Asia FX steadies, dollar flat as CPI, Fed meeting approach
-- Most Asian currencies moved little on Wednesday, while the dollar steadied as traders hunkered down before a barrage of cues on U.S. interest rates from the Federal...
-- Most Asian currencies moved little on Wednesday, while the dollar steadied as traders hunkered down before a barrage of cues on U.S. interest rates from the Federal...
According to Odaily, officials from the Dubai International Financial Centre (DIFC) have expressed their interest in strengthening and promoting cooperation in the rapidly developing fintech ecosystems. Jacques Visser, the Chief Legal Advisor of DIFC, stated that the focus of virtual asset regulation is increasingly on cross-border regulation. He mentioned that they are in close communication with other regions, including Hong Kong, encompassing all tokenized assets and assets with trading value under Web3. A lot of work, including cooperation and coordination on cross-border regulation, is currently underway. Visser believes that there is a significant potential for cooperation between Dubai and Hong Kong, particularly in the area of payment services. He stated that payment services are key to the future of finance and fintech, and he believes there are many areas both parties are interested in promoting. Furthermore, for Dubai, Hong Kong serves as a bridge to mainland China, which is the United Arab Emirates' largest trading partner.
As the market gears up for a Federal Reserve policy decision and May's Consumer Price Index (CPI) report signals that inflation may be cooling, its trajectory could change. JPMorgan Chief ETF Strategist Jon Maier joins Wealth! to give insight into the top ETF picks to protect against uncertainty in the market. "What I would do is have a barbell approach. So have some portion of your portfolio exposed to growth quality names, names that are companies that are less reliant on the capital markets because obviously rates are high, companies that have strong cash flows, that have good earnings and are less susceptible to the business cycle. So quality names, which I think a large cap blend would make sense. Also on the short side, on the fixed income side, we have a fund called JPST (JPST). JPST has run out of our liquidity group and has a yield of over 5%," Maier tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
According to PANews, the Federal Reserve is set to announce its latest decision on interest rates and monetary policy statement. This announcement is scheduled for 2:00 AM Beijing time on Thursday, June 13. A few hours prior, the U.S. Department of Labor will release the latest inflation data. Jerome Powell's press conference will take place at 2:30. It is widely anticipated that the Federal Reserve will maintain the benchmark interest rate within the range of 5.25% - 5.50%, a rate that was set in July of the previous year.
-- Chinese consumer price index inflation grew less than expected in May as consumption remained largely languid in the face of an uncertain economic recovery. But...
-- Gold prices moved little in Asian trade on Wednesday, hovering around a key support level as traders hunkered down before more definitive cues on U.S. rates from a Federal Reserve meeting and inflation data.
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