EUR/USD
1.13804
-0.272%
Gold
4063.52
-1.607%
Oil
90.023
4.811%
USD/JPY
163.680
0.331%
GBP/USD
1.33381
-0.271%
GBP/JPY
218.325
0.060%
Real-time News
European Central Bank President Christine Lagarde reiterated the policy statement.July 23 – Conor Parle, a Eurozone economist at Fidelity International in London, stated that while the European Central Bank (ECB) kept interest rates unchanged at todays meeting, this pause in rate hikes is likely temporary given rising commodity prices and the latest escalation of tensions in the Middle East. Besides oil prices, natural gas prices had already been rising before the recent escalation of tensions. Increased demand to replenish low inventories ahead of winter, along with increased natural gas imports from overseas countries, is likely to continue supporting price pressures in the natural gas market. Meanwhile, the Eurozone economy has shown considerable resilience, meaning that after the ECB updates its economic forecasts in September, it will likely be in a more favorable position to raise interest rates by another 25 basis points to the upper limit of the neutral range, while simultaneously sending a clear signal of its commitment to price stability to the market.July 23 – The number of Americans filing for unemployment benefits for the first time fell sharply last week, indicating that the U.S. job market remains stable and that Federal Reserve officials need to continue focusing on curbing inflation. The U.S. Labor Department said Thursday that initial jobless claims for the week ending July 18 fell by 22,000 to 187,000, compared to expectations of 212,000. Thursdays report is the latest sign of continued stability in the labor market. The unemployment rate unexpectedly fell to 4.2% in June, a one-year low, but this decline was more due to a decrease in the labor force than job growth. The U.S. job market exhibits an unusual balance: limited labor supply, slow job creation, and relatively limited layoffs have kept the unemployment rate at historically low levels. This situation has prompted more and more Federal Reserve policymakers to focus on inflation, which remains well above the 2% target, rather than showing more concern for the strong job market.Allianz Chief Advisor El-Erian: The newly released weekly initial jobless claims data provides further evidence of the resilience of the U.S. labor market. Initial jobless claims fell by 22,000 to 187,000, far below the market consensus of 210,000.Total Energy CEO: Refining margins were $35 per barrel in July.
