Metals News
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Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one of the largest insider trading scandals on Wall Street, has died at the age of 87. His daughter Marianne Boesky told The New York Times on Monday that he died in his sleep, and his wife confirmed Boesky’s death to The Washington Post. No cause of death was ...
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A California city removed the traffic lights from a four-way intersection as the city grapples with thefts attributed to a massive homeless encampment nearby. Oakland has been experiencing high crime and theft, including people stealing copper wires and the city’s infrastructure, according to locals who spoke to CBS News. The city attempted to thwart ...
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Technical analysts use the Relative Strength Index (RSI) as a momentum indicator. In order to determine whether a security’s price is overvalued or undervalued, it analyses the rate and magnitude of recent price fluctuations. Developed by J. Welles Wilder Jr., the RSI is represented as an oscillator on a scale from zero to 100. It was first published in his ...
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post: Bostic: Expecting Inflation to Decline but “Relatively Slowly,” Would Not Expect a Rate Cut Before the Fourth Quarter Bostic: Fed’s Highest Priority is to Get Inflation Back to 2% post: Bostic: “I Am Not in a Hurry” to Cut Rates; Want to Make Sure That Policy Easing is “Unambiguous” Bostic: Would Rather Wait Longer for a Rate Cut to Be Sure Inflation Does Not Start to Bounce Around post: BOSTIC: CAUTION NEEDED ON FIRST CUT, STILL BACKS ONE IN Q4
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Headlines once again struggle to keep track of gold's performance. Publications from Saturday mention how gold hit a new ATH of $2,417, but the metal has since moved to $2,440. Besides a display of resilience above $2,400, it appears to also be signaling a desire to move to $2,500. Analyst consensus is that gold will attempt to make the move this week. How ...
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Rangebound trading continues in the oil market despite recent developments in the Middle East and the strength seen in other parts of the commodity complex- specifically metals. As the market waits for clarity from OPEC+ on its output policy for the second half of the year, there are some signs of weakness in the market. Refinery margins have been trending ...
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The ICC prosecutor’s application for arrest warrants against Israeli leaders is outrageous. And let me be clear: whatever this prosecutor might imply, there is no equivalence — ...
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U.K. inflation could be about to hit a major milestone, with some forecasting that a sharp fall in the April print will take the headline rate below the Bank of England’s 2% ...
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Statistics Canada is set to release its April consumer price index report Tuesday morning. Economists expect Canada’s annual inflation rate fell slightly last month from 2.9 per ...
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post: Bostic: Expecting Inflation to Decline but “Relatively Slowly,” Would Not Expect a Rate Cut Before the Fourth Quarter Bostic: Fed’s Highest Priority is to Get Inflation Back to 2% post: Bostic: “I Am Not in a Hurry” to Cut Rates; Want to Make Sure That Policy Easing is “Unambiguous” Bostic: Would Rather Wait Longer for a Rate Cut to Be Sure Inflation Does Not Start to Bounce Around post: BOSTIC: CAUTION NEEDED ON FIRST CUT, STILL BACKS ONE IN Q4
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Thank you, Adam, and thank you for the opportunity to speak to you today.1 The Peterson Institute is renowned for its valuable contributions to research and its influence on economic policy. There really is no better place for a central banker to come and talk about the outlook for the U.S. economy and the implications for monetary policy. It truly is a pleasure to be here. Peterson was also the host for my first speech as a governor back in early 2021, which unfortunately, was virtual.2 So, after an eventful three years, it's nice to be back and in person. After a run of great data in the latter half of 2023, it seemed that significant progress on inflation would continue and that rate cuts were not far off. However, the first three months of 2024 threw cold water on that outlook, as data on both inflation and economic activity came in much hotter than anticipated. Initially it seemed like the bad data might be simply a "bump" in the road, but as the data continued to point in the wrong direction, the narrative quickly turned towards concerns that the economy was not cooling as needed to keep inflation moving down toward the Federal Open Market Committee's (FOMC) 2 percent goal. Progress on inflation appeared to have stalled and there were fears that it might even be accelerating. Suddenly, the public debate became whether monetary policy was restrictive enough and if rate hikes should be back on the table. But more recent data on the economy indicate that restrictive monetary policy is helping to cool off aggregate demand and the inflation data for April suggests that progress toward 2 percent has likely resumed. Central bankers should never say never, but the data suggests that inflation isn't accelerating, and I believe that further increases in the policy rate are probably unnecessary. Now let me turn to the data we have post: Fed’s Waller: Credit Card and Auto Loan Delinquency Rates Suggests Some Consumers Under Stress Fed’s Waller: Will Be Closely Watching How Private Domestic Final Purchases Fares Into Second Quarter Waller: Economy Seems to Be Evolving Closer to What the Fed Expected post: Fed’s Waller Says He Needs to See Several More Months of Good Inflation Data Before Being Comfortable to Support an Easing in Policy Fed’s Waller: April Inflation Data Suggests Progress Toward 2% Target Has Likely Resumed, but Progress Was Modest post: WALLER: INFLATION 'NOT ACCELERATING,' RATE HIKE ISN'T NECESSARY
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The first estimates of euro area balance showed a €24.1 bn surplus in trade in goods with the rest of the world in March 2024, compared with +€19.1 bn in March 2023. The euro area ...
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The silver market initially shot higher in the early hours on Monday, reaching the $32.50 level before collapsing again. At this point, I think we have a lot of different things moving the market at the same time, and you have to be very cautious about what you're doing here. Silver is overbought and even hit well above the 70 level on the relative strength ...
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The US dollar index crept higher alongside US yields on Monday ahead of Wednesday’s FOMC minutes, which saw AUD/USD form a bearish outside day after another false break of 67c NZD/USD also formed a bearish outside day, USD/JPY and USD/CHF rose for a third day – although the moves appear to be more on the general flow of markets as opposed to being driven by ...
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Gold prices hit an all-time high of $2,448.80/oz. on April 12, 2024, on the back of hotter-than-expected NFP, sticky inflation and rising geopolitical risk. These factors attracted inflow of funds as shown by increasing managed money long positions to around two-year high. Despite the pullback towards the end of the month as profit-taking and U.S. dollar ...