News 

US dollar falls as Trump accuses ‘China, European Union and others’ of manipulating their currencies

“The U.S. and EU have long had a cooperative trading arrangement, with the European currency traditionally running well ahead of the greenback” writes Jeff Cox for cnbc.com. It is also unusual for a president to openly critique monetary policy, though Trump said he is not concerned by perceptions that his comments could compromise the Fed’s independence.He estimated that currency imbalances were costing the U.S. $150 billion with European Union nations.”In China their currency is dropping like a rock and our currency is going up, and I have to tell you…

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News Regulators 

Trump’s Fed criticism is nearly without precedent in US history

“President Donald Trump’s move to criticize the Federal Reserve is almost without precedent in a nation that places a high priority on the independence of monetary policy” writes unknown author for cnbc.com. Almost all of Trump’s predecessors steered clear of Fed critiques in the interest of making sure that interest rates were set to whatever was best for the economy and not to boost anyone’s political fortunes.Concerns about too much liquidity in the economy were “just bulls—,” the president added. That in turn pushed the economy into recession but also…

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Crypto News 

Bank of Israel Deputy Governor: Cryptocurrency Can Assist the Monetary System

“Bit2c is an Israeli cryptocurrency exchange which offers trading with Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ethereum Classic, and Bitcoin Gold and has daily volumes of $118,636, according to coinmarketcap.com” reports financemagnates.com. She said that the government is working on cryptocurrency regulation.Heavy regulation is required for initial coin offerings and token generation events, sustainable regulation is required for cryptocurrency exchanges, while for pure blockchain technology no regulation is necessary. Source: financemagnates.com Share This:

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Markets News 

JPMorgan’s Erdoes warns of market volatility underpinned by monetary policy, geopolitics

“Mary Callahan Erdoes, CEO of J.P. Morgan’s asset & wealth management unit, and one of the more prominent women on Wall Street, warned that financial advisers were standing in front of “a lot of never haves” in terms of macroeconomic conditions, citing the degree of quantitative easing and globalization, as well as the fact that there hasn’t been a trade war in a half century” writes Anneken Tappe for marketwatch.com. She also warned that a tapering or ending asset purchases by the European Central Bank could introduce a funding short-fall…

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Crypto News Platforms Regulators 

Blockchain-Based Trade Finance Platform to Launch…

“The Hong Kong Monetary Authority is poised to become one of the earliest government-backed financial institutions to launch a blockchain-based trade finance platform” reports livebitcoinnews.com. Do you think that the Hong Kong Monetary Authority is setting the tone for a widespread adoption of blockchain-based technology?. It is set to introduce the first government-backed trade finance platform based on the blockchain.The new trade finance platform is set to introduce a range of inherent benefits tied to the DLT. One of the core aspects of it is consistent and undeniable access to…

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Markets News 

Jerome Powell: Job market will be strong for ‘several years’

“The economy is in good shape for the near future, Federal Reserve Chairman Jerome Powell said Tuesday, testifying that “the job market will remain strong and inflation will stay near 2 percent over the next several years.”” reports washingtonexaminer.com. Powell reassured senators Tuesday that steady rate increases was the Fed’s preferred course of action, noting that tightening monetary policy too slowly could raise the risk of too-high inflation or financial market bubbles.The economy does face threats, Powell acknowledged, including from the possibility of a trade war.Powell provided that sunny forecast…

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Markets News 

Dollar edges up before Powell’s testimony  

“The dollar slightly gained against its major peers on Tuesday, as investors awaited Federal Reserve Chairman Jerome Powell’s first congressional testimony for any clues on the pace of U.S. interest rate rises” writes unknown author for cnbc.com. Powell will testify on the economy and monetary policy before the U.S. Senate Banking Committee at 1400 GMT on Tuesday, followed by a testimony at the same time on Wednesday to the House of Representatives Financial Services Committee.”It seems that the markets are focusing on whether or not the trade war between the…

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News 

CFTC seeks to impose monetary penalty of $56m on binary options marketers

“They used email marketing firms to send SPAM with misrepresentations about the trading systems to millions of people, paid video producers to make elaborate misleading video testimonials promoting the trading systems” reports financefeeds.com. The defendants acted as marketers for the following binary options websites: LBinary, Global Trader 365, Vault Options, TraderXP, Trade Rush, Banc de Binary, Citrades, OptionMint, OptionRally, RBOptions, Bloombex Options, Redwood Options, BeeOptions, Amber Options, OptionsXO, and SpotFN. None of these websites or their operators are or ever have been registered to offer binary options contracts to the…

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News Regulators 

Fed will be key to preventing yield curve’s recession prophesy from coming true: investor

“As the Fed tightens monetary policy, short-dated yields climbs towards the neutral rate, at which monetary policy neither juices nor slows the economy” writes Sunny Oh for marketwatch.com. This also had the effect of lifting short-end Treasury yields close to their long-end counterparts, either making the yield curve very flat, or inverting it altogether.If the Fed had accurately landed at the neutral rate, the flat or inverted yield curve would not portend trouble for the economy. “The Fed (in a perfect world) would be expected to hike to the neutral…

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GBP News 

JPMorgan CEO Dimon issues stark warning about ‘catastrophic’ events if Italy leaves the euro

“Because of the way it has been designed, the European Monetary Union would be hard to reverse without causing catastrophic events,” Dimon told the paper” writes Will Martin for businessinsider.com. Official policy is that the government backs remaining in the European Union, but Matteo Salvini, the Lega Nord’s leader, is an avowed eurosceptic, and is believed to privately back an exit.JPMorgan boss Jamie Dimon has warned Italy’s populist government of the likely “catastrophic” consequences that would come from attempts to pull the country out of the eurozone. Source: businessinsider.com Share This:

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