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Richmond Federal Reserve President Thomas Barkin remains cautious about changing his monetary policy outlook despite the release of unexpectedly weak U.S. jobs data. In a recent transcript of a TV interview with the Carolina Business Review, Barkin acknowledged that the job growth figures were weaker than most forecasters had predicted. However, he refrained from offering
In July, the flash estimate for HICP inflation showed an unexpected but marginal rise in headline inflation to 2.6% from 2.5% in June. This increase was contrary to expectations, as many economists predicted a decrease in inflation rates. Core inflation, however, held steady at 2.9%, which was surprising given forecasts for a drop to 2.7%.
The Job Openings and Labor Turnover Survey (JOLTS) data is a key indicator that is closely monitored by investors and policymakers to gain insights into the labor market dynamics. In the US, the Federal Reserve (Fed) closely watches this data to assess the need for monetary policy adjustments. Additionally, market participants analyze the JOLTS data
The Australian dollar (AUD) has been experiencing a decline against the US dollar (USD) due to economic concerns over China and issues within the local economy. Despite future expectations of a rate hike by the Reserve Bank of Australia (RBA), the AUD/USD pair fell to 0.6545 on Monday. The RBA has been delaying rate cuts
The Bank of England’s Chief Economist, Huw Pill, recently expressed concerns about the strength of services inflation and wage growth. This hints at a possible shift towards a more hawkish monetary policy stance. This comes at a time when the UK economy is facing challenges such as high services inflation and an elevated unemployment rate.
In a recent article by the Financial Times, it was reported that Prabowo Subianto, the President-elect of Indonesia, plans to allow the nation’s debt-to-GDP ratio to rise to 50%. This decision is based on the condition that his administration can increase tax revenues. While this may seem like a bold move to boost economic growth
Recently, the gold price has experienced positive traction and has climbed back closer to a two-week top. There are several influencing factors contributing to this movement. One of the key factors is the weakening US Dollar, which has been on a downward trend for the fourth consecutive day. This depreciation of the USD is attributed
The US Dollar (USD) is currently showing signs of strength as fresh buyers enter the market, pushing the USD Index (DXY) to a two-month high above the 106.00 mark. This bullish trend comes after a slight downfall inspired by softer US macro data the previous day. Traders are now eagerly awaiting the release of the
The recent ruling by the U.S. Supreme Court on the tax imposed on Americans who have investments in certain foreign corporations has raised significant discussions and debates among lawmakers and legal experts. The case involved a retired couple from Redmond, Washington, Charles and Kathleen Moore, challenging the tax on foreign company earnings that have not
The Federal Reserve recently concluded its two-day meeting and made the decision to keep the key interest rate unchanged. Despite markets hoping for a more accommodative stance from the central bank, the Federal Open Market Committee (FOMC) indicated that only one rate cut is expected before the end of the year. This was a departure