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The euro will likely continue to struggle against the dollar as weaker economic growth and a faster pace of deflation in the European Union could likely force the...
In its latest meeting, Fed Chair Jerome Powell signaled three rate cuts this year, citing expanding economic activity and easing but elevated inflation. Some ETFs are expected to soar if the Fed cuts the rate.
- The U.S. dollar rose marginally in European trade Thursday, rebounding after the previous session’s sharp losses after the Federal Reserve maintained its...
-- Most Asian currencies rose sharply on Thursday, while the dollar tumbled from two-week highs after comments from the Federal Reserve kept expectations of interest...
I’ve never met a rich trader who was obsessed with economic narratives being woven by the media. Instead of trying to predict the start or end of a trend, focus on what the market is telling you now and respond accordingly.
-- Japan’s manufacturing sector shrank less than expected in March, while the services sector grew at a faster pace, indicating some resilience in the economy as it...
-- Australia’s labor force grew substantially more than expected in February, putting unemployment back at a six-month low as a swathe of people returned to work from...
-- Japan’s exports grew more than expected in February, spurring a bigger-than-expected drop in the country’s trade deficit as demand in China and the U.S. remained...
According to PANews, the US Securities and Exchange Commission (SEC) is taking legal action to classify Ethereum as a security. This action involves issuing subpoenas to US companies, requiring them to provide all documents and financial records related to the Ethereum Foundation. The investigation began in September 2022 when the Ethereum blockchain transitioned to a new governance model called 'Proof of Stake'. Although the SEC has not commented on the matter, this move appears to be a significant review of the Switzerland-based Ethereum Foundation. This action could have far-reaching implications for the cryptocurrency industry, particularly in discussions about whether crypto assets are considered securities.
According to PANews, Federal Reserve Chairman Jerome Powell stated that the risks of achieving employment and inflation targets are being better balanced as the tense supply-demand relationship in the labor market eases. Inflation has significantly eased in the past year but remains above the Fed's set 2% long-term target, and long-term inflation expectations are still unstable. If appropriate, the Fed will maintain the federal funds rate target range at its current level for a longer period. Powell said that the Federal Open Market Committee believes it is 'inappropriate' to lower the target range before having confidence in inflation consistently moving towards 2%. However, the Fed has not yet gained the confidence to begin cutting interest rates from various data. Powell also mentioned that discussions took place during the meeting about slowing down the reduction of the balance sheet, and that it would be appropriate to slow down the pace of the reduction soon. Slowing down the reduction will ensure a smooth transition, alleviate pressure on the money market, and limit the risk of fluctuations in the money market.
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