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On Wednesday, the Federal Open Market Committee (FOMC) raised the fed funds rate by 25 basis point at its May 2023 meeting. This marks the tenth consecutive hike, bringing the target range at 5.00% – 5.25%. Fed Chair Powell kept the door open by stating that they will take a data-dependent approach in determining the next steps. Powell also opposed market predictions that the Fed will lower rates by the end of the year. The turmoil in US regional banks added to market volatility causing a drop on Wall Street.

In March 2023, US headline consumer price index (CPI) slowed for nine consecutive months to 5%, while core CPI slightly rose to 5.6%, from 5.5%. The personal consumption expenditure (PCE) price index eased to 4.2% year-on-year in March 2023, from an upwardly revised 5.1% in the prior month. The annual core PCE, the Fed’s preferred gauge, rose by 4.6%, slightly higher than market forecasts of 4.5% and still above the central bank’s 2% target.

The ADP report showed that 296.000 private payrolls were added in April 2023, well above the forecast of 148.000 and a downwardly revised 142.000 in March.

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Registered Company number OC333807.

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If you are a private investor you must not access this area of our website. Please select the Retail Client option from our welcome screen.
We draw your attention to the “Legal Documents” pages of our web site. This can be found at the top of each page. This section contains important information about the terms under which you use this web site, risk warnings and other important information. Please access and read this Important Information section.
Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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If you are a private investor you must not access this area of our website. Please select the Retail Client option from our welcome screen.
We draw your attention to the “Legal Documents” pages of our web site. This can be found at the top of each page. This section contains important information about the terms under which you use this web site, risk warnings and other important information. Please access and read this Important Information section.
Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

For further information, please read our Legal Documents.