At the December 2023 policy meeting, U.S. Federal Reserve officials expressed growing confidence in their ability to control inflation. According to minutes from the meeting, officials believed that “upside risks” to inflation had diminished and expressed concern about the potential damage that overly restrictive monetary policy could inflict on the economy. As a result, there
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The Federal Reserve officials have concluded that interest rate cuts are on the horizon for 2024, as stated in the minutes released from their December meeting. However, little clarity was provided regarding the timing of these potential cuts. During the meeting, the rate-setting Federal Open Market Committee decided to maintain its benchmark rate within a
The US Dollar Index (DXY) has gained ground as traders react to the latest ISM Manufacturing PMI report. The report showed an improvement in the PMI, rising from 46.7 in November to 47.4 in December. This positive data has provided support to the US dollar, pushing it higher against other major currencies. If the US
The Mexican Peso (MXN) started the year on a weaker note against the US Dollar (USD), experiencing a dip to a three-month low of 16.86 on December 28. However, the MXN has been influenced by a rise in US Treasury Bond yields and a generally bullish sentiment towards the USD. These factors have helped keep
Richmond Federal Reserve President Thomas Barkin recently addressed the state of the economy, expressing confidence in its trajectory towards a soft landing. However, he also emphasized the need for caution among policymakers, recognizing the challenges that lie ahead. Despite progress in managing inflation and sustaining economic growth, Barkin indicated that interest rate hikes are still
The price of silver (XAG/USD) has taken a sharp downturn, plunging to near $23.15 as investors seek safer assets in the early New York session. Market participants are rapidly abandoning the white metal, leading to a decline in its appeal. This sudden shift is primarily attributed to investors reevaluating their bets on early rate cuts
The Nasdaq 100 has long been outperforming the Dow Jones Industrial Average (DJIA) during the major uptrend phase. However, this trend seems to be changing as there has been a recent bullish rotation into the laggard, DJIA. This rotation is considered a positive breadth development for the US stock market. In this analysis, we will
The US dollar saw a significant rally during Tuesday’s trading session, breaking above the 142 yen level. This movement has sparked hope among traders, suggesting a potential resurgence for the struggling currency. However, there are still hurdles to overcome before the dollar can fully recover. To solidify its upward trajectory, the USD needs to break
The silver price (XAG/USD) is experiencing difficulties in maintaining its position above the significant resistance level of $24.00. This struggle is occurring amidst an increase in demand for safe-haven assets. Investors are displaying cautious behavior ahead of key events such as the release of the FOMC minutes, Manufacturing PMI data, and labor market information. The
The Pound Sterling (GBP) continues to face considerable pressure as the S&P Global UK Manufacturing PMI data remains below consensus. This indicates that UK factory activities have remained subdued due to weak demand from both the domestic economy and export markets. The recent data release shows that the Manufacturing PMI remains below the 50.0 threshold
The GBPUSD currency pair has recently experienced a surge in value, reaching a four-month peak. However, despite this positive momentum, it has also faced some setbacks along the way. Prior to its current upward trajectory, GBPUSD broke above a significant descending trendline in early November, signaling a potential shift in its overall performance. This bullish
In late 1976, Mohammad Yunus embarked on a mission to alleviate poverty in Bangladesh’s port city of Chittagong. He introduced the concept of microfinance and began offering small loans, as low as $100, to empower women and protect them from exploitative moneylenders. This initiative marked the beginning of a microfinance movement that would eventually spread