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ECB can set policy independently of Fed: Villeroy
The European Central Bank can set its own monetary policy independently of the Federal Reserve, ECB policymaker Francois Villeroy de Galhau said on Sunday.
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Business News
Mnuchin says U.S. will seek currency provision in trade deal with Japan, others
U.S. Treasury Secretary Steven Mnuchin said on Saturday Washington would like to include a provision to deter currency manipulation in future trade deals, including with Japan.
Business News
Mexico says new U.S. trade deal won’t block other economic relations
Mexico’s Foreign Minister Luis Videgaray told his Chinese counterpart in a phone call on Saturday that Mexico’s new trade deal with the United States and Canada will not impede economic relations with other countries, according to a foreign ministry statement.
Business News
U.S. draws China FX into trade dispute as IMF calls for resolution
The United States sought to make currency a central part of any solution to a bruising trade fight with China, keeping the pressure on Beijing to speed up economic reforms at a gathering of world policy makers who pledged to do more to safeguard global growth.
Business News
World’s central bankers feel the heat as populists demand easy fix
Central bankers from the United States to Europe are coming under pressure from their governments to loosen their purse strings again as a decade of accelerating economic growth and booming markets fueled by cheap cash comes to an end.
Trading Ideas
Looking for the True Value of the U.S. Employee
The latest jobs report was rolled out by the U.S. Bureau of Labor Statistics last week. In case you haven’t heard, the unemployment rate in the U.S. hit 3.7%. That’s the lowest it’s been since December 1969.
Additionally, the closely tracked wage growth report signaled that wages grew 2.8% from 2017.
These statistics indicate an increasingly healthy labor market. And wages are being driven higher to attract an increasingly sparse supply of workers.
But we’re not quite there yet. Despite rising wages, the American worker is still undervalued.
The current rate of wage growth still puts us below the 3.5% needed to compensate for …read more […]
Business News
StanChart CEO says ‘actively working’ on Indonesian bank stake
Standard Chartered Plc is “actively working” on options for its stake in Indonesia’s PT Bank Permata tbk , the British lender’s Chief Executive Bill Winters said on Saturday.
Business News
Trade war won’t trigger Asian credit ratings downgrades, for now: Fitch
Fitch Ratings has maintained its stable credit outlook for all Asian countries, except Pakistan, despite expecting some “dampening effect” in the region due to the U.S.-China trade tensions, senior ratings analysts said on Saturday.
Business News
Italy budget debacle puts Europe back in global spotlight
As the euro zone sovereign debt crisis petered out, European officials at annual meetings of the International Monetary Fund were happy to move out of the spotlight over recent years. Europe was not in the eye of the storm.
Business News
China echoes IMF pledges to avoid using currency as trade war tool
China’s top central banker on Saturday pledged to keep the yuan currency’s value “broadly stable,” a sign that Beijing may be trying to prevent a bruising trade dispute with the United States from spilling over into a currency war.
Business News
BOJ’s Kuroda says Fed rate hikes good for global economy
Bank of Japan Governor Haruhiko Kuroda said on Saturday steady interest rate hikes by the Federal Reserve were “basically good” for the world economy, as they reflect robust U.S. growth that helps fuel global demand.
Business News
Bundesbank chief sees reducing chance that U.S.-China will escalate trade conflict
There is a diminishing chance for the escalation of the trade conflict between the world’s two biggest economies, China and the United States, the president of Germany’s central bank said on Saturday.
Business News
IMF members pledge to avoid using currencies as trade weapon
The International Monetary Fund said on Saturday its members pledged to refrain from competitive currency devaluations and step up dialogue on trade, as escalating trade frictions and higher borrowing costs threatened to knock global growth.
Business News
China views yuan depreciation not in its interest: Mnuchin
U.S. Treasury Secretary Steven Mnuchin on Saturday said Chinese officials told him this week that a further depreciation of China’s yuan currency was not in the country’s interest.
Business News
Facebook now says data breach affected 29 million users, details impact
Cyber attackers stole data from 29 million Facebook accounts using an automated program that moved from one friend to the next, Facebook Inc announced on Friday, as the social media company said its largest-ever data theft hit fewer than the 50 million profiles it initially reported.