Futures News Regulators 

Dow futures edge higher ahead of Federal Reserve rate decision

“U.S. stock index futures were slightly higher on Wednesday morning, as traders eagerly awaited the Federal Reserve’s latest monetary policy decision” writes Sam Meredith for cnbc.com. ET, Dow futures were 126 points higher, indicating a positive open of more than 42 points.Market focus is largely attuned to the actions of the U.S. central bank, amid mounting speculation the Fed could be tempted to pause monetary tightening on Wednesday.Complicating matters further for the central bank, President Donald Trump warned Tuesday that it must tread carefully in order not to “make yet…

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Markets News Regulators 

US dollar struggles near one-week low ahead of Fed rates signal

“The dollar index was down 0.25 percent at 96.86, hovering near a one-week low as it extended losses into the second day” reports cnbc.com. Risk sentiment has been soured by weaker-than-expected economic data out of China and the eurozone, while the Sino-U.S. trade dispute and a collapse in oil prices have added to fears the global economy is fast losing momentum.”The positioning going into the FOMC meeting is very defensive and that’s why we are seeing the dollar weakening,” said Michael McCarthy, chief markets strategist at CMC Markets. Source: cnbc.com Share…

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News Regulators 

Much ado about very little from the Fed

“The best-laid plans of Fed policy makers often go awry when economic data releases challenge their forecast (See 2016: projections versus reality)” writes Caroline Baum for marketwatch.com. No longer can financial markets rely on the gradual, premeditated and practically pre-announced adjustments to the benchmark overnight interest rate, according to these analyses.I read with interest the articles last week about the Federal Reserve’s new “unpredictable” and “flexible” approach to monetary policy.From now on, the Fed will be “data dependent.” If you are scratching your head, join the club.When has monetary policy…

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News 

Chinese central bank chief says will keep monetary policy flexible

“China’s central bank will keep its monetary policy flexible and appropriately adjust it according to changes in the country’s economic situation, bank governor Yi Gang said in a magazine article published late on Monday” writes Teh Eng Koon for cnbc.com. Yi said that tools he described as a “slow release of air” and “soft landing” must be used when the economy begins overheating or a bubble in asset prices starts developing, but that financial markets must be stabilised and public confidence enhanced if a recession or external shock occurred.China’s central…

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Crypto News 

Saudi Arabia to Launch Cryptocurrency Next Year

“Saudi Arabia will be launching its own cryptocurrency next year” writes David Kimberley for financemagnates.com. Though cryptocurrency fanboys may be delighted at the thought of a central bank – and hence ‘mainstream’ – cryptocurrency, they are likely to be slightly disappointed by what the UAE and Saudi Arabia are developing.Speaking to local outlet Agraam, Mubarak Al-Mansouri said that the launch of the new cryptocurrency would be determined by how quickly Saudi Arabia is able to complete research necessary to its formation.If it is the former, it’s difficult to see how…

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News Regulators 

Fed set for a broad review on how it conducts policy in 2019

“Central bank officials announced Thursday that they will look at “strategies, tools, and communication practices” the Fed uses to formulate monetary policy” writes Jeff Cox for cnbc.com. The Federal Reserve in 2019 will launch a broad look at how it conducts policy and conveys what is doing to the public. The September minutes noted that a couple members said “it would be desirable to assess the Committee’s strategic approach to the conduct of policy and to hold a periodic and systematic review of the strengths and weaknesses of the Committee’s…

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News Regulators 

The Federal Reserve will re-evaluate how it conducts monetary policy, the central bank announced Thursday.

“The Federal Reserve will re-evaluate how it conducts monetary policy, the central bank announced Thursday” reports washingtonexaminer.com. Legislation passed by Republicans in the House of Representatives last year would have overhauled the Fed and changed the way it communicates its monetary policy, but that bill has stalled in the Senate.”With labor market conditions close to maximum employment and inflation near our [two] percent objective, now is a good time to take stock of how we formulate, conduct, and communicate monetary policy,” Fed Chairman Jerome Powell said in a press release.President…

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GBP News Regulators 

Dollar stands tall, inches closer to its 16-month high

“The dollar index gained 0.12 percent on Monday, changing hands at 97.02, sitting a little below its 16-month high of 97.2 hit on Oct. 31” writes Beawiharta Reuters for cnbc.com. “The dollar index was firm all last week, bouncing back after the mid-term election results.The dollar index has strengthened four weeks in row, gaining 0.37 percent last week.The single currency lost ground versus the dollar in the previous three trading sessions as investor confidence weakened due to the standoff over Italy’s budget.The dollar built on last week’s gains and rose…

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News Regulators 

Dollar supported by hawkish Fed, yen bounces after hitting five-week low

“The yen reversed course after hitting a five-week low versus the dollar to trade at 111.86 on Friday” reports cnbc.com. The yen, as a result, remains near a five-week low against the dollar.While the Fed is on track to raise interest rates, the BOJ is expected to keep its ultra loose monetary policy due to low growth and inflation.The dollar index, a gauge of its performance against six major peers, traded at a fresh one-week high at 96.75.The Australian dollar lost 0.21 percent to trade at $0.7241 as sentiment was…

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