Forward guidance doesn’t always map the route
After the financial crisis rocked the framework of monetary policy, rate setters took to giving “forward guidance” to steady the ship, but the recent experience of British and Japanese central banks suggests it doesn’t guarantee a smooth journey. Just a...
Your first trade for Friday, May 11
The “Fast Money” traders shared their first moves for the market open. Tim was a buyer of the iShares MSCI Brazil ETF. Karen was a buyer of Xerox. Seaburg was a buyer of Facebook. Grasso was a buyer of Overstock.com....
Canadian Dollar Lower after Employment Miss, But US Dollar Even Worse
Canadian dollar drops broadly as employment data missed market section. While it’s trading as the weakest one for today, the movement in USD/CAD is rather muted. That’s because focus is turning to the greenback again as selling gathers momentum. Weakening...
Russia’s crimes against banking
In most assessments of the wrongdoings of the current Russian government, crimes against banking would be fairly far down the page. Nevertheless, the determination of president Vladimir Putin’s people to treat Russia’s biggest banks as their political playthings is worthy...
US needs to pressure foreign countries to pay more for drugs with trade agreements, HHS’ Azar says
The U.S. needs to get other governments to pay more for prescription drugs through trade negotiations and agreements, Health and Human Services Secretary Alex Azar told CNBC on Friday. The comments came ahead of a blueprint President Donald Trump will...
US import prices rise less than expected in April
U.S. import prices increased less than expected in April as a rebound in the cost of petroleum products was tempered by a decline in food prices. The Labor Department said on Friday import prices rose 0.3 percent last month. Data...
Huawei adds a bitcoin wallet to its app store even as China cracks down on trading
Huawei has released a bitcoin wallet on its app store for the first time, allowing Chinese consumers to hold virtual currencies even as Beijing steps up regulation on the nascent industry. The Shenzhen-based Chinese smartphone maker has teamed up with...
The Fed is raising rates due to a ‘fear of what might be in the pipeline,’ economist warns
A fear of runaway price rises rather than current economic data is driving the Federal Reserve’s commitment to raise rates in the United States, according to one economist. U.S. core inflation crept 0.2 percent higher in April, according to fresh...
Barclays CEO fined $870,000 for trying to identify whistleblower
British regulators have fined Barclays Chief Executive Jes Staley 642,430 pounds ($870,428) for breaching conduct rules by attempting to identify who sent letters criticizing an employee of the bank, they said on Friday. The fine from the Financial Conduct Authority...
Country risk: Asia more resilient than volatility suggests
China appears to be responding effectively to the cracks in its economy The palpable sense of foreboding causing wobbly currencies and downgraded asset valuations in recent weeks is not without foundation. With global economic growth prospects hinging on US-China trade...
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