News and Information

  The former head of JPMorgan Chase's precious metals division and his top gold trader have been jailed for spoofing, fraud and attempted market manipulation. The so-called "spoofer" is mainly the act of making false quotes during stock or futures market trading and then quickly withdrawing orders, which in turn leads investors to misjudge the situation and misplace orders. On Tuesday, U.S. District Judge Edmond Chang in Chicago sentenced Michael...

  The Federal Reserve's discounted interest rate meeting notes released on Tuesday showed that the New York Fed and the Atlanta Fed Board of Governors supported keeping the discount rate unchanged in July, while other Federal Reserve Banks supported a decision to raise the discount rate by 25 basis points. Fed officials agreed last month to raise the benchmark federal funds rate to a target range of 5.25% -5.5%, the highest level in 22 years. The Fed's monetary policy meeting notes released last week highlighted the internal differences of opinion, while the stickers...

  Thomas Barkin, chairperson of the Richmond Fed, said the Fed could lose credibility if it considers changing its 2 per cent inflation target before hitting it. "2 per cent is not a magic unicorn number that we will never get to," Mr. Barkin said at an event on Tuesday. The personal consumption expenditure index, the Fed's preferred measure of inflation, rose 3 per cent in June from a year earlier, its smallest increase in more than two years. The ratio was lower than last year.

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 23, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1988 yuan for 1 US dollar, 7.8965 yuan for 1 euro, 5.0081 yuan for 100 yen, 0.91841 yuan for 1 Hong Kong dollar, 9.2688 yuan for 1 pound, 4.6863 yuan for 1 Australian dollar, and 4.6863 yuan for 1 New Zealand dollar.

  According to the latest employment survey released Monday by the New York Federal Reserve, "average retention pay," the minimum acceptable wage for changing jobs, rose to $78,645 in the second quarter of 2023, up about 8 percent from a year ago and a new high since March 2014. Over the past 3 years during the COVID-19 era, the level has risen more than 22 percent. The figure is significant because there is a growing recognition that wages are a driver of inflation. Although inflation has risen since 20...

  In early Asian trading on August 22, Beijing time, the dollar index (103.1614, -0.1661, -0.16%) fluctuated in a narrow range and is currently trading around 103.36. The dollar index fell on Monday, ending a five-week streak of gains, and finally closed down 0.1% at 103.34. Investors bided their time ahead of the Federal Reserve's annual global central bank meeting in Jackson Hole, Wyoming, anticipating that major central banks could take longer...

  International spot gold closed volatile on Monday (August 21), with an opening price of $1888.92/ounce, a high price of $1898.59/ounce, a low price of $1884.61/ounce, and a closing price of $1888.97/ounce. Due to the lack of data and major events, the overall volatility of gold trading on Monday was limited, and it continued to fall into a narrow range of saw trading conditions. According to a San Francisco Federal Reserve Research Report, Federal Reserve officials...

  Markets have two big questions to answer - how high will US interest rates rise, and how long will they remain there? Federal Reserve Chair Jerome Powell's participation in discussions on the real neutral rate at the central bank's annual meeting in Jackson Hole, Wyoming, on August 25 may provide some important clues. Anna Wong of Bloomberg Economics said that given the divergent views on the issue within the Fed, "we expect Powell to make a strong statement...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 22, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1992 yuan, 1 euro to 7.9350 yuan, 100 yen to 4.9955 yuan, 1 Hong Kong dollar to 0.91843 yuan, 1 pound to 9.2941 yuan, 1 Australian dollar to 4.6777 yuan, 1 New Zealand dollar to RMB...

  As the best performing G10 currency against the dollar this year, the pound has gained more than 5% against the dollar. This impressive performance is mainly due to the Bank of England's 14 consecutive interest rate hikes and market expectations that it will continue to raise interest rates. The Bank of England is likely to be the last major central bank to pause the rate hike cycle, and even if inflation is finally brought under control, it may be the last central bank to start cutting interest rates. At present, the market is almost certain that the Bank of England will make progress at its meeting on September 21...

  If a year ago the world's leading central bankers had a choice of where the economy is today: inflation downgraded from a crisis to a minor problem, unemployment still low and growth slowing but not stagnating, they would have accepted it without hesitation. But that does not mean anyone will declare mission accomplished at this week's Jackson Hole annual meeting. One of the fragile backdrops facing this year's meeting is that the US is the best-performing of all the major economies, but according to the latest adjustments...

  First, the monthly trend summary Since late July, the US PMI, employment, inflation and other economic data have successively rebounded slightly, and the real GDP performance in the second quarter has greatly exceeded market expectations. At the same time, the Federal Reserve's July interest rate decision meeting raised interest rates by 25bp as expected by the market, and Federal Reserve Chairperson Powell handed over future interest rate decisions to data decisions. The market has resumed correcting interest rate path expectations. It is expected that the year will likely enter a lull cycle, with the earliest 20...

  ATFX Capital [Today's Preferred] Australian LNG workers plan to strike within 7 days. The US Securities and Exchange Commission appealed the ruling of Ripple. Bank of America: Prepare for the return of US bond yields of 5%. India plans to ban the export of lithium, beryllium, niobium, tantalum and other rare metals. The Securities Supervision Commission determines a package of policy measures for active capital markets. The central bank and other three departments: coordinate and coordinate financial support. Local debt risk resolution work. Shanghai, Shenzhen and North Exchange further reduce securities trading processing fees. Brokers will submit commissions...

  Over the past week, data showed that the US economy continued to maintain strong momentum. Retail sales data and manufacturing data rose unexpectedly, while residential construction continued to maintain strong momentum. In addition, meeting notes acknowledged the resilience of the economy, continuing to emphasize the Committee's determination to bring inflation back to its 2% target and sending 10-year Treasury yields to a 15-year high this week. Next week's economic data will be relatively light, with the PMI reports released by major economies being more important. But...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on August 21, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market will be 7.1987 yuan for 1 US dollar, 7.9051 yuan for 1 euro, 5.0164 yuan for 100 yen, 0.91911 yuan for 1 Hong Kong dollar, 9.2650 yuan for 1 pound, 4.6674 yuan for 1 Australian dollar, and 4.6674 yuan for 1 New Zealand dollar.