Author: FX

HJBC/iStock via Getty Images The Consumer Product Safety Commission voted this week to seek public input on the dangers of gas stoves, a potential first step toward implementing certain safety standards or other regulations governing their use. The agency said it has no regulations or bans in the works, but such a Request For Information – from appliance and energy industries, scientists and the medical professions, plus the public at large – is a federal agency’s initial step on the road to potentially imposing new rules. “The chronic hazards that can arise from toxic emissions should be studied, and that…

San Francisco Fed President Mary Daly is out with some candid comments today. She’s plugged into the core of the Fed and was the first to signal a higher path for Fed rates in November 2021. Her latest comments skew hawkishly but it’s conditional on the final round of data before the March 22 FOMC decision.I am beginning to think the labor market has a shortage of workersAnecdotes from business leaders suggest inflation is slowing more than recent data suggestsInflation is still high, have to think about ‘continuous tightening’It would be a mistake to say we’ve done all we can…

Takako Hatayama-Phillips San Francisco Fed President Mary Daly kept a hawkish tone while speaking to reporters after a speech she gave Saturday at Princeton University. Until she has full confidence that the U.S. economy is heading toward 2% inflation in a reasonable amount of time, “I will continue to support tightening,” she said. With January’s jobs report and inflation data coming in hotter than expected, she’s keeping a close eye on the next round of data to see if that comes in higher than expected. As such, “it’s really too early to discuss the specifics of the next policy adjustment,”…

The Japanese Trade Union Confederation (JTUC, more commonly known as Rengo) says its survey of 2000+ unions in the country shows an average pay rise request of 4.49% this year. This is the highest since 1998’s 4.36% and is much higher than the 2.97% sought in 2022.Japan’s “shunto” spring wage talks are held each March, where larger firms meet with unions for wage talks. Agreements reached at these wage talks influence wages at smaller firms. The Bank of Japan is encouraging higher wages to support inflation Inflation Inflation is defined as a quantitative measure of the rate in which the…

© Reuters. Ukrainian service members ride a self-propelled howitzer, as Russia’s attack on Ukraine continues, near the frontline city of Bakhmut, Ukraine February 27, 2023. REUTERS/Yevhen Titov (Reuters) – President Vladimir Putin cast the confrontation with the West over the Ukraine war as an existential battle for the survival of Russia and the Russian people – and said he was forced to take into account NATO’s nuclear capabilities. The European Union vowed to increase pressure on Moscow “until Ukraine is liberated” as it adopted a 10th package of sanctions on Russia on Saturday, a day after the first anniversary of…

China’s parliamentary committees meet in the week ahead, beginning on Sunday in an event that will outline key government policies and targets. Chief among them will be a GDP growth estimate, which government advisors currently recommend at 4.5-5.5%. The consensus from economists is 4.9% but there’s some chatter about 6%.The two swing factors are 1) pent up demand from the reopening 2) the damaged property sector. The government is expected to widen its annual budget deficit to around 3% of gross domestic product this year and issue about 4 trillion yuan in special bonds to support investment spending, according to…

Pioneer High Income Fund declares $0.0575 dividend Source link

© Reuters. FILE PHOTO: Actor Tom Sizemore attends the premiere of the film “The Expendables 3” in Los Angeles August 11, 2014. REUTERS/Phil McCarten (Reuters) -Tom Sizemore, an American actor known for his roles in “Saving Private Ryan” and “Black Hawk Down,” has died at 61, Washington Post reported on Friday. Sizemore was hospitalized in Los Angeles last month after suffering a brain aneurysm and was in critical condition. Source link

POUND STERLING ANALYSIS & TALKING POINTSWill Chinese positivity follow through next week benefitting risk assets?UK GDP and Fed speak in focus next week.GBP/USD hesitance awaiting fundamental catalyst. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter GBPUSD FUNDAMENTAL BACKDROPThe British pound found some support on Friday with UK services data PMI as well as renewed risk appetite after better than expected Chinese PMI figures. The China re-open story has started to gain traction again allowing risk assets like the GBP to flourish. The key theme for next…

Olemedia/iStock via Getty Images Bitcoin (BTC-USD) is set to end the week ~4% lower as Silvergate Capital’s (SI) viability warning fueled fears of a domino effect in the cryptocurrency market. Risk appetite was also hit by ongoing concerns over the Federal Reserve’s policy path. The Federal Reserve will likely raise its policy rate to a level higher than it projected late last year, given still hot economic data that point to continued inflationary pressures. The top crypto fell to an over two-week low on Friday, remaining firmly below $24K for the most part of this week. The overall crypto market…