Australia and Russia have long been competing for second place in the list of largest gold producers after China. However, with China’s production downturn, there appears to be a chance that one of the two contenders could rise to the world’s top manufacturer status. Although production statistics have been negatively impacted in the last couple […]
Australia’s Gold Production Plummets in Q3 2022 Read More »
The dollar edged higher on Monday as protests in China against the government’s COVID-19 policy pushed investors away from riskier assets and sent the Chinese yuan down to more than a two-week low against the safe-haven dollar. Protest against lockdown Protests erupted across China and spread to several cities after an apartment fire killed 10
China’s COVID-led Chaos Scares Market Optimism Read More »
Technology stocks posted solid gains on Wall Street on Friday, capping another strong week for the market as investors cheered solid gains from Apple and others. The S&P 500 was up 2.5%, posting a 2-week gain for the first time since August. The Dow Jones Industrial Average rose 2.6%, while the high-tech composite index Nasdaq
US Stock Market Posts 2-Week Winning Streak Since Summers Read More »
The WSJ writes that Twitter Inc. is developing plans for mass layoffs, citing knowledgeable, confidential sources. And it’s only been a few days since the social media platform was acquired by billionaire Elon Musk for $44 billion. One of the sources said that the proposed layoffs are expected to result in a reduction in engineering
Twitter May Downsize Massively After Elon Musk’s Takeover Read More »
On December 5, the price cap will take effect. Penalties may apply to cargo in transit that arrives at the buyer after December 5. In the West’s economic struggle with Russia, the Biden administration is seeking to allay industry fears of a new sanctions regime by imposing a price cap on Russian oil. An embargo
US in No Hurry to Cap the Price of Russian Oil Read More »
In almost every country except the United States, the mighty dollar cripples the economy and destroys everything around it. It’s not America’s problem, at least for now, and the dollar’s historic rise is unlikely to stop anytime soon. By some measures, the US dollar is already stronger than at the peak of the Covid-19 pandemic
The Dollar King Damages All But Not America Read More »
The Mosbirzhi group will not disappear from the dollar, and euro markets with the imposition of sanctions – the Central Bank of the Russian Federation will determine the exchange rate. Earlier, Moiseev imposed sanctions on settlement transactions to calm the community’s nervous investors. “Of course, trading will not disappear. That is, the dollar and the
What if the West forbids Russia from Trading in Dollars? Read More »
The mainland yuan fell to its weakest level against the dollar since the 2008 global financial crisis amid a steady rise in the US currency in currency trading and rumors that China is easing support for the local currency. The domestic yuan weakened to 7.2256 per dollar, a level not seen in 14 years, while
Yuan falls to the lowest level since 2008 as PboC Loses Control Read More »
As the BoE and UK Treasury sought to calm jittery markets, the pound rose slightly in Europe on Tuesday morning. As UK Chancellor Kwasi Kwarteng promised more tax cuts, the pound fell nearly 5% to a record low of $1,035 the day before. Despite the rise, Britain’s currency is still at its lowest since 1985.
GBP/USD Slightly Recovers After Hitting Record Lows Read More »
The dollar is skyrocketing against the world’s major currencies, approaching an annual record in almost 40 years and the third-biggest gain since President Richard Nixon ended the gold standard more than 50 years ago. Is the Fed Concerned About the Strong Dollar Appreciation? Not at all All other things being equal, a stronger dollar will
Historic Dollar Surge Plays into the Hands of the Fed Read More »
