After one more interest rate cut, the Federal Reserve will be finished cutting rates, according to Goldman Sachs. The firm gives an 80% probability of another rate cut this year to wrap up the Fed’s easing cycle.
Global Economic
Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
ECB Press Conference Outlook & Report on Thursday, 12 September 2019
Mario Draghi faces one of the most contentious policy meetings of his European Central Bank presidency on Thursday as he prepares to ramp up monetary stimulus again despite skepticism from the euro area’s biggest economies.
Bank of Russia is expected to cut the key rate by 25 basis points
The Bank of Russia is set to meet tomorrow for its monetary policy decision. According to a Nordea Bank research report, the Bank of Russia is expected to cut the key rate by 25 basis points. Modest economic performance and moderate inflation pressure give hope for a continuation of the easing cycle in 2020.
Gold Boom Higher on Lackluster Non-Farm Payrolls Data – Gold Silver Reports
The increase in new jobs for July was downwardly revised to 159,000 from 164,000 and June’s figure was cut to 178,000 from 193,000. Average hourly earnings was a bright spot, rising by 0.4% in August and 3.2% over the year, beating expectations. The market reacted to the jobs data with a sharp rally in gold and the US dollar weakening against its major counterparts.
Global Economic Data to Watch Friday, September 6
In much the same way as the US economy’s Manufacturing PMI, the health and pace of the German industrial sector is also the driving force not only for its domestic economy but really for that of the European Union as a whole.
Bank of America Merrill Lynch Fund Managers Expecting a Global Recession in the Next 12 Months
In its latest survey of fund managers, Bank of America Merrill Lynch points out that the proportion of fund managers expecting a global recession in the next 12 months was at its highest since 2011. Last week, the US yield curve inverted, setting the stage for the yellow metal to shine even brighter.
The Federal Reserve is Expected to Deliver a 25bp Cut at Each of the Next Five Meetings
The Federal Reserve is expected to deliver a 25bp cut at each of the next five meetings; the target range would also be most likely lowered to 0.75-1.00 percent at the March meeting, according to the latest research report from Danske Bank.