Getty Images Now that Federal Reserve officials have sent a clear message on their desire for higher inflation, the tough part is convincing the world that they can pull it off. For the past decade, the Fed has struggled to get inflation up to the 2% target it sees as consistent with a growing economy
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Former White House chief of staff under U.S. President Donald Trump Mick Mulvaney is running a hedge fund. Since 2014 Mulvaney has been recognized as a pro-Bitcoin (BTC) official, encouraging practical regulation of cryptocurrencies. The new fund called Exegis Capital was announced during a podcast with S&P Global Market Intelligence. Mulvaney would collaborate with former
Gold up $37 to $1966 Gold is back in the saddle today and on track to close at the best levels since Aug 18. It’s all about the dollar today as it trades off of that and Treasury yields. At the same time, you get the sense this is a market that’s really searching for
Gold looks north amid a favorable technical set up on 4H chart. A test of July high at $1985 is inevitable, with eyes on $2000. Weekly closing above 100-SMA on 4H chart boosts the bullish odds. Friday’s surge led Gold (XAU/USD) on the verge of a falling channel breakout on the four-hour (4H) chart, as the
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HOUSTON: US energy companies on Saturday continued to restaff offshore oil and gas production facilities in the US Gulf of Mexico, according to data released by the US Department of Interior. There were 122 facilities that were reoccupied as of midday, the data showed. Crude oil production was off 82%, or 1.5 million barrels per
As suggested in the CFTC Commitments of Traders report in the week ended August 25, NET SHORT for USD Index futures added +258 to 7 773 contracts. Speculative long positions declined -5 005 contracts and short positions fell -4 747 contracts. There can be more downside to greenback. Fed Chair Jerome Powell, at the annual
The Federal Reserve will have to keep supporting the economy as the recovery from the coronavirus pandemic “is going to be a slow one,” a top official at the central bank said Friday. “There’s more pain out there that we’re going to have to support the economy through,” Loretta Mester, president of the Cleveland Fed,
A blockchain phone is not something many would have thought of even a few years ago. Even around three years ago when the remarkable cryptocurrency bull run had just started off, it was still looked upon as a novelty, and not many had a lot of ideas about what it could eventually become. At the
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Cable breaks out Cable edged above the August range yesterday but has redoubled the effort today in a nearly 150 pip surge. The rally broke above the monthly high and the January high, which means the pair is now in the green year-to-date. It’s been an impressive turnaround and even moreso given that the BOE’s
EUR/USD trades 0.69% higher on Friday and looks like it will close 0.89% higher on the week. The monthly chart shows the price is heading to some key levels. EUR/USD monthly chart EUR/USD has had an impressive run of late but on Friday it was some of the other major counterparts that outperformed against the
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
MELBOURNE: Oil prices fell in early trade on Friday as a massive hurricane raced inland past the heart of the US oil industry in Louisiana and Texas, with a storm surge weaker than predicted. US West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.4 per cent, to $42.85 a barrel as of 0014
All commodity futures under our coverage were in net speculative long positions last week. NET LENGTH in natural gas futures rose the most as hurricane Laura had raised concerns about supply, outweighing demand worries. NET LENGTH in crude oil futures declined, although price slowly climbed higher. Gold’s NET LENGTH dropped further as price remained in
U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless. The July gain marked the third straight monthly increase in consumer spending, the primary driver of the