Dollar Climbs Higher as Global Interest Rate Policies Diverge

The dollar is on track for its second consecutive week of gains, showcasing its resilience and strength in the global currency market. This week has witnessed a significant shift in global monetary policy, with various major central banks adjusting their interest rate policies. Notably, even Japan's rate hike and Switzerland's unexpected rate cut have not slowed the dollar's ascent. These developments underscore the widening disparity in interest rate strategies between the Federal Reserve and other global central banks, further bolstering the dollar's position.

Read more ...

Kazakhstan Bolsters Its Economy with a Gold-Heavy Reserve Strategy

Over the past decade, Kazakhstan has significantly altered the composition of its gold and foreign exchange reserves, according to a report by LS. As of February 2024, the National Bank of Kazakhstan reported the country's total reserves at $36.1 billion, a 38.6% increase from $26.05 billion in 2014. This growth is characterized by a decrease in foreign currency assets by $4 billion and a remarkable increase in gold reserves by 3.2 times—from $6.3 billion in February 2014 to $20.01 billion in 2024.

Read more ...

ZeroHedge: Price Inflation Accelerates for Second Month as Biden Blames "Greed"

The Bureau of Labor Statistics reports a continued increase in the Consumer Price Index (CPI) inflation rate, marking a 3.2% rise year over year in February. This marks the 36th consecutive month where inflation has surpassed the Federal Reserve's 2% target. Contrary to earlier predictions, the recent data suggests that the inflationary trend is not as temporary as previously thought.

Read more ...

S&P 500 Hits 20th Record Record High in 2024

The S&P 500 marked its 20th record high of the year, propelled by a surge in risk appetite among investors. Despite experiencing declines in major technology firms like Apple Inc. and Alphabet Inc., the index's overall momentum remained robust. Concurrently, the Nasdaq 100 achieved a new peak, partly thanks to a positive outlook from Micron Technology Inc. Moreover, Reddit Inc. experienced a notable surge in its market debut. This market enthusiasm comes in the wake of encouraging data across housing, manufacturing, and the labor market, suggesting a sturdy economy.

Read more ...

Turkish Investors Flock to Dollars and Gold Amid Lira's Decline

In response to staggering inflation rates of 67%, Turks are increasingly seeking refuge in the stability of the dollar, gold, and stocks, moving away from the rapidly depreciating Turkish lira. In the bustling environment of Istanbul’s Grand Bazaar, traders congregate in what's known as a “standing market,” a vibrant hub resembling a stock exchange floor, to exchange precious metals and currencies. The current economic climate has severely undermined confidence in the Turkish lira, prompting individuals like trader Adnan Kapukaya to declare the national currency as "almost worthless." This dramatic shift in preference underscores the public's loss of faith in the lira due to unrelenting inflation and their consequent pivot towards more reliable assets.

Read more ...