Month: November 2024

TKL: Current situation

Stocks are rising like the bull market just started Bitcoin is set to cross $100,000 for the first time in history Nvidia, NVDA, just went from red to green and is now worth $3.7 trillion Oil prices are back above $70 like a recession was avoided Gold prices are nearing $2700 for the first time since Election Day Volatility, VIX, is down 30% from the October highs The post-election rally is back. submitted by /u/XGramatik [link] [comments]

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Economists see Russian inflation exceeding the central bank’s 2024 estimate

https://preview.redd.it/plmotll70b2e1.png?width=800&format=png&auto=webp&s=40fa453cbb1e4a5fcb7381cfc39e8840b344a44a Leading Russian economists expect inflation in Russia to exceed the central bank’s estimate for this year, increasing the likelihood of another aggressive benchmark interest rate hike next month. Consumer prices rose by 0.37% in the latest week, according to statistical data, pushing the headline figure since the start of the year to 7.4%, close to the central bank’s full-year inflation estimate of 8.0-8.5%. “There is a real threat that inflation will exceed the October forecast of the central bank, prompting the regulator to aggressively raise the key rate again in December, this time to 23%,” said Denis Popov from PSB Bank. Reuters collected the views of 10 economists for this story. The central bank hiked its benchmark rate to 21% in October, stating that a tight monetary policy was needed to combat inflation. The move prompted a barrage of criticism from business leaders who said it was stifling investment and credit. The October upward revision of the full-year inflation estimate was the third publicly known this year by the central bank. Some critics argued that the monetary measures had little or no impact on inflation while dampening growth and leading to stagflation, a phenomenon that combines a high inflation rate with economic stagnation. Dmitry Polevoy from Astra Asset Manager said that if the central bank’s rate-setting meeting took place tomorrow, a hike to 23% would be certain. “Given the current macroeconomic inputs, everything looks extremely unfavorable for the central bank,” Polevoy said, predicting full-year inflation to exceed 9%. Inflation was fueled by rises in prices for potatoes, butter, sunflower oil, dairy products, and imported fruits. Prices for potatoes, a staple food for many Russians, have risen by 74% since last December. The central bank, in its reports, blamed bad weather, which affected crops, poor logistics, a weakening rouble, and increased costs, such as for raw materials and labor, for high inflation. The government, on its part, is trying to increase imports of some key food products, like butter, lower export barriers, limit or ban some exports, and help improve logistics to contain price growth. Despite this concerted effort, inflation keeps rising. “The current growth trajectory is unfolding above the forecast of the Bank of Russia,” said Renaissance Capital analysts. They added that if inflation is above 9% by mid-December, the regulator will respond by hiking the rate to 23%.ond by hiking the rate to 23%. submitted by /u/Pllover12 [link] [comments]

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Nicaragua plans to build a new interoceanic canal as an alternative to the Panama Canal. Ha! Epic. Nicaragua? Build? An alternative to the Panama Canal?

At a recent summit focused on strengthening trade between China and Latin America, Nicaragua announced its plans to construct a new Grand Interoceanic Canal. The proposed route aims to provide an alternative to the Panama Canal, which has been facing challenges due to low water levels. The 445-kilometer canal would pass through Lake Nicaragua, connecting the Pacific and Atlantic Oceans. With a width of 290 to 540 meters and a depth of 27 meters, the canal is designed to accommodate large modern vessels. This initiative has the potential to become a significant infrastructure project, enhancing economic ties between China and the Caribbean nations. https://preview.redd.it/4c0qa6dbea2e1.png?width=1280&format=png&auto=webp&s=be50a45aeb4c5be440370d6f76ffa98ccea35754 submitted by /u/XGramatik [link] [comments]

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EUR/CHF Price Prediction: Falling lower after break out from Triangle pattern

Bloomberg: EUR/CHF falls lower after breaking out of a Triangle pattern. It will probably continue to decline until it reaches the next downside target, which has been revised up to 0.9145 – 0.9150. This is the 61.8% Fibonacci extrapolation of the height of the Triangle lower, the target generated using technical analysis theory. EUR/CHF Daily Chart The bearish trend prior to the formation of the Triangle (Since May 27) further tips the odds in favor of a downside evolution. Another potential support level and more conservative target is the key August 5 low at 0.9210. submitted by /u/Denchock [link] [comments]

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