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As cryptocurrency prices have lately retreated, there has been increased scrutiny on several athletes who have bragged about getting paid in cryptocurrency, and how much money those athletes have lost. A viral story has claimed that Jaguars quarterback Trevor Lawrence lost $15 million after taking his entire $24 million signing …
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June, 2022
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23 June 2022 2:36 am
June’s US jobs data will likely climb
An early look at the state of the U.S. job market in June from payroll provider UKG suggests some strengthening, even as the Federal Reserve lifts interest rates sharply and economists raise alarms over the likelihood of a recession,” said Reuters late Wednesday.The news fails to gain any major reaction …
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23 June 2022 1:39 am
Oil Retreats On Recession Concerns
Oil retreated to its lowest level in over a month amid growing concerns that a global economic slowdown could eventually turn into limp demand.Brent crude is down by -1.48% and trades at $110. WTI slipped 3% to settle around $106 per barrel. Federal Reserve Chair Jerome Powell made his most …
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23 June 2022 12:45 am
Gold Moves Higher Following Powell’s Testimony.
Gold is trading between two levels of resistance and support, namely around $1,810 on the downside and $1,875 on the upside.At $1,840, the price of gold is a little lower than the highs but its remains 0.4% higher on the day. The price has travelled between a low of $1,823.45 …
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22 June 2022 11:28 pm
US Equities Edge Higher Post-Powell’s Testimony
The Dow Jones rose 0.2% after falling more than 1% soon after the open. The S&P 500 climbed 0.5%. The Nasdaq composite jumped 1%.The Dow Jones turned higher Wednesday, with the S&P 500 and especially the Nasdaq composite leading the way. Federal Reserve chief Jerome Powell told Congress that policymakers …
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22 June 2022 10:07 pm
Fed’s Evans: Will be necessary to bring rates up a good deal more over the coming months
Chicago Federal Reserve Bank President Charles Evans on Wednesday has signalled he is with the core group at the Fed calling for continued rapid rate hikes to battle 40-year high inflation, noting “downside” risks.Despite the persistent message from Fed members that there is a ”need to raise interest rates ‘a …
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22 June 2022 8:55 pm
Governmental intervention is the main downside risk for USD/JPY
Analysts at MUFG Bank, hold a bullish bias for the USD/JPY pair, reflecting the fact that the US rates market is unlikely to correct dramatically lower over the very short term. They see the pair trading between 130.00 and 138.50 during the weeks ahead. Key Quotes: “Risk-off and general tighter …
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22 June 2022 7:50 pm
Powell: Would never take any size of rate hike off the table
FED Chairman Jerome Powell is testifying before the Senate Banking, Housing, & Urban Affairs Committee on “The Semiannual Monetary Policy Report to Congress.”Key Quotes“Higher interest rates are painful, but it’s the tool we have to bring down inflation.”“The greatest pain would be if we allowed this high inflation to continue.”“Not …
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22 June 2022 7:17 pm
USD/CHF breaks range falling to three-week lows
After trading in a range during many sessions, the USD/CHF pair broke to the downside falling below 0.9600, for the first time in two weeks. The US dollar weakened across the board during the American session amid an improvement in risk sentiment and lower US yields.The break under 0.9620 triggered …
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22 June 2022 6:38 pm
Powell: Focused on part of inflation we can address
FOMC Chairman Jerome Powell is testifying before the Senate Banking, Housing, & Urban Affairs Committee on “The Semiannual Monetary Policy Report to Congress.” “It’s really only at the very short end that real rates are negative.”“Price inflation is a macroeconomic question.”“Our tools can’t impact energy and food inflation.”“Focused on part …
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22 June 2022 6:11 pm
Powel: Economy is very strong and well-positioned to handle tighter monetary policy
While testifying before the Senate Banking, Housing, & Urban Affairs Committee on Wednesday, FOMC Chairman Jerome Powell said that Economy is very strong and well-positioned to handle tighter monetary policy. “Inflation aggravated by longer-lasting supply chain constraints, russian invasion of ukraine; china covid lockdowns likely to exacerbate supply chain problems.”“Recent …
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22 June 2022 6:00 pm
Powel: ongoing interest rate increases will be appropriate
While testifying before the Senate Banking, Housing, & Urban Affairs Committee on Wednesday, FOMC Chairman Jerome Powell said that ongoing interest rate increases will be appropriate. “Fed is strongly committed to bringing inflation back down, moving expeditiously to do so.” “Pace of future rate increases will continue to depend on …
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22 June 2022 4:56 pm
The euro and the pound fell on concerns about global growth
The Euro and the British Pound fell on Wednesday as concerns returned that interest rate hikes by major central banks to contain inflation threatened to sharply slow global growth or even trigger a recession. Data showed that consumer price inflation in Britain reached its highest level in 40 years at …
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