Services
  • Services


  • Payment Methods


  • Swift/IBAN

Services

USD:

Buy:

1.3459

/

Sell:

1.3843

-0.09%


-0.09%


EUR:

Buy:

1.4823

/

Sell:

1.5344

-0.03%


-0.03%


GBP:

Buy:

1.7503

/

Sell:

1.8053

-0.01%


-0.01%


JPY:

Buy:

0.00855432

/

Sell:

0.00889097

-0.05%


-0.05%


July 16th 2024, 4:40:22 pm

(about a few seconds ago)

Central banks may have to stop interest rate hikes sooner

Share On

🏦Central banks may have to stop interest rate hikes sooner.💯

US equities rose slightly for the third day as the latest data points to slower US economic growth that may convince the US central bank not to increase interest rates as aggressively as officials have outlined. S&P 500 and tech-heavy Nasdaq both added 0.35%. 

Canadian stocks ended lowers as oil prices dipped below 100 a barrel on the same slowing global economic growth and elevated risk of Recession. Canada’s S&P/TSX composite lost 0.57%. 

Renewed lockdown in China has caused tremendous economic pain and a lower GDP forecast for 2022. The European energy crisis caused by the Russia-Ukraine conflict signals a worldwide slowdown. According to Bloomberg, there is a 38% chance of a US recession in 2022, and investors are betting that US Federal Reserve may even change its rhetoric in 2023 and cut rates back to lower levels.

US 10-year Treasury yields fell to 2.93% and lower than 2-year rates, which signals US recession and markets expecting the rates not to stay at a high level for an extended period.

US dollar as a safe haven remains strong at 1.30 against the Canadian dollar while risky assets such as Bitcoin extend their lackluster returns this year.