*U.S. STOCK FUTURES INCH HIGHER AS WALL ST AWAITS POWELL COMMENTS - $DIA $SPY $QQQ 🇺🇸 🇺🇸
Crude shipments into China fell in January and February, stirring concern about demand in the world's largest importer, which weighed on the oil price."Over the last few weeks, data out of the US has been far more resilient than expected, fuelling bets that the Fed will have to raise rates beyond what was communicated earlier and rates will stay elevated for longer as well," strategists at Saxo Bank said.
The MSCI All-World index of global shares was marginally in positive territory at 641.60 points, close to Monday's two-week highs., which have more than doubled in the last 12 months, were last down 5 basis points on the day at 3.93%. Money markets show traders believe U.S. rates will peak just shy of 5.5% by September, from a range of 4.50-4.75% right now.Powell starts his semi-annual two-day testimony before Congress on Tuesday. Investors will monitor his remarks for any insight into his thinking on where U.S. rates will likely head.
The U.S. February employment report is expected on Friday and any softening in the robust jobs market will be seen as a sign that the Fed's rate hikes are having their desired effect.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar inches up ahead of Powell speech; China data knocks oilGlobal shares were broadly steady and the dollar nudged higher on Tuesday, ahead of Federal Reserve Chair Jerome Powell's testimony that could offer a steer on the outlook for U.S. rates, while soft Chinese trade data dented oil.
Read more »
Wall St pares gains, Treasury yields turn higher ahead of Powell testimony By Reuters⚠️BREAKING: *WALL ST ENDS MIXED AHEAD OF POWELL TESTIMONY - $DIA $SPY $QQQ $IWM $VIX
Read more »
Dollar subdued ahead of Powell testimonyThe dollar was subdued on Tuesday ahead of testimony by Federal Reserve chair Jerome Powell, which investors will focus on for cues of the path the U.S. central bank is likely to take in tackling sticky inflation.
Read more »
Dollar subdued as traders eye Powell testimony, jobs reportThe U.S. dollar made a tentative start to the week on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell and looked towards for a February jobs report that will likely influence how hawkish the U.S. central bank will be.
Read more »
Dollar slips as investors await Powell testimonyThe U.S. dollar was broadly lower on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell and looked towards a February jobs report at the end of the week that will likely influence how hawkish the U.S. central bank will be.
Read more »
US Dollar Index: DXY bears approach 104.00 with eyes on Fed Chair Powell’s TestimonyUS Dollar Index: DXY bears approach 104.00 with eyes on Fed Chair Powell’s Testimony – by anilpanchal7 DollarIndex RiskAppetite YieldCurve Fed Currencies
Read more »