LONDON—The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to a 6–1/2-month trough after the central bank cut rates, and as speculation mounts that even more…
Oil Rises as Market Awaits Fed Interest Rate Decision
LONDON—Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or 1 percent, at $75.05 a barrel by 0916 GMT. U.S. West Texas Intermediate (WTI) crude was…
Stocks Edge Higher, Dollar Sags Eyeing Fed Pause
June 14, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Global shares edged higher and the dollar held near three-week lows on Wednesday as traders were all but certain that the U.S. Federal Reserve will refrain from hiking interest rates later in the session. Overnight, the much-watched U.S. CPI report showed prices barely rose in May, with just a 0.1 percent increase from the prior…
Students Need Work, Not Another Handout
June 14, 2023
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AustraliaBusiness & Marketseconomic policieseconomyinflationOpinionpersonal financerecessionstudent debtViewpointsWorld
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Commentary Handout culture is rampant in society today. People are seen as victims, and government handouts have become the natural response to any form of misfortune—great, small, or imagined. It, therefore, came as no surprise that the response to recently announced increases in indexation to student debt was a call for another government handout. In…
Janet Yellen Warns De-Dollarization Efforts Will Grow as Countries Seek Currency Alternatives
The U.S. dollar’s international status as the chief reserve currency is slowly diminishing as other countries diversify their assets, warns Treasury Secretary Janet Yellen. During a Housing Financial Services Committee on June 13, multiple Republican and Democratic lawmakers lobbed questions surrounding the risk of the worldwide de-dollarization campaign that has accelerated over the past year….
Australian Leading Financial Expert Calls For Better Solutions to Inflation
June 13, 2023
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AustraliaAustralian inflationBusiness & Marketseconomic policieseconomyinflationinterest rate hikespersonal financerecessionReserve Bank of AustraliaWorld
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One of Australia’s leading financial experts, Mark Bouris, has called for better solutions to tame high inflation, expressing deep concern following the RBA’s June interest rate hike. In a piece published in news.com.au, the executive chairman of Yellow Brick Home Loans has asked for an explanation of the central bank’s latest decision to institute the…
CCP Tightens Control Over Chinese Economy
June 13, 2023
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central planningChina Business & EconomyChina NewseconomyHe LifengOpinionThinking About ChinaXi Jinping
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Commentary The Chinese Communist Party (CCP) intensifies control over the economy with a new vice premier and new supervisory bodies. Under Xi Jinping, the CCP has continuously tightened its grip on the economy, including finance and banking. Now, newly-appointed Vice Premier He Lifeng and several new party-led bodies will ensure the country’s financial system aligns…
‘Very Real Risk’ of Landlords Exiting Rental Market Amid Soaring Mortgage Rates
There is a “very real risk” of landlords quitting the rental market under the pressure of soaring mortgage rates, a property firm has warned. According to research conducted by Savills, Investors’ net profits fell below 4 percent in the first quarter of 2023, marking a “dramatic shift in finances” for mortgaged buy-to-let buyers. Average net…
UK Employment Beats Pre-Pandemic Level, New Report Shows
The UK’s national employment rate is set to surpass the pre-COVID-19 pandemic level for the first time. The Office of National Statistics (ONS) published its latest labour market overview on Tuesday, showing an increase in both employees and those in self-employment. In the latest quarter, the UK employment rate was 76 percent, a rise of 0.2…
US Inflation Slows to Lowest Level in 2 Years as Food, Energy Prices Continue Downward Trend
The annual inflation rate slowed to 4 percent in May, down from 4.9 percent in April, according to the Bureau of Labor Statistics (BLS). This came in below the consensus estimate of 4.1 percent and represented the lowest level in two years. On a month-over-month basis, the consumer price index (CPI) rose just 0.1 percent,…
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