Forex News
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A 12-string acoustic guitar owned by John Lennon in the 1960s was sold for $2.86 million at a New York auction on Wednesday, the organizer said, with the price setting a new record for a guitar linked to the British rock band The Beatles. According to Julien's Auctions, the guitar was owned by Lennon and used by both Lennon and George Harrison during ...
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One evening in March — at 8:41 p.m. Chicago time to be exact — internal warnings flashed within Walmart Inc. about a curious thing happening at hundreds of its stores across the US. Shoppers scanning certain items at self-checkout stands were seeing the wrong prices. Some prices were lower than listed. Others were higher. Unbeknownst to those buying food, ...
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Inflation and wages are kind of a chicken or egg issue. Do higher prices cause higher wages or do higher wages cause higher prices? I suppose it’s probably a little of both. There is an obvious relationship when you look at the data. Here’s a look at year-over-year wage growth versus trailing twelve-month inflation going back to 1965: chart Wages grow ...
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North Korea fired around 10 short-range ballistic missiles into the East Sea on Thursday, the South Korean military said, a day after sending hundreds of large balloons carrying trash and manure into the South. The Joint Chiefs of Staff (JCS) said it detected the flight vehicles presumed to be short-range ballistic missiles fired from the Sunan area in ...
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Weak demand for US 7-year treasuries sent Wall Street indices lower on Wednesday, on concerns that funding the US deficit will drive up yields alongside ‘higher for longer’ Fed rates. And that manifested with a higher US yields curve and a stronger USD, which enjoyed at strongest daily performance in over a month. This week I have warned of a potential ...
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post: FED’S BOSTIC: INFLATION PATH WILL BE BUMPY, BUT GENERAL TREND IS DOWN || PATH TO 2% INFLATION IS NOT ASSURED, FED IS VIGILANT || JOB MARKET TIGHT BUT NOT AS TIGHT, MORE LIKE FEB. 2020 post: FED’S BOSTIC: BREADTH OF PRICE GAINS STILL PRETTY SIGNIFICANT || LESS INFLATION BREADTH WOULD ADD TO CONFIDENCE FOR CUT
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North Korea fired around 10 short-range ballistic missiles into the East Sea on Thursday, the South Korean military said, a day after sending hundreds of large balloons carrying ...
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Financial security has become an indispensable part of China’s national security discourse since the 1997 Asian financial crisis. Rising geopolitical tensions with the US since ...
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The Bank of Japan said Wednesday its appraisal loss on government bond holdings widened to a record 9.43 trillion yen ($60 billion) at the end of fiscal 2023, affected by rising ...
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post: SWISS NATIONAL BANK'S JORDAN: REASONS TO BELIEVE THE NATURAL RATE OF INTEREST HAS INCREASED OR MIGHT RISEJordan: The natural rate of interest (r*) as a reference point for monetary policy - a practitioner's view Ladies and gentlemen I am delighted to be here today in Seoul to address such a distinguished audience. I would like to thank Governor Rhee for inviting me to give this keynote speech. The topic of this year’s Bank of Korea International Conference – ‘The Evolution of the Natural Interest Rate and Its Implications for the Global Economy’ – could not have come at a better time. Monetary tightening over the past two years has lifted policy rates and longerterm interest rates from their historical lows. There are reasons to believe that some of the structural drivers of real interest rates have also changed direction in recent years. A lively debate has emerged on whether real interest rates will return to their pre-pandemic levels, or whether they will remain higher because the natural rate of interest, r*, has increased.1 Over the past years, r* has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank’s monetary policy stance. Therefore, r* estimates help in evaluating different monetary policy options. However, the measurement of r* is subject to high uncertainty. Today I would like to focus mainly on how policymakers can nevertheless make use of r* estimates in practice. In the first part of my remarks, I will briefly review the developments in real interest rates over the past decades. I will then turn to the concept of r* itself. In the second part, I will discuss how policymakers can use r* in practice to assess the monetary policy stance, and in particular, how they can deal with the inherent uncertainty in r* estimates. Here I will draw especially on the Swiss National Bank’s experience.
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post: FED’S BOSTIC: INFLATION PATH WILL BE BUMPY, BUT GENERAL TREND IS DOWN || PATH TO 2% INFLATION IS NOT ASSURED, FED IS VIGILANT || JOB MARKET TIGHT BUT NOT AS TIGHT, MORE LIKE FEB. 2020 post: FED’S BOSTIC: BREADTH OF PRICE GAINS STILL PRETTY SIGNIFICANT || LESS INFLATION BREADTH WOULD ADD TO CONFIDENCE FOR CUT
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The estimated annual inflation of the CPI in May 2024 is 3.6%, according to the flash indicator prepared by the NSI. This indicator provides a preview of the CPI which, if ...
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USDJPY experienced a strong setback from its 34-year high of 160.20 following an intervention by Japanese authorities in late April. However, the pair has slowly but steadily recouped a significant part of these losses, attempting to revisit its recent multi-year highs. Should bullish pressures persist, the price could initially test the May resistance ...
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The USD saw decent strength in Wednesdays session, with The US Dollar Index (DXY) rising from an open of 104.67, pushing through the resistance at 105 to hit a high of 105.14 on the back of firmer US Treasury yields. Despite this rally DXY is heading into the end of the month looking to have its first monthly decline since December 2023. Ahead today we have ...
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Although South Korea is one of the more developed financial markets, the operating hours for its foreign exchange (FX) market have been quite limited. Until now, the Korean won trading has only been active for 6.5 hours, but it will soon be significantly prolonged. This change will be groundbreaking, extending the official session to 17 hours. According to ...