central banks

Brussels' fierce battle to confiscate Russian assets – POLITICO

Brussels’ fierce battle to confiscate Russian assets – POLITICO

The European Commission is studying legal options to confiscate Russian public and private assets to pay for Ukraine’s reconstruction, according to a document seen by POLITICO. The aim would be to “identify ways to strengthen the tracing, identification, freezing and management of assets as preliminary steps to possible confiscation”, according to the document. The potential …

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Nonfarm Payrolls Report Triggers Dramatic Market Reaction Following Fed Aftermath

Inflation remains the biggest headache

Federal Reserve and ECB officials hint at unexpected changes at December monetary policy meetings. Global inflation and Chinese coronavirus cases have raised worrying alarms. EURUSD’s positive momentum has faded, but the Euro bulls are far from giving up. EURUSD extended its November advance to 1.0480 on Tuesday, but momentum faded thereafter and ended the week …

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XAUUSD teases bears around $1,770 amid risky markets

XAUUSD teases bears around $1,770 amid risky markets

Gold prices remain under pressure after reversing from yesterday’s three-month high. Slightly bid on the US Dollar, firmer Treasury yields favor XAUUSD bears in gloomy sentiment. The downside breakout of the 15-day-old bullish channel teases sellers. The price of gold (XAUUSD) maintains yesterday’s bearish bias around $1,773 despite market gloom on Thursday morning. The yellow …

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UK budget: Britain reinstates austerity.  here's why

UK budget: Britain reinstates austerity. here’s why

London CNN Business — The last time a UK finance minister revealed tax and spending plans, the markets went haywire and the country’s prime minister eventually lost her job. The new government is not looking for repeat performance. On Thursday, Chancellor Jeremy Hunt is due to unveil a budget that will aim to restore confidence …

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XAUUSD eyes another battle with $1,720 hurdle as US Dollar retreats past CPI

XAUUSD eyes another battle with $1,720 hurdle as US Dollar retreats past CPI

Gold price is reversing the previous day’s pullback from the monthly high amid softer DXY. Markets remain risky ahead of US CPI for October, comments from central bankers underpin recent cautious optimism. Bearish yields are weighing on the greenback amid hopes of slowing US inflation and a slower Fed rate hike in December. The price …

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The markets are clearly looking for an unequivocal new engine

The markets are clearly looking for an unequivocal new engine

Markets The markets are clearly looking for an unequivocal new engine as established trends, particularly in interest rate markets, meet short term resistance. Perhaps the US midterm election result or Thursday’s October CPI release can do that. However, yesterday markets had to rely on their own internal momentum as there was no data to provide …

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Bank of England sets biggest rate hike in 33 years, warns of long recession

Bank of England sets biggest rate hike in 33 years, warns of long recession

London CNN Business — The Bank of England raised interest rates by three-quarters of a percentage point on Thursday, the biggest rise in 33 years, as it tries to contain soaring inflation even as Britain’s economy slips into a recession that could last two years. The central bank made its eighth interest rate hike in …

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Debt ceiling fights are nothing new.  The Next Could Trigger 'Armageddon'

Debt ceiling fights are nothing new. The Next Could Trigger ‘Armageddon’

London CNN Business — The US Treasury bond market, worth around $24 trillion, is considered the largest in the world. Its smooth operation has a direct impact on both America’s ability to run its government and the health of the wider financial system, which depends on traders’ view that US debt is a safe bet. …

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Markets eye election, Fed pivot and end of asset price decline

Markets eye election, Fed pivot and end of asset price decline

As investors weigh conflicting economic data and the prospects of a Fed pivot, precious metals markets are quietly plummeting. Thursday’s gross domestic product report showed the economy growing at a better-than-expected 2.6% annual rate in the third quarter. This is a major improvement from the negative GDP growth seen in the first two quarters. The …

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