The ECB will assess the impact of the recent euro's rise on consumer price growth in its quarterly forecasts to be released in March, but Executive Board member Piero Cipollone told the Cyprus news agency that recent moves have been rather limited. According to a record published on the ECB's website on Sunday, an Italian policymaker said officials consider the exchange rate as one of the factors “forecasting inflation dynamics.” “We will see how the...
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FXCG Market Summary: US Stock Index Futures Fall, Tech Sell-off Likely to Continue
Global stock market sell-off is expected to intensify further on Friday, after sharp declines in US tech stocks and cryptocurrencies dampened risk appetite, prompting investors to turn to US Treasuries. US stock index futures opened more than 0.6% lower on Friday, following a broad decline in Wall Street indices, with the Nasdaq 100 suffering its worst three-day drop since the April crash. The benchmark index has lost more than $1 trillion in market capitalization since...
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Federal Reserve Chair Lisa Cook Says Central Bank Must Maintain Inflation Credibility
Federal Reserve Governor Lisa Cook said the central bank must bring inflation back to its target level in the near future to maintain its credibility. Speaking at an event in Miami on Wednesday, Cook said, "Unless I see stronger evidence that inflation is consistently falling back to its target level, my focus will be here, barring any unexpected changes in the labor market." Fed policymakers kept the benchmark interest rate unchanged last week in a...
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FXCG – Asian Stocks Fall as Tech Sell-Off Intensifies
Asian stocks fell for the second straight day, with selling pressure intensifying on tech stocks, further fueled by investor concerns about overvaluation and massive spending in the artificial intelligence sector. The MSCI Asia Pacific Index fell 0.7%, with stocks such as Samsung Electronics and SoftBank Group leading the decline. The Korea Composite Stock Price Index (KOSPI) – a benchmark for AI investment – led the losses, falling 2%. This followed the Nasdaq 100's worst two-day...
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FXCG – AI Fears Trigger Stock Market Turmoil, Gold Price Breaches $5,000 Mark
Software stocks have been hit by sell-offs, leaving the stock market with an uncertain outlook, while the price of gold has climbed back above the key threshold of $5,000 per ounce. On Wednesday, stocks sensitive to economic conditions led the gains, with the Russell 2000 Small Cap Index futures rising 0.4%. S&P 500 Index futures edged up 0.1% ahead of Alphabet's earnings release, while Nasdaq 100 Index futures dipped 0.3%. Advanced Micro Devices (AMD) shares...
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