The AUD/USD pair experienced a slight retreat on Friday, settling near 0.6575, showcasing a modest descent of 0.30%. Despite this minor setback, the Reserve Bank of Australia (RBA)’s consistent hawkish stance and the positive Chinese inflation data reported during the European session have the potential to maintain the strength of the Australian Dollar. RBA’s Hawkish
A recent federal appeals court decision has further extended an injunction blocking President Joe Biden’s administration from implementing a student debt relief plan aimed at easing the burden for millions of borrowers. The ruling, issued by the 8th U.S. Circuit Court of Appeals, came in response to a request from seven Republican-led states. The decision
The Mexican Peso has seen an increase in demand despite Banxico’s surprising decision to lower rates by 25 bps in a 3-2 split decision. This move by the central bank signals further easing ahead, despite the risks of inflation and concerns about economic growth. The board of Banxico revealed that the Consumer Price Index (CPI)
The US equity markets experienced a significant turnaround on August 8th, with the Nasdaq Composite Index, Dow, and S&P 500 all posting gains. This was in response to the decrease in initial claims for unemployment benefits, which dropped to 233,000. This data helped allay concerns about the weakening US labor market, as claims remained close
On a recent campaign stop in Nevada, U.S. Vice President Kamala Harris expressed her support for eliminating taxes on tips, echoing a similar stance taken by her opponent, former President Donald Trump. This move is strategic, as it aims to win over service workers, a crucial constituency in the state. Harris emphasized her commitment to
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The recent announcement from the State Department regarding the provision of $3.5 billion in military aid to Israel is causing a stir in the international community. This funding is intended for the purchase of U.S. weapons and military equipment, highlighting the deep-rooted relationship between the two countries when it comes to defense and security matters.
The recent statements by U.S. Vice President Kamala Harris regarding the independence of the Federal Reserve have sparked discussions about the role of politics in central bank decisions. Harris made it clear that if she were to become president, she would not interfere in the Fed’s decision-making process. This stands in stark contrast to former
Federal Reserve Governor Michelle Bowman recently acknowledged the progress made on inflation in the last few months. This comes as a welcome development, despite inflation levels remaining higher than the central bank’s 2% target. Bowman emphasized the need for a cautious approach to monetary policy, highlighting the upside risks to inflation that still persist. Bowman
Indian automaker Mahindra & Mahindra’s proposed joint venture with China’s Shaanxi Automobile Group to set up a $3 billion car manufacturing plant in India raises serious concerns. Given the current geopolitical tensions between India and China, this partnership seems risky and potentially damaging to India’s national interests. The lack of transparency surrounding this joint venture
As the holiday season approaches and concerns loom over potential strikes at U.S. ports, retailers are ramping up their imports at an unprecedented rate. Container imports and freight rates saw a significant surge in July, marking an earlier peak season for the ocean shipping industry. With about 80% of global trade relying on ocean shipping,
Donald Trump has expressed a keen interest in exerting influence over the Federal Reserve if he is elected president again. He believes that the president should have a say in the Fed’s decisions, which would mark a significant departure from the institution’s long-standing independence. Trump’s remarks indicate that he is aligned with proposals to involve