Forex News
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The California Highway Patrol found 15 lbs of cocaine with a street value of $700,000 during a traffic stop in Merced Country on April 27, the CHP reported. Around 3:15 p.m., a 2010 Subaru driving on I-5 around 30 miles west of Merced was pulled over for a traffic violation. During the stop, the officer became suspicious and conducted a search using a K-9 ...
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Almost eight months after his death at age 79, the Los Angeles estate of financier Robert Day is available for the first time in nearly three decades, asking a jaw-dropping $150 million. Built in the 1970s, the Palladian-style residence known as Villa dei Fiori (Villa of Flowers) occupies three contiguous parcels with two separate addresses in Lower Bel ...
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When it comes to Contracts for Difference (CFDs), one of the most common questions among traders is how long do you hold a CFD? Unlike some financial instruments, CFDs do not have a fixed expiry date and therefore traders can use different trading strategies at their will. Nevertheless, the period that you keep a derivative will affect both your trading ...
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post: Fed’s Kashkari: Most Likely Scenario is We Stay Put for Extended Period on Rates post: KASHKARI: JOBS REPORT FRIDAY WAS SOFTER THAN EXPECTED BUT NOT SOFT post: Fed’s Kashkari: in March I Jotted Down Two Rate Cuts for This Year; Possible Will Stay at 2, or Go to 1 or 0 Rate Cuts for June Sep post: FED'S KASHKARI: IF WE SEE A MARKED LABOR WEAKENING, IT COULD SPUR A CUT. post: KASHKARI: WOULD NEED TO SEE MULTIPLE READINGS ON INFLATION TO BE CONFIDENT TO CUT RATES
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Over the past few years, I have published a series of essays assessing where we are in our inflation fight and highlighting some important questions policymakers are facing. My most recent essay was in February of this year, where I questioned how much monetary policy was actually restraining demand. This essay is an update to that commentary, and I now examine the current stance of monetary policy in more detail.1 I will argue that the Federal Open Market Committee (FOMC) has tightened policy significantly, compared with prior cycles, both in absolute terms and relative to the market’s understanding of neutral. But I will also observe that the housing market is proving more resilient to that tight policy than it generally has in the past. Given that housing is a key channel through which monetary policy affects the economy, its resilience raises questions about whether policymakers and the market are misperceiving neutral, at least in the near term. It is possible that once the reopening dynamics of the post-COVID economy have concluded, the macro forces that drove the low-rate environment that existed before the pandemic will reemerge, pulling neutral back down. But the FOMC must set policy based on where neutral is in the short run to achieve our dual mandate goals in a reasonable period of time. The uncertainty about where neutral is today creates a challenge for policymakers. post: FED'S KASHKARI: HOUSING MARKET IS PROVING MORE RESILIENT TO TIGHT MONETARY POLICY THAN IT HAS BEEN IN THE PAST post: FED'S KASHKARI: IT IS POSSIBLE THAT HOUSING MARKET RESILIENCE MEANS THE NEUTRAL RATE HAS BEEN PUSHED HIGHER, AT LEAST IN THE SHORT TERM. post: FED'S KASHKARI: I QUESTION POLICY RESTRICTIVENESS, GIVEN THE INFLATION DATA. post: KASHKARI: FED MUST SET POLICY BASED ON SHORT-RUN NEUTRAL RATE
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post: FED'S KASHKARI: TOO SOON TO DECLARE WE ARE STALLED OUT ON INFLATION. post: FED'S KASHKARI: IF WE NEED TO HOLD RATES FOR AN EXTENDED PERIOD, OR RAISE RATES, WE WILL DO THAT. post: FED'S KASHKARI: INFLATION WHERE IT IS NOW IS NOT THE NEW NORMAL; THE FED WILL ACHIEVE 2% INFLATION post: KASHKARI: RATE CUT THIS YEAR IS STILL A POSSIBILITY
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podcast Over the first two decades of the currency union, labour productivity (output per worker) in the euro area has been weak, at least when compared to other advanced ...
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Bank of Japan Governor Kazuo Ueda said after meeting with Prime Minister Fumio Kishida that he’s carefully watching the impact of the weak yen on prices and he discussed recent ...
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Japan may have to take action against any disorderly, speculative-driven foreign exchange moves, the government's top currency diplomat Masato Kanda said on Tuesday, reinforcing ...
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At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per ...
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Over the past few years, I have published a series of essays assessing where we are in our inflation fight and highlighting some important questions policymakers are facing. My most recent essay was in February of this year, where I questioned how much monetary policy was actually restraining demand. This essay is an update to that commentary, and I now examine the current stance of monetary policy in more detail.1 I will argue that the Federal Open Market Committee (FOMC) has tightened policy significantly, compared with prior cycles, both in absolute terms and relative to the market’s understanding of neutral. But I will also observe that the housing market is proving more resilient to that tight policy than it generally has in the past. Given that housing is a key channel through which monetary policy affects the economy, its resilience raises questions about whether policymakers and the market are misperceiving neutral, at least in the near term. It is possible that once the reopening dynamics of the post-COVID economy have concluded, the macro forces that drove the low-rate environment that existed before the pandemic will reemerge, pulling neutral back down. But the FOMC must set policy based on where neutral is in the short run to achieve our dual mandate goals in a reasonable period of time. The uncertainty about where neutral is today creates a challenge for policymakers. post: FED'S KASHKARI: HOUSING MARKET IS PROVING MORE RESILIENT TO TIGHT MONETARY POLICY THAN IT HAS BEEN IN THE PAST post: FED'S KASHKARI: IT IS POSSIBLE THAT HOUSING MARKET RESILIENCE MEANS THE NEUTRAL RATE HAS BEEN PUSHED HIGHER, AT LEAST IN THE SHORT TERM. post: FED'S KASHKARI: I QUESTION POLICY RESTRICTIVENESS, GIVEN THE INFLATION DATA. post: KASHKARI: FED MUST SET POLICY BASED ON SHORT-RUN NEUTRAL RATE
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post: Fed’s Kashkari: Most Likely Scenario is We Stay Put for Extended Period on Rates post: KASHKARI: JOBS REPORT FRIDAY WAS SOFTER THAN EXPECTED BUT NOT SOFT post: Fed’s Kashkari: in March I Jotted Down Two Rate Cuts for This Year; Possible Will Stay at 2, or Go to 1 or 0 Rate Cuts for June Sep post: FED'S KASHKARI: IF WE SEE A MARKED LABOR WEAKENING, IT COULD SPUR A CUT. post: KASHKARI: WOULD NEED TO SEE MULTIPLE READINGS ON INFLATION TO BE CONFIDENT TO CUT RATES
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After a whirlwind, (presumed) double-intervention week last week, the volatility in the Japanese yen was always going to decline this week as traders – and politicians! – digested the Bank of Japan’s dramatic moves. The biggest headline came from US Treasury Secretary (and former Federal Reserve Chairmwoman) Janet Yellen, who cryptically opined that the US ...
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The paths of inflationary trends between the two Antipodean countries have started to diverge in the past month. Forward-looking consumer inflation expectations in Australia have inched higher to 4.6% in April from 4.3% printed in March, its highest pace of increase since November 2023 amid elevated prices in services components. In contrast, New Zealand’s ...
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Retail FX and CFDs broker Capital.com has announced that total client trading volumes reached more than $1.2 trillion in 2023, or just north of $100 billion monthly. The company said that this is a rise of 53% from a year earlier, and marks the first time client trading volumes have breached the $1trn mark annually since the company’s inception in 2016. We ...