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Dollar dives as Trump reportedly set to fire Fed Powell imminently – Action Forex
Quick update: Trump was swift in denying the news. “We’re not planning on doing it,” he said. “It’s highly unlikely.” Dollar reversed earlier gains and fell sharply after reports emerged that US President Donald Trump is preparing to fire Fed Chair Jerome Powell “very soon”. The move would spark a dramatic clash over the independence…
Immigrants are unsung heroes of global trade and value creation
By Bedassa Tadesse, University of Minnesota Duluth and Roger White, Whittier College In nearly every country that hosts foreign-born citizens, immigration emerges as a lightning rod for controversy. The economic realities of immigration, however, are far more complex than the negative sound bites suggest. Far from being a burden, as critics claim, immigrants play pivotal…
Russia eases forex sales requirements for contracts in roubles By Reuters
MOSCOW (Reuters) – The Russian government has softened requirements for mandatory sales of foreign currency for exporters if more than half of the value of their contracts is paid in roubles, according to changes to a government decree. President Vladimir Putin signed the decree in October mandating the reintroduction of capital controls, affecting dozens of…
EUR/USD rises as German GDP beats forecast – MarketPulse
The euro is up for a third straight day on Wednesday. In the European session, EUR/USD is trading at 1.0839 at the time of writing, up 0.20% on the day. Germany’s GDP for the third quarter surprised on the upside with a modest 0.2% gain. This was above the -0.1% reading in the second quarter…
