Oil Prices Fall as Saudi Supply Improves, Middle East Fears Ease 
Venezuela Nears Deal to Move $4 Billion in Gold to New York Fed 
US Stock Futures Dip After Wall Street Rally 
Asian Stocks Rise as Oil Falls, BOJ Rate Decision in Focus 
Gold Rebounds Above $4,300 Despite Hawkish Fed Rate Hike 
BOJ Raises Interest Rate to 31-Year High as Yen Weakens 
Asian Chip Stocks Rally as Treasury Yields Ease 
Gold Prices Rise as Oil and Treasury Yields Fall 
East Germany Narrows Economic Gap With West but Wealth Divide Persists 
Asian Stocks Rise After Fed Rate Hike 
Yemen Fighting Threatens Red Sea Oil Routes 
South Korea Producer Prices Rise 0.2% in August 
Asian Currencies Mixed as Dollar Hits Seven-Week High After Fed Hike 
Yen Slides After BOJ Rate Hike as Dollar Holds Near Seven-Week High 
Supertanker Orders Surge as US-Iran War Reshapes Oil Trade 
Iran Economic Crisis Forces Afghan Families to Return Home 
Add as a preferred source on Google
The U.S. Treasuries surged Thursday ahead of the country’s retail sales for the month of May and weekly initial jobless claims, scheduled to be released today by 12:30GMT respectively. However, the widely anticipated 25 bps rate hike by the Federal Open Market Committee (FOMC) in the overnight session failed to support bond prices.
The yield on the benchmark 10-year Treasuries slumped 2 basis points to 2.94 percent, the super-long 30-year bond yields plunged 4 basis point to 3.06 percent and the yield on the short-term 2-year traded 2-1/2 basis points lower at 2.55 percent by 11:40GMT.
The Fed is clearly satisfied with conditions in the US economy. “The economy is doing very well” was Chairman Powell’s opening gambit in his press conference. And the post-meeting statement saw economic activity now described as rising at a “solid rate” (compared with the “moderate rate” of growth reported previously).
Among other changes in a shorter press statement, the FOMC removed the previous reference to market-based measures of inflation expectations remaining low, as well as pledge to “carefully monitor” actual and expected inflation developments. The risks to the economic outlook were still viewed as “roughly balanced”, however. As expected, the now outdated “forward guidance” language evolved to remove the previous reference to the fed funds rate remaining below its long-run levels for some time.
Today will bring the advance US retail sales report for May, which will cast further light on how consumer spending is evolving in Q2. A drop in sales of autos is expected to restrain the headline figure, but solid fundamentals should lead to respectable growth in other components, although some of the ex-auto advance will likely result from higher prices of gasoline. Data for May’s export and import prices, April’s business inventories, and the latest weekly jobless claims are also due.
Meanwhile, the S&P 500 Futures rose 0.06 percent to 2,780.75 by 11:45GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -61.22 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
Lastly, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
