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☆ Dollar on track for weekly gain as Fed pushes back on pivot
▼ + stars: | 2022-11-18 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The dollar rose modestly on the yen following Bullard's comments and is up about 1.2% for the week to 140.36 yen . It also rose 0.9% on the Australian dollar overnight to $0.6690 per Aussie, and is on course for its first weekly gain on the Aussie since mid-October. Fed funds futures pricing currently implies a peak rate just below 5% and for rates to start falling by late 2023. Earlier this week, stronger-than-expected retail sales data had also shaken hopes for a pause in hikes, since it seemed to suggest consumers remained in spending mode. Later on Friday, British retail sales data is due, and European Central Bank President Christine Lagarde is among a smattering of policymakers due to speak.

☆ Fed's Barr: Concerned about blowback to financial system from crypto
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +3 min

"That includes obviously crypto activity, but more broadly risks in parts of the financial system where we don't have good visibility, we don't have good transparency, we don't have good data. That can create risks that blow back to the financial system that we do regulate." Barr's remarks came in his first congressional testimony since becoming the Fed's top Wall Street cop over the summer and augmented his prepared comments to the committee that he was keeping a close eye for stresses in the financial system amid a weakening economy. Banks are not required to place other types of custody assets on their own balance sheets. "Wouldn't this impose a significant cost on banks if they are in fact obligated to put all of the ... crypto custody assets on their balance sheets," Toomey asked Barr.

☆ Fed boosts focus on liquidity, other risks as economy weakens: Barr
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 14 (Reuters) - Michael Barr, the Federal Reserve's top regulatory official, said Monday the U.S. central bank is watching for any stresses to the financial system amid a weakening economy, and signaled that stiffer oversight of cryptocurrency is in the offing. Last week Fed policymakers unanimously decided to raise their benchmark rate by 75 basis points to a range of 3.75%-4%. Barr used his speech to lay out a set of priorities for regulation that includes bank capital requirements, bank mergers, and cryptocurrencies. Crypto exchange FTX collapsed last week, sending shock waves through the industry and prompting calls for stiffer regulatory oversight. Reporting Ann Saphir and Lindsay Dunsmuir; Editing by Leslie Adler and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Ricardo Moraes/File Photo/File PhotoLONDON, Nov 2 (Reuters) - The pace and scale of rate hikes delivered by central banks around the globe in October slowed down dramatically following September's historic peak. The latest moves have brought total rate hikes in 2022 from G10 central banks to 2,050 bps. Emerging markets interest ratesMarkets had recently taken heart from indications that rate hikes from major central banks - especially the U.S. Federal Reserve - were slowing down. "We see central banks on a path to overtighten policy," said Boivin on Monday in a weekly outlook note from the world's largest asset manager. "We think the Fed, like other developed market central banks, will only stop when the severe damage from rate hikes is clearer.

☆ South Africa moves to regulate crypto assets
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

JOHANNESBURG, Oct 19 (Reuters) - South Africa's financial watchdog has classified cryptocurrency assets as financial products, a notice in the government gazette said on Wednesday, enabling them to be regulated. Regulations that the authorities have said they planned to introduce include applying foreign exchange controls and licensing crypto trading companies. Crypto assets are not issued by a central bank, but are capable of being traded, transferred or stored electronically. He added the SARB wanted regulation of crypto assets to prevent theft, money laundering and undermining of monetary policy because an ubiquitous cryptocurrency could weaken the authority of the central bank. He added the declaration would apply to crypto trading platforms, as well as those that provide advice or intermediary services for the buyers and sellers of digital financial assets.

☆ Stock futures are flat ahead of Friday's big bank earnings
▼ + stars: | 2022-10-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Stock futures were little changed Thursday night as investors turned their attention to big bank earnings after the major averages staged a historic turnaround rally. S&P 500 futures inched higher by 0.08%, and Nasdaq 100 futures hovered just below the flat line. In regular trading, the Dow ended up 827 points after being down more than 500 points earlier in the day. The S&P 500 rose 2.6% to break a six-day losing streak. A market rally will likely commence when the market believes that a Fed tightening pause is in the offing."

But she said the current priorities for global economic officials were controlling inflation, improving fiscal policy after massive spending early in the pandemic, and finding ways to buffer developing countries against the global rise in interest rates. How do we build fiscal space given that we've used up so much" fighting the initial shock of the pandemic? Studies have begun documenting a potentially permanent blow to labor supply from the pandemic. In the United Kingdom, long-term illness has sidelined more than 377,000 people since the start of the pandemic, about 1% of the labor force. It may be only the beginning of understanding what the pandemic has meant and how the world may need to prepare for the next shock.

Energy analysts believe the deep production cuts could yet backfire for OPEC kingpin and U.S. ally Saudi Arabia. Energy analysts believe the deep production cuts could yet backfire for OPEC kingpin and U.S. ally Saudi Arabia, particularly as Biden hinted Congress would soon seek to rein in the Middle East-dominated group's influence over energy prices. OPEC and non-OPEC allies, a group often referred to as OPEC+, agreed on Wednesday to reduce oil production by 2 million barrels per day from November. "In light of today's action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices," the White House said. While the group likes to say they keep politics out of their decisions, there's no denying that there are potential ramifications to this beyond the oil price.

☆ Dollar hits two-decade high on Fed outlook; yen falls after BOJ holds rates
▼ + stars: | 2022-09-22 | by ( ) www.cnbc.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are arranged for a photograph in Tokyo, Japan. The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve's hawkish outlook for interest rates. The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve's hawkish outlook for interest rates and after Russian President Vladimir ordered the country's first mobilization since World War Two. The greenback climbed to a new 24-year high above 145 yen after the Bank of Japan maintained ultra-low interest rates and dovish policy guidance on Thursday. The two-year U.S. Treasury yield reached a fresh 15-year high of 4.132% in Tokyo trading.

☆ Dollar powers to new two-decade high on Fed outlook, Russia jitters
▼ + stars: | 2022-09-22 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which measures the currency against a basket of six counterparts including the euro and sterling, rose as high as 111.65 for the first time since June 2002. read moreThe two-year U.S. Treasury yield reached a fresh 15-year high of 4.132% in Tokyo trading. The dollar rose 0.23% to 144.44 yen , edging back toward the psychological 145 mark where it was rebuffed two times this month. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kevin Buckland; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

The average cost of gas in the U.S. inched up by a penny Wednesday, ending a 98-consecutive-day streak of declining prices, AAA.com said. “But there are big factors tugging on global oil prices — war, COVID, economic recession, and hurricane season. U.S. gas prices are largely determined by global oil prices. Last week, the price of U.S. benchmark West Texas Intermediate crude oil climbed above $88 a barrel for the first time since August. It has since come back down in price, suggesting further declines in U.S. pump prices could be in the offing.

☆ This large cap fund is staying above water in this bear market by being the 'antithesis of ARK'
▼ + stars: | 2022-09-17 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

James Abate expects that his fund distinguished itself this year by maintaining a traditional bottom-up perspective on stocks. The flagship fund of Cathie Wood's ARK Invest, the ARK Innovation ETF , is down 28% this year. The fund manager maintains a concentrated portfolio of 35 to 50 of his best ideas. The fund manager also incorporates hedging techniques, specifically put options, from time to time to fortress the portfolio during periods of volatility, such as during the pandemic. Before founding Centre Asset Management in 2006, Abate started his career as a manager of valuation services at PriceWaterhouseCoopers in 1987, according to LinkedIn.

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