EUR/USD
1.16327
0.348%
Gold
4194.07
-0.034%
Oil
58.956
0.848%
USD/JPY
154.373
-0.282%
GBP/USD
1.31864
0.407%
GBP/JPY
203.578
0.142%
Real-time News
The U.S. Consumer Product Safety Commission has announced a recall of approximately 10,500 Powerwall 2 AC battery storage systems by Tesla. The company has received 22 reports of overheating, but no injuries have been reported.The U.S. Consumer Product Safety Commission has recalled Tesla (TSLA.O) Powerwall 2 AC battery power systems due to a fire and combustion hazard.On November 13th, Federal Reserve Chairwoman Mary Daly acknowledged that the Feds balance sheet has faced considerable criticism. She believes this makes clear communication about the Feds actions and intentions regarding its bond holdings particularly important. Daly stated, "The public is often unclear about why central bank balance sheets change. This makes communication crucial, requiring acknowledging their multiple uses and, where possible, identifying how each use drives balance sheet growth." Her comments come as the Fed nears the end of its three-year balance sheet reduction program and faces the potential need to resume bond purchases—not to stimulate the economy, but to align the supply of bank reserves with the needs of the financial system.On November 13th, Marc Cogliatti, an analyst at Validus Risk Management, stated in a report that the US dollar will continue to face weakness in the medium to long term. He believes that despite a decline since President Trump took office in January, the dollar remains overvalued. Trump has also been advocating for significant interest rate cuts. Although this has not yet materialized, concerns about the Federal Reserves independence have weighed on market sentiment. Furthermore, he stated that the ever-expanding deficit has long been a potential destabilizing factor in the US debt market. He said that while markets rarely move in straight lines and experience periods of consolidation, any recovery in the dollar is likely to be short-lived.U.S. stocks opened lower on Thursday, potentially ending a four-day winning streak as investors grappled with the lack of U.S. economic data despite the end of the government shutdown. Carol Schleif, chief market strategist at BMO Private Wealth, said the government reopening was a "positive" for the market. "If the government resumes operations and economic data starts being released, we wouldnt be surprised by market volatility in the coming weeks." Thursdays decline came as traders focused on the December Federal Reserve meeting, reducing their bets on a rate cut. Collins indicated she prefers to "keep rates stable for a period" to balance inflation and employment risks. Bostic also stated that inflation remains a clearer risk to the U.S. economy. "With the end of the U.S. government shutdown and the continued hawkish repricing expected by the Fed, the market struggled to gain momentum this morning," said Karl Schamotta, chief market strategist at Corpay.
