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Mexico's Minimum Wage Hike Undermined by Peso Depreciation
Postet: 04.12.2024
Mexico has announced a 12% increase in its minimum wage, raising it to 279 pesos per day starting January 1, 2025. Despite this nominal increase, the depreciation of the Mexican peso by 18% over the past year means that the wage effectively decreases in dollar terms, now equating to about $13.75 per day compared to $14.25 last year. This adjustment, decided by a commission including government, labor, and business representatives, aims to counteract domestic inflation, which is currently around 4.75%. However, the new wage still falls short when compared to U.S. minimum wages.
Wall Street Bullish on US Economy for 2025
Postet: 04.12.2024
Major financial institutions are predicting strong economic growth for the US in 2025, with forecasts exceeding current consensus estimates. Wells Fargo leads with the highest S&P 500 target of 7,007, while Bank of America projects 2.4% GDP growth. Analysts expect a shift from tech dominance to broader market participation, favoring value stocks and GDP-sensitive sectors.
Gold Holds Ground as Global Political Tensions Rise
Postet: 04.12.2024
Gold prices stabilized around $2,635 an ounce as investors evaluated political unrest in South Korea and France. Despite a 5% decline from October's record high, gold remains up 28% this year, supported by US monetary easing and central bank purchases. Upcoming US jobs data and the Federal Reserve's December meeting are key factors influencing gold's near-term outlook, with a potential 25-point rate cut expected.
Why "$9000 Gold Is An ABSURDLY LOW PRICE" - Mike Maloney LIVE at Limitless
Postet: 03.12.2024
Mike Maloney, bestselling author and expert on precious metals, reveals why he believes that $9,000 per ounce of gold may be an “absurdly low”
China Retaliates Against US Chip Sanctions with Ban on Key Minerals
Postet: 03.12.2024
China has banned exports of gallium, germanium, antimony, and other high-tech materials to the United States in response to recent US semiconductor export restrictions. This move escalates the ongoing trade tensions between the two nations, as these materials are crucial for various technological and military applications. The ban, effective immediately, also includes stricter controls on graphite exports and covers superhard materials used in industrial applications.
Fed Officials Signal Potential December Rate Cut
Postet: 03.12.2024
Top Fed policymakers have hinted at the possibility of a December interest rate cut while maintaining flexibility in their approach. Christopher Waller, John Williams, and Raphael Bostic all indicated that rate reductions are likely in the coming year, but they stopped short of guaranteeing a cut at the December meeting. The officials emphasized the importance of upcoming economic data in shaping their decision, highlighting the Fed's data-dependent strategy.
Gold Retreats as Dollar Climbs; US Jobs Report Looms
Postet: 03.12.2024
Gold prices retreated as the dollar strengthened, with investors eagerly anticipating Friday's US jobs data for insights into the Federal Reserve's next move. Trading around $2,640 an ounce after a 2.7% drop last week, gold faced pressure from a stronger dollar and reduced safe-haven demand following a Middle East ceasefire. However, ongoing geopolitical tensions and expectations of potential rate cuts continue to support gold's overall bullish trend.
Gold Set for Biggest Monthly Fall in 14 Months
Postet: 02.12.2024
Gold prices rose on Friday due to a weaker dollar and geopolitical tensions, but are still set for their largest monthly decline since September 2023. The 3% drop in November is attributed to Donald Trump's election victory, which sparked a dollar rally and expectations of higher interest rates. Despite Friday's gains, gold remains on track for a 2% weekly fall, with investors now eyeing upcoming U.S. economic data for clues on future Fed rate decisions.
Barnier's Budget Gamble: French Government on the Brink
Postet: 02.12.2024
French Prime Minister Michel Barnier invoked Article 49.3 to push through a controversial budget bill without parliamentary approval. This move allows the social security bill to pass but exposes Barnier's government to potential no-confidence votes, which could lead to its dissolution within days.
The End of Fed's Expansive Era? Powell's Back-to-Basics Approach
Postet: 02.12.2024
The Federal Reserve, under Jerome Powell's leadership, is shifting from its expansive role during recent crises to a more traditional focus on interest rates and inflation control. This transition marks a return to "plain vanilla" central banking, potentially making monetary policy less dramatic but more stable. The change comes as the economy stabilizes and inflation shows signs of control, possibly reducing the Fed's prominence in economic policymaking.