Dollar appears to have finally taken a side, the downside, with Fed chair Jerome Powell’s Jackson Hole speech. In short, Fed is now adopting a “flexible form of average inflation targeting”, to achieve inflation that “averages 2 percent over time”. Therefore, following periods when inflation has been running below 2 percent, appropriate monetary policy will
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Tensions over the validity of a mail-in election are growing. “This is the greatest scam in the history of politics,” President Donald Trump declared in one of his appearances at this week’s Republican National Convention. “They’re going to mail out 80 million ballots. It’s impossible, they have no idea.” The president first mentioned the issue
Pedestrians are reflected in the window of an Abercrombie & Fitch store in New York. Craig Warga | Bloomberg | Getty Images Abercrombie & Fitch shares are soaring after the apparel retailer reported a surprise quarterly profit Thursday morning and impressive online revenue growth of 56% during the coronavirus pandemic. Its stock was recently trading up
Japanese messaging company LINE has launched a blockchain development platform called LINE Blockchain Developers for decentralized applications and services. The company has also launched a digital asset wallet named BITMAX that will allow users to centrally manage all the fungible and non-fungible digital assets they obtain from various blockchain services on the LINE Blockchain. LINE’s
Dow within 1% of unchanged on the year the S&P and NASDAQ index are closing at record levels once again with strong gains of over 1%. The NASDAQ outperformed with a 1.73% rise. The Dow industrial average was down earlier today but pushed to the upside and is closing within 1% of the closing level
Economists at Rabonank believe Brazil is going to see quarterly gains from the tirhd quarter while see the central bank taking a long pause. All in all, USD/BRl is expected to trade at 5.25 and 4.90 by end-2020 and end-2021 respectively. Key quotes “With better activity and Covid-19 outlooks, we now upgrade our 2020 GDP
Daily thread to exchange ideas and to share your thoughts Major currencies are keeping more quiet as the focus today is all about Fed chair Powell’s speech later at the Jackson Hole symposium. The trading ranges continue to be rather lackluster and may stay that way in European morning trade today. On the week, the dollar has
NEW DELHI: Gold and silver prices drifted lower in Thursday’s session as traders booked profits ahead of a speech by US Fed chairman Jeremy Powell. Meanwhile, a surge in equities also diverted funds from safe haven assets. Powell is set to speak at a virtual Jackson Hole symposium on Thursday, where he is expected to
Markets continue to be rather mixed as investors are awaiting Fed Chair Jerome Powell’s speech at the Jackson Hole symposium. S&P 500 and NASDAQ surged strongly overnight to new record highs. But Asian markets are mixed, with weakness seen in Japan, Hong Kong and Singapore. Dollar weakens broadly today but selling is so far not
Kansas City Federal Reserve President Esther George said the recession that began in February could revisit the economy if the coronavirus pandemic intensifies. “An important risk to that outlook is thinking about what happens as we come into the fall, whether we see any resurgence in the virus that would cause an additional pullback in
Nordstrom said Tuesday its net sales fell 53% during the second quarter, as its stores took a hit from being temporarily closed during the coronavirus pandemic, and its online business suffered due to a shift in timing of its annual Anniversary Sale. The company said its stores, including its off-price Nordstrom Rack locations, were closed for
Spartan Black, a major cryptocurrency fund based in Asia, believes Polkadot (DOT) has more fuel left in the tank and could soar in the top-10 list of biggest cryptocurrencies by market capitalization. Since listing on Binance eight days ago, the price of DOT soared by more than 200% and many analysts believe the price could
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Up $0.04 or 0.09% The price of crude oil futures settle that $43.39. That was good enough for a 4% gain or 0.09% rise. The high price for the day reached $43.78 while the low price extended to $43. Technically, the price close above its 200 day moving average for the 2nd consecutive day. That
S&P 500 continues to push higher toward 3,500. Salesforce.Com Inc (CRM: NYSE) surges to all-time highs on upbeat quarterly results. For the third straight day, Wall Street’s main indexes started the day little changed. However, the risk-on market environment on coronavirus treatment optimism provided a boost to stocks and the S&P 500 Index (SPX) touched
Tail -0.9 basis points The US treasury sold $51 billion of 5 year notes at a high yield of 0.298%. That was lower than the WI level of 0.307%. High yield 0.298% vs. WI at 0.307% Bid to cover 2.71x vs six-month average of 2.48x Dealers 17.82% vs. 27.8% six-month average Directs 15.93% vs. 13.6% six-month average Indirects 66.25% vs.