The dollar was at a standstill on Tuesday as investors held their breath, waiting to see how U.S. economic data would impact the possibility of significant rate cuts. A rally in Japanese stocks provided some relief to the yen carry trades, but uncertainty loomed over the currency market. The greenback hovered at 147.17 yen, reaching
Economy
The week started quietly for Asian stocks as Japan observed a holiday, reducing recent volatility. Investors awaited major U.S. and Chinese economic data to gain insights into global growth prospects. The Federal Reserve closely monitored U.S. consumer prices for signs of inflation and possible rate cuts. U.S. consumer prices were expected to rise by 0.2%
In a recent interview with CNN, Republican U.S. vice presidential candidate JD Vance expressed his support for Donald Trump’s stance on giving presidents a say in Federal Reserve Board policy-making. Trump’s belief is rooted in the idea that political leadership should play a larger role in determining the country’s monetary policy. This has sparked a
The recent allegations made by US-based shortseller Hindenburg Research against the head of India’s markets regulator, Madhabi Puri Buch, have raised concerns among investors. Hindenburg claimed that Buch previously had investments in offshore funds used by the Adani Group, leading to questions about potential conflicts of interest. In response to the allegations, the Securities and
During a recent campaign stop in Nevada, U.S. Vice President Kamala Harris expressed her support for eliminating taxes on tips for service and hospitality workers. This move was seen as an effort to win over this important constituency in the state, aligning Harris with her rival Donald Trump who had previously made a similar proposal.
The proposed $3 billion joint venture between Indian automaker Mahindra & Mahindra and China’s Shaanxi Automobile Group has sparked controversy, with conflicting reports emerging about the deal. According to sources, Mahindra is set to have a majority stake in the manufacturing venture, which is planned to be located in Prime Minister Narendra Modi’s home state
Federal Reserve Governor Michelle Bowman, who is known for her hawkish stance on inflation, appeared to take a slightly softer tone in her recent remarks. While she acknowledged some progress in inflation in the last couple of months, she also emphasized that inflation remains “uncomfortably above” the central bank’s 2% goal and is still subject
The recent ruling by the 8th U.S. Circuit Court of Appeals blocking President Joe Biden’s administration from further implementing a student debt relief plan has sparked a legal battle between the Republican-led states and the administration. The ruling came as a blow to the administration’s efforts to lower monthly payments for millions of borrowers and
As the trading week came to a close, the S&P 500 managed to end higher despite experiencing significant volatility earlier in the week. This came as a relief for investors who witnessed a steep decline on Monday, triggered by concerns of a looming recession and the unwinding of a global yen-funded carry trade. The technology
The Reserve Bank of India (RBI) recently announced its decision to keep its key interest rate unchanged at 6.50%, marking the ninth consecutive policy meeting where rates have remained stable. This decision comes amidst global market volatility and the anticipation of rate cuts by other major central banks. The Monetary Policy Committee (MPC), which consists