The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against…
Dominic Raab received a near-£17,000 ministerial payout on resigning as justice secretary in 2023 after an official report found he had acted in an “intimidating” manner towards civil servants, newly published accounts have shown. Raab, who opted to not contest his Esher and Walton seat in Surrey in the general election, was paid £16,876 as…
After a two-year legal battle involving claims of fraud, a lawsuit accusing Elon Musk and Tesla of manipulating meme cryptocurrency dogecoin (DOGE) is ending. Investors who brought the case, alleging that Musk was causing the cryptocurrency’s price swings through tweets and public stunts, have now withdrawn their appeal, Reuters reported. This follows a court dismissal…
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Peers have said the government is failing to deal with a miscarriage of justice akin to the Post Office scandal, after ministers refused to back legislation that would give new sentences to thousands of prisoners jailed indefinitely. James Timpson, the prisons minister, said the 2,964 people currently serving indeterminate sentences would in future have a…
US Dollar Index rally continues and the impact of a strong US dollar on global markets. Examining upcoming PMI data from the Euro Area and UK CPI figures, and their potential market implications. Assessing the likelihood of further rate cuts by the Federal Reserve and the Bank of England. Providing insights on market trends and potential…
In the ever-evolving world of forex trading, one thing is clear—automated trading systems are no longer just a trend. These systems are fundamentally reshaping how traders interact with the market. As technological advancements continue to progress, automated trading systems are helping traders achieve faster, more efficient, and precise execution of trades. At their core, these…
Next Week’s Menu: November 16-22, 2024 November 15, 2024 Central Banks: Monetary policies will be reviewed in China, Indonesia, Iceland, Turkey, Hungary and South Africa. Guindos and Schnaebel of the European Central Bank and Collins and Hammack of the Federal Reserve are some of the monetary officials with public speaking engagements in the period. Special…
The financial regulator has been ordered to encourage more risk-taking across the City, raising concerns that the Labour government is in danger of watering down rules meant to avoid another financial crisis. In an official “remit” letter addressed to Financial Conduct Authority (FCA) boss, Nikhil Rathi, the chancellor, Rachel Reeves, said regulations meant to protect…
U.S. stock futures dropped early Friday as the postelection rally showed signs of faltering and the Federal Reserve indicated a cautious stance on further interest rate cuts. Dow Jones Industrial Average futures fell 156 points, or 0.36%, while S&P 500 and Nasdaq 100 futures declined 0.51% and 0.76%, respectively. Tech stocks saw mixed fortunes, with…