US House Judiciary Chairman Jerry Nadler and other House Democrats are pushing for “imaginary impeachment” proceedings against President Trump that “nobody in America” wants, House Minority Leader Kevin McCarthy declared Tuesday. “There are no facts for it,” the California Republican said in a TV interview. “Here is Nadler who campaigned to become chairman on the […]
UK Prime Minister Boris Johnson said Sunday the next few days will be key to his chances of securing a BREXIT deal, and that an agreement with the EU is his aim and still possible. With less than 7 wks remaining until Britain is due to leave the European Union, PM Johnson has yet to […]
$DIA, $SPY, $QQQ, $RUTX, $VXX With US-China trade tensions having roiled financial markets, investors are counting on support for stocks coming from a Fed willing to keep cutting interest rates to help the US economy avoid a severe downturn. A 1/4th pt rate reduction is expected when the FOMC issues its next policy statement this […]
Attention: Now what really matters is just what the President does and is going to do. President Trump blames the Fed for a slowing US economy, some blame it on him. A survey conducted with YouGov showed 28% of American adults believe the President in general is most responsible for the economy. That surpasses the […]
$DIA, $SPY, $QQQ, $RUTX, $VXX Wall Street finished higher on the strength in growth and value stocks President Trump met with economic aides Wednesday to discuss the possibility of cutting the tax on capital gains by indexing them to inflation His advisers updated on the issue, and a final decision on whether to pursue the […]
$XAU, $GLD $USD Russia and China are stockpiling gold, helping to drive the precious Yellow metal to its highest marks in more than 6 years. The People’s Bank of China has added about 100 tonnes of gold to its reserves since December. Russia has bought 106 tonnes bullion so far this year. “They can read the […]
China’s exports unexpectedly fell in August as shipments to the United States slowed sharply, pointing to further weakness in the world’s 2nd-largest economy and underlining a pressing need for more stimulus as US-China trade tension escalates. Beijing is widely expected to announce more support measures in coming weeks to avert the risk of a sharper […]
$XAU, $GLD, $USD, $XAUUSD Friday, Gold saw choppy trade. The price action suggests that traders have fully priced-in the latest round of global central bank rate cuts and are now waiting to see if those cuts are having an impact on the global economy. The price action also indicates that gold may be fairly priced […]
This tight US labor market is manifesting a booming demand in industries with an abundance of female workers is drawing more women back into the workforce, helping to shrink the longstanding gap in the labor participation rate between men and women to the narrowest on record a report showed Friday. Other parts of a report […]
$DIA, $SPY, $QQQ, $RUTX, $VXX The stock market finished mixed Friday; the S&P 500 (+0.1%) and DJIA (+0.3%) closed just above unchanged, while the NAS Comp (-0.2%) and Russell 2000 (-0.4%) closed slightly lower. On Friday, Fed Chairman Jerome Powell said the most likely outlook for the US and world economy is continued moderate growth, […]
$DIA, $SPY, $QQQ, $RUTX, $VXX Thursday, US stocks spiked on expectations of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks in early October, while at the same time strong US economic data eased fears of a domestic slowdown. The ADP National Employment Report, considered a precursor to the Labor […]
South Africa promised Thursday to tackle the prejudice fuelling a wave of deadly riots and xenophobic attacks, as international anger over the violence overshadowed a pan-African economic conference in Cape Town. President Cyril Ramaphosa said at least 10 people had been killed during the past week,2 were foreigners. “Our country has been deeply traumatised …by […]
US services sector activity accelerated in August and private employers boosted hiring, suggesting the economy continued to grow at a moderate pace despite trade tensions which have stoked financial market fears of a recession. The upbeat reports Thursday took some of the sting from data this week that showed the manufacturing sector contracted for the […]
$DIA, #SPY,, $QQQ, $RUTX, $VXX Wall Street posted mixed results on Friday on month end re-balancing ahead of a holiday weekend in which a fresh round of US tariffs on Chinese imports were set for levy. The DJIA .DJI rose 37.4 pts, or 0.14%, to 26,399.65, the S&P 500 .SPX gained 1.45 pts, or 0.05%, to 2,926.03 and the […]
Again Friday, President Trump hammered the Fed in 3 Tweets; declaring in 1 that the US economy does not “have a tariff problem, we have a Fed problem.” “The Euro is dropping against the dollar ‘like crazy,’ giving them a big export and manufacturing advantage … and the Fed does NOTHING!” President Trump said in 1 […]
Europe’s BREXIT drama is fast moving to a new climax, threatening to sow chaos for businesses just as a large part of the European continent is headed to recession. A disorderly exit is a worst-case scenario that both sides have been trying to avoid since the BREXIT vote 3 years ago, and many experts now […]
French President Emmanuel Macron is still calling for a new global economic order, decrying an “unprecedented crisis” in the market economy in an attempt to become the leader of the EU, a failed socialist experiment that is falling apart. Amid what he calls the uncertainty of US trade policies, Mr. Macron said the market economy […]
President Trump has threatening to use the emergency authority granted by a powerful federal law to make good on his Tweeted “order” to US businesses to cut ties in China because of the escalating trade dispute between the 2 nations. China’s announcement Friday that it was raising tariffs on $75-B , nothing in a $32-T […]
US Treasury Secretary Steven Mnuchin said Sunday all leaders gathered at the G7 Summit in France are talking about the US economy as “the bright spot in the world.” In a TV interview Sunday Secretary Mnuchin said the leaders at the G-7 meeting want to “replicate” the economic policies of President Trump and his administration. […]
Squabbles erupted among G7 nations Saturday as their leaders gathered for an annual summit, exposing sharp differences on global trade tensions, Britain’s exit from the EU and how to respond to the fires raging in the Amazon rainforest. French President Emmanuel Macron, the summit host, planned the three-day meeting in the Atlantic seaside resort of […]
Major Asia Pacific markets rose by the close on Friday, as investors looked ahead to an important speech from U.S. Federal Reserve Chairman Jerome Powell later in the day. In Tokyo, the Nikkei 225 index gained 82.9 points, or 0.4%, to end the week at 20,710.91 Elsewhere, the Japanese yen traded at 106.64 versus the […]
U.S. unemployment benefit claims drop to lowest level since ’69. The number of Americans filing for unemployment benefits dropped to the lowest level in nearly half a century. The number of Americans filing applications for unemployment benefits decreased sharply last week, suggesting the labour situation south of the border market was holding firm despite a […]
$XAU $GLD $USD Friday, gold marked fresh 6-year high after the US-China dispute intensified and Fed Chairman Powell said the US economy faces “significant risks” from slowing global growth. Gold climbed after China announced it will impose additional tariffs in retaliation for President Trump’s latest planned tariffs. President Trump then said he would respond to […]
$SPY China’s announcement that it will impose new tariffs on $75-B worth of US goods is not something that should worry the stock market, but the announcement will boost support for President Trump, White House trade adviser Peter Navarro said Friday. “I think the risk here for China when it does things like this is simply to […]
The White House will not move forward with plans to cut billions of dollars in foreign aid, US officials said yesterday, after an outcry from Congress about what was seen as an attempt to sidestep lawmakers’ authority over government spending. President Donald Trump said he was considering scaling back the effort to cut aid on […]
Some of the Irish businesses most exposed to the risk of Britain crashing out of the European Union in 10 weeks are not very well prepared, Ireland’s government warned yesterday. The Irish economy is considered the most vulnerable among EU members to Brexit, with employment-heavy industries in rural areas among those relying most on doing […]
German Chancellor Angela Merkel warned Wednesday of the economic impact of a chaotic no-deal Brexit, hours before she was to receive British Prime Minister Boris Johnson on his first foreign visit. ‘The economic sky is not cloudless’, and global tensions and Britain’s impending departure from the European Union ‘are already causing us headaches’, Merkel told […]
$USD Thursday, President Trump said U economic growth could be record-setting if the Fed would lower interest rates further, as econ reports Thursday painted a mixed picture of the nation’s economy. “The Economy is doing really well. The Federal Reserve can easily make it Record Setting,” President Trump said on Tweeted. The government Thursday said initial claims […]
Wednesday, President Trump continued his pressure the Fed and its Chairman to lower interest rates, saying its policies were hampering US growth and reducing the country’s ability to compete economically. “Doing great with China and other Trade Deals. The only problem we have is Jay Powell and the Fed. He’s like a golfer who can’t […]
The Planning and Statistics Authority’s recently released data shows 51% general increase in July 2019 in number of building permits issued when compared to June this year. The Planning and Statistics Authority (PSA) published the fifty-fifth issue of the monthly statistics of Building Permits and Building Completion certificates issued by all municipalities of the […]
Iran’s non-oil exports to Turkey have increased remarkably, while the energy trade between two countries also grows, Head of Iran-Turkey Chamber of Commerce Reza Kami told Trend. “The two countries have traded in all energy fields including electricity, oil and gas, that is a major part of bilateral trade volume,” he said. “Iran exports gas, […]
Sweetened beverages, sugary drinks and electronic smoking devices will be added into a list of excise taxable products by the United Arab Emirates (UAE). Effective January 1st of next year, the move will be cutting the use of harmful products and adjust the behaviors of clients, a cabinet general secretariat statement assured. The UAE is […]
Traders and investors have been asking what is the “inverted yield curve”, this unusual bond market phenom came on briefly last week for the 1st time in over 12 years and shook Wall Street with talk that an economic downturn was imminent. Following a tweet from President Trump referencing the “CRAZY INVERTED YIELD CURVE!”, the […]
Russian President Vladimir Putin has called on Europe to seek common goals, “which look unachievable today but may become inevitable tomorrow,” Trend reports citing TASS. “As far as the outlook for creating a common Europe from Lisbon to Vladivostok is concerned, it is not our idea. General de Gaulle voiced it a while ago. He […]
Fed Chairman Powell opens the central bank’s annual Jackson Hole symposium Friday with a speech on the challenges for monetary policy. A deglobalization shock ignited by President Trump’s trade policy; super low interest rates, including $16.7-N in negative-yielding bonds; a never-ending presidential assault on the Fed; and a rising risk of a US and worldwide […]
Monday, President Trump stepped up his assault on the Fed, urging it to cut interest rates by a full percentage point to aid global growth while complaining the “dollar is so strong that it is sadly hurting other parts of the world.” “The Fed Rate, over a fairly short period of time, should be reduced […]
A no-deal Brexit on October 31 could cause food, fuel and medicine shortages. According to government assessments leaked to the press. Despite Prime Minister Boris Johnson ramping up preparations in his first weeks in office. Johnson ordered government departments to “turbo-charge” contingency planning after taking power on July 24. Promising “all necessary funding” beyond the […]
The Fourth Industrial Revolution is reshaping the world of work. While policymakers in the West are struggling to respond, the task facing African governments appears even more daunting. In navigating the challenges and opportunities of the digital age, the continent’s policymakers must be willing to adapt and experiment. Most of today’s developed countries, and those […]
Global stock markets rose on Friday as investors put economic growth fears and trade jitters to one side, deciding that they had had enough drama and losses for one week. “We’re ending a turbulent week on a more positive note as exhausted traders the world over head into the weekend in a more buoyant mood,” […]
White House officials pushed back yesterday against concerns that economic growth may be faltering, saying they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States. ‘There is no recession in sight, White House economic adviser Larry […]
The term globalization encompasses a range of social, political, and economic changes. Some disciplines including anthropology or sociology focus on cultural changes of growing interconnectedness, such as the expansion of brands like Nike and McDonalds, and the networked world through social media. Other disciplines such as economics track the exchange of finances, goods and services […]
One month into Deutsche Bank AG’s boldest restructuring effort yet, the world has turned against chief executive officer Christian Sewing. Or at least, Germany has. Fears of an economic recession and the spectre of even lower interest rates have taken a toll on banks across Europe. But for Sewing, who just pinned his bank’s future […]
Japan’s politically sensitive trade surplus with the United States grew more than 15 percent in July, data showed Monday, as negotiators from the two economic powerhouses prepare to restart talks over a free trade deal. According to Japanese finance ministry statistics, the trade surplus with Washington climbed to 579.4 billion yen ($5.5 billion) last month, […]
Sunday, President Trump said the economy is “doing very well” and dismissed concerns of recession, offering an optimistic outlook after last week’s dip in the financial markets. “I don’t think we’re having a recession,” President Trump told reporters as he returned to Washington from his New Jersey golf club. “We’re doing tremendously well. Our consumers […]
Treasurer Josh Frydenberg has issued a timetable for the government’s dealing with the recommendations from the royal commission into banking, superannuation and financial services, which aims to have all measures needing legislation introduced by the end of next year. The opposition has accused the government of dragging its feet on putting into effect the results […]
New machines popping up in Russian shopping centres seem innocuous enough — users insert their passport and receive a small loan in a matter of minutes. But the devices, which dispense credit in Saint Petersburg malls at a sky-high annual rate of 365 percent, are another sign of a credit boom that has authorities worried. […]
$DIA, $SPY, $QQQ, $RUTX, $VXX This week’s trade has been headlined by the yield-curve inversion theory, where the yield of shorter-dated debt rises above its longer-term counterpart. On Wednesday, the yield 10-yr T-Note rate briefly fell below the 2-year T-Note a condition that has sometimes been a recession indicator. The degree to which investors have crowded […]
China’s economy has grown to dwarf Hong Kong’s since 1997, but the mainland remains deeply dependent on the crisis-stricken city as its primary economic gateway to the world. The global financial hub has been shaken by 10 weeks of pro-democracy protests which could have an impact worse than the 2008 global economic crisis, Hong Kong […]
At its meeting today, the Board decided to leave the cash rate unchanged at 1.00 per cent. The outlook for the global economy remains reasonable. However, the increased uncertainty generated by the trade and technology disputes is affecting investment and means that the risks to the global economy remain tilted to the downside. In most advanced economies, […]
Singapore further cut its annual growth forecast on Tuesday as the escalating US-China trade war hammers exports, in another ominous sign for Asia’s trade-reliant economies. The government said it expected growth of 0.0-1.0 percent this year, sharply down from the 1.5-2.5 percent previously estimated, marking the second downward revision this year. The economy expanded 3.2 […]
Wednesday, President Trump said the Federal Reserve must cut rates “bigger and faster” for the United States to be competitive against other countries. The stock market reversed and finished mixed with a Very Bullish bias. Wall Street likes cheap money “Our problem is a Federal Reserve that is too proud to admit their mistake of […]
$USD The experts, the President, the IMF all say the USD is too strong in here, but managed money say it has room to run North. So, when will the Dollar Bulls turn to Bears? Since the trade dispute between the world’s 2 largest economies came to life in March last year, USD has gained […]
$XAU While money does not grow on trees per se, we have discovered that gold does. Scientists have revealed that gum trees from the Western Australian goldfields draw up tiny particles of gold via their roots and it ends up in their leaves and branches. The study published in Nature Communications recently providing the 1st evidence of […]
FLASH: Chinese side confirmed their commitment to increase purchases of United States agricultural exports. The US and Chinese negotiators wrapped up a round of trade talks on Wednesday with visible signs of progress and scheduled their next meeting in September in Washington, DC. Both sides issued brief statements after the 1st face-to-face meetings since President […]
$DIA, $SPY, $QQQ, $RUTX, $VXX The FOMC cut interest rates as widely expected Wednesday, but Chairman Powell said he did not view the move as the start of a lengthy series of rate cuts. Fed Chairman Powell cited global weakness, trade tensions and a desire to boost too-low inflation in explaining the central bank’s decision […]
Monday, President Trump pushed the Fed to cut interest rates as policy makers ready for their decision this month on whether to do so. “Very inexpensive, in fact productive, to move now,” President Trump Tweeted Monday. “The Fed raised & tightened far too much & too fast.” The President has been attacking the Fed for more […]
$SPY The US stock market finished lower last week on relatively low volume and volatility. Perhaps it was the pre-conceived negative earnings expectations due to reports released before the results season started that fueled the lackluster price action. Perhaps it was options expiration. Uncertainty over the size of the expected Fed rate cut at the […]
The Fed’s FOMC is set to cut interest rates by at least 25 basis points at its policy meeting at the end of this month. Will it settle on a cautious approach or be aggressive to monetary easing despite political pressure for deeper stimulus is the Big Q. There is a case for an aggressive […]
White House senior adviser Jared Kushner planning to travel to Jerusalem and several other capitals in the Middle East next week to talk about moving forward with the Trump administration’s Israeli-Palestinian peace plan. Sunday, it was reported the trip will be important for both the economic and political components of the plan. The timing for unveiling […]
FLASH: Fed policymakers need to add stimulus early to deal with too-low inflation when rates are near zero and cannot wait for economic disaster to unfold, a Key Fed policymaker said Thursday. In what will likely be read as a strong argument in favor of quick action by the Fed to cut rates this month, […]
$DIA, $SPY, $QQQ, $RUTX, $VXX FLASH: Stocks push to session highs following Dovish comments from NY Fed President Williams The DJIA could go over 30,000 sooner than many financial experts anticipate, if the Fed cuts interest rates at the end of this month and if House Speaker Nancy Pelosi (D-CA) puts the United States-Mexico-Canada trade […]
FLASH: President Trump said again that he could impose additional tariffs on Chinese imports if he wants, after promising to hold off on more duties in a trade dispute truce he reached with China’s Xi last month. “We have a long way to go as far as tariffs where China is concerned, if we want. […]
$DIA, $SPY, $QQQ, $RUTX, $VXX The gauge of equities finished flat to unchanged Tuesday, as US Treasury yields moved higher on a stronger-than-anticipated report on US retail sales raised the possibility the Fed might adopt a less Dovish stance. The S&P 500 lost 0.3% Tuesday, led lower by shares of energy and technology companies, while […]
$F, $GM, $FCAU, $TM FLASH: America is open for business. US manufacturing output accelerated in June, climbing for the 2nd month running, thanks in large part to increased production of motor vehicles and parts. The Federal Reserve said Tuesday manufacturing production rose 0.4% last month, above the 0.2% expected by analysts in a poll. The June numbers […]
We have just learned that the Fed is debating the risks and benefits of letting the US economy run “a little hotter,” balancing the good it could do for workers against the possibility it could end in a recession, Atlanta Federal Reserve bank president Raphael Bostic said Tuesday. “We do think about this in terms […]
$SPY The S&P 500 has seen the best June performance since Y 1955, and now into the 2nd week of July investors are anxious to see whether earnings can justify further gains as the largest US companies open their books in the coming weeks, as Q-2 earnings season is on us. The profit picture for […]
President Trump wants the Fed to lower interest rates at a time when he may be sizing up his 2 latest picks for Fed governor as successors to Chairman Powell. If the Fed “knew what it was doing” it would cut rates, President Trump told reporters before he boarded Air Force One back to DC […]
This strong economy has President Trump’s approval rating hitting a high point for his administration at 44% among adults and 47% among registered voters in the latest The Washington Post/ABC News poll. These ratings represent a 5-percentage-point uptick since April, when special counsel Robert Mueller’s investigative report was released. President Trump scores highest on the economy, with […]
Friday, President Trump reaffirmed his view that a Fed interest rate cut would help the US economy grow more quickly, and said Fed does not know what they are doing. Growth “would be like a rocket ship” if the Fed eased, President Trump told reporters at the White House Friday as he prepared to travel to […]
FLASH: President Trump, “The Economy Would Be ‘Rocket Ship’ If Fed Cut Rates” US job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Fed to cut interest rates this month. The Labor Department’s closely watched employment report on […]
$DIA, $SPY, $QQQ, $RUTX, $VXX Tuesday, a Fed policymaker expressed skepticism that an interest rate cut is the right move until there are more signs the economy is moving to a truly weaker path. “I prefer to gather more information before considering a change in our monetary policy stance,” Cleveland Fed President Loretta Mester said in […]
FLASH: President Trump declared the US is “winning” the trade war a day after reaching a truce with Chinese President Xi. On a visit to SKorea following the G-20 Summit in Japan, President Trump said at a news conference that the Federal Reserve “has not been of help to us at all” in his trade […]
What is in your carry-on is Key, as it is the bag that never leaves your side and holds everything you might need during a trip. Plus, on many airlines, it’s the only bag that flies free. So, before you take off, make sure you have these must-have items in your carry-on. 1. Hand Sanitizer […]
FLASH: Wednesday’s projections open the door for the Fed to lower rates in short order if the economy weakens, or US trade disputes with China and other nations escalate. Fed held interest rates steady Wednesday but signaled possible rate cuts of as much as half a percentage point over the remainder of this year, as […]
$GS, $CME Goldman Sachs (NYSE:GS) economists said they are skeptical of “insurance” US interest rate decreases from the Fed to forestall possible slowing in US economic growth due to global trade tensions. A surprise escalation in trade tensions between Washington and Beijing since May, together with low inflation, have spurred bets among traders the Fed […]
$DIA, $SPY, $SOX, $QQQ, $RUTX, $VXX Friday, President Trump sharply criticized Fed Chairman Powell in an interview aired Friday, blaming him for raising interest rates and damaging the US economy. “He is my pick, and I disagree with him entirely,” he said in an interview with ABC News that was filmed in the back of a […]
FLASH: The Second Chance Act giving Democrats nightmares. With their hopes for defeating President Trump in Y 2020 depending largely on turning out the black vote in its usual monolithic numbers, Democrats have been relentless in trying to paint The Trump Administration as evil for Black-Americans. But a report released this month by the U.S. Sentencing […]
$EURUSD FLASH: Last week, Fed Chairman Powell said, “…we will act as appropriate to sustain the expansion.” With those few words Chairman Powell took the strength out of the argument for a recession because the Fed is very powerful. And with the stock market rallying, President Trump threatening more tariffs on China, stocks are just […]
$DIA, $SPY, $SOX, $QQQ, $RUTX, $VXX FLASH: White House economic adviser Larry Kudlow predicts the US economy will maintain 3% pace without a China trade deal. “The US economy is very strong, I think we are in pretty good shape and I think we’ll maintain a 3% growth pace this year,” said Mr. Kudlow, who […]
U.S. employers are reporting the strongest nationwide hiring intentions in 13 years at +21%, according to the Q3 2019 ManpowerGroup (NYSE: MAN) Employment Outlook Survey.* The last time the survey of more than 11,500 employers reported an Outlook as high as +21% was in Q3 2006. Employers in all 13 industries report double-digit hiring intentions, suggesting […]
$DIA, $SPY, $SOX, Investors heavily exposed to US stocks just had their best week YTD. But the rebound has raised several questions related to market behavior, policy and economics. How they are answered will prove consequential not only for market prospects but for the global economy. And, notwithstanding the lack of decisive answers at this stage, […]
US consumer debt increased by the most in 5 months in April and topped estimates, suggesting more upbeat sentiment among Americans is supporting borrowing and spending. Total credit expanded $17.5-B from the prior month following an upwardly revised $11-B gain in March, Federal Reserve figures showed Friday. Revolving debt outstanding increased the most since November while non-revolving […]
Under President Trump the US economy is continuing to grow, despite a jobs report that showed job growth had slowed down sharply in May while wages rose less than expected. “We have had extraordinary job growth over the past couple of years, record job growth,” VP Mike Pence’s Chief of Staff Marc Short told reporters. “Unemployment is at a […]
A news report by China.org.cn on China’s attitude towards China-US trade friction. On June 2, China released a white paper titled “China’s Position on the China-U.S. Economic and Trade Consultations.” It reviewed the tortuous economic and trade negotiations between China and the United States over the past year, clarified China’s position on the subject, and addressed issues of common concern for various sectors of society and the […]
The number of Americans filing applications for unemployment benefits was flat to unchanged last week, suggesting the labor market remains on solid footing despite slowing economic activity. Initial claims for state unemployment benefits were flat to unchanged at a seasonally adjusted 218,000 for the week ended 1 June, the Labor Department said Thursday. Data for the prior […]
This month, the US economy has been growing for 10 years running, tying the record for the longest expansion ever. Many people, including journalists and policy makers, see this as a great achievement. “I see nothing to celebrate. On the contrary, I think they are measuring success the wrong way”, says Narayana Kocherlakota He says, […]
FLASH: The US economy will mark 10 years of expansion in July, the longest on record. Strong job gains have been a Key feature. After years no growth the US economy has made a huge comeback. The credit can only be given to President Trump’s promised rollback of the tax and regulatory schemes implemented from […]
$DIA,$SPY, $SOX, $QQQ, $RUTX, $VXX FLASH: The technology sector was the biggest boost to the S&P with a 3.3% advance, led by gains in Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) Wall Street’s 3 major indexes rallied Tuesday to clock their biggest one-day gains in five months after Fed Chairman Powell left the door open for a […]
$GLD, $XAU, $USD The world’s biggest bullion-backed ETF (exchange-traded fund) is getting focus. Holdings in SPDR Gold Shares (GLD) surged by the most in almost 3 years as the US-China trade dispute, signs of a slowdown, and speculation the Fed will cut rates combined to drive demand. Assets in the SPDR ETF jumped 16.44 tonnes, […]
New Zealand forecasts lower surpluses and higher debt in aims to deliver fiscal stimulus to a slow economy in a budget aimed directly at improving people’s well-being. The NZD was trading at 65.24 US cents at 5pm in Wellington from 65.11 at 7:50am. The trade-weighted index was at 71.98 points from 71.90. Prime Minister Jacinda Ardern has […]
As the Fed moves to cuts, the battle will now be joined with the RBA. We’ll need more stock market noise for the Fed to shift quickly to cuts but they are on the way, and the reserve bank of Australia looks its usual confused self around the Aussie outlook and which levers to pull, […]
$DIA, $SPY, $SOX, $QQQ, $RUTX, $VXX FLASH: Growing expectations for the Fed to cut rates to address slower growth and muted inflation; 2-yr yield drops 12 bpts to 1.83% . St. Louis Fed President James Bullard (FOMC Voter) said that slower economic growth could be sharper-than-expected due to the trade uncertainty. Mr. Bullard added that […]
$GLD, $XAU, $SLV, $USD, $GOLD, $NEM, $VXX FLASH: Gold is finally seeing some bullish momentum as trade ructions escalate, fueling the biggest rally among the top miners in seven months. President Trump’s plan to impose a 5% tariff on all Mexican goods over illegal immigration rattled financial markets, boosting the haven appeal of the precious […]
Saturday, Mexico’s President said he expects”good results” from talks planned in Washington about President Trump’s threat to impose tariffs on Mexican goods, and floated the possibility Mexico could tighten controls on migration. President Trump said he will apply the tariffs on 10 June if Mexico does not halt the flow of illegal immigration, largely from […]
FLASH: Optimism over the economy has boosted President Trump’s approval rating to the highest it has been in 2 years, according to a newly released Harvard CAPS/Harris Poll survey. Overall, the survey found that 48% of voters approve of the job President Trump is doing, while 52% said they disapprove. President Trump’s approval is up […]
$DIA, $SPY, $SOX, $QQQ, $RUTX, $VXX FLASH: 2 prominent Fed watchers said they now expect the central bank to cut interest rates this year as policy makers react to a darkening economic outlook. JPMorgan Chase & Co. (NYSE:JPM) chief US economist Michael Feroli and former Fed Governor Laurence Meyer both said the Fed will act […]
President Trump should intensify his trade battle with China by barring Chinese businesses from US capital markets and technology, his former White House chief strategist, Steve Bannon, said. ‘He has to go all the way; it’s not a trade war, it’s an economic war they’ve been running against the West,’ Mr. Bannon said in an […]
$XAU, $GLD, $USD Last week’s price action in gold indicates that buyers know where the value is, but the lack of conviction may be holding them back. This is likely because of the strong USD. But, if you look at the price action on 23 May, you will see just how powerful of an influence […]
Economist and author Art Laffer, the architect behind the Reagan tax cuts that ushered in an era of economic prosperity for a generation, said the Federal Reserve should read market signs of falling bond yields and lower short-term interest rates and slash short-term interest rates. The bond market is signaling an increasing likelihood of the […]
FLASH: Americans’ confidence in the job market in May hit the highest level in Gallup’s records, which date back to Y 2001. A recent Gallup poll found the following: Overall views of the economy remain positive. Over 7 in 10 Americans feel positively about the US job market. Employment optimism among workforce is highest since 2000. […]
