NEWSFEED HIGHLIGHTS
- S&P 500 Unofficially Closes Down 32.62 Points, Or 0.42 Percent, At 7,715.09
- Nasdaq Unofficially Closes Down 72.13 Points, Or 0.27 Percent, At 26,511.93
- Dow Jones Unofficially Closes Down 287.77 Points, Or 0.54%, At 53,398.34
- Hormuz May Eventually Not Be Necessary, With Pipelines
FEATURED STORIES
Friday’s jobs report will likely hold less significance than next week’s inflation report but is still seen shaping the narrative ahead of this month’s FOMC meeting, if the US produces another negative figure.
The consensus estimate for payrolls is 55,000, in what would be a rebound from last month’s fall of 23,000. The unemployment rate is forecast to hold steady at 4.1%, with average hourly earnings seen at 0.3% m/m and 3.1 y/y.
The prospect of higher Canadian interest rates appears to be moving more clearly into view following the Bank of Canada’s latest monetary policy decision. Even so, analysts remain unconvinced that a hike will materialise before year-end.
As widely expected, the Governing Council voted on Wednesday to keep the policy rate unchanged at 2.25%.
The accompanying statement struck a distinctly more hawkish tone and appeared to open the door to a rate hike before...
‘Rinse and repeat’ is likely to be the order of the day for Bank of Canada rate-setters when they announce their latest monetary policy decision on Wednesday.
The Governing Council is expected to keep the target for the overnight rate unchanged at 2.25%, with the Bank Rate at 2.50% and the deposit rate at 2.20%.
The statement accompanying the...
The preliminary estimate of eurozone consumer-price inflation is expected to show that the headline rate accelerated in August, driven largely by higher fuel costs. It will be the final inflation release before the European Central Bank’s 9–10 September policy meeting.
A poll of economists forecast that annual headline inflation rose to 3.3% from 2.9% in July. More encouragingly, the less volatile core rate is expected to...
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