Forex News
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For one Citigroup Inc. trader in London, the morning of May 2, 2022 went from bad to worse. It was a public holiday in the UK, so it should have been a quiet day in the markets. A little before 9 a.m., the staffer on Citigroup’s Delta One trading desk — who was working from home — began putting together a trade that would hedge the bank’s exposure to the ...
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A 10.20-carat pink diamond, thought to be the most important of its cut and color to be offered in 12 years, is expected to realize up to $12 million at an upcoming jewelry sale at Christie’s in New York. The round brilliant-cut, fancy-intense-pink, internally flawless diamond will headline the June 11 Magnificent Jewels auction, Christie’s said Tuesday. ...
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With the U.S. Presidential election set for a rematch in November, many investors are wondering how the U.S. stock market might perform in the months that follow. While predicting the future is never easy, using history as a guide can be useful for understanding how markets might react to a Biden or Trump victory. To this end, I have written this blog post ...
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U.S. Treasury Secretary Janet Yellen said on Thursday that G7 finance ministers will discuss their concerns about China's excess industrial capacity and potential responses, adding that without policy changes in Beijing their economies will be hit with a flood of cheap Chinese goods. "This week will be a key opportunity to discuss how China’s macroeconomic ...
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An ugly home sales print (but record April home prices) combined with declining traffic and smaller spend data from Target threw some shade on the market early on but it was the FOMC Minutes that sparked the waterfall with their more hawkish comments. For any and all that say "yeah but they're stale, we had CPI and Retail Sales since", see the chart below ...
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Federal Reserve officials of late have been worried both about the persistence of inflation and a slowing economy, minutes of the central bank’s recent meeting released on Wednesday showed. The Fed chose to keep its key interest rate steady at the highest level in some two decades at its April 30 to May 1 gathering. Officials will meet again June 11 and 12 ...
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U.S. Treasury Secretary Janet Yellen said on Thursday that G7 finance ministers will discuss their concerns about China's excess industrial capacity and potential responses, ...
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LME copper opened at $10,605/mt overnight, initially reaching a high of $10,605/mt before trending downward. By the end of the trading session, it touched a low of $10,363/mt and ...
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An ugly home sales print (but record April home prices) combined with declining traffic and smaller spend data from Target threw some shade on the market early on but it was the ...
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post: FOMC Minutes: Fed Officials Note 'Disappointing' Inflation Readings in First Quarter FOMC Minutes: Officials Discuss Holding Rates Steady For Longer if Inflation Doesn't Fall FOMC Minutes: Officials Still Think Monetary Policy Is Restrictive, But Uncertain About DegreeMinutes of the Federal Open Market Committee April 30–May 1, 2024 Developments in Financial Markets and Open Market Operations The manager turned first to a review of developments in financial markets. Domestic data releases over the intermeeting period pointed to inflation being more persistent than previously expected and to a generally resilient economy. Policy expectations shifted materially in response. The policy rate path derived from futures prices implied fewer than two 25 basis point rate cuts by yearend. The modal path based on options prices was quite flat, suggesting at most one such rate cut in 2024. The median of the modal paths of the federal funds rate obtained from the Open Market Desk’s Survey of Primary Dealers and Survey of Market Participants also indicated fewer cuts this year than previously thought. Respondents’ baseline expectations for the timing of the first rate cut—which had been concentrated around June in the March surveys—shifted out significantly and became more diffuse. Treasury yields rose materially over the intermeeting period. At shorter maturities, the increase appeared to largely reflect higher inflation compensation, while at longer maturities, it was attributable mostly to a higher expected path for the real policy rate and higher real risk premiums. Model estimates suggested that inflation expectations rose some, but mostly at post: FED MINUTES: PARTICIPANTS AT THE MEETING ASSESSED IT WOULD TAKE LONGER THAN PREVIOUSLY ANTICIPATED TO GAIN GREATER CONFIDENCE IN INFLATION MOVING SUSTAINABLY TO 2%. post: FED MINUTES: VARIOUS PARTICIPANTS MENTIONED WILLINGNESS TO TIGHTEN POLICY FURTHER SHOULD RISKS TO OUTLOOK MATERIALIZE AND MAKE SUCH ACTION APPROPRIATE. post: Fed Staff’s Economic Projection Was Similar to March Outlook, but Noted That Deteriorating Household Financial Positions, Especially for Lower-Income Households, Might Prove to Be Bigger Drag on Activity Than Anticipated
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Business activity rose in Germany for the second month running and at a faster rate in May, the latest HCOB ‘flash’ PMI survey compiled by S&P Global showed. Alongside stronger ...
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The economic recovery in the eurozone gained momentum in May, according to provisional PMI survey data. Faster increases in business activity, new orders and employment were all ...
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USDJPY closed Wednesday’s session with modest gains at 156.75 as the FOMC minutes highlighted worries about inflation and disagreements among policymakers on the timeline of monetary easing. The soft bullish move was enough to drive the price above the short-term resistance line drawn from April and therefore boost optimism for a continuation higher, but ...
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The Australian dollar has dropped against the US dollar following the release of hawkish minutes from the Federal Open Market Committee (FOMC). The minutes indicated that the Federal Reserve might raise interest rates if inflation necessitates such action. The minutes stated that various participants mentioned willingness to tighten policy further should ...
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IC Markets Global, one of the world’s largest Forex CFD providers, has partnered with TipRanks, a premier provider of investment research tools. This partnership is aimed at enhancing investment and trading research capabilities for IC Markets Global clients, providing them access to TipRank’s sophisticated tools. Aligned with IC Markets Global 16-year ...