Saturday, February 17, 2024
Dollar firms as traders weigh economic data, 17 FEB
Dollar firms as traders weigh economic data
Shafaq News /The dollar firmed on Friday, on track for its fifth straight weekly gain, as investors assessed the latest economic data and firm expectations of the Federal Reserve cutting rates in June.
The dollar index, which measures the US currency against six major rivals, was up 0.13% at 104.40 on Friday, having eased 0.4% on Thursday. The index is on course to eke out a 0.3% gain for the week, its fifth in a row.
The dollar slipped on Thursday after mixed US data, with retail sales falling more than expected in January, while a separate report underscored labor market tightness.
"We have seen how US activity is starting to show some softening and the USD momentum is taking a breather," said Christopher Wong, a currency strategist at OCBC in Singapore.
"A softer read on PPI today should see USD ease. But overall market expectations on the timing of the first Fed cut and magnitude of the cut will continue to drive volatility in FX markets."
A string of strong US data has quashed any lingering expectations of early and deep rate cuts from the Fed, with traders now pricing in an 80% chance of a rate cut in June, according to the CME FedWatch tool.
Markets had initially priced in March as the starting point of the Fed's easing cycle.
Traders now expect 94 basis points (bps) of cuts this year, nearer to the Fed's own projection of 75 bps of easing and drastically lower than the 160 bps of cuts priced in at the end of 2023.
Federal Reserve Bank of Atlanta President Raphael Bostic said on Thursday that while the US central bank had made a lot of progress lowering inflation pressures, ongoing risks mean that he was not yet ready to call for interest rate cuts.
REUTERS
"IMPORTANT IRAQ NEWS: TRAFFIC: IT WAS DECIDED TO TRANSFER ALL FINANCIAL TRANSACTIONS ELECTRONICALLY IN BAGHDAD AND THE GOVERNORATES" BY MNT GOAT, 17 FEB
TRAFFIC: IT WAS DECIDED TO TRANSFER ALL FINANCIAL TRANSACTIONS ELECTRONICALLY IN BAGHDAD AND THE GOVERNORATES
Today, Thursday (February 15, 2024), the General Traffic Directorate decided to transfer all financial transactions electronically in Baghdad and the governorates.
The directorate said in a statement received by “Baghdad Today” that, “For the purpose of simplifying procedures and working on real steps related to automation, it was decided to transfer all financial transactions electronically through the ( POS ) system in traffic departments in Baghdad and all governorates instead of cash dealing.”
The statement added, “This step will contribute to supporting the work of the government and the Iraqi banking system,” calling on citizens to “issue a MasterCard that contains a financial balance for the purpose of deducting the fees required for any transaction and without any commission.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/Al-Sudani concludes his visit to the Netherlands and heads to Germany to participate in the Munich Security Conference
Prime Minister Muhammad Shiaa Al-Sudani headed to Germany to participate in the Munich Security Conference 2024 after concluding his official visit to the Netherlands.
The Munich Security Conference is an annual meeting of heads of state and government, military commanders, heads of security and intelligence services, and senior diplomats from all over the world, to discuss the most pressing issues related to international security
The 2024 edition begins tomorrow, Friday, and continues until the 18th of the same month, in Munich, the third largest city in Germany.
As conflicts rage on more than one front around the world, a number of issues top the conference’s agenda, most notably the war in the Gaza Strip and Ukraine, cybersecurity, artificial intelligence, climate change, and the impact of political unrest.
"ANALYSIS OF IRAQ NEWS:: ANBAR.. “MASSIVE” MONEY LAUNDERING OPERATIONS REVEALED AND LEADERS BROUGHT UNDER “INDICTMENT” BY MNT GOAT, 17 FEB
ANBAR.. “MASSIVE” MONEY LAUNDERING OPERATIONS REVEALED AND LEADERS BROUGHT UNDER “INDICTMENT”
Information / Anbar… The Secretary-General of the Popular Movement for Reform in Anbar Governorate, Dhari Abu Risha, revealed on Monday that the city of Ramadi recorded “massive” money laundering operations, in relation to the leaders of the Taqadum Party.
Abu Risha said in a statement to the Maalouma Agency, “The city of Ramadi witnessed money laundering operations through banking offices run by figures supported by the leaders of the Taqaddam Party.”
He added, “One of the leaders of the Taqadum Party smuggled about $25 million from the city of Ramadi to the Gulf states, in addition to recording other laundering operations, the details of which were not revealed,” noting that “Anbar is witnessing unprecedented financial inflation for the leaders of the ruling party.”
He explained that “distinctive places in the streets of the city of Ramadi were seized by the leaders of the ruling party, and the central government must open the file of money laundering and its inflation among some of the leaders of the Taqadum Party after they became in possession of large capitals comparable to the province’s merchants.”
Abu Risha continued, saying, “Anbar witnessed embezzlement of state funds and reconstruction projects that went into the pockets of the ruling party led by the ousted President Muhammad al-Halbousi.”
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/
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