rodriguez and UBS Global Wealth Management Head of Fixed Income Kurt Reiman both think the Trump administration will keep Fed Chair Powell through the end of his term in 2026. (Source: Bloomberg)
Economy's Strength Prompts Fed to Rethink Rate Cut Plans
1732290450 from GOLDSILVER
Recent economic data and proposed policies from the incoming Trump administration have prompted the Federal Reserve to adopt a more conservative stance on interest rate cuts. This change in outlook could lead to fewer reductions in 2025 than previously anticipated, potentially affecting mortgage rates, auto loans, and small business financing. The Fed now emphasizes a measured approach to rate decisions, citing the economy's current resilience.
ECB Can Weigh Bigger Cut If Risks Materialize: Centeno
1732283555 from BLOOMBERG
European Central Bank Governing Council member and Bank of Portugal Governor Mario Centeno says he prefers to “move gradually” on interest rates, but the ECB “can certainly discuss and be open to different steps” if downside risks to growth develop. (Source: Bloomberg)
Dollar Cleanest Way to Play Trump Tariff, Tax Story: Mizuho’s Konstam
1732276356 from BLOOMBERG
Dominic Konstam, head of macro strategy at Mizuho, says the impact of President-elect Donald Trump’s tariff policy on the US dollar “could be substantial.” He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
US Dollar surges to two-year high as Eurozone PMIs disappoint
1732269682 from FXSTREET
The US Dollar (USD) jumps on Friday to its highest level in two years, with the DXY US Dollar Index popping above 108.00, as Purchasing Managers Index (PMI) data for the Eurozone signaled that the region’s economy fell back into contraction in November.
EUR/USD sinks to near two-year lows as preliminary Eurozone PMI contracts
1732268700 from FXSTREET
EUR/USD sinks to near two-year lows below 1.0400 in European trading hours on Friday after the release of the preliminary HCOB Eurozone Purchasing Managers Index (PMI) report for November, which showed that the overall business activity surprisingly contracted.
EUR/JPY bounces off multi-month low, down a little around 161.70 ahead of Eurozone PMIs
1732250239 from FXSTREET
The EUR/JPY cross attracts some follow-through selling for the second straight day and drops to its lowest level since October 4 during the Asian session on Friday, albeit it managed to rebound a few pips thereafter.
Fed's Goolsbee: It may make sense to slow pace of Fed rate cuts
1732210740 from FXSTREET
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee hit newswires on Thursday, commenting on the future pace of Fed rate cuts in the face of inflation that is ostensibly on its way to the Fed's 2% target.
Fed’s Goolsbee Sees Rates a ‘Fair Bit Lower’ Over Next Year
1732209900 from BLOOMBERG
Federal Reserve Bank of Chicago President Austan Goolsbee said he sees interest rates moving “a fair bit lower,” while expressing confidence inflation is easing toward the central bank’s objective alongside a solid labor market.
ECB Can’t Simply ‘Look Through’ Supply Shocks, Elderson Says
1732203291 from BLOOMBERG
The European Central Bank can no longer afford to ignore supply shocks to the economy as they can leave a lasting imprint on inflation, Executive Board Member Frank Elderson said, adding they’re likely to emerge more often in the future.
US Dollar steady after Jobless Claims opens door for Fed easing in December
1732202745 from FXSTREET
The US Dollar (USD) is trading flat on Thursday at around 106.50 when tracked by the DXY US Dollar Index, afterNew York Fed President John Williams said that inflation continues to cool down, opening the door for a further drop in interest rates.