European Central Bank (ECB) executive board member Fabio Panetta has been a vocal supporter of central bank digital currency (CBDC) and cryptocurrency sceptic, and he presented his latest argument for CBDC on Jan. 5. Writing on the official ECB blog, he said that, by developing CBDCs, central banks “will safeguard the trust on which private
Month: January 2023
The ET Money Show: Why gold shines bright this year? – The Economic Times Video | ET Now ET Now | 05 Jan 2023, 08:16 PM IST Embed <iframe mozallowfullscreen=”true” webkitallowfullscreen=”true” allowfullscreen=”true” width=”560″ height=”420″ frameborder=”0″ src=”/videodash.cms?autostart=1&msid=96770134&rlvideo=1808152121″></iframe> The asset which is glowing brightly this year is gold! Will Gold deliver glittering returns in 2023?, we discuss
Dollar rises broadly in early US session as lifted by stronger than expected ADP private job data. Meanwhile, stock futures turn south, apparently triggered by affirmation of continuous tightening by Fed. Yet, traders would still hold the larger bets until tomorrow’s non-farm payrolls data. For now, Swiss Franc is following the greenback as the second
On Friday, the US official employment report will be released. Market consensus is for an increase in payroll by 200K. Analysts at Wells Fargo point out the demand for workers has started to roll over. They argue job openings and hiring plans have declined since the start of 2022, and the trend in layoffs is
AUDJPY bounces sharply higher today The AUDJPY is having its best up day going back to June 2016. The pair has soared 2.85% (it did reach over 3.06% at the highs) on the day. Back in June of 2016, the pair had its largest most recent up day of 3.78%. The gains today were helped
The saying is that central banks will look to stick with their prevailing argument/narrative for as long as they can get away with it, and that will apply again to the ECB as we kick start the new year. I mean, you don’t have to look too far back to be reminded of how stubborn
In this article WBA Follow your favorite stocksCREATE FREE ACCOUNT Walgreens Boots Alliance on Thursday reported fiscal first quarter earnings that beat Wall Street’s estimates after an early flu season boosted demand for cough and cold medicine. The company said it also raised its full-year revenue outlook due in part to its U.S. health care
Gold prices held steady on Thursday, hovering close to a near seven-month high scaled in the previous session, while market participants prepared for U.S. jobs data that could influence the Federal Reserve‘s policy trajectory. * Spot gold held its ground at $1,854.89 per ounce, as of 0042 GMT. Prices rose as much as 1.4% to
Overall, the movements in the markets remain indecisive. Yen is staying soft after reversing all of earlier gains in the week, but holds above near term support levels. Dollar is stuck in familiar range against European majors and commodity currencies. The hawkish FOMC minutes provided no inspiration to the greenback. While Aussie surged yesterday, there
Crude oil falls 5.3%. Largest decline since September 2022 The price of WTI crude oil futures tumbled 5.3% today. That was the largest move to the downside since September 7 when the price fell -5.73%. The low price today reached $72.79. That was just above the low of a swing area between $72.76 and $73.31
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Demand for employment remained high in November as companies looked for workers to fill positions despite worries of a looming recession, the Labor Department reported Wednesday. The Job Openings and Labor Turnover Survey for the month showed available positions at 10.46 million, down just fractionally from October’s total and above the 10 million forecast by
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Digital assets funds saw inflows totaling $433 million during 2022, the lowest level since 2018, when inflows in the crypto industry reached $233 million, according to the cryptocurrency investment firm Coinshares. Investors’ appetite for digital assets seems not to have been fully affected by the crypto winter, but otherwise encouraged investments in crypto assets in
Gold prices extended their New Year rally to jump more than 1% and hit their highest since mid-June on Wednesday, helped by a weaker dollar and growing expectations of less aggressive interest rate hikes at upcoming Federal Reserve meetings. Spot gold jumped 1% to $1,857.71 per ounce by 1326 GMT, hitting its highest since June
It’s looks like a rather typical risk-on day today, with Dollar and Yen trading broadly lower, while Aussie leads commodity currencies higher. Major European indexes are firmly up while US futures also point to higher open. US and European benchmark yields are trading down again. Gold is extending recent rebound, but oil prices are falling
The Federal Open Market Committee released the Minutes of the December 14-15 Meeting, spurring little action across the FX board. The US Dollar was little changed with the news, although US short-term interest-rate futures dropped. Key notes Most participants welcomed inflation easing in October and November but agreed it would take “substantially more evidence” of progress, to