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On August 6th, Federal Reserve Governor Tim Cook reiterated her stance: she is prepared to raise interest rates if inflation does not slow, and warned that policymakers may not have room to wait for inflation to return to the 2% target. While Cook supported the Feds decision to keep interest rates unchanged at the July policy meeting, she cautioned that the longer inflation remains above the Feds target, the more difficult it will be to curb it. Speaking at an event in Alaska, Cook said, "If I dont see signs of a sustained decline in inflation anytime soon, Im prepared to act. With inflation above target for five consecutive years, the risk of inflation becoming entrenched in price and wage-setting behavior is rising, which will lead to more persistent inflation that we will find harder to manage." However, Cook indicated that the waning impact of tariffs, the potential for lower oil prices, and easing pressures related to the AI boom might provide a buffer for inflation, thus necessitating policy tightening. She stated that her primary task remains getting inflation back to the Feds target level.SanDisk (SNDK.O) shares fell more than 3% in after-hours trading in the U.S.SanDisk (SNDK.O) reported revenue of $8.96 billion for Q4 of fiscal year 2026, exceeding market expectations of $8.394 billion and compared to $1.901 billion in the same period last year.SanDisk (SNDK.O) expects revenue of $10.3 billion to $10.8 billion for the first quarter of fiscal year 2027, compared with market expectations of $10.8 billion.Federal Reserve Governor Cook: Weak consumer confidence is related to a number of factors, including high inflation.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

 截屏2022-08-04 下午5.25.46_1024x576.png

 

In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


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