Metals News
-
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 ...
-
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 ...
-
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 ...
-
The sudden death of Iranian President Ebrahim Raisi has the world asking who’ll eventually replace him as the Islamic Republic’s de-facto no. 2. For now, that job falls to Mohammad Mokhber, Raisi’s first vice president and deputy since 2021. The question is if he’ll serve as a placeholder president or instead stake out a bigger role for himself. Seen as ...
-
UK policy rate decision scheduled for 20 June will be influenced by two upcoming inflation reports. Current consensus and market pricing indicate a 60% probability of a rate cut. However, this decision remains a close call, contingent on the data from these two inflations releases. Recent macroeconomic data for the UK economy have shown some softening in ...
-
A BUMP in price and revised structure will be enough to tip Anglo American shareholders into accepting BHP’s takeover proposal, according to a report on Sunday. The Sunday Telegraph cited an unnamed a top 15 Anglo shareholder as saying it would be inclined to accept a £30 to £31 per share offer for the company, valuing it at more than £37/share. But ...
-
China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become ...
-
Government debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of worry both on Wall Street and in Washington. The federal ...
-
Iranian President Ebrahim Raisi and his foreign minister died when their helicopter crashed as it was crossing mountain terrain in heavy fog, an Iranian official told Reuters on ...
-
Thank you, Mark, for the kind introduction, and good morning to all of you.1 I am happy to be here. Today, I will do three things. First, I'll share with you my current outlook for the US economy. Second, I'll discuss my thinking on the current stance of monetary policy. Third, I'll review the dynamics of housing prices which can feed into the persistence of inflation. My focus on housing price dynamic stems from the role housing plays in the American economy. For most families, a home is their largest-ever purchase and their most valuable asset. Capital markets professionals in real estate finance, like you, are crucial to the smooth operation of the housing sector. Families making housing decisions rely on a healthy and productive housing finance sector. The housing sector is also one of the most interest rate–sensitive sectors of the economy. As such, it's an important channel of monetary policy transmission. Understanding the various channels of monetary transmission is crucial to fulfillment of the dual mandate given to the Federal Reserve by the Congress: maximum employment and stable prices. This mandate guides my thinking about monetary policymaking. With that, I'll turn to my outlook for the US economy. Aggregate Economic Activity The U.S. economy continues to grow at a solid pace. Adjusted for inflation, GDP was reported to have increased at a 1.6 percent annual rate in the first quarter of 2024. That was a moderation from a 3.4 percent expansion in the fourth quarter of last year. However, private domestic final purchases—which excludes inventory investment, government spending, and net exports and usually sends a clearer signal on underlying demand—grew 3.1 percent in the first quarter. That was about as strong as the second half of 2023. post: Fed's Jefferson: Policy Rate is in Restrictive Territory Jefferson: April’s Better Inflation Reading is Encouraging Jefferson: Long-Term Inflation Expectations Show Americans Believe Fed Will Make Good on 2% Inflation Goal
-
post: FED'S MESTER: MONETARY POLICY IS RESTRICTIVE. post: Mester: April CPI Report Was Good News, but Too Soon to Tell What Path Inflation’s on Mester: Inflation Progress Stalled in First Three Months post: FED'S MESTER: RISKS THAT WE'RE TOO RESTRICTIVE HAVE GONE DOWN. post: Mester: Inflation Risks Are Tilted to Upside Mester: I Don’t Think About Potential Rate Cut in Terms of When post: FED'S MESTER: THERE'S NO RISK IN SPENDING MORE TIME GATHERING DATA ON INFLATION BECAUSE THE ECONOMY IS STRONG.
-
Sr. Technical Strategist Michael Boutros (@MBForex) highlights the targets & invalidation levels that matter on the technical charts into the weekly open.
-
The big rally on precious metals have continued at the start of the new week, with silver yet again outperforming. Both metals eased off their highs amid profit-taking and were back to the flat line around midday in London. Still, the white metal is up a good 35% so far in 2024, compared to 18% for gold. Silver’s breakout last week means the metal may have ...
-
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 ...