Premarket: Global stocks sluggish after Fed signals no quick rate cuts

World markets wobbled in Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates, while the yen backtracked after another suspected bout of foreign-exchange intervention.

While Fed chair Jerome Powell indicated that stubbornly high inflation would see a long-expected U.S. rate cut pushed back, he refused to entertain talk that rates might actually need to go up again. Kyle Rodda, senior financial market analyst at Capital.com in Melbourne, said it had been another “sneak attack” by Japan’s authorities “looking to punish speculators and send a warning about shorting the yen”.

Europe’s dealers had nudged the euro up 0.1 per cent in the other direction to US$1.0727 despite data showing a deepening downturn in euro zone manufacturing activity. The Fed’s signals were still being digested by bond markets, which were also starting to refocus on key U.S. non-farm payrolls data on Friday.

Source: News Formal (newsformal.com)

Marketupdate Tsx Stocks Equities S&P Dow Jones Oil Banks Wall Street

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple services restored after brief outages globallyIssues with Apple App Store, Apple TV+, Apple Music resolved after outages
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: U.S. dollar near five-month highs ahead of Fed policy decisionU.S. share futures dip; trading thin with many European and Asian markets closed
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Shares steady, bonds hit by Fed disappointmentThe prospect of U.S. interest rates staying higher for longer pushed Treasury yields to five-month highs and buoyed the U.S. dollar
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global shares head for monthly loss in action-packed weekWall Street futures down ahead of a slew of economic data, earnings and the U.S. Federal Reserve’s policy meeting
Source: globeandmail - 🏆 5. / 92 Read more »

Premarket: Global shares rise while yen surges on suspected interventionInvestors looked toward the Federal Reserve’s latest decision on Wednesday and U.S. jobs data on Friday
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Global stocks teeter toward worst month since September, yen swingsFutures markets predicted strong tech earnings would spark a Wall Street relief rally later in the day and help traders recoup losses
Source: globeandmail - 🏆 5. / 92 Read more »