Currencies

The data comes just a few days after the Federal Reserve kept interest rates steady and shot down expectations for an interest rate cut in March. But Fed Chair Jerome Powell struck a somewhat optimistic note on the U.S. economy, which drove investors into risk-driven assets despite the prospect of higher-for-longer interest rates. 

The Chinese yuan was among the worst performers on Thursday, down 0.2% as data showed little improvement in a sluggish economic recovery. A private survey showed that China’s manufacturing sector grew as expected in January, but its pace of growth now appeared to be slowing. 

The U.S. central bank is expected to leave interest rates unchanged on Wednesday and investors will focus on any clues from Fed Chairman Jerome Powell on the likelihood of a rate cut in March.

Traders have cut odds that the U.S. central bank will reduce rates in March to 48%, from 89% a month ago, according to the CME Group’s FedWatch Tool, as data reinforces a view that the U.S. economy remains solid.

The annual inflation rate was under 3% for the third straight month. The Fed tracks the PCE price measure for its 2% inflation target.

o If you have a domain name and web hosting, you can set up a stunning blog for free in WordPress.  One of the standout aspects of WordPress websites is themes. and you can get great WordPress blog themes for free. Don’t get too concerned about the word ‘free’.  These popular free WordPress themes for…

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic…