BRICS: 10 Domestic Currencies Surpass the U.S. Dollar's Performance This Week
This week, the U.S. dollar continues to face downward pressure from macroeconomic factors.
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The probability of a recession is "extremely elevated," according to the chief economist, as the economy appears set to experience a surge in unemployment and a significant downturn in consumer spending.
The likelihood of the economy sliding into a recession is "very significant," as the US braces for an uptick in unemployment and a notable decline in consumer spending.Read now -
NYCB continues its decline following the most recent series of credit downgrades.
New York Community Bancorp experienced a second consecutive day of decline following rating downgrades, posing a threat to the bank's borrowing costs. The company's shares dropped by 23%, reaching the lowest level since 1996, after a 26% plunge on the previous Friday.Read now -
Biden will create a "strike force" with the aim of addressing and combating price-gouging.
President Biden will unveil the establishment of a "strike force" on Tuesday aimed at holding companies accountable for engaging in price-gouging practices. This announcement precedes the State of the Union address, where Biden is expected to present his economic agenda to both Congress and voters in anticipation of the 2024 election.Read now -
Federal Reserve Chair Keeps Mum on Removal of Gold by Foreign Nations from the United States.
Amidst concerns about a weaponized financial system, several nations are indicating plans to repatriate their gold and other assets from the U.S. following unprecedented Western sanctions on RussiaRead now -
Gold surges beyond the $2,100 mark, reaching an all-time high, fueled by traders' speculation on forthcoming interest rate cuts.
On Monday, gold futures reached their highest-ever level as traders speculated that the Federal Reserve would commence interest rate cuts in the latter half of the year.Read now -
US banks prepare for imminent changes
In recent weeks, an unprecedented shift has unfolded in the metals market, coinciding with noteworthy events in the banking sector that demand our attention.Read now -
The global economic outlook teeters on a delicate balance, largely contingent on the trajectory of inflation.
Despite signs of inflation easing, there exists the potential for a second surge in price pressures fueled by geopolitical conflicts and disruptions in the Red Sea's supply chains.Read now -
Top economist Torsten Slok asserts that the Federal Reserve will not be reducing interest rates this year.
Apollo Management Chief Economist Torsten Slok has asserted that the Federal Reserve won't be inclined to reduce interest rates in 2024 due to the re-acceleration of the US economy and a concurrent uptick in underlying inflation.Read now
