Forex News
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A Tesla shareholder filed a lawsuit on Thursday (May 30) accusing CEO Elon Musk of insider trading when he sold over US$7.5 billion of shares of the electric car maker in late 2022, saying the billionaire entrepreneur sold the shares before potentially disappointing production and delivery numbers were made public. Shareholder Michael Perry, in the lawsuit ...
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It is certainly hard to keep the various venues and facets of Deutsche Bank’s now 15-year-long battle with billionaire Alexander Vik in order and understanding. After all, they involve numerous lawsuits and one criminal case against the Monaco-based billionaire in the High Court of Justice and Court of Appeal in London, the Court of Probate and Enforcement ...
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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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More weakening: Real (inflation-adjusted) Income and spending was negative in April. The PCE price index remained flat at 0.3 percent for the month and 2.7 percent for the year. chart Personal Income and Outlays, April 2024 The BEA’s Personal Income and Outlays report for April shows no further progress on the inflation front and weakening consumer ...
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Markets didn’t spend any time looking beneath the GDP headlines while piling into the Canadian front-end and driving yields lower. They should have. I view the numbers as very constructive for several reasons not least of which that growth in consumer spending is at its strongest in years and needs no help from rate cuts. Before turning to details, the ...
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For nearly 20 years of my life, I looked with great anticipation to the time of the year when April rolled into May and June. The explosion of spring and the approach of summer were wonderful. But, more importantly, this meant that graduation season had arrived. As a professor at the University of Southern California, it was again time to don my cap and gown and celebrate the amazing accomplishments of an amazing group of people. It was my happiest time of the year. At graduation, no matter where it is, everybody seems to be floating on air, almost dancing. Maybe the electric slide? Now I have to tell you, I was a little bit afraid to use that reference, as it might show my age. Do you guys know that dance? Don't worry, I'm not going to demonstrate. At least not in this cap and gown. Can you imagine this hood on that hard turn to the right?! Now I recognize the youngsters in the crowd here might gravitate to a different step, but please bear with this Gen Xer. My overarching point is this: it is a great personal privilege to share in the pride, joy, and excitement this evening brings. Congratulations to the class of 2024! I know that it has taken a lot of effort to get here. You graduates definitely worked hard. But let's not forget the sacrifice from all the others: friends, family, mentors, teachers, administrators. This is truly a team effort. Let me give a particular shout-out to President Jermaine Whirl, who is presiding tonight. And thank you, Dr. Whirl, for inviting me to speak. I've gotten to know Dr. Whirl in his capacity as an adviser to the Atlanta Fed, and I have to say that you've got a special man here. Now, you just heard my bio, so you know I'm an economist. That may have triggered an "uh-oh" in your mind. Well, don't worry. I'm not going to give a dull economics lecture. I'll leave those discussions for TV interviews. I'm not even going to talk about interest rates. It wouldn't much matter if I did, though, as I'd only be speaking for myself and not for the Fed or any of my Fed colleagues across the country. Tonight is about you. You are about to embark on a wonderful journey, full of twists and turns, for sure. But this journey will also present you with opportunities broader and more diverse than you could imagine. You can't know this right now, but you will have chances to be more than you think, to be bigger than you think, to be more impactful than you think. I know because it's happened to me. Take this job, for example. Being a Federal Reserve Bank president was nowhere on my dream job list 10 months before I started doing it. I was contacted in August, offered the job in March, and was in the job, living in the South for the first time in June of 2017. The same goes for my time in the Obama Administration. In the 2008 election Americans chose Barack Obama as their leader, and I didn't think too deeply about it. I was doing my professor gig. I was happy teaching students like you and doing research on housing. At the time, the country was in the midst of a housing crisis. But I was still surprised when I got a call in December from Washington asking if I would be willing to meet with folks about a leadership role in the Administration. Well, I was confirmed by the Senate in the late spring and started work in the summer. That all happened in just seven months, folks! You may be wondering why that surprised me. After all, it was during a housing crisis, as I mentioned, and I was a housing expert. Well, the truth was that I didn't see myself that way. Like many of you, I figured my only direct connection to presidential and federal policy was voting. I couldn't imagine myself in a bigger-picture role. My view of what was possible was limited to what I saw and knew. I was where you are now. So, having been in your shoes, let me offer two pieces of advice. First, be open to the unexpected. People will see things in you that you haven't seen in yourself, post: FED'S BOSTIC: NO COMMENT ON MONETARY POLICY IN SPEECH TEXT
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Many central banks are at a critical juncture in their current monetary policy cycles as they assess whether it would be appropriate to embark on an easing phase following one of ...
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It’s been a bit of a weird week as idiosyncratic positioning, rebalancing, and rotation trades have dominated as there wasn’t much to chew on macro-wise. The story in macro was ...
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It’s been one of those weeks that’s all about the details. The weekly bar of the US Dollar is currently showing as a spinning top but that doesn’t really tell the story of the currency’s price action. Last week showed a strong response to resistance at the 105-105.13 zone, which led to a fast snap back that held through this week’s open. On Tuesday, a key ...
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USDCAD has been rebounding off the medium-term ascending trend line over the last couple of weeks, remaining in a positive territory. However, the pair is also finding strong resistance around the 1.3740 barricade with the short-term simple moving averages (SMAs) suggesting a potential bearish crossover. The technical oscillators are showing some mixed ...
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HFM, one of the biggest brokers regulated by the South African authorities and a global broker of choice, has been honored with the ‘Best Copy Trading Broker Award’ at FMAS:24 in recognition of their reinvented Copy Trading program and market leading trading conditions. Copy Trading, HFM’s innovative copy trading feature, transcends geographical boundaries ...