Fed still sees three rate cuts in 2024 amid sticky inflation, stronger economy

The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank’s 2% inflation target. The Fed’s new policy statement described inflation as remaining “elevated,” and updated quarterly economic … Read more

JPMorgan sees foreign investors flocking to Indian stocks after elections

Indian equities are poised to lure more foreign inflows after the general elections, with the economy’s promising growth prospects and the Federal Reserve’s rate cuts acting as catalysts. That’s the view from Rajiv Batra of JPMorgan Chase & Co., who says global funds’ positioning in India’s $4.3 trillion stock market remains light and investors will … Read more

US Fed meet begins today: Why will chief Powell & team choose to stay put?

The US Federal Reserve’s two-day monetary policy meeting is slated to begin later today, and the central bank is widely expected to stay put on interest rates after the recent data on inflation. Inflation data released last week showed that consumer prices in the US rose again in February. Consumer prices rose 0.4% for the … Read more

gold price outlook: Fed decisions to set short-term direction for gold prices

Gold prices in the international and domestic markets suffered losses in the first two months of 2024. A strong US dollar, expectations of further delay in US Fed rate cuts, and a rally in global equities affected the sentiment surrounding the metal. The US Dollar has gained almost 3% since the start of January. Firm … Read more

Nifty: Nifty surges to new high of 22,186, analysts expect further upside

Mumbai: India’s benchmark Nifty Monday recorded a fresh closing high, paced by gains in select banks due for higher weightings on a keenly tracked global gauge. Analysts expect further upside for the indices due to attractive valuations in some pockets that have hitherto logged only modest gains in the current rally. The NSE Nifty rose … Read more

Data vacuum an opportunity for time correction in Nifty: Anand James

Nifty, which has been looking for a directional headway on either side, ended the week 0.33% down with all major news trigger events like Budget, earnings, US Fed and RBI policy meetings behind us. Anand James, Chief Market Strategist, Geojit Financial Services, says this data vacuum presents an opportunity for time correction. “But our modest … Read more

US Fed meet outcome today: Can Powell soothe nerves of D-Street? Here’s what experts feel

The US Federal Reserve’s two-day monetary policy meeting will conclude later today, and at the end of it, the central bank is widely expected to leave the federal funds rate unchanged. According to the CME FedWatch tool, 98% of the respondents see the federal funds target range unchanged at 5.25-5.50%. So, a status quo on … Read more

Nomura expects Fed to cut interest rates by 100 bps in 2024

Nomura on Friday forecast the U.S. Federal Reserve delivering a 100-basis-point interest rate cut in 2024 and reducing the pace of balance-sheet rundown in June, followed by an end to quantitative tightening in December. “We expect Friday’s PCE (personal consumption expenditures) report to show the 3m and 6m annualized pace of core PCE running below … Read more

Equity market outlook for 2024 looks more promising than 2023. Here’s why

The year 2023 was very interesting. Initially, the world was concerned of a global recession after interest rates were hiked by 4.25% in 2022, and inflation was still not under control; the banks had moved from QE to QT (money supply easing to tightening) and money supply world over was slowing down. The bright spot … Read more

Holiday-shortened next week to see gold finishing 2023 on a high note

Gold prices finished above $2,000 for the fifth straight week, with Comex Feb futures ending the week at $2066.90, up by 2.4% as the dollar lost the plot to dip sharply to five-month lows of 101.4 level after the release of PCE data on Friday. Gold prices are up 13% ytd heading into the last … Read more