Euro slumps on political uncertainty; dollar looks to Fed meeting
- The euro slumped Monday, falling to a one-month low, on rising regional political uncertainty, while the U.S. dollar awaits the Federal Reserve's meeting later in...
- The euro slumped Monday, falling to a one-month low, on rising regional political uncertainty, while the U.S. dollar awaits the Federal Reserve's meeting later in...
-- Most Asian currencies retreated on Monday as the dollar rebounded after a blowout nonfarm payrolls report saw fears of high for longer interest rates creep back...
-- Japan’s economy shrank slightly less than initially estimated in the first quarter, as a drop in capital spending appeared to be not as severe as expected, although...
Crypto exchange Kraken has announced the delisting of Monero in the European Economic Area to maintain compliance with EU regulations.
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Super Micro Computer (SMCI) is set to undergo a stock split after the market closes on Monday, aligning itself with other prominent AI-driven companies like Nvidia and Broadcom, which also executed stock splits earlier this year. Following the split, the stock will begin trading Tuesday at its adjusted—and substantially lower—price.
- More Japanese yen weakness looks likely, according to Bank of America Securities, citing its latest foreign exchange and rates sentiment survey. At 10:25 ET (14:25...
According to PANews, Allianz Chief Economist Mohamed El-Erian has issued a warning that not all investors are optimistic about the upcoming employment report set to be released on Friday. He emphasized that the Federal Reserve's fight against inflation is far from over. El-Erian noted that while the labor market appears robust on the surface, it is actually in a late-cycle phase, which could pose challenges ahead. Lindsey Bell, Chief Investment Strategist at 248 Ventures, echoed these concerns, stating that the wage growth reflected in the report might serve as a reminder to the Federal Reserve that inflation remains persistent. Bell's comments suggest that the Fed may need to remain vigilant in its efforts to control inflation despite a seemingly strong labor market. Meanwhile, Chicago Fed President Austan Goolsbee described the latest U.S. non-farm employment report as 'excellent' and expressed confidence that similar data in the future would bolster his belief that the economy is achieving full employment with low inflation. Goolsbee also indicated that it would be appropriate for the Federal Reserve to continue lowering interest rates over the next 12 to 18 months, aligning with the current expectations of most policymakers. This perspective highlights a cautious optimism among some Fed officials regarding the balance between employment and inflation. The mixed views among economists and Fed officials underscore the complexity of the current economic landscape, where strong employment figures coexist with ongoing inflationary pressures. As the Federal Reserve navigates these challenges, the upcoming employment report will be closely watched for further insights into the health of the U.S. economy and the potential direction of monetary policy.