The ongoing race to the bottom for currencies this year is hurtling towards a zero-sum result.
Financial markets have all but shut the door to a Federal Reserve rate hike in September, following a rout in stocks, currencies and commodities this past week, but economy watchers are only now warming up to the idea — in public at least.
The Federal Reserve increasingly looks stuck on the horns of a not-so-bullish dilemma: should it pay attention to global developments in financial markets, which argue for pause, or should it focus squarely on U.S. economic data, which suggest the time is nigh to hike?
South Africa’s second quarter growth undershot economists’ expectations in spectacular fashion on Tuesday, a clear signal emerging markets face torrid times.
The latest euro zone flash purchasing managers’ indexes may have surprised slightly on the higher side, but many are still not convinced that better economic growth is coming later this year.
“Nothing to see here, folks” was the reaction most analysts had to a completely shocking report earlier this week that showed manufacturing business conditions in New York State deteriorated at their fastest pace since the start of the financial crisis.
A U.S. Federal Reserve interest rate hike in September is almost certain according to many forecasters and investors, but the decision to tighten policy for the first time in nearly a decade is not as clear-cut as it may appear.