Europe Roundup: Euro Retreats from 9-month high against dollar, European stocks slips ,Gold slips, Oil slips as U.S. inventory rise offsets China hopes-January 25th,2023

3 days ago EconoTimes

Before that, investors will scrutinise U.S. fourth-quarter economic growth figures, due on Thursday. USD/JPY: The dollar dipped against yen on Wednesday as investors squared positions ahead of U.S. fourth-quarter economic growth figures. Spot gold fell 0.4% to $1,930.58 per ounce by 0943 GMT, after hitting its highest since late April on Tuesday. Brent crude was down 1 cent to $86.12 a barrel by 1023 GMT after declining 2.3% in the previous session. West Texas Intermediate (WTI) U.S. crude slipped 16 cents, or 0.2%, to $79.97, after a 1.8% drop on Tuesday
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U-turns, economic turmoil and an occasionally absent prime minister: The (latest) UK political crisis explained

Instead of stepping down immediately as prime minister, Johnson announced that he would stay on until his party had selected a successor. It was then up to the wider members of the Conservative Party to pick between the top two. On Sept. 5, Truss was formally announced as the winner, with 57.4% of the votes, paving her way to become the new prime minister. Yet the prime minister is deeply wounded and will face a major challenge to recover her credibility. The prime minister could resign of her own accord, seeing the writing on the wall.

3 months ago EconoTimes

America’s Roundup: Dollar climbs, Wall Street ends mixed, Gold prices edge down , Oil settles higher on strong crude demand, easing recession fears-October 28th,2022

Market Roundup•US economic growth rebounds in Q3, consumer spending slows•ECB raises interest rates by 75 bps• US Jobless Claims 4-Week Avg. Further rate hikes are almost certain, but with a weakening economy, the pace is up for debate. Immediate resistance can be seen at 1.1676 (38.2%fib), an upside break can trigger rise towards 1.1800 (Psychological level).On the downside, immediate support is seen at 1.1475(50%fib), a break below could take the pair towards 1.1404(9DMA). The Canadian dollar was nearly unchanged at 1.3550 to the greenback, after trading in a range of 1.3539 to 1.3626. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, fell 9.7 basis points to 4.321%.

3 months ago EconoTimes

Europe Roundup: Euro slips below parity, European shares slide, Gold retreats, Oil falls as China widens COVID curbs-October 28th,2022

GBP/USD: The British pound slid against the dollar on Friday but was still set for its third consecutive weekly gain, its longest positive streak since February. For the week, the pound was still up 1.9%, its biggest weekly jump since Sept. 30. USD/JPY: The dollar strengthened against the yen on Friday as the yen weakened as the Bank of Japan stuck to its dovish stance. Spot gold was down 0.9% at $1,648.46 per ounce by 1008 GMT, while U.S. gold futures dropped 0.8% to $1,652.10. Brent crude futures dropped 50 cents, or 0.5%, to $96.46 a barrel by 1047 GMT, having climbed by 1.3% in the previous session.

3 months ago EconoTimes

George Orwell is everywhere, but Nineteen Eighty-Four is not a reliable guide to contemporary politics

Less than a week after Conway’s claim, the sales of Orwell’s Nineteen Eighty-Four had gone up an estimated 9,500%. Orwellian strategies are harder to propagate because of, well, the overwhelming success of Nineteen Eighty-Four. Winston Smith, the protagonist of Nineteen Eighty-Four, reflects:The party told you to reject the evidence of your eyes and ears. Without making direct reference to Nineteen Eighty-Four, Dugin’s critique at times echoes the debates at the core of Orwell’s novel. In Nineteen Eighty-Four, the Party official O'Brien makes an extended doctrinal statement.

3 months ago EconoTimes

Republicans gain in US midterm polls with three weeks until election

The FiveThirtyEight forecasts currently give Democrats a 61% chance to hold the Senate, but Republicans have a 75% chance to gain control of the House. Of the 35 senators up for election, 21 are Republicans and 14 Democrats. To win the Senate, Republicans would then need to gain Nevada, where they lead by one point, and Georgia, where Democrats lead by four. If the polls are understating Republicans again, election night will be ugly for Democrats and Biden. The September inflation report was released October 13, and will be the last inflation report before the election.

3 months ago EconoTimes

Not all Asian Americans vote Democratic -- and the political leanings of different Asian ethnic groups vary

Asian Americans voted in record numbers in the presidential elections of 2016 and 2020, as well as in the 2018 midterm elections. Asian Americans and the Democratic PartyRecent years have seen Asian Americans emerge as a Democratic voting bloc. In fact, the recent Asian American Voter Survey found that 56% of Asian Americans have either a “very favorable” or “somewhat favorable” view of President Joe Biden. One potential reason for Asian Americans’ preference for the Democratic Party has to do with the demographics of Democratic candidates. Though a plurality of Asian Americans identifies with the Democratic Party, there is substantial variation along ethnic lines.

3 months ago EconoTimes

Liz Truss: what happened in the night of Westminster chaos that triggered the PM's resignation?

Many factors combined to cause Liz Truss’s demise but it was a night of chaos in the British parliament that triggered her resignation. Conservative MPs were called into a vote that was ostensibly about fracking but may or may not have been a vote of confidence in Liz Truss’s government. Accusations were made that Conservative whips behaved inappropriately in order to get their MPs to vote with the government. The fracking vote was clearly a moment of high pressure for the whips, given that the prime minister’s position is precarious at best. Governing Conservative MPs under these conditions – regardless of who is prime minister – is going to be tricky.

3 months ago EconoTimes

America’s Roundup: Dollar continues retreat, Wall Street ends mixed, Gold scales 2-week peak, Oil rises on record U.S. crude exports-October 27th,2022

The European Central Bank is widely expected to raise rates by 75 basis points amid a looming recession. Immediate resistance can be seen at 1.1660 (23.6%fib), an upside break can trigger rise towards 1.1719 (Higher BB).On the downside, immediate support is seen at 1.1474(5DMA), a break below could take the pair towards 1.1424(38.2%fib). Immediate resistance can be seen at 1.3623 (5DMA), an upside break can trigger rise towards 1.3654 (38.2%fib).On the downside, immediate support is seen at 1.3525 (50%fib), a break below could take the pair towards 1.3449 (Lower BB). Dow Jones closed up by 0.01 percent, S&P 500 ended down by 0.74 percent, Nasdaq finished the down up by 2.24 percent. Oil prices surged nearly 3% on Wednesday, bolstered by record U.S. crude exports and as the nation's refiners operated at higher-than-usual levels for this time of year.

3 months ago EconoTimes

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