FOMC Minutes Revealed Rigorous Debate over Alternative Monetary Policy Tools
The FOMC minutes for the July meeting revealed that the members remained concerned about the outlook of economic recovery. They had discussed a number of tools for further easing, including forward guidance, asset purchases, and yield curve targets. Meanwhile, the...
Dollar Rebounds but Reversal Not Warranted Yet, Gold and Stocks Fall
Dollar staged a strong rebound overnight, reversing all of prior day’s losses. The uninspiring FOMC minutes were a lift in a way that it provided no dovish elements for further selloff. Yet, the greenback is kept well below near term...
Asia Morning: U.S. Stocks Retreat After Record Closes
On Wednesday, U.S. stocks ended in the red. The Dow Jones Industrial Average fell 85 points (-0.31%) to 27692, the S&P 500 dropped 14 points (-0.44%) to 3374, and the Nasdaq 100 was down 80 points (-0.71%) to 11318. Dow Jones Industrial Average: Daily Chart –...
Fed officials expect that coronavirus will ‘weigh heavily’ on the economy, minutes show
Federal Open Market Committee members expressed concern at their latest meeting over the future of the economy, saying that the coronavirus likely would continue to stunt growth and potentially pose dangers to the financial system. At the July 28-29 session,...
Waiting for that extra $300 weekly unemployment benefit? For thousands, it may never come
People wait for their numbers to be called at an unemployment event in Tulsa, Oklahoma, on July 15, 2020. Photo by Nick Oxford for The Washington Post via Getty Images Some workers got an extra $300 in unemployment benefits this...
First judgment on 1MDB and Najib: Who knew what and when?
This week former Malaysian prime minister Najib Razak was sentenced to 12 years in jail after being found guilty on seven corruption counts associated with 1MDB in the Kuala Lumpur High Court. He was also fined RM210 million ($49 million)....
Bulls Taking Care of Silver – Elliott Wave Analysis
Silver started trading bullish in March of 2020, and as we see price started unfolding an impulse. An impulse is a five-wave pattern, that moves within the current trend. In our case, this means to the upside. We can see...
USD/CAD Steady ahead of FOMC Minutes
The Canadian dollar is slightly lower in Wednesday trade, as USD/CAD has dropped 0.19% on the day. Currently, USD/CAD is trading at 1.3144, down 0.18% on the day. Earlier in the day, the pair touched a low of 1.3133, its...
Fed faces a ‘major challenge’ in making its new inflation strategy official, former governor says
The U.S. central bank will be faced with a delicate balancing act if it opts to embrace a more relaxed view on inflation, according to a former governor of the Federal Reserve. Comments on Wednesday by Randall Kroszner, who served...
Focus Turned to Swiss Franc Selloff While Dollar Stabilizes Mildly
Selling focus turns from Dollar to Swiss Franc today, which also drags down Sterling, and to a lesser extent Euro. Dollar stabilized a little bit but there is apparent strength for recovery yet. In particular, commodity currencies are generally stronger...
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