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: WALLER: PROBABILITY OF A RECESSION SEEMS TO HAVE DISAPPEARED post: Fed’s Waller: 10 Year Treasury Rate Has Risen; That’s Where You See Potential Effects on Tightening Fed’s Waller: Disconnect About How People Think About Speed of Rate Hikes Versus Expected Rate Cuts
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It is a great pleasure to be here at this event, hosted by the LSE’s Financial Markets Group in honour of Charles Goodhart. This evening, I am going to talk about central bank balance sheets and in particular the Bank of England’s balance sheet. An esoteric topic perhaps, but an important one, now more than ever. And it is a topic on which Charles has written extensively. Charles worked at the Bank for nearly two decades, of course, before his distinguished career as a professor here at the London School of Economics. His article “The importance of money”, published in the Bank’s Quarterly Bulletin in 1970 and available on the Bank of England’s website, was a milestone in the study of the predictability of money demand.footnote[1] At the time this was an important issue in debates over monetary control mechanisms and the relative merits of monetary ‘rules’ and policy ‘discretion’, a debate he masterfully summarised in his 1975 book on “Money, Information and Uncertainty”. In this and later work, Charles brought his deep understanding of the nature of financial markets, of banking and of monetary assets to bear, the historical perspective always present. In his 1988 book “On the Evolution of Central Banks” he discussed “how the role and functions of Central Banks have evolved naturally over time, and play a necessary part within the banking system”. Fast forward two more decades – acr post: BoE’s Bailey: We Think the Central Bank Balance Sheet Will Remain Larger Than Before the Financial Crisis Though Not as Large as Today post: BANK OF ENGLAND'S BAILEY: A RANGE OF 345-490 BLN STG IS NOT A BAD STARTING POINT FOR CENTRAL BANK BALANCE SHEET || BANK OF ENGLAND'S BAILEY: REPO PORTFOLIO CAN OFFER A RELIABLE AND FLEXIBLE SOURCE OF RESERVES AS LARGELY ADDITIONAL HIGH-QUALITY LIQUID ASSETS TO THE SYSTEM
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post: Fed’s Barr: Overall, US Economy Is Quite Strong - Still Need To Finish Job On Inflation - Need To ‘Sit Tight’ For Longer Than Previously Expected
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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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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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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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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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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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The Consumer Price Index (CPI) rose 2.7% on a year-over-year basis in April, down from a 2.9% gain in March. Broad-based deceleration in the headline CPI was led by food prices, ...
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This weekend, we discussed the primary factors that are making 2024 “The Year of the Metals.” Between growing industrial demand, slow-responding supply, desires for reserve diversification, and a shift back toward easing monetary policy, it sure feels like metals are well-poised to extend their gains. OF course, experienced traders know even the strongest ...
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Yesterday’s green gap withstood the selling pressure. Today, the bears replied with a red gap. Who will win this battle? Let’s take a closer look at the charts below. chart The first thing that catches the eye on the above chart is a red gap ($2,431.35-$2,438.50) created earlier today, which encouraged the sellers to act. Thanks to their action, gold ...
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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 ...