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Adapting the classic 1974 horror movie, The Texas Chainsaw Massacre, into an asymmetrical multiplayer game might seem strange at first glance, especially when the team setup isn’t the same 4v1 we’ve grown accustomed to with the popular Dead by Daylight. but the even stranger 4v3. In practice, however, it works exceptionally well, creating a tense, team-based, tactical multiplayer experience that favors intelligence over force. Whether you’re in the team of four victims trying to escape or the trio of the Serial Killer Family trying to take them down, Texas Chain Saw Massacre’s adjustment to the asymmetrical multiplayer format is already great, and the 4v3 format fits perfectly with the license of the film on which it is based.
Developer/publisher Gun Interactive promises more maps for release next year, but for this test session I’ve played half a dozen rounds in the most recognizable location from The Texas Chainsaw Massacre: the rural Texas house in which the film takes place. Victims start in the basement, and teamwork is encouraged and, dare I say, vital; There are only a few ways out of the basement and only two ways out of the house once you get upstairs. In other words, there are only two ways to win. Yes, only two, because the Victims cannot kill the Family, but only stun it, which affects the balance of power even more. However, they can slip through narrow gaps in walls, and dodge barbed wire traps.
In the meantime, characters on both sides have unique abilities. While the Cook can listen carefully for non-stealth Victims and add locks to doors for the Family, making it take Victims longer to get through, Connie, for example, has a unique ability to break a lock instantly. This can literally mean the difference between victory and defeat, as in my last round, I was chasing after Connie as she headed out the backyard gate; I wish I had pictures of this. In any case, she was the last victim left standing after stabbing all of her friends. However, my resistance was exhausted and Connie reached the door just before I did. And thanks to that ability that she had been keeping until the last moment, she immediately broke the lock, passed through the door and escaped triumphantly. Without that advantage, she would have had plenty of time to claim one last kill and victory for me.
I reveled in Leatherface’s ability to rev his chainsaw, and how that is tied into the power of his attacks.
For his part, the Leatherface of the franchise is big and not at all agile. But you can use your chainsaw to cut through doors and destroy crawl space entrances and exits so victims have fewer navigation options. I reveled in his ability to rev his chainsaw, and how that is tied into the power of his attacks. If you hit a victim with the chainsaw without revving it, you’ll deal some damage. If you accelerate it too much and for too long, it will get stuck. But if you hit the sweet spot of the rev range, you’ll get a one-hit kill, with a quick, creepy cutscene. (Note that you can also disable the chainsaw to move more stealthily.) From my own experience, I can say that this is immensely satisfying. Also, by stirring her up as she goes through the house he allows her to strike terror into the hearts and minds of the victims very loudly. She is my favorite character so far.
Finally, the Hitchhiker is the most skilled and cunning of the trio of serial killers. He can get through the same cracks and crevices as the victims, and I made sure to use his agility to get into the front yard when the game started, turning on the gas generator that powers the electrified security system that guards the path. You can also set traps that slow down Victims, either by trapping them directly or placing them in places where teens have to spend time disabling them.
Grandpa is the non-playable member of the family who acts as a kind of all-seeing eye, and the blood you feed him levels him up.
The three members of the family know how to collect blood from the house, as well as from the victims, to feed grandpa, the non-playable member of the family who acts as an all-seeing eye of sorts, as the blood you give him levels him up. He will occasionally yell and mark any victim that moves the moment he yells. And speaking of leveling up, there’s a huge persistent skill tree that I didn’t get to play with in this single demo session, but which promises to let you tailor your respective Victim and Family skills to your liking.
I admit that I enjoyed playing with the Family more than with the Victims in my first rounds. I had a blast trying to outsmart them despite being outnumbered. But there’s no doubt that teamwork and coordination will pay off for good Victims players, like when one of them goes to the top floor of the house and restores power to the basement exit, allowing his teammates to of equipment another way of escape. In addition, victims can hide in the dark corners of the house, in the bushes outside and sneak quietly so as not to make much noise and alert the family. As the developer who guided me said: “Just leaving a door open can hurt you in this game.”
The sheer number of tactics at play between these two contrasting sides is impressive. More laudable is how well Texas Chain Saw Massacre plays right now, even though its release date isn’t until sometime next year. The movie license hasn’t just been pasted onto the game like a bauble. On the contrary, it feels like a great matchup, and I can’t wait to play more. | https://thenewstrace.com/we-tried-texas-chain-saw-massacre-and-the-dead-by-daylight-style-game-of-the-texas-chainsaw-massacre-points-out-ways/254220/ | 2022-09-22T07:36:54 | en | 0.973931 |
WFO BUFFALO Warnings, Watches and Advisories for Thursday, September 22, 2022
_____
SEVERE THUNDERSTORM WARNING
Severe Weather Statement
National Weather Service Buffalo NY
245 AM EDT Thu Sep 22 2022
...THE SEVERE THUNDERSTORM WARNING FOR CAYUGA COUNTY IS CANCELLED...
The storm which prompted the warning has moved out of the area.
Therefore, the warning has been cancelled.
...A strong thunderstorm will impact portions of northeastern Cayuga
and southwestern Onondaga Counties through 315 AM EDT...
At 246 AM EDT, Doppler radar was tracking a strong thunderstorm over
Skaneateles, or near Auburn, moving east at 40 mph.
HAZARD...Wind gusts up to 40 mph.
SOURCE...Radar indicated.
IMPACT...Gusty winds could knock down tree limbs and blow around
unsecured objects.
Locations impacted include...
Onondaga, Syracuse, De Witt, Owasco, Otisco, Skaneateles, Marcellus,
Elbridge, Tully and La Fayette.
This includes the following highway exits...
New York Interstate 81 between 14 and 16.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
If outdoors, consider seeking shelter inside a building.
LAT...LON 4286 7652 4302 7652 4304 7606 4278 7611
TIME...MOT...LOC 0646Z 273DEG 36KT 4294 7648
MAX HAIL SIZE...0.00 IN
MAX WIND GUST...40 MPH
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/NY-WFO-BUFFALO-Warnings-Watches-and-Advisories-17458677.php | 2022-09-22T07:36:56 | en | 0.823227 |
WFO BURLINGTON Warnings, Watches and Advisories for Thursday, September 22, 2022
_____
SEVERE THUNDERSTORM WARNING
Severe Weather Statement
National Weather Service Burlington VT
213 AM EDT Thu Sep 22 2022
...THE SEVERE THUNDERSTORM WARNING FOR EAST CENTRAL ST. LAWRENCE
COUNTY IS CANCELLED...
The severe thunderstorm which prompted the warning has moved out of
the warned area. Therefore, the warning has been cancelled but other
storms remain upstream and will need to be monitored closely for
strong gusty winds and lightning.
...A SEVERE THUNDERSTORM WARNING REMAINS IN EFFECT UNTIL 230 AM EDT
FOR SOUTHWESTERN CLINTON...EAST CENTRAL FRANKLIN AND NORTHWESTERN
ESSEX COUNTIES...
At 212 AM EDT, a severe thunderstorm was located over Bloomingdale,
moving east at 60 mph.
HAZARD...60 mph wind gusts and penny size hail.
SOURCE...Radar indicated.
IMPACT...Expect damage to trees and powerlines.
Locations impacted include...
Saranac Lake, Wilmington, Au Sable Forks, Jay In Essex County,
Harrietstown, Black Brook, Hawkeye, Union Falls, Lake Colby, Rainbow
Lake, Gabriels, Onchiota, Vermontville, Franklin Falls, Alder Brook,
North Jay, Bloomingdale and Ausable Forks.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
For your protection move to an interior room on the lowest floor of a
building.
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/NY-WFO-BURLINGTON-Warnings-Watches-and-17458650.php | 2022-09-22T07:37:02 | en | 0.847047 |
WFO BURLINGTON Warnings, Watches and Advisories for Thursday, September 22, 2022
_____
SPECIAL WEATHER STATEMENT
Special Weather Statement
National Weather Service Burlington VT
222 AM EDT Thu Sep 22 2022
...A strong thunderstorm will impact portions of southwestern
Franklin, southeastern St. Lawrence and northwestern Essex Counties
through 315 AM EDT...
At 222 AM EDT, Doppler radar was tracking a strong thunderstorm over
Star Lake, moving east at 40 mph.
HAZARD...Winds in excess of 40 mph and pea size hail.
SOURCE...Radar indicated.
IMPACT...Gusty winds could knock down tree limbs and blow around
unsecured objects. Minor damage to outdoor objects is
possible.
Locations impacted include...
Tupper Lake, Adirondack Regional Airport, Saranac Lake, Oswegatchie,
Piercefield, Wawbeek, Horseshoe Lake, Cranberry Lake, Star Lake,
Harrietstown, Conifer, Saranac Inn, Ray Brook, Lake Clear, Upper
Saint Regis, Gale, Newton Falls, Childwold, Shurtleff and Upper St.
Regis.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
If outdoors, consider seeking shelter inside a building.
LAT...LON 4444 7412 4411 7400 4409 7428 4412 7428
4405 7507 4411 7520 4421 7522
TIME...MOT...LOC 0622Z 259DEG 34KT 4416 7497
MAX HAIL SIZE...0.25 IN
MAX WIND GUST...40 MPH
...THE SEVERE THUNDERSTORM WARNING FOR NORTHEASTERN ONTARIO COUNTY IS
CANCELLED...
The severe thunderstorm which prompted the warning has moved out of
the warned area. Therefore, the warning has been cancelled.
...A SEVERE THUNDERSTORM WARNING REMAINS IN EFFECT UNTIL 300 AM EDT
FOR SOUTHEASTERN WAYNE AND CAYUGA COUNTIES...
At 223 AM EDT, a severe thunderstorm was located over Montezuma, or 7
miles northeast of Seneca Falls, moving east at 45 mph.
HAZARD...60 mph wind gusts and penny size hail.
IMPACT...Expect damage to trees and power lines.
Clyde, Weedsport, Savannah and Port Byron.
This includes Interstate 90 near exit 40.
For your protection move to an interior room on the lowest floor of a
building.
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/NY-WFO-BURLINGTON-Warnings-Watches-and-17458655.php | 2022-09-22T07:37:08 | en | 0.832301 |
WFO BURLINGTON Warnings, Watches and Advisories for Thursday, September 22, 2022
_____
SEVERE THUNDERSTORM WARNING
Severe Weather Statement
National Weather Service Burlington VT
227 AM EDT Thu Sep 22 2022
...THE SEVERE THUNDERSTORM WARNING FOR SOUTHWESTERN CLINTON...EAST
CENTRAL FRANKLIN AND NORTHWESTERN ESSEX COUNTIES WILL EXPIRE AT 230
AM EDT...
The storm which prompted the warning has weakened below severe
limits, and no longer poses an immediate threat to life or property.
Therefore, the warning will be allowed to expire.
Other thunderstorms are moving across southern St. Lawrence county
with lightning, brief heavy rain and potential wind gusts in excess
of 40 mph and these may threaten this area around or just after 3
am.
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/NY-WFO-BURLINGTON-Warnings-Watches-and-17458661.php | 2022-09-22T07:37:15 | en | 0.850063 |
WFO BURLINGTON Warnings, Watches and Advisories for Thursday, September 22, 2022
_____
SEVERE THUNDERSTORM WARNING
The National Weather Service in Burlington has issued a
* Severe Thunderstorm Warning for...
Northeastern Clinton County in northern New York...
North central Lamoille County in northwestern Vermont...
Northwestern Orleans County in northeastern Vermont...
Central Grand Isle County in northwestern Vermont...
Northwestern Chittenden County in northwestern Vermont...
Franklin County in northwestern Vermont...
* Until 345 AM EDT.
* At 239 AM EDT, a severe thunderstorm was located Jericho and
Beekmantown Point, moving east at 55 mph.
HAZARD...60 mph wind gusts and quarter size hail.
SOURCE...Radar indicated.
IMPACT...Minor hail damage to vehicles is possible. Expect wind
damage to trees and powerlines.
* Locations impacted include...
Plattsburgh, Newport City, Beekmantown, Chazy, Enosburg Falls,
Orleans, Franklin, Jay, Newport Town, Jay In Franklin County,
Montgomery Center, Montgomery, St. Albans City, Troy, Sheldon,
Enosburg, Swanton, Irasburg, Newport Center and Grand Isle.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
For your protection move to an interior room on the lowest floor of a
building.
...THE SEVERE THUNDERSTORM WARNING FOR NORTHWESTERN CAYUGA COUNTY
WILL EXPIRE AT 245 AM EDT...
The storm which prompted the warning has weakened below severe
limits, and no longer poses an immediate threat to life or property.
Therefore, the warning will be allowed to expire.
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/NY-WFO-BURLINGTON-Warnings-Watches-and-17458671.php | 2022-09-22T07:37:21 | en | 0.864579 |
TX Midland/Odessa TX Zone Forecast for Wednesday, September 21, 2022
_____
876 FPUS54 KMAF 220713
ZFPMAF
Zone Forecast Product for Texas
National Weather Service Midland/Odessa TX
213 AM CDT Thu Sep 22 2022
Zone forecast text represents an average of conditions over an
entire zone. For point-specific forecasts, please refer to the
Point Forecast Matrices product, issued by the National Weather
Service Office in Midland/Odessa, WMO header FOUS54 KMAF.
TXZ061-062-222115-
Ector-Midland-
Including the cities of Odessa and Midland
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs around 90. Southeast winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. Southeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs around 90. South winds 10 to 15 mph.
.FRIDAY NIGHT...Clear. Lows in the mid 60s. South winds 10 to
15 mph.
.SATURDAY...Sunny. Highs in the lower 90s. South winds 10 to
15 mph.
.SATURDAY NIGHT...Mostly clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs around 90.
.SUNDAY NIGHT...Mostly clear. Lows in the mid 60s.
.MONDAY...Sunny. Highs in the upper 80s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Clear. Lows in the lower 60s.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ045-046-050-051-222115-
Gaines-Dawson-Andrews-Martin-
Including the cities of Seminole, Lamesa, Andrews, and Stanton
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs around 90. Southwest winds 5 to 10 mph,
becoming southeast 10 to 15 mph this afternoon.
.TONIGHT...Mostly clear. Lows in the lower 60s. Southeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs around 90. South winds 10 to 15 mph.
.FRIDAY NIGHT...Clear. Lows in the mid 60s. South winds 10 to
15 mph.
.SATURDAY...Sunny. Highs in the lower 90s. South winds 10 to
15 mph.
.SATURDAY NIGHT...Mostly clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs around 90.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. Highs in the mid 80s.
.MONDAY NIGHT...Clear. Lows around 60.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ047-048-052-053-222115-
Borden-Scurry-Howard-Mitchell-
Including the cities of Gail, Snyder, Big Spring,
and Colorado City
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. West winds 5 to 10 mph,
becoming east this afternoon.
.TONIGHT...Mostly clear. Lows in the mid 60s. Southeast winds
5 to 10 mph, becoming south after midnight.
.FRIDAY...Sunny. Highs in the mid 90s. Southwest winds 10 to
15 mph.
.FRIDAY NIGHT...Clear. Lows in the mid 60s. South winds 10 to
15 mph.
.SATURDAY...Sunny. Highs in the mid 90s. South winds 10 to
15 mph.
.SATURDAY NIGHT...Mostly clear. Lows in the upper 60s.
.SUNDAY...Sunny. Highs in the lower 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the mid 60s.
.MONDAY...Sunny. Highs in the upper 80s.
.MONDAY NIGHT...Clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Clear. Lows around 60.
.WEDNESDAY...Sunny. Highs in the upper 80s.
$$
NMZ033-034-222115-
Central Lea County-Southern Lea County-
Including the cities of Hobbs, Lovington, Eunice, and Jal
113 AM MDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the upper 80s. Southeast winds 10 to
15 mph.
.TONIGHT...Mostly clear. Lows in the lower 60s. Southeast winds
10 to 15 mph.
.FRIDAY...Sunny. Highs in the upper 80s. South winds 10 to 15 mph
with gusts up to 25 mph.
.FRIDAY NIGHT...Clear. Lows in the lower 60s. South winds 10 to
15 mph with gusts up to 25 mph.
.SATURDAY...Sunny. Highs in the lower 90s. South winds 5 to
10 mph.
.SATURDAY NIGHT...Mostly clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the upper 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. Highs in the mid 80s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the mid 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ270-222115-
Guadalupe Mountains Above 7000 Feet-
Including the city of Guadalupe Mountains NP
113 AM MDT Thu Sep 22 2022
.TODAY...Sunny, cooler with highs in the mid 70s. East winds
10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the mid 50s. Southeast winds
10 to 15 mph with gusts up to 25 mph.
.FRIDAY...Sunny. Highs in the mid 70s. South winds 5 to 10 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the mid 50s. South winds
around 10 mph.
.SATURDAY...Sunny. Highs in the mid 70s. West winds 5 to 10 mph.
.SATURDAY NIGHT...Mostly clear. Lows in the upper 50s.
.SUNDAY...Mostly sunny. Highs in the lower 70s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 50s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 60s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 50s.
.TUESDAY...Sunny. Highs around 70.
.TUESDAY NIGHT...Mostly clear. Lows in the lower 50s.
.WEDNESDAY...Sunny. Highs around 70.
$$
TXZ271-222115-
Guadalupe and Delaware Mountains-
Including the cities of Guadalupe Mountains NP and Pine Springs
213 AM CDT Thu Sep 22 2022 /113 AM MDT Thu Sep 22 2022/
.TODAY...Sunny. Highs in the lower 80s. East winds 10 to 20 mph.
.TONIGHT...Mostly clear. Lows in the upper 50s. Southeast winds
10 to 15 mph with gusts up to 25 mph.
.FRIDAY...Sunny. Highs in the lower 80s. South winds 10 to
15 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the lower 60s. Southeast
winds 5 to 10 mph, becoming south 10 to 15 mph after midnight.
.SATURDAY...Sunny. Highs in the mid 80s. West winds 10 to 15 mph.
.SATURDAY NIGHT...Mostly clear. Lows in the lower 60s.
.SUNDAY...Sunny. Highs in the lower 80s.
.SUNDAY NIGHT...Mostly clear. Lows around 60.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 70s.
.MONDAY NIGHT...Mostly clear. Lows in the upper 50s.
.TUESDAY...Sunny. Highs in the upper 70s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the upper 70s.
$$
TXZ272-222115-
Van Horn and Highway 54 Corridor-
Including the city of Van Horn
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the upper 80s. East winds 10 to 15 mph
with gusts up to 25 mph.
.TONIGHT...Mostly clear. Lows in the lower 60s. East winds 10 to
15 mph, becoming southeast after midnight.
.FRIDAY...Sunny. Highs in the upper 80s. South winds 5 to 10 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the lower 60s. Southeast
winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the lower 90s. Southwest winds 5 to
10 mph, becoming northwest in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the lower 60s.
.SUNDAY...Sunny. Highs in the upper 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the lower 80s.
.MONDAY NIGHT...Mostly clear. Lows in the upper 50s.
.TUESDAY...Sunny. Highs in the mid 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ273-222115-
Eastern Culberson County-
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the upper 80s. Northeast winds 10 to
15 mph.
.TONIGHT...Mostly clear. Lows in the lower 60s. East winds 10 to
15 mph, becoming south 5 to 10 mph after midnight.
.FRIDAY...Sunny. Highs in the upper 80s. Southwest winds 5 to
10 mph with gusts up to 20 mph, becoming southeast in the
afternoon.
.FRIDAY NIGHT...Mostly clear. Lows in the lower 60s. Southeast
winds 5 to 10 mph, becoming south after midnight.
.SATURDAY...Sunny. Highs in the lower 90s. Southwest winds 5 to
10 mph, becoming northeast in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the upper 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the lower 80s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the mid 80s.
.TUESDAY NIGHT...Mostly clear. Lows around 60.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ274-222115-
Reeves County Plains-
Including the city of Pecos
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. East winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the lower 60s. Southeast winds
10 to 15 mph.
.FRIDAY...Sunny. Highs in the lower 90s. Southeast winds 5 to
10 mph.
.FRIDAY NIGHT...Clear. Lows in the lower 60s. Southeast winds
5 to 10 mph.
.SATURDAY...Sunny. Highs in the mid 90s. South winds 5 to 10 mph,
becoming northeast in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the lower 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the mid 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 80s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the lower 60s.
.WEDNESDAY...Sunny. Highs in the upper 80s.
$$
TXZ075-222115-
Pecos-
Including the city of Fort Stockton
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs around 90. Southeast winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the lower 60s. Southeast winds
10 to 15 mph.
.FRIDAY...Sunny. Highs around 90. South winds 10 to 15 mph.
.FRIDAY NIGHT...Clear. Lows in the mid 60s. Southeast winds 10 to
15 mph with gusts up to 25 mph.
.SATURDAY...Sunny. Highs in the lower 90s. Southeast winds 10 to
15 mph.
.SATURDAY NIGHT...Clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the lower 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the mid 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 80s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the lower 60s.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ082-222115-
Terrell-
Including the cities of Dryden and Sanderson
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs around 90. Southeast winds 5 to 10 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. Southeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs in the lower 90s. Southeast winds 10 to
15 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the mid 60s. Southeast
winds 10 to 15 mph.
.SATURDAY...Sunny. Highs in the lower 90s. Southeast winds 5 to
10 mph.
.SATURDAY NIGHT...Clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the lower 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the upper 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs around 90.
.MONDAY NIGHT...Mostly clear. Lows in the mid 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the mid 60s.
.WEDNESDAY...Sunny. Highs in the upper 80s.
$$
TXZ278-222115-
Davis Mountains Foothills-
Including the city of Alpine
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the mid 80s. South winds 5 to 10 mph,
becoming east 10 to 15 mph this afternoon.
.TONIGHT...Mostly clear. Lows in the lower 60s. Southeast winds
10 to 15 mph, becoming south after midnight.
.FRIDAY...Sunny. Highs in the mid 80s. Southwest winds 5 to
10 mph with gusts up to 20 mph, becoming southeast in the
afternoon.
.FRIDAY NIGHT...Clear. Lows in the lower 60s. Southeast winds
5 to 10 mph, becoming south 10 to 15 mph after midnight.
.SATURDAY...Sunny. Highs in the upper 80s. Southwest winds 10 to
15 mph, becoming north 5 to 10 mph in the afternoon.
.SATURDAY NIGHT...Clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the mid 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the lower 80s.
.MONDAY NIGHT...Mostly clear. Lows around 60.
.TUESDAY...Sunny. Highs in the lower 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the lower 80s.
$$
TXZ277-222115-
Davis Mountains-
Including the city of Fort Davis
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 80s. East winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the upper 50s. Southeast winds
10 to 20 mph.
.FRIDAY...Sunny. Highs in the lower 80s. South winds 10 to
15 mph.
.FRIDAY NIGHT...Clear. Lows in the upper 50s. South winds 10 to
15 mph.
.SATURDAY...Sunny. Highs in the mid 80s. Southwest winds 5 to
10 mph, becoming north in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the lower 60s.
.SUNDAY...Sunny. Highs in the lower 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the upper 50s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 70s.
.MONDAY NIGHT...Mostly clear. Lows in the upper 50s.
.TUESDAY...Sunny. Highs in the upper 70s.
.TUESDAY NIGHT...Mostly clear. Lows in the mid 50s.
.WEDNESDAY...Sunny. Highs in the upper 70s.
$$
TXZ276-222115-
Marfa Plateau-
Including the city of Marfa
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the upper 80s. East winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the upper 50s. East winds 10 to
15 mph with gusts up to 25 mph.
.FRIDAY...Sunny. Highs in the upper 80s. Southeast winds 5 to
10 mph.
.FRIDAY NIGHT...Mostly clear. Lows around 60. Southeast winds
5 to 10 mph.
.SATURDAY...Sunny. Highs around 90. South winds 5 to 10 mph,
becoming west in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the lower 60s.
.SUNDAY...Sunny. Highs in the upper 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the lower 80s.
.MONDAY NIGHT...Mostly clear. Lows in the upper 50s.
.TUESDAY...Sunny. Highs in the lower 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ275-222115-
Chinati Mountains-
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 80s. Southeast winds 10 to
15 mph.
.TONIGHT...Mostly clear. Lows in the upper 50s. Southeast winds
10 to 20 mph with gusts up to 30 mph.
.FRIDAY...Sunny. Highs in the lower 80s. Southeast winds 10 to
15 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the upper 50s. Southeast
winds 10 to 15 mph.
.SATURDAY...Sunny. Highs in the mid 80s. South winds 5 to 10 mph,
becoming west in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the upper 50s.
.SUNDAY...Sunny. Highs in the mid 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the upper 50s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs around 80.
.MONDAY NIGHT...Mostly clear. Lows in the mid 50s.
.TUESDAY...Sunny. Highs in the upper 70s.
.TUESDAY NIGHT...Mostly clear. Lows in the mid 50s.
.WEDNESDAY...Sunny. Highs around 80.
$$
TXZ279-222115-
Central Brewster County-
Including the cities of Big Bend NP, Panther Junction,
and Marathon
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the mid 80s. East winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the lower 60s. East winds 10 to
15 mph with gusts up to 25 mph.
.FRIDAY...Sunny. Highs in the upper 80s. Southeast winds 5 to
10 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the lower 60s. Southeast
winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the upper 80s. Southwest winds 5 to
10 mph, becoming southeast in the afternoon.
.SATURDAY NIGHT...Clear. Lows in the lower 60s.
.SUNDAY...Sunny. Highs in the upper 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the mid 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the mid 80s.
.MONDAY NIGHT...Mostly clear. Lows in the lower 60s.
.TUESDAY...Sunny. Highs in the mid 80s.
.TUESDAY NIGHT...Mostly clear. Lows around 60.
.WEDNESDAY...Sunny. Highs in the mid 80s.
$$
TXZ282-222115-
Lower Brewster County-
Including the cities of Big Bend NP, Lajitas, and Castolon
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. East winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. East winds 10 to
15 mph with gusts up to 25 mph, becoming northeast 5 to 10 mph
after midnight.
.FRIDAY...Sunny. Highs in the lower 90s. South winds 5 to 10 mph,
becoming southeast in the afternoon.
.FRIDAY NIGHT...Mostly clear. Lows in the upper 60s. Southeast
winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the mid 90s. Southeast winds 5 to
10 mph.
.SATURDAY NIGHT...Clear. Lows in the upper 60s.
.SUNDAY...Sunny. Highs in the lower 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the upper 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs around 90.
.MONDAY NIGHT...Mostly clear. Lows in the mid 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the mid 60s.
.WEDNESDAY...Sunny. Highs in the upper 80s.
$$
TXZ280-222115-
Chisos Basin-
Including the cities of Big Bend NP and Chisos Basin
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 80s. East winds 5 to 10 mph.
.TONIGHT...Mostly clear. Lows in the upper 50s. East winds 10 to
15 mph, becoming southeast after midnight.
.FRIDAY...Sunny. Highs in the lower 80s. Southeast winds 10 to
15 mph.
.FRIDAY NIGHT...Mostly clear. Lows in the upper 50s. Southeast
winds 10 to 15 mph.
.SATURDAY...Sunny. Highs in the lower 80s. South winds 5 to
10 mph, becoming southeast in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows around 60.
.SUNDAY...Sunny. Highs in the lower 80s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 70s.
.MONDAY NIGHT...Mostly clear. Lows in the upper 50s.
.TUESDAY...Sunny. Highs in the upper 70s.
.TUESDAY NIGHT...Mostly clear. Lows in the upper 50s.
.WEDNESDAY...Sunny. Highs in the upper 70s.
$$
TXZ281-222115-
Presidio Valley-
Including the city of Presidio
213 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. East winds 10 to 15 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. East winds 10 to
15 mph with gusts up to 25 mph.
.FRIDAY...Sunny. Highs in the lower 90s. Southeast winds 5 to
10 mph, becoming south in the afternoon.
.FRIDAY NIGHT...Mostly clear. Lows in the mid 60s. Southeast
winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the mid 90s. Southeast winds 5 to
10 mph, becoming southwest in the afternoon.
.SATURDAY NIGHT...Mostly clear. Lows in the mid 60s.
.SUNDAY...Sunny. Highs in the mid 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the upper 60s.
.MONDAY...Sunny. A slight chance of showers and thunderstorms in
the afternoon. Highs in the upper 80s.
.MONDAY NIGHT...Mostly clear. Lows in the mid 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT...Mostly clear. Lows in the lower 60s.
.WEDNESDAY...Sunny. Highs in the upper 80s.
$$
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/TX-Midland-Odessa-TX-Zone-Forecast-17458727.php | 2022-09-22T07:37:33 | en | 0.879587 |
TX Norman OK Zone Forecast for Wednesday, September 21, 2022
_____
290 FPUS54 KOUN 220721
ZFPOUN
Zone Forecast Product for Oklahoma
National Weather Service Norman OK
221 AM CDT Thu Sep 22 2022
TXZ086-222100-
Wichita-
Including the cities of Sheppard AFB and Wichita Falls
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. North winds 10 to 15 mph
with gusts up to 25 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. Northeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs in the upper 90s. East winds around 5 mph,
becoming south in the afternoon.
.FRIDAY NIGHT...Clear. Lows around 70. South winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 10 to
15 mph with gusts up to 25 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows around 70. Highs
in the mid 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows around 60. Highs
in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
TXZ083-222100-
Hardeman-
Including the city of Quanah
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs around 90. North winds 10 to 15 mph with
gusts up to 25 mph.
.TONIGHT...Clear. Lows in the lower 60s. Northeast winds 5 to
10 mph.
.FRIDAY...Sunny. Highs in the mid 90s. East winds around 5 mph,
becoming south 10 to 15 mph in the afternoon.
.FRIDAY NIGHT...Clear. Lows around 70. South winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 5 to
10 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows in the upper 60s.
Highs in the lower 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows around 60. Highs
in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
TXZ084-222100-
Foard-
Including the city of Crowell
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. North winds 10 to 15 mph
with gusts up to 25 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. East winds 5 to
10 mph.
.FRIDAY...Sunny. Highs in the mid 90s. East winds around 5 mph,
becoming southwest 10 to 15 mph in the afternoon.
.FRIDAY NIGHT...Clear. Lows around 70. South winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the mid 90s. Southwest winds 10 to
15 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows in the upper 60s.
Highs in the lower 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows in the lower
60s. Highs in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
TXZ087-222100-
Knox-
Including the cities of Munday and Knox City
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. North winds 10 to 15 mph
with gusts up to 25 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. East winds 5 to
10 mph.
.FRIDAY...Sunny. Highs in the upper 90s. East winds around 5 mph,
becoming southwest with gusts up to 20 mph in the afternoon.
.FRIDAY NIGHT...Clear. Lows around 70. South winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 10 to
15 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows around 70. Highs
in the lower 90s.
.SUNDAY NIGHT...Mostly clear. Lows in the lower 60s.
.MONDAY AND MONDAY NIGHT...Clear. Highs in the upper 80s. Lows in
the lower 60s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows around 60. Highs in
the upper 80s.
$$
TXZ085-222100-
Wilbarger-
Including the city of Vernon
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the lower 90s. North winds 10 to 15 mph
with gusts up to 25 mph.
.TONIGHT...Clear. Lows in the lower 60s. Northeast winds 5 to
10 mph.
.FRIDAY...Sunny. Highs in the upper 90s. East winds around 5 mph,
becoming southwest in the afternoon.
.FRIDAY NIGHT...Clear. Lows around 70. South winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 10 to
15 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows in the upper 60s.
Highs in the lower 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows around 60. Highs
in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
TXZ088-222100-
Baylor-
Including the city of Seymour
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the mid 90s. Northwest winds 10 to
15 mph, becoming northeast this afternoon.
.TONIGHT...Mostly clear. Lows in the mid 60s. Northeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs in the upper 90s. East winds around 5 mph,
becoming southwest in the afternoon.
.FRIDAY NIGHT...Clear. Lows around 70. South winds 5 to 10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 5 to
10 mph with gusts up to 20 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows around 70. Highs
in the mid 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows in the lower
60s. Highs in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
TXZ089-222100-
Archer-
Including the cities of Archer City, Holliday, Lakeside City,
and Scotland
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the mid 90s. Northwest winds 10 to
15 mph, becoming northeast this afternoon.
.TONIGHT...Mostly clear. Lows in the mid 60s. Northeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs in the upper 90s. East winds around 5 mph,
becoming southwest in the afternoon.
.FRIDAY NIGHT...Clear. Lows in the lower 70s. South winds 5 to
10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 10 to
15 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows around 70. Highs
in the mid 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows in the lower
60s. Highs in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
TXZ090-222100-
Clay-
Including the city of Henrietta
221 AM CDT Thu Sep 22 2022
.TODAY...Sunny. Highs in the mid 90s. North winds 10 to 15 mph
with gusts up to 25 mph.
.TONIGHT...Mostly clear. Lows in the mid 60s. Northeast winds
5 to 10 mph.
.FRIDAY...Sunny. Highs in the upper 90s. East winds 5 to 10 mph,
becoming southwest in the afternoon.
.FRIDAY NIGHT...Clear. Lows in the lower 70s. South winds 5 to
10 mph.
.SATURDAY...Sunny. Highs in the upper 90s. Southwest winds 5 to
10 mph with gusts up to 20 mph.
.SATURDAY NIGHT AND SUNDAY...Mostly clear. Lows in the lower 70s.
Highs in the mid 90s.
.SUNDAY NIGHT THROUGH MONDAY NIGHT...Clear. Lows in the lower
60s. Highs in the upper 80s.
.TUESDAY...Sunny. Highs in the upper 80s.
.TUESDAY NIGHT AND WEDNESDAY...Clear. Lows in the upper 50s.
Highs in the upper 80s.
$$
_____
Copyright 2022 AccuWeather | https://www.lakecountystar.com/weather/article/TX-Norman-OK-Zone-Forecast-17458731.php | 2022-09-22T07:37:39 | en | 0.881927 |
Over 1,300 people were detained across Russia on Wednesday as rallies against a military mobilization declared by President Vladimir Putin for the war in Ukraine took place in areas from the Far East to the capital Moscow.
According to the independent OVD-Info police monitor, at least 1,386 protesters have been detained nationwide so far, with at least half of the count recorded in the capital Moscow.
It added that a majority of those detained were women.
Police in Moscow reportedly handed some detainees summons to the military enlistment office regardless of their experience.
The Vesna opposition movement as well as supporters of jailed Kremlin critic Alexei Navalny called on Russians nationwide to take to the streets on Wednesday evening to oppose the Kremlin’s decision to bolster its forces in Ukraine with a “partial” mobilization.
The first protests took place across cities in Siberia and the Far East, where dozens were arrested, often just minutes after the rallies began, according to local reports.
Small groups of protesters gathered in Ulan-Ude, the capital of the republic of Buryatia; Yakutsk, the capital of the republic of Sakha; and the Far East cities of Khabarovsk and Irkutsk.
Protesters in Ulan-Ude were seen carrying handwritten signs reading “No war! No mobilization!” and “Our husbands, fathers and brothers don’t want to kill other husbands and fathers.”
In the Siberian city of Tomsk, a female protester carrying a sign reading “Hug me if you are also scared” was among the 15 people detained shortly after the start of the protest, according to local Telegram news channel Ulitsa Barkhatnaya.
In Novosibirsk, Russia’s third-largest city, video published to social media showed a protester shouting “I don’t want to die for Putin or for you!”
Protests then took place across the cities in Russia’s Volga-Ural region. At least 45 people were detained in the region’s largest city Yekaterinburg, while dozens others were arrested in Perm, Chelyabinsk and Ufa, the capital of the republic of Bashkortostan, according to OVD-Info.
In the capital Moscow, several hundred people gathered on the central Stary Arbat street amid heavy police presence. Protesters could be seen chanting “No war!” “Send Putin to the trenches!” and “Let our children live!” in videos published to social media.
In St. Petersburg, protesters who gathered near the central St. Isaac's Square were quickly encircled by police, according to videos from the scene. But others continued to march through the city center.
Rallies also took place in the city of Arkhangelsk in the Far North, the southern city of Krasnodar, the Baltic exclave Kaliningrad and others.
In Kazan, the capital of the republic of Tatarstan, a small group of female protesters marched through central streets chanting “Peace to the world. No to mobilization!” after the initial rally was dispersed.
A total of 300,000 Russian reservists are expected to be called up for military service during the campaign, according to Defense Minister Sergei Shoigu.
But the mobilization efforts could be more far-reaching given the vague wording of the mobilization decree, according to human rights lawyer Pavel Chikov, who has been helping Russian soldiers opposed to the war. | https://www.themoscowtimes.com/2022/09/21/over-1300-detained-as-russians-protest-mobilization-a78859 | 2022-09-22T07:38:37 | en | 0.963334 |
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You definitely don’t want to miss this Wednesday edition of WTMJ Nights with Scott Warras as it kicks off with a preview of one of Milwaukee’s Christmas concerts later this year and then delves into the longstanding debate over a cashless society. Even after major software problems this past weekend, is there truly no room for cash options at sports and entertainment venues any longer? Then, Scott’s joined by Mark Minkin to preview this Sunday’s “First Annual National Ataxia Foundation Bowl For A Cure” and how you can still take part and/or help this incredibly worthy cause. Tonight’s 8 o’clock hour features a rapping grandmother that wants the vote of the Utah electorate and to say she’s making a splash would be an understatement. Finally, you won’t want to miss a big announcement from Scott about his future at WTMJ Radio and why Monday, September 26th, is poised to be a historic night for the show, for the station, and for all of you!
You can catch all that and more in the full show — commercial free — in the player above! | https://wtmj.com/wtmj-nights/2022/09/21/09-21-22-wtmj-nights-w-scott-warras/ | 2022-09-22T07:48:49 | en | 0.949239 |
By DAVE COLLINS and PAT EATON-ROBB
Associated Press
WATERBURY, Conn. (AP) — Seven days into his trial for calling the Sandy Hook school shooting a hoax, conspiracy theorist Alex Jones is expected make his first courtroom appearance and begin testifying Thursday, as he and his lawyer try to limit damages he must pay to families who lost loved ones in the massacre.
Jones has been in Connecticut this week in preparation for his testimony, but appeared only briefly in the courthouse Tuesday and did not enter the courtroom. The Infowars host has bashed the proceedings as a “travesty justice” and the judge as a “tyrant” in comments outside the courthouse in Waterbury, about 20 miles (32 kilometers) from the scene of the 2012 shooting in Newtown.
Twenty first graders and six educators were killed at Sandy Hook Elementary School.
Several victims’ relatives, meanwhile, have given emotional testimony during the trial about being traumatized by people calling the shooting fake, including confrontations at their homes and in public and messages including death and rape threats. The plaintiffs include an FBI agent who responded to the shooting and relatives of eight of the victims.
Judge Barbara Bellis last year found Jones liable by default for damages to plaintiffs without a trial, as punishment for what she called his repeated failures to turn over documents to their lawyers. The six-member jury only will be deciding how much Jones and Free Speech Systems, Infowars’ parent company, should pay the families for defaming them and intentionally inflicting emotional distress.
Bellis said in court on Wednesday that she was prepared to handle any incendiary testimony from Jones, with contempt of court proceedings if necessary.
Bellis also was expected to tell Jones, when he first takes the stand and with the jury not in the courtroom, what topics he cannot talk about — including free speech rights and the Sandy Hook families $73 million settlement earlier this year with gun maker Remington, which made the Bushmaster rifle used to kill the victims at Sandy Hook.
Jones also was found liable by default in two similar lawsuits over the hoax lies in his hometown of Austin, Texas, where a jury in one of the trials ordered Jones last month to pay nearly $50 million in damages to the parents of one of the children killed. A third trial in Texas is expected to begin near the end of the year.
When Jones faced the Texas jury last month and testified under oath, he toned down his rhetoric. He said he realized the hoax lies were irresponsible and the school shooting was “100% real.”
“I unintentionally took part in things that did hurt these people’s feelings,” testified Jones, who also acknowledged raising conspiracy claims about other mass tragedies, from the Oklahoma City and Boston Marathon bombings to the mass shootings in Las Vegas and Parkland, Florida, “and I’m sorry for that.”
Jones had portrayed the Sandy Hook shooting as staged by crisis actors as part of gun control efforts.
Testimony at the current trial also has focused on website analytics data run by Infowars employees showing how its sales of dietary supplements, food, clothing and other items spiked around the time Jones talked about the Sandy Hook shooting.
Evidence, including internal Infowars emails and depositions, also shows dissention within the company about pushing the hoax lies.
Jones’ lawyer Norman Pattis is arguing that any damages should be limited and accused the victims’ relatives of exaggerating the harm the lies caused them.
The relatives have testified that they continue to fear for their safety because of what the hoax believers have done and might do.
Jennifer Hensel, whose 6-year-old daughter Avielle Richman was among the slain, testified Wednesday that she still monitors her surroundings, even checking the back seat of her car, for safety reasons. She said she is trying to shield her two children, ages 7 and 5, from the hoax lies. A juror cried during her testimony.
“They’re so young,” she said of her children. “Their innocence is so beautiful right now. And at some point there are a horde of people out there who could hurt them.”
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/entertainment/2022/09/21/alex-jones-set-to-testify-in-trial-over-sandy-hook-hoax-lies-2/ | 2022-09-22T07:48:56 | en | 0.979132 |
By DAVE COLLINS and PAT EATON-ROBB
Associated Press
WATERBURY, Conn. (AP) — Seven days into his trial for calling the Sandy Hook school shooting a hoax, conspiracy theorist Alex Jones is expected make his first courtroom appearance and begin testifying Thursday, as he and his lawyer try to limit damages he must pay to families who lost loved ones in the massacre.
Jones has been in Connecticut this week in preparation for his testimony, but appeared only briefly in the courthouse Tuesday and did not enter the courtroom. The Infowars host has bashed the proceedings as a “travesty justice” and the judge as a “tyrant” in comments outside the courthouse in Waterbury, about 20 miles (32 kilometers) from the scene of the 2012 shooting in Newtown.
Twenty first graders and six educators were killed at Sandy Hook Elementary School.
Several victims’ relatives, meanwhile, have given emotional testimony during the trial about being traumatized by people calling the shooting fake, including confrontations at their homes and in public and messages including death and rape threats. The plaintiffs include an FBI agent who responded to the shooting and relatives of eight of the victims.
Judge Barbara Bellis last year found Jones liable by default for damages to plaintiffs without a trial, as punishment for what she called his repeated failures to turn over documents to their lawyers. The six-member jury only will be deciding how much Jones and Free Speech Systems, Infowars’ parent company, should pay the families for defaming them and intentionally inflicting emotional distress.
Bellis said in court on Wednesday that she was prepared to handle any incendiary testimony from Jones, with contempt of court proceedings if necessary.
Bellis also was expected to tell Jones, when he first takes the stand and with the jury not in the courtroom, what topics he cannot talk about — including free speech rights and the Sandy Hook families $73 million settlement earlier this year with gun maker Remington, which made the Bushmaster rifle used to kill the victims at Sandy Hook.
Jones also was found liable by default in two similar lawsuits over the hoax lies in his hometown of Austin, Texas, where a jury in one of the trials ordered Jones last month to pay nearly $50 million in damages to the parents of one of the children killed. A third trial in Texas is expected to begin near the end of the year.
When Jones faced the Texas jury last month and testified under oath, he toned down his rhetoric. He said he realized the hoax lies were irresponsible and the school shooting was “100% real.”
“I unintentionally took part in things that did hurt these people’s feelings,” testified Jones, who also acknowledged raising conspiracy claims about other mass tragedies, from the Oklahoma City and Boston Marathon bombings to the mass shootings in Las Vegas and Parkland, Florida, “and I’m sorry for that.”
Jones had portrayed the Sandy Hook shooting as staged by crisis actors as part of gun control efforts.
Testimony at the current trial also has focused on website analytics data run by Infowars employees showing how its sales of dietary supplements, food, clothing and other items spiked around the time Jones talked about the Sandy Hook shooting.
Evidence, including internal Infowars emails and depositions, also shows dissention within the company about pushing the hoax lies.
Jones’ lawyer Norman Pattis is arguing that any damages should be limited and accused the victims’ relatives of exaggerating the harm the lies caused them.
The relatives have testified that they continue to fear for their safety because of what the hoax believers have done and might do.
Jennifer Hensel, whose 6-year-old daughter Avielle Richman was among the slain, testified Wednesday that she still monitors her surroundings, even checking the back seat of her car, for safety reasons. She said she is trying to shield her two children, ages 7 and 5, from the hoax lies. A juror cried during her testimony.
“They’re so young,” she said of her children. “Their innocence is so beautiful right now. And at some point there are a horde of people out there who could hurt them.”
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/alex-jones-set-to-testify-in-trial-over-sandy-hook-hoax-lies/ | 2022-09-22T07:49:03 | en | 0.979132 |
By JOSHUA GOODMAN
Associated Press
MIAMI (AP) — Investigators say they found evidence a former Trump official who heads Latin America’s biggest development bank carried on a romantic relationship with his chief of staff — a bond they allegedly forged in a pact scribbled on the back of a restaurant place mat: “We deserve absolute happiness.”
The Associated Press obtained a copy of a confidential report by a law firm hired by the Inter-American Development Bank’s board to investigate an anonymous complaint of misconduct against its president, Mauricio Claver-Carone.
In it, investigators said it is reasonable to conclude the relationship between the two existed since at least 2019, when both held senior positions on the National Security Council. They said the purported relationship prompted one U.S. official at the time to warn that it posed a counterintelligence risk.
Exhibit A in the 21-page report is a “contract” that the two purportedly drew up on the back of a place mat in the summer of 2019 while they dined at a steakhouse in Medellin, Colombia. Both were there attending the annual meeting of the Organization of American States.
In it, they allegedly outline a timeline for divorcing their spouses and getting married. There is also a “breach clause” stating that any failure to fulfill the terms would bring “sadness and heartbreak” that could only be mitigated by “candlewax and a naughty box” from an oceanfront hotel in Claver-Carone’s native Miami.
“We deserve absolute happiness. May only God part w/ this covenant,” according to the contract, a photo of which was provided to investigators by the woman’s former husband, who told investigators he found the place mat in her purse when she returned from the trip.
The purported contract is one of several details in the report that have Claver-Carone fighting to save his job. They include allegations he had a 1 a.m. hotel room rendezvous with his chief of staff, sent her a poem on a Sunday morning titled “My Soul is in a Hurry” and — perhaps most troubling — awarded her 40% pay raises in violation of the bank’s conflict-of-interest policies.
Claver-Carone has disputed the report’s accuracy, strongly denouncing the manner in which the review was conducted and offering no hint that he is considering resignation.
According to investigators, he has denied ever having — now or before — a romantic relationship with his longtime right hand.
His chief of staff denied the allegations in the anonymous complaint and told investigators she never violated the IDB’s code of ethics, the report said. In a written submission to investigators, she also complained that she had been denied due process.
The AP isn’t naming Claver-Carone’s aide because the report, which is labeled “confidential,” hasn’t been made public.
“Neither I nor any other IDB staff member has been given an opportunity to review the final investigative report, respond to its conclusions, or correct inaccuracies,” Claver-Carone said in a statement Tuesday.
The findings recall accusations of ethical lapses against another Republican atop a multilateral institution, former Secretary of Defense Paul Wolfowitz, who resigned as head of the World Bank in 2007 for arranging a generous pay raise for his girlfriend.
The Inter-American Development Bank is the biggest multilateral lender to Latin America, disbursing as much as $23 billion every year in efforts to alleviate poverty in the region.
Representatives of the bank’s 48 members met Wednesday to discuss the report but it was unclear what action, if any, they might take.
The U.S. is the largest shareholder in the Washington-based bank and some inside the White House have made no secret of their dislike for Claver-Carone, whose election as IDB chief in the final months of the Trump presidency broke with tradition that a Latin American head the bank.
Some of the more salacious claims referenced in the report could not be substantiated by New York-based Davis Polk. The law firm also found no evidence that Claver-Carone knowingly broke the bank’s travel policies to cover up a romantic relationship, or retaliated against any bank employees, as was alleged in an anonymous complaint sent in March to the bank’s board.
Still, Davis Polk harshly criticized Claver-Carone and his chief of staff for failing to cooperate fully with their investigation — considering it a violation of bank policies and principles.
For example, the report said Claver-Carone failed to hand over his bank-issued mobile phone for analysis although he did provide a forensic report conducted by a consultant. Claver-Carone also didn’t share messages from his personal phone or Gmail account with his chief of staff, the report said.
“Particularly in light of their failure to cooperate, it would be reasonable to conclude that the evidence of a prior relationship, and the additional circumstantial evidence of a current relationship while they were both at the Bank, constitute a violation of the applicable Bank policies,” the report said.
Davis Polk’s report said Claver-Carone raised his aide’s pay by 40% within a year. It said that one of the raises and a change of title was ordered by Claver-Carone a day after an email exchange in which she complained about not getting sufficient respect from her co-workers.
“You figure it out. It’s your bank,” she wrote, according to the report.
Davis Polk, which also conducted the investigation that led to Andrew Cuomo’s resignation as governor of New York, faulted Claver-Carone for making employment decisions about someone with whom it believes he had been romantically involved. However, it said that other executives received similarly-sized increases and his chief of staff’s current salary of $420,000 is in line with her predecessor’s compensation.
Claver-Carone when confronted with photographs of the purported place mat “contract” during an interview this month told investigators that he had never seen the document and denied it was his handwriting or signature. He stated that the document was fraudulent and part of a scheme by his aide’s ex-husband to harm her.
In a letter to the bank’s general counsel, seen by AP, divorce lawyers for the chief of staff said her former husband had a history of cruelty and revenge that was raised in divorce proceedings. They said any evidence he supplied investigators should not be deemed credible.
However, two independent handwriting experts, one who previously worked for the FBI, concluded there was a high probability that the handwriting on the place mat — excerpts of which are displayed in the report — match Claver-Carone’s penmanship in bank documents. Claver-Carone refused to submit a handwriting sample as part of the probe, the report said.
___
Joshua Goodman on Twitter: @APJoshGoodman
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/ap-news/2022/09/21/ap-probe-finds-evidence-of-bank-boss-romance-with-top-aide-2/ | 2022-09-22T07:49:15 | en | 0.978846 |
By JOSHUA GOODMAN
Associated Press
MIAMI (AP) — Investigators say they found evidence a former Trump official who heads Latin America’s biggest development bank carried on a romantic relationship with his chief of staff — a bond they allegedly forged in a pact scribbled on the back of a restaurant place mat: “We deserve absolute happiness.”
The Associated Press obtained a copy of a confidential report by a law firm hired by the Inter-American Development Bank’s board to investigate an anonymous complaint of misconduct against its president, Mauricio Claver-Carone.
In it, investigators said it is reasonable to conclude the relationship between the two existed since at least 2019, when both held senior positions on the National Security Council. They said the purported relationship prompted one U.S. official at the time to warn that it posed a counterintelligence risk.
Exhibit A in the 21-page report is a “contract” that the two purportedly drew up on the back of a place mat in the summer of 2019 while they dined at a steakhouse in Medellin, Colombia. Both were there attending the annual meeting of the Organization of American States.
In it, they allegedly outline a timeline for divorcing their spouses and getting married. There is also a “breach clause” stating that any failure to fulfill the terms would bring “sadness and heartbreak” that could only be mitigated by “candlewax and a naughty box” from an oceanfront hotel in Claver-Carone’s native Miami.
“We deserve absolute happiness. May only God part w/ this covenant,” according to the contract, a photo of which was provided to investigators by the woman’s former husband, who told investigators he found the place mat in her purse when she returned from the trip.
The purported contract is one of several details in the report that have Claver-Carone fighting to save his job. They include allegations he had a 1 a.m. hotel room rendezvous with his chief of staff, sent her a poem on a Sunday morning titled “My Soul is in a Hurry” and — perhaps most troubling — awarded her 40% pay raises in violation of the bank’s conflict-of-interest policies.
Claver-Carone has disputed the report’s accuracy, strongly denouncing the manner in which the review was conducted and offering no hint that he is considering resignation.
According to investigators, he has denied ever having — now or before — a romantic relationship with his longtime right hand.
His chief of staff denied the allegations in the anonymous complaint and told investigators she never violated the IDB’s code of ethics, the report said. In a written submission to investigators, she also complained that she had been denied due process.
The AP isn’t naming Claver-Carone’s aide because the report, which is labeled “confidential,” hasn’t been made public.
“Neither I nor any other IDB staff member has been given an opportunity to review the final investigative report, respond to its conclusions, or correct inaccuracies,” Claver-Carone said in a statement Tuesday.
The findings recall accusations of ethical lapses against another Republican atop a multilateral institution, former Secretary of Defense Paul Wolfowitz, who resigned as head of the World Bank in 2007 for arranging a generous pay raise for his girlfriend.
The Inter-American Development Bank is the biggest multilateral lender to Latin America, disbursing as much as $23 billion every year in efforts to alleviate poverty in the region.
Representatives of the bank’s 48 members met Wednesday to discuss the report but it was unclear what action, if any, they might take.
The U.S. is the largest shareholder in the Washington-based bank and some inside the White House have made no secret of their dislike for Claver-Carone, whose election as IDB chief in the final months of the Trump presidency broke with tradition that a Latin American head the bank.
Some of the more salacious claims referenced in the report could not be substantiated by New York-based Davis Polk. The law firm also found no evidence that Claver-Carone knowingly broke the bank’s travel policies to cover up a romantic relationship, or retaliated against any bank employees, as was alleged in an anonymous complaint sent in March to the bank’s board.
Still, Davis Polk harshly criticized Claver-Carone and his chief of staff for failing to cooperate fully with their investigation — considering it a violation of bank policies and principles.
For example, the report said Claver-Carone failed to hand over his bank-issued mobile phone for analysis although he did provide a forensic report conducted by a consultant. Claver-Carone also didn’t share messages from his personal phone or Gmail account with his chief of staff, the report said.
“Particularly in light of their failure to cooperate, it would be reasonable to conclude that the evidence of a prior relationship, and the additional circumstantial evidence of a current relationship while they were both at the Bank, constitute a violation of the applicable Bank policies,” the report said.
Davis Polk’s report said Claver-Carone raised his aide’s pay by 40% within a year. It said that one of the raises and a change of title was ordered by Claver-Carone a day after an email exchange in which she complained about not getting sufficient respect from her co-workers.
“You figure it out. It’s your bank,” she wrote, according to the report.
Davis Polk, which also conducted the investigation that led to Andrew Cuomo’s resignation as governor of New York, faulted Claver-Carone for making employment decisions about someone with whom it believes he had been romantically involved. However, it said that other executives received similarly-sized increases and his chief of staff’s current salary of $420,000 is in line with her predecessor’s compensation.
Claver-Carone when confronted with photographs of the purported place mat “contract” during an interview this month told investigators that he had never seen the document and denied it was his handwriting or signature. He stated that the document was fraudulent and part of a scheme by his aide’s ex-husband to harm her.
In a letter to the bank’s general counsel, seen by AP, divorce lawyers for the chief of staff said her former husband had a history of cruelty and revenge that was raised in divorce proceedings. They said any evidence he supplied investigators should not be deemed credible.
However, two independent handwriting experts, one who previously worked for the FBI, concluded there was a high probability that the handwriting on the place mat — excerpts of which are displayed in the report — match Claver-Carone’s penmanship in bank documents. Claver-Carone refused to submit a handwriting sample as part of the probe, the report said.
___
Joshua Goodman on Twitter: @APJoshGoodman
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/ap-probe-finds-evidence-of-bank-boss-romance-with-top-aide/ | 2022-09-22T07:49:21 | en | 0.978846 |
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Manappuram Jewellers Ltd has signed an agreement with Titan Company Ltd for the manufacture of gold and diamond jewellery for the latter.
Under the agreement, Manappuram Jewellers, which has a manufacturing unit in Bengaluru, will make premium gold jewellery based on specific requirements and designs provided by Titan, a lifestyle and fashion company owned by the Tata Group. The agreement will be valid for two years.
V.P. Nandakumar, Chairman, Manappuram Jewellers Ltd, said: “The collaboration with Titan, a leading manufacturer and retailer of gold jewellery, is a milestone in the growth of Manappuram Jewellers. This partnership is a recognition of Manappuram Jewellers’ expertise and excellence in jewellery manufacturing.”
Manappuram Jewellers also owns the retail brand Manappuram Riti Jewelry, which has a presence across South India.
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Volvo launched its new petrol mild-hybrid version of XC40 SUV along with S90 sedan, the mid-size SUV XC60 and the flagship SUV XC90 in India and with the new products, the company has completed its transition to petrol mild-hybrids, which is in sync with its strategy of becoming an all-electric company by 2030.
The petrol mild-hybrid XC90 is priced at Rs 94.90 lakh, while the petrol mild-hybrid XC40, though priced at Rs 45.90-lakh, is being offered at a festive season discount rate of Rs 43.20 lakh for a limited period. Similarly, petrol mild-hybrid S90 is priced at Rs 66.90 lakh and the new petrol mild-hybrid XC60 is priced at Rs 65.90-lakh, the company said.
"The launch of our 2023 models completes our portfolio of all petrol mild hybrids. This transition is in sync with Volvo's commitment towards sustainability and in becoming an all-electric company by 2030. These models come with a host of new feature offerings," said Malhotra, Managing Director at Volvo Car India.
At present, the company offers one pure electric SUV, XC40 Recharge, in its India portfolio, which is locally assembled at its Bengaluru plant.
Malhotra also said that the company is geared to roll out its second fully electric model by the middle of next year.
Volvo Car India currently has 25 dealerships pan-India.
(With inputs from PTI) | https://www.dnaindia.com/automobile/report-volvo-aims-to-go-all-electric-by-2030-converts-entire-car-portfolio-into-mild-hybrid-petrol-2987134 | 2022-09-22T07:49:57 | en | 0.964807 |
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After a gap of five years, filmmaker Madhur Bhandarkar is coming up with a slice-of-life film Babli Bouncer, a story about a female bouncer, essayed by Indian film star Tamannaah Bhatia. Madhur's last outing Indu Sarkar was received well critically. With Babli Bouncer, Madhur's attempt is to give the audience a feel-good, family entertainer that will put a smile on the audience's faces. The film also starring Saurabh Shukla, Abhishek Bajaj and Sahil Vaid in pivotal roles will release on Disney+Hotstar on September 23 in Hindi, Tamil and Telugu.
Recently, we caught up with Madhur Bhandarkar and while speaking at length about his upcoming film Babli Bouncer, we also asked the filmmaker for his opinion on why films have been failing to draw the audience to the theatres and the boycott trend.
Speaking about films failing to draw audiences to cinema halls, Babli Bouncer director Madhur Bhandarkar said, "It's basically a phase. This is not the first time, I've seen this phase as a kid also when I worked in a video cassette library. There comes a phase when films don't do well at the box office. Post-pandemic if you look, definitely there is a dent, a slump in the box office (numbers). For two years people have been watching movies on OTT and now they know that the film will stream digitally in a month or so. The mindset is changed now, viewers have become very choosy about the films they want to see in theatres." Madhur further averred, "But this is just a temporary phase. It isn't like no film has done well in the theatres. Films such as Pushpa, KGF, Bhool Bhulaiyaa 2, The Kashmir Files, Gangubai Kathiawadi, RRR, all these have done well at the box office." Madhur, however, stated he agrees that less number of films have done well at the tickets window this year while adding "the ratio could have been more in terms of films that have done well."
Further, Madhur stated that he is sure this phase will ease out by next month. "For the theatre-going audience, for cine-goers, the theatres have a different charm. During the pandemic, there were so many news articles about theatres shutting down, owners who were running into losses turning cinema halls into banquet halls, but we did survive that phase," He said. "There will always be a section of audience who will go to the theatres to watch films," He added, "This is not a phase only in the Hindi film industry, it's globally, even in the South they are witnessing a slump."
Praying that in the coming years, things look up for the industry, Madhur said, "I hope in the coming years it will definitely get better and normal for everyone."
Talking about whether the boycott trend has any impact on the box office collection of films, the Babli Bouncer director said, "I spoke to several distributors and producers in the last one month, and I can say after having had the conversation that the cancel culture or boycott trend, whatever you say, that definitely does make an impact on the box office. Perspective-wise, it makes a difference."
Explaining further, he said, "If a particular film is being boycotted, there will be people who don't want to go and watch the film because ultimately they are cine-goers, they have an opinion."
"Our industry is a soft target. The first three days of a film's release are very important. We are into this fragile industry so you obviously want the consumer to go an open heart and mind to see a film. But exhibitors and distributors have told me 'aisi cheesein hone se humko theatre mein, collection mein pharak padta hai (when such things happen, it impacts the collection at the theatres)," Madhur Bhandarkar concluded. | https://www.dnaindia.com/bollywood/report-babli-bouncer-director-madhur-bhandarkar-talks-about-films-failing-at-box-office-boycott-trend-exclusive-2987149 | 2022-09-22T07:50:03 | en | 0.97566 |
Google has added new features for travellers to filter searches for sustainable options while booking flights, hotels and train tickets. The features will let users see estimated carbon emissions on flights and check for ‘eco-label’ certification on properties from a trusted third-party group, Google said in its statement.
The new features will be available to users in select countries, including Germany, Spain, Italy and Japan. The company will expand to more locations in future and add similar features for bus tickets as well.
Google Flights will allow users to locate flights that have lower emissions. Similarly, the tech giant lets users filter eco-certified hotels on Google.com/travel. The company has associated with organisations, including the US Green Building Council for LEED ratings and the Global Sustainable Tourism Council to improve the accuracy of search results.
Google is also bringing a new module to simplify searches for train travel services. At present, users have to perform two separate searches to track the price and schedules of trains. The new module will let users make train-related searches and set a departure date and compare schedules.
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Babli Bouncer: Filmmaker Madhur Bhandarkar is gearing up for the OTT release of his upcoming film Babli Bouncer, starring Tamannaah Bhatia. The film about the world of female bouncers, will release on September 23 on Disney+ Hotstar in Hindi, Tamil and Telugu. A coming-of-age feel-good story with a slice-of-life comedic tone, Babli Bouncer is set in the real 'bouncer town' of North India - Asola Fatepur. Tamannaah Bhatia will be seen in a never-seen-before avatar, as Babli Bouncer, alongside Saurabh Shukla, Abhishek Bajaj and Sahil Vaid in pivotal roles.
Ahead of the film's OTT release, we at DNA caught up with the National Award-winning director Madhur Bhandarkar and spoke to him about Babli Bouncer, casting Tamannaah Bhatia in the lead role and more. "I was very fascinated by the idea of being a girl in a bouncers world. We have seen male bouncers, rarely females. So, I wanted to make a breezy, heartfelt, good film," said Madhur Bhandarkar.
Describing Tamannaah's character in the film, Madhur Bhandarkar said that she is feisty, naughty, emotional and becomes robust as well when she has to put up a fight. "I always thought I haven't portrayed such a character for my protagonist and so when I narrated it to Disney Hotstar, they liked the idea as an original OTT film," the filmmaker said. He added, "Then we approached Tamannaah Bhatia and she loved the script." Madhur further said that Tamannaah herself wanted to make "a strong film with a good backdrop." He said, "She loved the script when I narrated it to her and said it's beautifully written."
Ask him if Tamannaah was the first choice for Babli Bouncer, Madhur Bhandarkar told DNA, "When we make a film, multiple times we think of (casting) different actresses. The same happened to me. Then the pandemic happened, things were not moving and later I narrated the film to Disney+Hotstar. Thereafter, we obviously kept thinking about who should we cast and they said why don't we see Tamannaah Bhatia." Madhur added, "Trust me I had not seen any of her films except Baahubali 1. I had not seen any of her previous works. I Googled and saw her pictures. Later, I met her. It's not like I didn't know who she was but it had been brief meetings at award functions/events. So, I said let me see because my film requires a lot of 'performance' and this movie had a lot of ups and downs in terms of the character which is not one-dimensional. So, I said okay I don't mind meeting her." Madhur further elaborating on the process of getting Tamannaah on board said, "I met her, interacted with her before narration and while my writer was narrating I was looking at her thinking how she would look in the role. I felt she had the body language, the persona and I could see she is Babli. Now, the only thing was that many wondered that she has done several films down South, she has an accent...how will she be able to play a Haryanvi character. So, I got her to do a diction class (to play the role). I just asked her to get the accent right and assured her we will definitely get the best performance (out of her)." And that is how Tamannaah finally got on board.
Madhur went on to praise Tamannaah and said that she was able to portray varied emotions perfectly while adding that some of the actress's best closeup shots are in Babli Bouncer.
While still speaking about Tamannaah's Haryanvi character who is a bodybuilder and gets the job of a female bouncer, when we asked Madhur if comparisons were made between Anushka Sharma, Fatima Sana Sheikh and Sanya Malhotra who also essayed the roles of Haryanvi wrestler girls in Sultan and Dangal, respectively, how would he react, Madhur Bhandarkar said, "This is not a story about a wrestler, it has nothing to do with that world, so there won't be any comparisons. Yes, in the film we do have elements in which she (Tamannaah) is doing boxing, she is riding a bullet bike etc, but one can't say that the film is fully about the wrestlers' world. It is just that people from this village are hired as bouncers in the Delhi area where there are pubs. So, I just felt the world was very fascinating."
Moving further into the conversation, when we asked Madhur Bhandarkar why did he not release the film in theatres he said, "This movie was originally made as an OTT film." While mentioning that he is overwhelmed with the response to the trailer and the innumerable queries on why the film isn't releasing in the theatres, Madhur Bhandarkar concluded by saying that Disney+Hotstar wanted Babli Bouncer as an original film for the streaming platform and so it had to be this way. | https://www.dnaindia.com/bollywood/report-babli-bouncer-was-tamannaah-bhatia-the-first-choice-for-film-director-madhur-bhandarkar-reveals-exclusive-2987133 | 2022-09-22T07:50:09 | en | 0.984209 |
Apple Inc may make one out of four iPhones in India by 2025, J.P. Morgan analysts said on Wednesday, as the tech giant moves some production away from China, amid mounting geopolitical tensions and strict Covid-19 lockdowns in the country.
The brokerage expects Apple to move about 5 per cent of iPhone 14 production from late 2022 to India, which is the world's second-biggest smartphone market after China.
It is also estimating about 25 per cent of all Apple products, including Mac, iPad, Apple Watch and AirPods, to be manufactured outside China by 2025 from 5 per cent currently.
Cupertino, California-headquartered Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.
The pandemic hampered supply chain relocation plans for businesses, but with restrictions easing, more companies, including Apple, are re-accelerating these efforts this year.
"Taiwanese vendors such as Hon Hai and Pegatron play a key role in the relocation to India. In the medium to long-term, we also expect Apple to qualify local India manufacturing suppliers," according to J.P. Morgan analysts led by Gokul Hariharan, who is rated 4 out of 5 for estimates accuracy.
A Bloomberg report said earlier this month that Indian conglomerate Tata Group was in talks with Wistron to establish a joint venture to assemble iPhones in the country amid Apple's plans to cut the production lag with China.
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Reported By:| Edited By: DNA Web Team |Source: DNA Web Desk |Updated: Sep 22, 2022, 12:48 PM IST
Myntra expects to draw 6 million unique users to its platform as the festive season sales kicks off with the Big Fashion Festival on September 23. The grand opening of Myntra Big Fashion Festival starts at midnight 2 am. You can count on discounts, deals, lightning deals, and other offers. With so many offers and discounts, it can become a little confusing and overwhelming. And to avoid the confusion it’s better to put the items in your cart already since the sale prices are already out.
In addition to offering customers 6,000+ brands to choose from, Myntra has increased the number of styles by 1.5 times since the previous iteration of the same sale.
Top brands are offering great deals on the Myntra Big Fashion Festival Sale for Women, Men, Kids, Plus Size. Puma is offering minimum 60% off on Kids wear, Puma and Nike is offering sports shoes and casual shoes with up to 50% discount. MAC, Lakme, Maybelline are offering 15-40% discounts on the products. Red Tape is giving up to 80% discounts on its shoes. Clothing brands such as H&M, Zara, Libas, Gini & Jony, HRX, Mast & Harbour and so many more are offering great discounts on the products.
Along with Freesoul, Myntra has also introduced the home furnishings and accessories lines H&M Home and UCB Home. Additionally, it has forged partnerships with foreign companies through its cross-border programme, the Myntra Global initiative, including the Turkish fashion label Trendyol, the fashion and accessory label Urbanic, the Southeast Asian fashion and lifestyle label Zalora, and the fashion label JC Mode.
Retailers, both online and offline, have been scaling up their brand associations as well as strengthening their back-end in the run-up to this year’s festive season sales. That’s because retailers are expecting this year’s festivities to be better after two pandemic struck years.
The company also plans to engage with customers via social commerce, with brands such as H&M, Nike, and Puma participating in 350 M-Lives, a mix of brand-led and celeb-led videos. M-Lives is housed within Myntra Studio, its social commerce platform. | https://www.dnaindia.com/business/report-myntra-big-fashion-festival-sale-2022-starts-tomorrow-get-up-to-80-off-on-hm-red-tape-puma-nike-and-more-2987150 | 2022-09-22T07:50:15 | en | 0.957685 |
Twitter will let its paid subscribers or Twitter Blue users edit tweets. A screenshot shared by Twitter in its blog post revealed that users can track the edit history and previous versions of a tweet through the ‘last edited’ label.
The microblogging site in April announced that the upcoming edit feature may track tweet history.
Users will be able to perform edits to the original within 30 minutes after publishing a tweet. However, Twitter Blue subscribers already have an ‘undo tweet’ button to cancel posting a tweet within 30 seconds of publishing. Reportedly, the feature will continue to work even after the launch of an edit button.
Twitter said that the feature will first roll out to subscribers in New Zealand and learn its usage patterns. According to reports, the company will then expand the feature to Twitter Blue users in Australia, Canada and the US.
This comes after the platform expanded its strategies to recommend posts from accounts users do not follow. A sparkle icon on the home page provides users with the top ‘For You’ Tweets, which include recommendations and topics from accounts they do not follow, and the latest tweets from accounts followed. Twitter is also experimenting with an ‘X’ tool for users to remove recommendations.
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Reported By:| Edited By: DNA Web Team |Source: IANS |Updated: Sep 22, 2022, 11:51 AM IST
SpiceJet has announced a 20% hike in pilots’ salary from October. This follows last month`s 6 per cent hike in salaries.
According to the sources, the first tranche of Emergency Credit Line Guarantee Scheme (ECLGS) payment has been received by the airline, the second is expected shortly.
Moreover, the company will be depositing TDS of all employees in the next two-three weeks. And, a significant portion of the PF will also be credited.
According to an internal mail to all the pilots, senior VP, Gurcharan Arora said that the Spicejet has received the approval for a loan under the government’s ECLGS scheme. "The first tranche of the payment has already been received and the second trancher is expected very soon. Our management is working to raise an additional 200 million dollars."
The mail also talked about resumption of normalcy in the aviation sector and said that the airline is flying towards growth and sustainability.
On Tuesday, in a temporary measure to rationalise cost, SpiceJet decided to place some pilots on leave without pay for a period of three months. The airline said that it will be inducting MAX aircraft shortly and these pilots will be back in service as the induction begins. During the LWP period, pilots will remain eligible for all other employee benefits as applicable i.e. all opted insurance benefits and employee leave travel.
SpiceJet airline had earlier reported a net loss of Rs 789 crore (Rs 420 crore, excluding forex adjustment) for the quarter ending June 30, 2022 as compared to a net loss of Rs 729 crore in the quarter ending 30 June, 2021 as the business was severely impacted by record high fuel prices and a depreciating Rupee. | https://www.dnaindia.com/business/report-spicejet-to-hike-salary-for-pilots-by-20-percent-in-october-here-s-why-2987130 | 2022-09-22T07:50:21 | en | 0.974635 |
Crude oil futures traded higher on Thursday morning despite the US Federal Reserve increasing interest rate by 75 basis points on Wednesday.
At 10.01 am on Thursday, November Brent oil futures were at $90.25, up by 0.47 per cent, and November crude oil futures on WTI were at $83.34, up by 0.48 per cent.
October crude oil futures were trading at ₹6,735 on Multi Commodity Exchange (MCX) in the initial trading hour of Thursday against the previous close of ₹6,742, down by 0.10 per cent; and November futures were trading at ₹6,725 against the previous close of ₹6,733, down by 0.12 per cent.
Unsurprising
In order to control inflation in the US, the Fed increased the interest rate by 75 basis points on Wednesday. This is the third increase in recent months. However, the market was expecting the rate hike.
The Petroleum Status Report of the US Energy Information Administration (EIA) for the week ending September 16, which was released on September 21, mentioned an increase in crude oil inventories in that country. US commercial crude oil inventories (excluding those in the strategic petroleum reserve) increased by 1.1 million barrels from the previous week. At 430.8 million barrels, US crude oil inventories were about 2 per cent below the five-year average for this time of year.
US crude oil imports averaged 6.9 million barrels a day last week, an increase of 1.2 million barrels a day from the previous week. Crude oil refinery inputs in the US averaged 16.4 million barrels a day during the week ending September 16, which was 333,000 barrels a day more than the previous week’s average.
However, the demand for products fell in the US. Total products supplied over the last four-week period averaged 19.6 million barrels a day, down by 6.7 per cent from the same period last year.
Meanwhile, Russian President Vladimir Putin’s announcement of partial military mobilisation impacted the market, with fears of further disruption in crude oil supply if the Russia-Ukraine war escalates. There is tight supply now.
Zinc, dhania trade higher
September zinc futures were trading at ₹281.25 on MCX in the initial trading hour of Thursday against the previous close of ₹278.30, up by 1.06 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), October dhaniya contracts were trading at ₹10,800 in the initial trading hour of Thursday against the previous close of ₹10,752, up by 0.45 per cent.
October guarseed futures were trading at ₹5,209 on NCDEX in the initial trading hour of Thursday against the previous close of ₹5,228, down by 0.36 per cent.
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Indian food aggregator platforms Swiggy and Zomato have featured in the world's 'Top 10' e-commerce-based food delivery companies.
A report published by Canada-headquartered global research firm ETC Group titled Food Barons 2022 - Crisis Profiteering, Digitalization and Shifting Power placed Swiggy and Zomato in the 9th and 10th spot, respectively.
The most important part is that both of them are part of over 100 Indian unicorns. Unicorns are companies with a total value of over USD 1 billion.
According to the research firm, the food delivery sector refers to digital, on-demand platforms for ordering and paying for prepared food, groceries and other retail items. Restaurants/retailers fill the orders and couriers deliver them to customers within a prescribed timeframe.
China's publicly listed food platform Meituan was at the top of the list, followed by the UK's Deliveroo, and the US Uber Eats.
Further, Ele.me, DoorDash, Just Eat Takeaway/Grubhub, Delivery Hero, and iFood found themselves in the 4th to 8th spot.
"The food delivery sector is rapidly consolidating, but ownership is a moving target. As companies jostle for regional hegemony, they are buying, selling and swapping stakes in competitors," the report said.
"Venture capital and Big Tech investment has fueled the sector, but companies have yet to deliver profits, even in the sector-friendly circumstances of the global pandemic when delivery became more necessity than convenience," it added.
Against that backdrop, it said that tweaking the business model to move towards profitability - most prominently by adding grocery and pharmacy delivery - is currently underway.
The report also focused on issues faced by workers in the gig economy.
Delivery workers, it said, have been considered independent contractors instead of employees in most parts of the world. They are therefore ineligible for social security, injury compensation or other benefits."There are indications that some governments may be ready to enact labour reforms to try to end the platforms' free ride. In the USA, New York City became the first city to pass legislation to regulate the food delivery sector, establishing minimum pay and other worker protections," the research report added.
A major problem facing the sector, the report said, is the significant increase in trash from the takeaway of single-use packaging.
(Source ANI) | https://www.dnaindia.com/business/report-swiggy-zomato-ranked-amongst-top-10-food-delivery-platforms-globally-2987142 | 2022-09-22T07:50:27 | en | 0.959698 |
Surging share prices of Gautam Adani’s companies have helped make him the world’s second-richest person. The bond market isn’t quite as enthusiastic.
Stocks of firms in his Indian business empire -- spanning ports to gas distribution and coal mining -- have jumped in part on soaring energy prices. Adani Ports & Special Economic Zone Ltd. has climbed 29 per cent in 2022 and hit a record this week, while shares in some of his other companies have surged more than 1,000 per cent in the past two years.
But in the debt market, Adani Ports’ dollar bonds have dropped more than Indian peers on concern about the group’s debt, and its notes due in August 2027 fell to an all-time low this week, Bloomberg-compiled prices show. Bonds of group companies, including Adani Green Energy Ltd. and Adani Transmission Step-One Ltd, also mostly underperformed the broader Indian market.
The diverging moves suggest that high debt poses risks to Adani’s success story that saw his net worth shoot up to only trail Elon Musk’s, the Bloomberg Billionaires Index shows.
The conglomerate’s rapid expansion into areas such as renewable energy and media has left it with leverage that Fitch Group unit CreditSights described as elevated and “a matter of concern.”
“Equity investors are bidding up the shares, giving a premium for the steep growth targets in place,” said Hemindra Hazari, an independent research analyst based in Mumbai. “Debt holders are getting worried about the high leverage.”
Adani Group declined to comment when asked about its dollar bonds underperforming Indian and regional peers. The conglomerate in the past has allayed concerns about the high debt levels, saying its credit metrics have improved in the past few years and it has received equity infusion from global investors.
Adani Ports’ seven dollar-denominated notes have lost about 14 per cent on average so far this year, while Adani Transmission Step-One’s notes due in 2036 and Adani Electricity Mumbai’s 2030 securities have lost more than 17 per cent each. That exceeds a 10 per cent decline for Indian dollar debt overall and a 13 per cent drop in US currency notes in Asia excluding Japan, as rising borrowing costs in the US drag down the region’s greenback debt.
Not all Adani bonds have underperformed the broader market, though, even as they’ve lost money. For instance, Adani Green Energy’s 2024 notes lost 9 per cent, while Adani Ports’ securities due in the same year dropped 4.4 per cent.
The recent run of investments by Adani includes a plan to inject 200 billion rupees ($2.5 billion) into a cement firm that he acquired to bolster his infrastructure empire, and a $70-billion bet on green energy.
Adani’s investment plan provides a “visible path for debt to increase” but a “less transparent path for EBITDA to grow,” particularly further in the future, CreditSights analysts wrote in a note this month.
The Adani Group has disputed CreditSights’ assessments, saying it’s improved its debt metrics over the past decade, with the leverage ratios of its portfolio companies now “healthy” and in line with their respective industries.
Adani Ports’ total debt stood at Rs 45,640 crore at the end of March, according to a statement from the group. That would be the highest in at least 10 years, data compiled by Bloomberg show.
Future potential big-ticket acquisitions by the company could damage its credit profile if they’re largely debt-funded, and its leverage ratio of pro-forma net debt to EBITDA could worsen past the current four times, CreditSights analysts wrote in the report.
For share investors, Adani companies’ growth prospects are key. Citigroup Inc. analysts pointed to Adani Ports’ increasing dominance in India’s port sector and strong operating performance, in a report this month.
Adani Ports’ leading market position and strong financial management could buttress its balance sheet against short-term volume setbacks, and it may be able to maintain capital spending, investment and a 20-25 per cent payout target via dividends and buybacks, Bloomberg Intelligence analysts Denise Wong and Sharon Chen wrote in a report last week.
Bullishness toward Adani Ports has resulted in its stock trading at 25 times its one-year forward profit, making it among the most richly valued port stocks in Asia, according to Bloomberg-compiled data.
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Team India arrived in Nagpur ahead of the second T20I against Australia and the former Indian skipper Virat Kohli found time to catch up with Shark Tank India judge and ex-MD of BharatPe Ashneer Grover.
Both Kohli and Ashneer hail from Delhi, even though the former currently lives with his wife Anushka Sharma and daughter Vamika in Mumbai. Nonetheless, ahead of the second T20I, Virat met up with Ashneer and the latter shared a pic of their meeting.
Grover wrote that the two Delhi boys have a common passion for 'Ben Stokes'. He also wished the 33-year-old well for the second T20I, having failed to record a big total in the first match.
"What could the Delhi boys with a common passion for ‘Ben Stokes’ be discussing? All the best @imVkohli for the match in Nagpur!!" wrote the Shark Tank India judge.
What could the Delhi boys with a common passion for ‘Ben Stokes’ be discussing ? All the best @imVkohli for the match in Nagpur !! pic.twitter.com/6ZZ5OUrbdq
— Ashneer Grover (@Ashneer_Grover) September 21, 2022
Kohli recently scored the 71st international century of his career during Asia Cup 2022. He is the leading run-scorer between India and Australia contests in T20Is.
The 33-year-old could only score two runs in the first T20I in Mohali, but Hardik Pandya played an unbeaten 71-run knock, as well as KL Rahul's half-century. Suryakumar Yadav also added 46 runs as Team India scored 208/6 in their respective 20 overs.
However, they failed to restrict Australian batsmen as the visitors prevailed by four wickets, courtesy of Cameron Green's man of the match-winning performance that saw him open alongside Aaron Finch and score 61 runs. | https://www.dnaindia.com/cricket/report-delhi-boys-with-common-passion-for-ben-stokes-ashneer-grover-shares-pic-of-meetup-with-virat-kohli-2987129 | 2022-09-22T07:50:33 | en | 0.975785 |
The US Federal Reserve on Wednesday increased the interest rates by 75-basis points, which is in line with the market expectation. The Fed fund rate now stands at 3-3.25 per cent. The economic projections indicate that the aggressive rate hikes will continue for the rest of the year in spite of the growth now being projected to slow down sharply.
The US Dollar index has surged breaking above the key level of 110 after the Fed meeting outcome.
The index made a high of 111.78 and has come-off slightly. It is currently at 111.56. The much stronger US dollar has dragged the Indian rupee sharply below the psychological 80-mark. The rupee has made a new low of 80.74 so far and is currently trading at 80.69.
More hikes coming
The dot plot projection released on Wednesday indicates that the Fed fund rate (median projection) is likely to be at 4.4 per cent by the end of 2022 and 4.6 per cent in 2023.
This means that another 125-bps hike to come from the Fed in its next two meetings.
Will it be a 75-50 bps (November-December) or a 100-25 bps? The data that will be released in the coming days will give a cue on it.
As of now, it could more likely be another 75-bps in November and 50-bps in December unless the US inflation shows a strong uptick in September and October. The next Fed meeting outcomes will be on November 2 and December 14, 2022. There is no meeting scheduled for October.
The next year (2023), however, is expected to see just a 25-bps rate hike as per the median projection released.
It is to be noted that the median projection is based on the current situation. There could be changes in it as things evolve going forward.
Growth slowdown
The growth in the US is projected to slow down sharply this year.
The central bank forecasts the US economy to grow at a rate of just 0.2 per cent in 2022.
This is sharply lower against the 1.7 per cent growth projected by the Fed in June this year.
Powell is very clear that the ultimate goal of the Fed will be to bring down inflation to their target two per cent level.
“People are suffering from high inflation. It would be nice if there is an easier way to bring the inflation down without causing pain. But there isn’t,” said the Fed chief in a press conference.
Slowdown in the economy and increase in unemployment rate are the pain points as inferred from Powell’s speech.
The US unemployment is projected to increase to 4.4 per cent next year from 3.8 per cent this year. The unemployment rate in the US is currently at 3.7 per cent.
US Market reaction and outlook
The US dollar strengthened as the Treasury yields surged at the near-end (2- and 5-year) and equities tumbled.
The US dollar index (111.56) has risen sharply breaking above the key level of 110. The overall picture is bullish. The index can test 112 and 114 in the coming weeks. Important to note is that 114 is a strong resistance for the dollar index. The current rally can halt at 114 and see a reversal.
The Dow Jones Industrial Average (30,183.78, down 1.7 per cent) has key supports coming up in the 30,000-29,500 region. A bounce from the 30,000-29,500 support zone is more likely. But it will have to be seen if that bounce is sustaining well or not. This is because the charts indicate that there could be room for the Dow to tumble towards 28,500 before bottoming out.
Domestic market
The Indian Rupee (80.69) has declined to a new low of 80.74 following the sharp rise in the dollar. The rupee is now vulnerable to test 81-81.20 in the coming weeks.
The Indian benchmarks are relatively resilient compared to the global peers.
At the time of filing this report, Nifty 50 (17,582) and Sensex (59,022) are down over 0.7 per cent each.
Despite a further fall from the current levels, the pace of fall could be slow.
Nifty has strong supports at 17,400-17,350 and then at 17,150. Broadly, we can look for wide range of 17,150-18,100 on the Nifty for a few weeks and then a fresh breakout above 18,100 going forward.
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Team India and Australia are all set to cross swords in the second T20I in Nagpur on Friday with the visitors having a 0-1 lead in the three-match series. The second T20I will be a must-win match for the Men in Blue and a defeat could see them lose the series to Australia.
Despite this, the craze of cricket fans in India was on full display as fans gathered outside the Gymkhana Ground in Hyderabad to buy tickets for the third T20I.
Several photos and videos emerged on the internet, showing fans waiting in long queues since 03:00 AM in the morning to buy tickets for the upcoming match.
Since Team India will be playing in Hyderabad after a long time, fans of the city made their passion for the sport clear as their dedication saw them line up in queues outside the venue to buy tickets.
One video showed fans waiting in a very long queue, while another showed fans crowding up the entrance of the gates, with police force also being deployed at the venue to maintain law and order.
This is so disappointing. Passionated fans gathered at Gymkhana Ground to collect India Vs Australia tickets in Hyderabad and they're getting such treatment. pic.twitter.com/OIP96BClOH
— Mufaddal Vohra (@mufaddal_vohra) September 22, 2022
Hyderabad cricket fans waiting for tickets at 5 am today. pic.twitter.com/U4xvFGsVy6 — Johns. (@CricCrazyJohns) September 22, 2022
Feel for the Hyderabad cricket fans, they are standing in the queue from 3 am.pic.twitter.com/cZBgSQaCUa — Johns. (@CricCrazyJohns) September 22, 2022
The first T20I between India and Australia saw Rohit Sharma's side go down by four wickets in Mohali. Hardik Pandya played an unbeaten 71-run knock, as well as KL Rahul's half-century. Suryakumar Yadav also added 46 runs as Team India scored 208/6 in their respective 20 overs.
However, they failed to restrict Australian batsmen as the visitors prevailed by four wickets, courtesy of Cameron Green's man of the match-winning performance that saw him open alongside Aaron Finch and score 61 runs.
Matthew Wade scored the winning runs as he smashed an unbeaten 45-run knock to help the visitors take a 0-1 lead in the series. | https://www.dnaindia.com/cricket/report-ind-vs-aus-video-shows-fans-in-hyderabad-waiting-in-long-queues-since-3am-to-buy-tickets-2987145 | 2022-09-22T07:50:39 | en | 0.962995 |
By MICHAEL R. SISAK and LARRY NEUMEISTER
Associated Press
NEW YORK (AP) — Former President Donald Trump padded his net worth by billions of dollars and habitually misled banks and others about the value of prized assets like golf courses, hotels and his Mar-a-Lago estate, New York’s attorney general said Wednesday in a lawsuit that seeks to permanently disrupt the Republican’s ability to do business in the state.
Attorney General Letitia James dubbed it “The art of the steal.”
The lawsuit, filed in state court in Manhattan, is the culmination of the Democrat’s three-year civil investigation into Trump and the Trump Organization. Trump’s three eldest children, Donald Jr., Ivanka and Eric Trump, were also named as defendants, along with two longtime company executives.
In its 222 pages, the suit struck at the core of what made Trump famous, taking a blacklight to the image of wealth and opulence he’s embraced throughout his career — first as a real estate developer, then as a reality TV host on “The Apprentice” and later as president.
It details dozens of instances of alleged fraud, many involving claims made on annual financial statements that Trump would give to banks, business associates and financial magazines as proof of his riches as he sought loans and deals.
For example, according to the lawsuit, Trump claimed his Trump Tower apartment — a three-story penthouse replete with gold-plated fixtures — was nearly three times its actual size and valued the property at $327 million. No apartment in New York City has ever sold for close to that amount, James said.
Trump applied similar fuzzy math to his Mar-a-Lago estate in Palm Beach, Florida, the lawsuit alleged, by valuing the private club and residence as high as $739 million — more than 10 times a more reasonable estimate of its worth. Trump’s figure is based on the idea that the property could be developed for residential use, but deed terms prohibit that.
“This investigation revealed that Donald Trump engaged in years of illegal conduct to inflate his net worth, to deceive banks and the people of the great state of New York,” James said at a news conference.
“Claiming you have money that you do not have does not amount to the art of the deal. It’s the art of the steal,” she said, referring to the title of Trump’s 1987 memoir, “The Art of the Deal.”
James said the investigation also uncovered evidence of potential criminal violations, including insurance fraud and bank fraud, but that her office was referring those findings to outside authorities for further investigation.
Trump, in a post to his Truth Social platform, decried the lawsuit as “Another Witch Hunt” and denounced James as “a fraud who campaigned on a ‘get Trump’ platform.”
Later, in an interview with Fox News Channel’s Sean Hannity, Trump said his company’s financial disclosures warned banks not to trust the information provided.
“We have a disclaimer right on the front,” he said, that warned banks: “‘You’re at your own risk.’ … ‘Be careful because it may not be accurate. It may be way off.’ … ‘Get your own people. Use your own appraisers. Use your own lawyers. Don’t rely on us.’”
Trump’s lawyer, Alina Habba, said the allegations are “meritless” and the lawsuit “is neither focused on the facts nor the law — rather, it is solely focused on advancing the Attorney General’s political agenda.”
In the lawsuit, James asked the court to ban Trump and his three eldest children from ever again running a company based in the state.
She is also seeking payment of at least $250 million, which she said was the estimated worth of benefits derived from the alleged fraud. And she wants Trump and the Trump Organization from entering into commercial real estate acquisitions for five years, among other sanctions.
James’ lawsuit comes amid a whirlwind of unprecedented legal challenges for a former president, including an FBI investigation into Trump’s handling of classified records and inquiries into his efforts to overturn the 2020 election.
While James’ lawsuit is being pursued in civil court, Manhattan District Attorney Alvin Bragg has been working with James’ office on a parallel criminal investigation.
Trump cited fear of prosecution in August when he refused to answer questions in a deposition with James, invoking his Fifth Amendment protection against self-incrimination more than 400 times.
The odds of a criminal prosecution have been seen as falling in recent months after Bragg allowed a grand jury to disband without bringing charges. Bragg said again Wednesday, though, that the criminal investigation was “active and ongoing.”
A criminal prosecution would have a far higher burden of proof than a civil lawsuit. And in a criminal case, prosecutors would have to prove that Trump intended to break the law, something not necessarily required in a civil case.
“Generally in criminal cases you have to prove intent. In civil cases, just negligence or intentional misrepresentation give rise to liability,” said Neama Rahmani, a former federal prosecutor in San Diego who now practices law at a Los Angeles firm.
The U.S. attorney’s office in Manhattan said it was aware of James’ referral of potential criminal violations, but otherwise declined comment. The Internal Revenue Service’s criminal investigation division said it “doesn’t confirm the existence of investigations until court documents are publicly available.”
The Trump Organization is set to go on trial in October in a criminal case alleging that it schemed to give untaxed perks to senior executives, including its longtime finance chief Allen Weisselberg, who alone took more than $1.7 million in extras.
Weisselberg, 75, pleaded guilty Aug. 18. His plea agreement requires him to testify at the company’s trial before he starts a five-month jail sentence. If convicted, the Trump Organization could face a fine of double the amount of unpaid taxes.
Weisselberg and another Trump Organization executive, Jeffrey McConney, were also named as defendants in James’ lawsuit.
At the same time, the FBI is continuing to investigate Trump’s storage of sensitive government documents at his Mar-a-Lago estate in Florida, and a special grand jury in Georgia is investigating whether Trump and others attempted to influence state election officials.
All of the legal drama is playing out ahead of the November midterm elections, where Republicans are trying to win control of one or both houses of Congress.
Meanwhile, Trump has been laying the groundwork for a potential comeback campaign for president in 2024 and has accused President Joe Biden’s administration of targeting him to hurt his political chances.
Trump’s previous refusal to answer questions in testimony could be held against him if a lawsuit ever reaches a jury. In civil cases, courts are allowed to draw negative inference from such Fifth Amendment pleadings.
“If Trump wanted to argue that some accounting decision was harmless instead of malicious, he might have already passed up the opportunity when he decided to stay silent,” said Will Thomas, an assistant professor of business law at the University of Michigan.
In a previous clash, James oversaw the closure of Trump’s charity for alleging misusing its assets to resolve business disputes and boost his run for the White House. A judge ordered Trump to pay $2 million to an array of charities to settle the matter.
James, who campaigned for office as a Trump critic and watchdog, started scrutinizing his business practices in March 2019 after his former personal lawyer Michael Cohen testified to Congress that Trump exaggerated his wealth on financial statements provided to Deutsche Bank while trying to obtain financing to buy the NFL’s Buffalo Bills.
__
Associated Press reporters Bernard Condon, Bobby Caina Calvan and Jill Colvin in New York and Fatima Hussein in Washington contributed to this report.
__
On Twitter, follow Michael Sisak at twitter.com/mikesisak and Larry Neumeister at twitter.com/lneumeister
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/art-of-the-steal-trump-accused-of-vast-fraud-in-ny-suit/ | 2022-09-22T07:50:44 | en | 0.970386 |
Pakistan vs England 2nd T20I: Babar Azam-led Pakistan gear up to take on England in the second T20I of the ongoing series on Thursday. Moeen Ali's visiting team defeated the hosts in the first match of the series by six wickets in Karachi.
Alex Hales and Harry Brook were in fine form as they helped England beat Pakistan in the first contest of the seven-match series.
While Babar's team will try to stage a comeback in the series, having been completely outplayed in the most recent fixture, the Three Lions will be hoping to further consolidate their grasp on the series and keep the winning momentum going.
Tennis
Indoor golf
...and more games!
Players unwind on their day off#PAKvENG | #UKSePK pic.twitter.com/NJZATdLKR2 — Pakistan Cricket (@TheRealPCB) September 21, 2022
Pakistan vs England 2nd T20I match: When, where and how to watch
Pakistan vs England 2nd T20I match will take place at the National Stadium in Karachi and will begin at 08:00 PM (IST). The toss will take place at 07:30 PM IST.
Pakistan vs England 2nd T20I match: Where to watch?
Pakistan vs England 2nd T20I match will be broadcasted on the Sony Sports Network in India.
Pakistan vs England 2nd T20I match: How to watch live streaming?
Pakistan vs England 2nd T20I match live streaming will be available on the SonyLiv app.
Pakistan vs England probable playing XIs
Pakistan: Babar Azam(C), Khushdil Shah, Shan Masood, Haider Ali, Mohammad Nawaz, Iftikhar Ahmed, Mohammad Rizwan, Haris Rauf, Naseem Shah, Shahnawaz Dahani, Usman Qadir
England: Harry Brook, Dawid Malan, Alex Hales, Moeen Ali (c), Sam Curran, David Willey, Ben Duckett, Phil Salt, Adil Rashid, Reese Topley, Mark Wood | https://www.dnaindia.com/cricket/report-pakistan-vs-england-2nd-t20i-live-streaming-when-and-where-to-watch-pak-vs-eng-2nd-t20i-in-india-sonyliv-2987137 | 2022-09-22T07:50:45 | en | 0.896582 |
With a huge ensemble cast of Aishwarya Rai Bachchan, Chiyaan Vikram, Jayam Ravi, Karthi, Trisha, Sobhita Dhulipala, and Prakash Raj among others, the period drama Ponniyin Selvan: I or Ponniyin Selvan Part 1 is one of the most highly anticipated films in Indian cinema this year.
Karthik Sivakumar aka Karthi, Suriya's younger brother plays the character of Vanthiyathevan, the warrior prince who later becomes the commander of the Chola army, in the Tamil film. In a recent promotional event, the Kaithi actor shared how the Mani Ratnam directorial is different from other period dramas.
As per a report in News18, the actor said that the Roja director hasn't relied on VFX alone and shot the film in historical and live locations to make it more realistic, unlike other period actioners which heavily rely on VFX for its grand visual effects. Karthi even added that Ponniyin Selvan's story has also been given a lot of emphasis.
Based on the 1955 Kalki Krishnamurthy’s novel Ponniyin Selvan, the upcoming period drama is a fictional film that takes its inspiration from real historical events and characters from the Chola empire and there have been various attempts in Tamil cinema to adapt the novel on the big screen.
Mani Ratnam has finally been able to pull off this huge project and has made the film in two parts, the first of which will hit theatres next Friday. Karthi, in his interview with Film Companion South, said that the film is a dream come true for Tamil cinema as he said, "This film has been a dream for Tamil cinema for the past 60-70 years. This is a special moment not only for our generation but also for our collective Tamil society."
READ | Ponniyin Selvan: Kamal Haasan talks about his dream to adapt Kalki's novel, says Mani Ratnam's film will be a success
Ponniyin Selvan: I is slated to release in theatres on September 30 in five languages namely Tamil, Hindi, Telugu, Malayalam, and Kannada. It will clash with Hrithik Roshan and Saif Ali Khan starrer Vikram Vedha, an official Hindi remake of the Tamil film of the same name. | https://www.dnaindia.com/entertainment/report-ponniyin-selvan-karthi-aka-vanthiyathevan-shares-how-mani-ratnam-film-is-unlike-other-period-dramas-2987138 | 2022-09-22T07:50:51 | en | 0.958125 |
By JOE McDONALD
AP Business Writer
BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more.
Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices gained.
Wall Street’s benchmark S&P 500 index fell 1.7% on Wednesday to its lowest level in two months after the Fed raised its benchmark lending rate by 0.75 percentage points, three times its usual margin. The Fed said it expects that rate to be a full percentage point higher by the end of the year than it did three months ago.
“The Fed still managed to out-hawk the markets,” Anna Stupnytska of Fidelity International said in a report. “Economic strength and a hot labor market point to a limited trade-off — at least for the time being — between growth and inflation.”
The Shanghai Composite Index lost less than 0.1% to 3,115.94 and the Nikkei 225 in Tokyo slid 0.9% to 27,060.89. Hong Kong’s Hang Seng tumbled 1.9% to 18,094.62.
The Kospi in Seoul sank 1.4% to 2,315.24. New Zealand edged up 0.1% while Southeast Asian markets declined.
The Fed and central banks in Europe and Asia have raised interest rates this year to slow economic growth and cool inflation that is at multi-decade highs.
Traders worry they might derail global economic growth. Fed officials acknowledge the possibility such aggressive rate hikes might bring on a recession but say inflation must be brought under control. They point to a relatively strong U.S. job market as evidence the economy can tolerate higher borrowing costs.
The yield on the 2-year Treasury, or the difference between the market price and the payout if held to maturity, rose to 4.02% from 3.97% late Tuesday. It was trading at its highest level since 2007.
The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.52% from 3.56% from late Tuesday.
The S&P 500 fell to 3,789.93. The Dow fell 1.7% to 30,183.78, and the Nasdaq composite lost 1.8% to 11,220.19.
The major Wall Street indexes are on pace for their fifth weekly loss in six weeks.
Fed chair Jerome Powell stressed his resolve to lift rates high enough to slow the economy and drive inflation back toward the central bank’s 2% goal. Powell said the Fed has just started to get to that level with this most recent increase.
The central bank’s latest rate hike lifted its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level in 14 years, and up from zero at the start of the year.
The Fed said its benchmark rate may be raised to roughly 4.4% by year’s end, a full point higher than envisioned in June.
U.S. consumer prices rose 8.3% in August. That was down from July’s 9.1% peak, but core inflation, which strips out volatile food and energy prices to give a clearer picture of the trend, rose to 0.6% over the previous month, up from July’s 0.3% increase.
Central bankers in Japan, Britain, Switzerland and Norway are due to report on whether they also will raise rates again. Sweden surprised economists this week with a full-point hike.
The global economy also has been roiled by Russia’s invasion of Ukraine, which pushed up prices of oil, wheat and other commodities.
In energy markets, benchmark U.S. crude gained 19 cents to $83.13 per barrel in electronic trading on the New York mercantile Exchange. The contract fell $1 to $82.94 on Wednesday. Brent crude, the price basis for international oil trading, advanced 26 cents to $90.09 in London. It lost 79 cents the previous session to $89.83.
The dollar gained to 144.50 yen from Wednesday’s 143.46 yen. The euro fell to 98.15 cents from 99.09 cents.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/ap-news/2022/09/21/asia-stocks-follow-wall-st-down-as-fed-fights-inflation-2/ | 2022-09-22T07:50:50 | en | 0.953922 |
Moonlighting has been a part of the headlines over the last few weeks, and the term was one of the key discussions among IT workers after Wipro fired 300 employees that were found moonlighting. As per the company, the employees were violating the privacy of the company and it also compromised the sensitive data of the firm. Wipro’s chairman clearly stated that the company won’t entertain employees with similar practices. But what is moonlighting? Read more to find out.
What is moonlighting?
Moonlighting is when a person takes on a side job in addition to their primary job to support their income. They may also refer to it informally as a side hustle or side gig. People may moonlight out of necessity when their primary job's pay is insufficient to support them or just because they want to increase their income. Working a side job is also referred to as moonlighting informally when it is done after regular working hours. A person might have more than one side job, and a side job can be a full-time position, a part-time contract, or freelance work.
Moonlighting has become a frequent practice among employees working for IT companies during the past two years. In Bengaluru, an IT worker was discovered balancing seven different jobs. Another incident involved a well-known IT business employee who refused to come back to work, forcing the employer to request a forensic investigation. An investigation revealed that he had been working for another organisation without leaving the previous one and had been emailing sensitive information.
Experts say it is one of the major causes of individuals' not wanting to get back to work. Although there are no laws that make it illegal for anyone to work side by side, it completely depends on the company if it allows its employees to simultaneously work with other companies.
Employees at Infosys have received a mail reminder that moonlighting or taking up multiple jobs is against the company's code of conduct. This comes after Rishad Premji, the chairman of Wipro, publicly expressed his outrage over the practice, calling it "plain and simple cheating." | https://www.dnaindia.com/explainer/report-wipro-sacks-300-employees-what-is-moonlighting-why-are-indian-companies-against-moonlighting-2987139 | 2022-09-22T07:50:57 | en | 0.980206 |
By JOE McDONALD
AP Business Writer
BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more.
Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices gained.
Wall Street’s benchmark S&P 500 index fell 1.7% on Wednesday to its lowest level in two months after the Fed raised its benchmark lending rate by 0.75 percentage points, three times its usual margin. The Fed said it expects that rate to be a full percentage point higher by the end of the year than it did three months ago.
“The Fed still managed to out-hawk the markets,” Anna Stupnytska of Fidelity International said in a report. “Economic strength and a hot labor market point to a limited trade-off — at least for the time being — between growth and inflation.”
The Shanghai Composite Index lost less than 0.1% to 3,115.94 and the Nikkei 225 in Tokyo slid 0.9% to 27,060.89. Hong Kong’s Hang Seng tumbled 1.9% to 18,094.62.
The Kospi in Seoul sank 1.4% to 2,315.24. New Zealand edged up 0.1% while Southeast Asian markets declined.
The Fed and central banks in Europe and Asia have raised interest rates this year to slow economic growth and cool inflation that is at multi-decade highs.
Traders worry they might derail global economic growth. Fed officials acknowledge the possibility such aggressive rate hikes might bring on a recession but say inflation must be brought under control. They point to a relatively strong U.S. job market as evidence the economy can tolerate higher borrowing costs.
The yield on the 2-year Treasury, or the difference between the market price and the payout if held to maturity, rose to 4.02% from 3.97% late Tuesday. It was trading at its highest level since 2007.
The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.52% from 3.56% from late Tuesday.
The S&P 500 fell to 3,789.93. The Dow fell 1.7% to 30,183.78, and the Nasdaq composite lost 1.8% to 11,220.19.
The major Wall Street indexes are on pace for their fifth weekly loss in six weeks.
Fed chair Jerome Powell stressed his resolve to lift rates high enough to slow the economy and drive inflation back toward the central bank’s 2% goal. Powell said the Fed has just started to get to that level with this most recent increase.
The central bank’s latest rate hike lifted its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level in 14 years, and up from zero at the start of the year.
The Fed said its benchmark rate may be raised to roughly 4.4% by year’s end, a full point higher than envisioned in June.
U.S. consumer prices rose 8.3% in August. That was down from July’s 9.1% peak, but core inflation, which strips out volatile food and energy prices to give a clearer picture of the trend, rose to 0.6% over the previous month, up from July’s 0.3% increase.
Central bankers in Japan, Britain, Switzerland and Norway are due to report on whether they also will raise rates again. Sweden surprised economists this week with a full-point hike.
The global economy also has been roiled by Russia’s invasion of Ukraine, which pushed up prices of oil, wheat and other commodities.
In energy markets, benchmark U.S. crude gained 19 cents to $83.13 per barrel in electronic trading on the New York mercantile Exchange. The contract fell $1 to $82.94 on Wednesday. Brent crude, the price basis for international oil trading, advanced 26 cents to $90.09 in London. It lost 79 cents the previous session to $89.83.
The dollar gained to 144.50 yen from Wednesday’s 143.46 yen. The euro fell to 98.15 cents from 99.09 cents.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/asia-stocks-follow-wall-st-down-as-fed-fights-inflation/ | 2022-09-22T07:50:57 | en | 0.953922 |
- AUD/USD continues losing ground for the third straight day and drops to over a two-year low.
- The post-FOMC USD rally remains uninterrupted and continues to exert downward pressure.
- The risk-off impulse further contributes to driving flows away from the risk-sensitive aussie.
The AUD/USD pair remains under heavy selling pressure for the third straight day on Thursday and drops to the 0.6580 region - the lowest since May 2020 during the early European session.
The US dollar builds on the previous day's post-FOMC breakout momentum and hits a fresh 20-year high, which, in turn, is seen as a key factor dragging the AUD/USD pair lower. It is worth recalling that the Fed raised interest rates by another 75 bps on Wednesday and signalled that it will likely undertake more aggressive rate increases to cap inflation. This, along with the prevalent risk-off environment, provides an additional lift to the safe-haven greenback.
The market sentiment remains fragile amid growing worries about a deeper economic downturn and the risk of a further escalation in the Russia-Ukraine conflict. In the latest development, Russian President Vladimir Putin announced an immediate partial military mobilization and threatened to use all the means to defend Russia and its people. This, in turn, takes its toll on the global risk sentiment and contributes to driving flows away from the risk-sensitive aussie.
With the latest leg down, the AUD/USD pair confirms this week's bearish breakdown through the 0.6700 mark. A subsequent slide below descending trend-line support extending from December 2020 might have already set the stage for additional weakness. Given that technical indicators on the daily chart are still far from being in the oversold territory, spot prices seem vulnerable to extending the descending trend and aim toward testing the 0.6500 psychological mark.
Technical levels to watch
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EUR/USD eases towards 0.9800 amid risk aversion, USD strength
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Gold stays bearish below $1,680 hurdle, focus on central banks
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USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
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BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/aud-usd-weakens-further-below-06600-lowest-since-may-2020-amid-relentless-usd-buying-202209220701 | 2022-09-22T07:51:01 | en | 0.942455 |
Abdominal distention is the outward expansion of the abdomen beyond the normal girth of the stomach and waist, in other words, abdominal distention is a visible or actual increase in abdominal size. Abdominal distention is not a disease in itself but rather a symptom or indicator gran underlying disease or dysfunction in the body. The distention may be caused by gas or fluid collection that causes an outward expansion of the stomach and waist beyond normal proportion. A swollen abdomen is often uncomfortable and even painful.
Causes
Symptoms
Diagnosis and treatment
The doctor starts the evaluation by taking a complete medical history looking for any, previous conditions, and performing a thorough physical examination The physical examination is done by percussing the stomach. The patient may also be., questioned about the diet, existing allergies, and medications.
Further investigation can be done by taking blood tests, liver function tests, urinalysis, and kidney function.
Treatment option
The treatment plan may be determined by the patient's age and other coexisting diseases. Abdominal distention caused by irritable bowel syndrome may only require diet and lifestyle changes to help manage the condition, which may reduce symptoms Getting more exercise to keep the digestive tract working more efficiently. | https://www.dnaindia.com/health/report-abdominal-distention-all-you-need-to-know-about-its-causes-symptoms-and-treatments-2987148 | 2022-09-22T07:51:03 | en | 0.919785 |
By AAMER MADHANI and ZEKE MILLER
Associated Press
UNITED NATIONS (AP) — President Joe Biden declared at the United Nations on Wednesday that Russia has “shamelessly violated the core tenets” of the international body with its war in Ukraine as he summoned nations around the globe to stand firm in backing the Ukrainian resistance.
Delivering a forceful condemnation of Russia’s seven-month invasion, Biden said reports of Russian abuses against civilians and its efforts to erase Ukraine and its culture “should make your blood run cold.” He referenced President Vladimir Putin’s announcement Wednesday that he had ordered a partial mobilization of reservists, a deeply unpopular step that sparked protests in Russia.
And Putin’s new nuclear threats against Europe showed “reckless disregard” for Russia’s responsibilities as a signer of the Treaty on the Non-Proliferation of Nuclear Weapons, Biden said.
He also criticized Russia for scheduling “sham referenda” this week in territory it has forcibly seized in Ukraine.
“A permanent member of the U..N Security Council invaded its neighbor, attempted to erase a sovereign state from the map. Russia has shamelessly violated the core tenets of the U.N. charter,” he told his U.N. audience.
Biden’s speech was part of an effort to maintain Russia’s isolation on the global stage as the costs of war mount, worries about energy this winter loom and Congress is likely to look more skeptically on spending more on military defense. The president called on all nations, whether democracies or autocracies, to speak out against Russia’s “brutal, needless war” and to bolster’s Ukraine effort to defend itself.
“We will stand in solidarity against Russia’s aggression, period,” Biden said.
Biden also highlighted consequences of the invasion for the world’s food supply, pledging $2.9 billion in global food security aid to address shortages caused by the war and the effects of climate change. He praised a U.N.-brokered effort to create a corridor for Ukrainian grain to be exported by sea, and called on the agreement to be continued despite the ongoing conflict.
Biden, during his time at the U.N. General Assembly, met with Secretary General António Guterres and held his first meeting with new British Prime Minister Liz Truss, during which they discussed Russia’s war, energy security and China. He also met with French President Emmanuel Macron, Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol.
Biden also pressed nations to meet an $18 billion target to replenish the Global Fund to Fight AIDS, tuberculosis and malaria, reiterating the U.S. commitment of $6 billion to that goal.
“Now is the moment to accelerate our efforts to reduce health inequities, and to address barriers to access including gender and human rights barriers to build a more inclusive healthcare systems, to leave no one behind, to end AIDS, tuberculosis and malaria for good,” Biden said, as he was joined by leaders from Japan, Germany, France, Canada and the EU for the announcement.
But the heart of the president’s visit to the U.N. this year was his full-throated censure of Russia as its war nears the seven-month mark. One of Russia’s deputy U.N. ambassadors, Gennady Kuzmin, was sitting in Russia’s seat during Biden’s speech.
The address came as Russian-controlled regions of eastern and southern Ukraine have announced plans to hold Kremllin-backed referendums on becoming part of Russia and as Moscow was losing ground in the invasion.
Putin’s decision to “wave around the nuclear card” in televised remarks falls in line with previous menacing rhetoric he’s used during the war, according to a senior Biden administration official who was not authorized to comment publicly and spoke on the condition of anonymity. The official added that the administration has gleaned “no specific information, signals or moods” from Putin that suggest he’s taking action to prepare for utilizing Russia’s nuclear weaponry.
The White House said the global food security funding includes $2 billion in direct humanitarian assistance through the United States Agency for International Development. The balance of the money will go to global development projects meant to boost the efficiency and resilience of the global food supply.
“This new announcement of $2.9 billion will save lives through emergency interventions and invest in medium- to long-term food security assistance in order to protect the world’s most vulnerable populations from the escalating global food security crisis,” the White House said.
Biden was confronting no shortage of difficult issues as leaders gathered this year.
In addition to the Russian war in Ukraine, European fears that a recession could be just around the corner are heightened. Administration concerns grow by the day that time is running short to revive the Iran nuclear deal and over China’s saber-rattling on Taiwan.
His Wednesday address comes on the heels of Ukrainian forces retaking control of large stretches of territory near Kharkiv. But even as Ukrainian forces have racked up battlefield wins, much of Europe is feeling painful blowback from economic sanctions levied against Russia. A vast reduction in Russian oil and gas has led to a sharp jump in energy prices, skyrocketing inflation and growing risk of Europe slipping into a recession.
Biden’s visit to the U.N. also comes as his administration’s efforts to revive the 2015 Iran nuclear deal appear stalled.
The deal brokered by the Obama administration — and scrapped by Trump in 2018 — provided billions of dollars in sanctions relief in exchange for Iran’s agreement to dismantle much of its nuclear program and open its facilities to extensive international inspection.
“While the United States is prepared for a mutual return to the Joint Comprehensive Plan of Action, if Iran steps up to its obligations, the United States is clear: We will not allow Iran to acquire nuclear weapons,” Biden said.
U.S. National Security Adviser Jake Sullivan said administration officials would be consulting with fellow signers of the 2015 agreement on the sidelines of this week’s meetings.
This year’s U.N. gathering is back to being a full-scale, in-person event after two years of curtailed activity due to the pandemic.
China’s President Xi Jinping opted not to attend this year’s U.N. gathering, but his country’s conduct and intentions loomed large.
Weeks after tensions flared across the Taiwan Strait as China objected to the visit to Taiwan of House Speaker Nancy Pelosi, Biden called for “peace and stability” and said the U.S. would “oppose unilateral changes in the status quo by either side.” That came days after Biden repeated that the U.S. would militarily assist Taiwan if China sought to invade.
China’s government on Monday said Biden’s statement in a CBS “60 Minutes” interview that American forces would defend the self-ruled island was a violation of U.S. commitments on the matter, but it gave no indication of possible retaliation.
Biden on Wednesday also declared that “fundamental freedoms are at risk in every part of our world,” citing last month’s U.N. human rights office report raising concerns about possible “crimes against humanity” in China’s western region against Uyghurs and other largely Muslim ethnic groups.
He also singled out for criticism the military junta in Myanmar, the Taliban controlling Afghanistan, and Iran, where he said the U.S. supports protests in Iran that sprang up in recent days after a 22-year-old woman died while being held by the morality police for violating the country’s Islamic dress code.
“Today we stand with the brave citizens and the brave women of Iran, who right now are demonstrating to secure their basic rights,” Biden said.
Biden also highlighted his administration’s new investments in addressing climate change, primarily through last month’s passage of Democrats’ massive “Inflation Reduction Act” which marks the largest single U.S. investment in addressing climate change.
He encouraged other nations to meet their own environmental commitments. “And none too soon — we don’t have much time.”
___
AP writer Zeke Miller reported from Washington.
___
Follow AP coverage of the U.N. General Assembly at https://apnews.com/hub/united-nations-general-assembly
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/biden-russias-ukraine-abuses-make-your-blood-run-cold-3/ | 2022-09-22T07:51:04 | en | 0.955689 |
The Bank of England (BoE) is set to raise its policy rate by 50 bps. In the opinion of economists at Commerzbank, even a 75 bps hike will not be sufficient to lift the British pound.
BoE under particular pressure to deliver a courageous rate hike
“The BoE is under particular pressure today to deliver a courageous rate hike. However, even a 75 bps rate hike (expected is rather a 50 bps hike) is not likely to be sufficient to provide a lasting breather for sterling.
“The dire growth outlook, rising government debt and high current account deficit point towards depreciation pressure on sterling continuing for now.”
See – BoE Preview: Forecasts from 10 major banks, a close call between 50 bps and 75 bps
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/boe-even-a-75-bps-rate-hike-is-unlikely-to-provide-relief-for-sterling-commerzbank-202209220658 | 2022-09-22T07:51:08 | en | 0.94332 |
Due to the low-pressure area over the Bay of Bengal and Western Disturbances, many states of India are battling heavy rains. Keeping this in mind, the Indian Meteorological Department (IMD) issued an alert of heavy rain in 25 states including Uttar Pradesh, Madhya Pradesh, and Rajasthan on Thursday.
According to IMD, east Uttar Pradesh, west Madhya Pradesh, and Rajasthan could witness heavy to very heavy rainfall today. An orange alert has also been issued in these states. A yellow alert has been issued for over 25 states of India. According to IMD, Jammu, and Kashmir, Himachal, Uttarakhand, Punjab, Haryana, Delhi, West Uttar Pradesh, East Madhya Pradesh, some parts of Maharashtra, Telangana, some parts of Andhra Pradesh, Chhattisgarh, Odisha, Jharkhand, West Bengal, Sikkim might witness heavy rains.
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In Arunachal Pradesh, Assam, Meghalaya, Nagaland, Manipur, Mizoram, and Tripura, light to moderate rain and thundershower warnings have been issued at some places. A yellow alert has been issued in these states.
Odisha Rains
A heavy rainfall warning has been issued for several western and interior districts of Odisha till Thursday morning. The coastal and southern regions of the state had experienced heavy rain induced by the formation of low pressure for two consecutive days.
Meanwhile, an intense spell of rain continued in Bhubaneswar, along with western and interior parts of the state, on Wednesday.
Tamil Nadu Rains
IMD has also predicted light to moderate rain in some parts of Tamil Nadu, including coastal areas and areas adjourning the Western Ghats.
The IMD also predicted that most parts of the state would experience subdued weather as South West Monsoon turned weak in the state. Weathermen said that there was no specific system that would lead to a large-scale rainfall in the state.
The state capital Chennai is likely to receive thunderstorms and lighting in the next few days and there is a likelihood of light to moderate rains over the city.
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Madhya Pradesh Rains
IMD has said that there is a possibility of heavy rains in Morena, Chhatarpur, Tikamgarh, and Niwari of Madhya Pradesh today. There is an alert of heavy rain in about 20 districts including districts of Narmadapuram and Gwalior divisions.
Delhi NCR Rains
Delhi is also likely to have light to moderate rain in the subsequent two-three days before the monsoon withdraws, IMD said. On September 21, a few areas in the west, central, north, northwest, south, and southeast Delhi recorded light to moderate rainfall.
The weather bureau attributed the rainfall to lower-level moisture-laden easterly and southeasterly winds reaching Delhi-NCR due to a low-pressure area over northwest Bay of Bengal and the presence of a western disturbance as a trough in mid-tropospheric westerlies. | https://www.dnaindia.com/india/report-imd-weather-update-orange-alert-issued-in-uttar-pradesh-madhya-pradesh-heavy-rain-warning-25-indian-states-2987157 | 2022-09-22T07:51:09 | en | 0.960461 |
By ANIRUDDHA GHOSAL
AP Science Writer
BENGALURU, India (AP) — Eight-year-old Jerifa Islam only remembers the river being angry, its waters gnawing away her family’s farmland and waves lashing their home during rainy season flooding. Then one day in July of 2019, the mighty Brahmaputra River swallowed everything.
Her home in the Darrang district of India’s Assam state was washed away. But the calamity started Jerifa and her brother, Raju 12, on a path that eventually led them to schools nearly 2,000 miles (3,218 kilometers) away in Bengaluru, where people speak the Kannada language that is so different from the children’s native Bangla.
Those early days were difficult. Classes at the free state-run schools were taught in Kannada, and Raju couldn’t understand a word of the instruction.
But he persisted, reasoning that just being in class was better than the months in Assam when submerged roads kept him away from school for months. “Initially I didn’t understand what was happening, then with the teacher explaining things to me slowly, I started learning,” he said.
___
EDITOR’S NOTE: This story is part of an ongoing series exploring the lives of people around the world who have been forced to move because of rising seas, drought, searing temperatures and other things caused or exacerbated by climate change.
___
The children were born in a low-lying village, flanked by the Himalayas and the river. Like many parts of northeastern India, it was no stranger to heavy rains and naturally occurring floods.
But their father, Jaidul Islam, 32, and mother Pinjira Khatun, 28, knew something had changed. The rains had become more erratic, flash floods more frequent and unpredictable. They were among the estimated 2.6 million people in the Assam state affected by floods the year they decided to move to Bengaluru, a city of over 8 million known as India’s Silicon Valley.
No one in their family had ever moved so far from home, but any lingering doubts were outweighed by dreams of a better life and a good education for their children. The couple spoke a little Hindi — India’s most widely used language — and hoped that would be enough to get by in the city, where they knew nearby villagers had found work.
The two packed what little they could salvage into a large suitcase they hoped to someday fill with new belongings. “We left home with nothing. Some clothes for the kids, a mosquito net, and two towels. That was it,” said Islam.
The suitcase is now filling up with school exercise books — and the parents, neither with any formal education, said their lives center on ensuring their kids have more opportunities. “My children will not face the same problems that I did,” the father said.
___
The family fled the low-lying Darrang district, which receives heavy rainfall and natural flooding. But rising temperatures with climate change have made monsoons erratic, with the bulk of the season’s rainfall falling in days, followed by dry spells. The district is among the most vulnerable to climate change in India, according to a New-Delhi based thinktank.
Floods and droughts often occur simultaneously, said Anjal Prakash, a research director at India’s Bharti Institute of Public Policy. The natural water systems in the Himalayan region that people had relied on for millennia are now “broken,” he said.
In the past decade, Prakash said, the number of climate migrants in India has been growing. And over the next 30 years, 143 million people worldwide will likely be uprooted by rising seas, drought and unbearable heat, the Intergovernmental Panel on Climate Change reported this year.
India estimates it has around 139 million migrants, but unclear is how many had to move because of climate change. By 2050, cities like Bengaluru are predicted to become the preferred destination for the nearly 40 million people in South Asia forced by climate change to leave their homes, according to a 2021 World Bank report.
“Especially if you’ve aspirations for your second generation, you have to move,” said Prakash.
In the suburban area where Jerifa and her family now live, most people are from Assam state, many forced to migrate because of climate change and dreaming of a better future: There is Shah Jahan, 19, a security guard who wants to be a YouTube influencer. There is Rasana Begum, a 47-year-old cleaner who hopes her two daughters will become nurses. Their homes, too, were washed away in floods.
Pinjira and Jaidul have both found work with a contractor who provides housekeeping staff to the offices of U.S. and Indian tech companies. Jaidul earns $240 a month, and his wife about $200 — compared to the $60 he’d made from agriculture. Raju’s new private school fees cost a third of their income, and the family saves nothing. But, for the first time in years, in their new home — a 10 feet by 12 feet (3 meters by 3.6 meters) room with a tin roof and sporadic electricity — they feel optimistic about the future.
“I like that I can work here. Back home, there was no work for women. … I am happy,” said Pinjira.
For now, Raju dreams of doing well at his new school. He has benefitted from a year-long program run by Samridhi Trust, a non-profit that helps migrant children get back to the education system by teaching them basic Kannada, English, Hindi and math. Teachers test students every two months to help them transition into state-run free schools that instruct in Kannada — or in some cases, like Raju’s, English.
“My favorite subject is math,” said the 12-year-old, adding that his favorite time of day was the bus ride to school. “I love looking out of the window and seeing the city and all the big buildings.”
His sister, who wants to be a lawyer someday, has picked up Kannada faster than he has and chats happily with new classmates at her nearby government school, switching easily between her native and adopted tongues.
Their parents work alternate shifts to ensure somebody is home in case of emergencies. “They are young and can get into trouble, or get hurt,” said Khatun. “And we don’t know anybody here.”
Their anxiety isn’t unique. Many parents worry about safety when they send their children to schools in unfamiliar neighborhoods, said Puja, who uses only one name and coordinates Samridhi Trust’s after-school program.
Children of migrants often tend to drop out, finding classes too hard. But Raju considers his school’s “discipline” refreshing after chaotic life in a poor neighborhood.
His mother misses her family and speaks with them over the phone. “Maybe I’ll go back during their holidays,” she said.
Her husband does not want to return to Assam — where floods killed nine people in their district this year — until the children are in a higher grade. “Maybe in 2024 or 2025,” he said.
Every afternoon, the father waits patiently, scanning the street for Raju’s yellow bus. When home, the boy regales him with stories about his new school. He says he now knows how to say “water” in Kannada, but that none of his new classmates know what a “real flood” looks like.
——
Follow Aniruddha Ghosal in Twitter: @aniruddhg1
___
Associated Press climate and environmental coverage receives support from several private foundations. See more about AP’s climate initiative here. The AP is solely responsible for all content.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/climate-migration-indian-kids-find-hope-in-a-new-language/ | 2022-09-22T07:51:11 | en | 0.979498 |
Bank of Japan (BOJ) Governor Harihuko Kuroda continues to speak at the press conference that follows the bank’s monetary policy meeting.
Key quotes
Economy, economic outlook still needs vigilance over coronavirus pandemic.
Won't rule out possibility of altering forward guidance in future.
No need to change forward guidance at present.
Negative rates are not having big negative impact on financial institutions.
Kept existing forward guidance unchanged as pandemic’s impact is still in place, must be vigilant going forward as downside risk to economy.
No need to abolish negative interest rate just to follow overseas central banks responding to higher inflation rates.
Don't see need to lower Japan economic growth outlook from Fed rate hike.
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Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
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BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/bojs-kuroda-no-need-to-change-forward-guidance-at-present-202209220652 | 2022-09-22T07:51:14 | en | 0.937689 |
Rahul Gandhi's Bharat Jodo Yatra became the subject of jokes for the BJP after Hindutva icon Vinayak Damodar Savarkar was featured in a Congress poster in Kerala. As Savarkar adorned the poster meant for freedom fighters, BJP took a swipe at the party saying it was a "good realisation" for the Congress leader.
"Veer Savarkar’s pictures adorn Congress's Bharat Jodo Yatra in Ernakulum (near the airport). Although belated, good realisation for Rahul Gandhi, whose great grandfather Nehru, signed a mercy petition, pleaded the British to allow him to flee from Punjab’s Nabha jail in just 2 weeks," BJP leader Amit Malviya tweeted on Thursday.
Savarkar is one of the biggest pre-Independence heroes for the BJP and other right-wing parties. Congress, however, claims no RSS leader participated in the Independence struggle, including Savarkar.
Explaining the gaffe, Congress said it was a printing mistake. They said they had taken action against the person who got the poster printed.
The banner had Savarkar's photo among the photographs of Maulana Abul Kalam Azad, Gobind Ballabh Pant and Chandrashekhar Azad.
BJP leader Shehzad Poonawalla also tweeted about the banned. "Rahul ji, no matter how much you try history and the truth comes out Savarkar was Veer! Those who hide are the 'kaayars', he added.
Meanwhile, Congress MP K Suresh said the man who printed the banner must have been affiliated with BJP or RSS.
"I think the man who printed the banner may be a BJP-RSS person and did it deliberately. Congress workers will never ask for Savarkar's photo on the banner. We will inquire. Our leadership took action and immediately suspended the local leader," he added.
Suresh, the local leader who printed the banner, explained what went wrong.
He said the 88-feet-long banner was supposed to contain photos of the freedom fighters. The final draft was given on Tuesday at 9 pm. There were 22 photos on it. The copy was sent to him for checking but he apparently didn't do it properly.
He said the list was prepared by taking images taken after typing freedom fighters from the internet.
"I could not verify further. I didn't notice. The fault lies with me. Someone took a photo or video of this flex when I put it. That's how it got discussed on social media. I didn't think this matter would be so serious," he added.
He further said that as soon as the faux pas came to light, it was covered with Mahatma Gandhi's picture.
"When there was a problem, I used Gandhi's picture and covered it. But on the instructions of the party leaders, the entire flex was removed. It was a flex which cost Rs 9000. I don't mind that the party has taken action against me. Because I did the wrong thing. I am apologizing to the party and workers for the mistake due to my carelessness," the suspended leader added. | https://www.dnaindia.com/india/report-vinayak-damodar-savarkar-poster-in-rahul-gandhi-s-bharat-jodo-yatra-congress-gaffe-explained-2987143 | 2022-09-22T07:51:16 | en | 0.98497 |
By PIA SARKAR
Associated Press
While world leaders from wealthy countries acknowledge the “existential threat” of climate change, Tuvalu Prime Minister Kausea Natano is racing to save his tiny island nation from drowning by raising it four to five meters above sea level through land reclamation.
While experts issue warnings about the eventual uninhabitability of the Marshall Islands, President David Kabua must reconcile the inequity of a seawall built to protect one house that is now flooding another one next door.
That is the reality of climate change: Some people get to talk about it from afar, while others must live it every day.
Natano and Kabua tried to show that reality on Wednesday on the sidelines of the U.N. General Assembly. Together they launched the Rising Nations Initiative, a global partnership aimed to preserve the sovereignty, heritage and rights of Pacific atoll island nations whose very existence have been threatened by climate change.
Natano described how rising sea levels have impacted everything from the soil that his people rely on to plant crops, to the homes, roads and power lines that get washed away. The cost of eking out a living, he said, eventually becomes too much to bear, causing families to leave and the nation itself to disappear.
“This is how a Pacific atoll dies,” Natano said. “This is how our islands will cease to exist.”
The Rising Nations Initiative seeks a political declaration by the international community to preserve the sovereignty and rights of Pacific atoll island countries; the creation of a comprehensive program to build and finance adaptation and resilience projects to help local communities sustain livelihoods; a living repository of the culture and unique heritage of each Pacific atoll island country; and support to acquire UNESCO World Heritage designation.
The initiative has already gained the support of countries like the United States, Germany, South Korea and Canada, all of which have acknowledged the unique burden that island nations like Tuvalu and the Marshall Islands must shoulder.
A U.N. Intergovernmental Panel on Climate Change report released in February spelled out the vulnerability of small island developing states and other global hotspots like Africa and South Asia, whose populations are 15 times more likely to die from extreme weather compared to less vulnerable parts of the world.
If warming exceeds a few more tenths of a degree, it could lead to some areas — including some small islands — becoming uninhabitable, said report co-author Adelle Thomas of Climate Analytics and the University of the Bahamas. On Wednesday, Natano noted that Tuvalu and its Pacific neighbors “have done nothing to cause climate change,” with their carbon emission contribution amounting to less than .03% of the world’s total.
“This is the first time in history that the collective action of many nations will have made several sovereign countries uninhabitable,” he said.
Representatives from other nations who attended Wednesday’s event did not deflect responsibility. But whether they will do enough to turn things around remains to be seen.
Several have pledged money to help island nations pay for early warning systems and bring their buildings up to code to better protect them from hurricanes and other weather events. But there was less talk of mitigating the problem of climate change and more about how to adapt to the devastation it has already wrought.
“We see this train coming, and it’s coming down the track, and we need to get out of the way,” said Amy Pope, deputy director general of the International Organization for Migration.
Germany’s climate envoy, Jennifer Morgan, who also attended Wednesday’s event, spoke of her country’s target to reach carbon neutrality by 2045. But while Germany remains committed to phasing out coal as a power source by 2030, it has had to reactivate coal-fired power plants to get through the coming winter amid energy shortages as a result of Russia’s war in Ukraine.
For the president of the Marshall Islands, wealthy nations could be doing much more. During his speech to the U.N. General Assembly on Tuesday, Kabua urged world leaders to take on sectors that rely on fossil fuels, including aviation and shipping. He pointed to the Marshall Islands’ carbon levy proposal for international shipping that he says “will drive the transition to zero emission shipping, channeling resources from polluters to the most vulnerable.”
U.N. Secretary-General Antonio Guterres has likewise encouraged going after the world’s largest polluters. During his opening remarks to the assembly on Tuesday, he pushed for richer countries to tax the profits of energy companies and redirect the funds to both “countries suffering loss and damage caused by the climate crisis” and those struggling with the rising cost of living.
In the meantime, as wealthy countries urge action instead of words in their own U.N. speeches, Kabua, Natano and their fellow island nation leaders will continue to grapple with their daily climate change reality — and try to continue to exist.
___
Pia Sarkar, a Philadelphia-based journalist for The Associated Press, is on assignment covering the U.N. General Assembly. Follow her on Twitter at http://twitter.com/PiaSarkar_TK and for more AP coverage of the U.N. General Assembly, visit https://apnews.com/hub/united-nations-general-assembly
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/drowning-island-nations-this-is-how-a-pacific-atoll-dies/ | 2022-09-22T07:51:18 | en | 0.953051 |
Bank of Japan (BOJ) Chief Haruhiko Kuroda reiterated that they “will patiently continue powerful monetary easing” while addressing the post-monetary policy decision press conference.
Additional quotes
Continues to provide easy monetary environment for firms by shifting focus from covid emergency relief to wide-ranging needs.
Must be vigilant to financial, FX market moves and their impact on japan's economy, prices.
Won't hesitate to ease monetary policy further if necessary.
Closely watching financial, FX market moves.
Weak yen impact varies on different sectors.
Market players are paying attention to interest rate differentials.
Yen weakening is one-sided.
Rapid yen moves make it difficult for companies to set business plans, negative for Japan's economy.
There are speculative moves behind weakening yen.
Yen weakness is negative for non-manufacturing companies and mid-, smaller companies.
Boj will closely watch financial market moves, impact on economy, prices, with govt.
Closely coordinating with govt while paying attention to yen weakening's effects on economy and prices.
CPI will undershoot 2% from next fiscal year onwards.
CPI will undershoot 2% from next fiscal year onwards.
Q2 GDP growth is not yet at pre-pandemic levels.
Japan economy still on path towards recovery.
Recent sharp weak yen, existing raw material inflation have pushed up consumer prices.
Higher raw material prices can push down economy by worsening terms of trade.
Appropriate to maintain current powerful monetary easing to support economy.
Won't raise interest rates for time being.
Market reaction
The Japanese yen is finding fresh demand on the BOJ Chief’s comments, as USD/JPY eases off fresh 24-year highs at 145.41 to trade at 145.23, at the time of writing. The pair is still up 0.82% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Editors’ Picks
GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/bojs-kuroda-will-patiently-continue-powerful-monetary-easing-202209220640 | 2022-09-22T07:51:21 | en | 0.94378 |
As India doubles down on local manufacturing of technology products, Apple is likely to move 5 per cent of its new iPhone 14 production to India by the end of this year, and 25 per cent by 2025, according to a JP Morgan analysis.
Analysts have earlier predicted that Apple has shortened the production period of its new iPhones in India this year, barely six weeks or so from the production cycle in China.
Next year, Apple iPhone 15 may see its production at the Foxconn and Wistron manufacturing facilities in India at the same time with China.
"India`s iPhone supply chain has historically supplied only legacy models. Interestingly, Apple has requested that EMS vendors manufacture iPhone 14/14 Plus models in India in 4Q22, within two to three months of the start of production in Mainland China," according to the JP Morgan report.
"The much shorter interval implies the increasing importance of India production and likely higher iPhone allocations to India manufacturing in the future," the report noted.
"We believe Apple only produces iPhone 14/14 Plus models in India now due to the more complex camera module alignment of the iPhone Pro series (done by EMS vendors) and higher local market demand for the iPhone 14 series (tax savings)," it added.
According to the report, Vietnam will contribute 20 per cent of all iPad and Apple Watch productions, 5 per cent of MacBook and 65 per cent of AirPods by 2025.
Buoyed by the ease-of-doing business and friendly local manufacturing policies, Apple`s `Make in India` iPhones will potentially account for close to 85 per cent of its total iPhone production for the country this year.
The import of iPhones to India is likely to come down to 15 per cent this year (from 50 per cent in 2019), while domestic manufacturing by the Cupertino-based tech giant is set to go up substantially to 85 per cent, according to market intelligence firm CyberMedia Research (CMR).
With the iPhone 14 series, Apple`s iPhone production in India is slated to jump from 7 million iPhones in 2021 to touch a new milestone of around 12 million iPhones in 2022, marking a significant growth of more than 71 per cent (year-on-year), said CMR. | https://www.dnaindia.com/mobile/report-apple-may-soon-make-25-of-iphone-models-in-india-jp-morgan-2987144 | 2022-09-22T07:51:22 | en | 0.930062 |
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON (AP) — The Federal Reserve sent a sobering message Wednesday after it announced its latest big interest rate hike: It plans to keep raising rates as long as it takes to conquer the worst inflation bout in decades — even at the risk of causing a recession in the process.
Its aggressive pace of rate hikes will increasingly make borrowing and spending costly for consumers and businesses. Job cuts and rising unemployment could follow. And eventually, as the job market steadily weakens along with the economy, a recession could follow.
Given the strength of the job market — the unemployment rate is still an exceedingly low 3.7%, with plentiful job openings — most economists say a recession seems months away, at least. But most of them nevertheless think an economic downturn is inevitable.
Late last month, the government updated its estimate of the economy’s performance in the April-June quarter and confirmed its earlier estimate that the economy had shrunk for two straight quarters.
Six months of contraction is a long-held informal definition of a recession. Yet nothing is simple in a post-pandemic economy in which growth is negative but the job market strong. The economy’s direction has confounded the Fed’s policymakers and many private economists since growth screeched to a halt in March 2020 as COVID-19 struck and 20 million Americans were suddenly thrown out of work.
Even as the economy shrank over the first half of this year, employers added 2.7 million jobs — more than in most entire years before the pandemic struck. In August, the economy added 315,000 more. The unemployment rate, at 3.7%, is barely above a half-century low. Robust hiring and exceedingly low unemployment are hardly consistent with a recession.
Inflation, meantime, remains near its highest level in four decades, though gas costs and other prices have eased in recent weeks. Inflation is still so high that despite pay raises many workers have received, Americans’ purchasing power is eroding. The pain is being felt disproportionately by lower-income and Black and Hispanic households, many of whom are struggling to pay for higher-cost essentials like food, gas and rent.
Compounding those pressures, the Fed is jacking up rates at the fastest pace since the early 1980s, thereby magnifying borrowing costs for homes and cars and credit card purchases.
So how, exactly, do we know when an economy is in recession? Here are some answers to such questions:
____
WHO DECIDES WHEN A RECESSION HAS STARTED?
Recessions are officially declared by the obscure-sounding National Bureau of Economic Research, a group of economists whose Business Cycle Dating Committee defines a recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.”
The committee considers trends in hiring as a key measure in determining recessions. It also assesses many other data points, including gauges of income, employment, inflation-adjusted spending, retail sales and factory output. It puts heavy weight on jobs and a gauge of inflation-adjusted income that excludes government support payments like Social Security.
Yet the NBER typically doesn’t declare a recession until well after one has begun, sometimes for up to a year. Economists consider a half-point rise in the unemployment rate, averaged over several months, as the most historically reliable sign of a downturn.
___
DO TWO STRAIGHT QUARTERS OF ECONOMIC CONTRACTION EQUAL A RECESSION?
That’s a common rule of thumb, but it isn’t an official definition.
Still, in the past, it has been a useful measure. Michael Strain, an economist at the right-leaning American Enterprise Institute, has noted that in each of the past 10 times that the economy shrank for two consecutive quarters, a recession has resulted.
Still, many economists doubt that we’re in a recession now. For one thing, there’s the robust job market. For another, Americans are still spending, if more tepidly. Though purchases of goods like appliances and furniture have dropped, spending on services, like airline trips and dinners out, keeps rising, indicating that millions of consumers are venturing out more.
___
DON’T A LOT OF PEOPLE THINK A RECESSION IS COMING?
Yes, because many people now feel more financially burdened. With wage gains trailing inflation for most people, higher prices for such essentials as gas, food and rent have eroded Americans’ spending power.
Walmart has reported that higher gas and food costs have forced its shoppers to reduce their purchases of discretionary spending such as new clothing, a clear sign that consumer spending, the leading driver of the economy, is weakening. The nation’s largest retailer, Walmart has reduced its profit outlook and said it would have to discount more items like furniture and electronics.
And the Fed’s rate hikes have helped send the average 30-year fixed mortgage rate surging above 6%, compared with below 3% a year ago, thereby making homebuying increasingly unaffordable.
Higher rates will likely weigh on businesses’ willingness to invest in new buildings, machinery and other equipment. If companies reduce spending and investment, they’ll also start to slow hiring. Rising caution among companies about spending freely could lead eventually to layoffs. If the economy were to lose jobs and the public were to grow more fearful, consumers would further reduce spending.
___
WHAT ARE SOME SIGNS OF AN IMPENDING RECESSION?
The clearest signal that a recession is under way, economists say, would be a steady rise in job losses and a surge in unemployment. In the past, an increase in the unemployment rate of three-tenths of a percentage point, on average over the previous three months, has meant that a recession will soon follow.
Many economists monitor the number of people who seek unemployment benefits each week, which indicates whether layoffs are worsening. Weekly applications for jobless aid have sunk to a four-month low, which means that in the midst of a labor shortage, few employers are resorting to layoffs.
___
ANY OTHER SIGNALS TO WATCH FOR?
Many economists also monitor changes in the interest payments, or yields, on different bonds for a recession signal known as an “inverted yield curve.” This occurs when the yield on the 10-year Treasury falls below the yield on a short-term Treasury, such as the 3-month T-bill. That is unusual. Normally, longer-term bonds pay investors a richer yield in exchange for tying up their money for a longer period.
Inverted yield curves generally mean that investors foresee a recession that will compel the Fed to slash rates. Inverted curves often predate recessions. Still, it can take 18 to 24 months for a downturn to arrive after the yield curve inverts.
For many weeks, the yield on the two-year Treasury has exceeded the 10-year yield, suggesting that markets expect a recession soon. Many analysts say, though, that comparing the 3-month yield to the 10-year has a better recession-forecasting track record. Those rates are not inverted now.
___
WILL THE FED KEEP RAISING RATES EVEN AS THE ECONOMY SLOWS?
The economy’s flashing signals — slowing growth with strong hiring — have put the Fed in a tough spot. Chair Jerome Powell is aiming for a “soft landing,” in which the economy weakens enough to slow hiring and wage growth without causing a recession and brings inflation back to the Fed’s 2% target.
But Powell has acknowledged that such an outcome has grown more difficult to achieve. Yet on Wednesday, he made clear that the Fed will keep raising rates, even amid a weakening economy that could slide into a recession, if that’s what’s needed to tame inflation.
“No one knows whether this process will lead to a recession, or if so, how significant that recession would be,” Powell said at his news conference. “That’s going to depend on how quickly we bring down inflation.”
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/explainer-how-do-we-know-when-a-recession-has-begun-7/ | 2022-09-22T07:51:25 | en | 0.96166 |
EUR/GBP has broken key resistance at 0.8746/19. Economists at Credit Suisse expect the pair to enjoy further upside.
Immediate support seen at 0.8721
“We expect further upside to unfold in the medium-term, with next significant resistance seen at the neckline to the late 2020 top and the 61.8% retracement at 0.8861/76, a clear break above which would support strength to the 78.6% retracement and psychological resistance at 0.9000/58.”
“Immediate support is seen at the broken YTD high at 0.8721 and then further below at the recent low at 0.8624, with only a break below here raising concern of a false breakout.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/eur-gbp-further-upside-to-unfold-in-the-medium-term-credit-suisse-202209220636 | 2022-09-22T07:51:27 | en | 0.944227 |
Google Pixel 7, Pixel 7 Pro and Pixel Watch will launch on October 6 at a special ‘Made by Google’ event. Ahead of the launch, Google has revealed a few key details about the design and features of the upcoming smartphone. Now in a latest tweet, the tech giant has confirmed that Google Pixel 7 series will also be available in India. “nbd just our heart skipping a beat cuz the wait is almost over! Pixel 7 Pro and 7, coming soon to India. Stay tuned for more.” tweet from Google India reads.
The Pixel 7 and Pixel 7 Pro will be available on Flipkart, which has been the online retail partner for the tech giant for all Pixel launches in India. After the Pixel 3 series in 2018, Google stopped producing mainline Pixel phones in India, indicating that the Pixel 4, Pixel 5, and Pixel 6 were never introduced in the country.
However, the tech giant released a few A-series models, such as the Pixel 3a, Pixel 4a, and most recently, the Pixel 6a in the country.
A recent report said that the Pixel 7 will be equipped with a 6.3-inch display, which means it will be slightly smaller than the 6.4-inch screen available on the Pixel 6.
The Tensor G2 chipset will power the series, which is all set to launch on October 6. According to a tipster, the new chipset will utilise the same CPU as the original Tensor.
The alleged internal specification leak had been found from an alleged Pixel 7 Pro testing unit. The device, which ran a Geekbench test, revealed more details on the next Tensor chip made by Google.
(with inputs from IANS) | https://www.dnaindia.com/mobile/report-google-pixel-7-pixel-7-pro-confirmed-to-launch-in-india-2987141 | 2022-09-22T07:51:28 | en | 0.949001 |
SAN DIEGO (AP) — A Malaysian defense contractor nicknamed “Fat Leonard” who orchestrated one of the largest bribery scandals in U.S. military history has been arrested in Venezuela after fleeing before his sentencing, authorities said Wednesday.
The international manhunt for Leonard Glenn Francis ended with his arrest by Venezuelan authorities Tuesday morning at the Caracas airport as he was about to board an airplane for another country, the U.S. Marshals Service said.
The arrest came on the eve of his scheduled sentencing in a federal court in California for a bribery scheme that lasted more than a decade and involved dozens of U.S. Navy officers.
There was no immediate word on when he might be extradited to the United States.
Francis was under home arrest in San Diego when he cut off his GPS ankle bracelet and escaped on Sept. 4. Ten U.S. agencies searched for Francis and authorities issued a $40,000 reward for his arrest.
U.S. authorities also issued a red notice, which asks law enforcement worldwide to provisionally arrest someone with the possibility of extradition. Malaysia and Singapore both have extradition agreements with the United States.
Francis pleaded guilty in 2015 to offering prostitution services, luxury hotels, cigars, gourmet meals and more than $500,000 in bribes to Navy officials and others to help his Singapore-based ship servicing company, Glenn Defense Marine Asia Ltd. or GDMA. Prosecutors said the company overcharged the Navy by at least $35 million for servicing ships, many of which were routed to ports he controlled in the Pacific.
Francis had been allowed to remain in home confinement to receive medical care while he cooperated with the prosecution. With his help, prosecutors secured convictions of 33 of 34 defendants, including more than two dozen Navy officers.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/fugitive-in-massive-navy-bribery-case-caught-in-venezuela/ | 2022-09-22T07:51:32 | en | 0.977532 |
Norges Bank is set to raise its policy rate by 50 bps. Economists at Commerzbank expect the krone to benefit from the decision as further rate hikes are expected to combat inflation.
Wealth of energy sources and Norges Bank support NOK
“It is expected that Norges Bank will hike its interest rate by 50 bps to 2.25% today.”
“Norges Bank is not going to leave any doubt about its determination in fighting inflation today and will signal further rate hikes. That is likely to provide sufficient support to NOK, in particular as Norway’s gas and oil supplies ensure that NOK will principally benefit from the energy crisis in Europe.”
“We assume that EUR/NOK will ease below 10 again over the coming months.”
See – Norges Bank Preview: Forecasts from five major banks, set for another 50 bps
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
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EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/eur-nok-to-ease-below-10-again-over-the-coming-months-commerzbank-202209220706 | 2022-09-22T07:51:34 | en | 0.950182 |
Britain's late Queen Elizabeth II's name has been inscribed on a new ledger stone alongside her husband, Prince Philip, at St George's Chapel in Windsor Castle in south-east England, which will open to visitors as usual from next week.
The late monarch, who died aged 96 in Scotland on September 8, was buried at the George VI Memorial Chapel - an enclave within the chapel on her Berkshire estate near London - in a private ceremony following her state funeral on Monday.
Prince Philip, the Duke of Edinburgh's coffin was then moved from the Royal Vault to be placed in the same enclave, which also houses the coffins of the Queen's parents, father George VI and mother Elizabeth.
Buckingham Palace said the new stone replaces a black slab naming King George VI and Elizabeth, the Queen Mother, to include all their names.
The stone set into the floor now reads, "George VI 1895-1952" and "Elizabeth 1900-2002", followed by a metal star of the Order of the Garter and then "Elizabeth II 1926-2022" and "Philip 1921-2021".
Princess Margaret, the Queen's sister who died in 2002, was cremated as per her wishes and her ashes were also moved to the George VI memorial chapel with her parents' coffins after the death of the Queen Mother later the same year.
Members of the public will be able to visit the site from next week when Windsor Castle reopens for visitors, now as the official residence of "His Majesty the King Charles III".
"Windsor Castle will reopen to visitors on Thursday, 29 September. Following the death of Queen Elizabeth II we will not be reopening the Platinum Jubilee display," said the Royal Collection Trust, which runs the royal palaces.
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"Windsor Castle is the oldest and largest occupied castle in the world. It is open to visitors throughout the year. Founded by William the Conqueror in the 11th century, it has since been the home of 40 monarchs," it said.
Visitors will be able to see into the George VI Memorial Chapel, which is protected with iron gates. It had been commissioned by the late Queen as her intended final resting place and completed in 1969. | https://www.dnaindia.com/world/report-britain-s-queen-elizabeth-ii-s-ledger-stone-inscription-revealed-to-open-to-public-next-week-2987140 | 2022-09-22T07:51:34 | en | 0.97114 |
By AYA BATRAWY
Associated Press
UNITED NATIONS (AP) — Inside the grand hall of the United Nations, the world’s leaders are convening this week, each taking a turn to speak at the high-level leaders’ meeting at the U.N. General Assembly. It’s a practice rooted in diplomatic decorum and strict protocol.
But walk a few blocks — past the metal detectors and through the maze of police barricades — and another tradition unfolds: protests. Out here, fewer rules apply. And plenty of shouting is welcome.
With the world’s attention focused on the General Assembly and the leaders gathered there, disparate groups with far-ranging grievances congregate in the hopes of catching some of the limelight in Midtown.
Here’s what some of that looks like:
—People wearing placards and stopping pedestrians with questions like: “Do you want to live in a world where nuclear arsenals are growing?”
—Marchers holding signs for the rights of Indigenous people in the Amazon.
—A truck moving through traffic carrying a large sign calling for Iran’s president to be prosecuted.
—Supporters of the Falun Gong spiritual movement decrying the Chinese government’s treatment of the group.
These causes may not make it to the U.N. podium. But the protests and placards blaring their messages ensure they’re heard, too.
___
For more AP coverage of the U.N. General Assembly, visit https://apnews.com/hub/united-nations-general-assembly
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/glimpses-on-fringes-of-un-perimeter-placards-and-protests/ | 2022-09-22T07:51:38 | en | 0.900205 |
Norges Bank is set to hike its interest rate by 50 bps to 2.25%. EUR/NOK has rallied since the start of September and the central bank’s decision is unlikely to reverse the upmove, economists at ING report.
Norges Bank hike unlikely to turn the NOK around
“Norges Bank is widely expected to deliver another 50 bps rate hike today. With core inflation having continued to press higher, we expect NB to signal more tightening ahead, and we currently forecast another 50 bps rate hike in November. This may not have many implications for the krone’s short-term outlook, as external drivers should remain dominant.”
“We continue to see scope for a recovery in NOK around the turn of the year, but near-term downside risks remain significant, and a return to sub-10.00 EUR/NOK levels may not materialise for several more weeks.”
See – Norges Bank Preview: Forecasts from five major banks, set for another 50 bps
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/eur-nok-to-stay-above-10-for-several-more-weeks-despite-norges-bank-hike-ing-202209220717 | 2022-09-22T07:51:40 | en | 0.946431 |
The demise of 22-year-old Iranian woman, Mahsa Amini while in police custody for not wearing hijab 'properly' has sparked a huge wave of rage in Iran.
Amid these protests, Mahsa Amini’s father has stopped Mullahow from performing her last rites.
“Your Islam denounced her, now you’ve come to pray over her? Aren’t you ashamed of yourself? You killed her for two strands of hair! … Take your Islam and go,” said Mahsa Amini’s father in a viral video.
Mahsa Amini, 22, was detained on September 13 by the so-called "morality police" after officers apparently found fault with her headscarf, or hijab.
After a while, she suffered a heart attack and was immediately taken to hospital with the cooperation of the emergency services. "Unfortunately, she died and her body was transferred to the medical examiner`s office," state television said on Friday, reported Al Jazeera.
The announcement came a day after Tehran police confirmed Amini had been detained with other women for "instruction" about the rules.
Human rights activists who have spoken to the family said the police grabbed Amini and forced her inside a police vehicle, CNN reported quoting IranWire. Her brother, Kiarash, intervened however the police told him that they are taking his sister to the police station for one hour of "re-education."
Her brother waited outside the police station for her to be released however an ambulance pulled up and took his sister to the hospital.
"The woman was sent to a Greater Tehran police precinct for guidance and education when suddenly, in the presence of other people, she had a heart attack," the police said, reported CNN quoting state media.
Questioning the version of events given by police, Mahsa`s family said that she was normal with no pre-existing heart conditions.
Human rights organisation Amnesty International said, "The circumstances leading to the suspicious death in custody of 22-year-old young woman Mahsa Amini, which include allegations of torture and other ill-treatment in custody, must be criminally investigated."
"The so-called `morality police in Tehran arbitrarily arrested her three days before her death while enforcing the country`s abusive, degrading and discriminatory forced veiling laws. All agents and officials responsible must face justice," it added.
Following the incident that sparked fury on social media, Iranian President Ebrahim Raisi ordered the interior minister to open an inquiry into the case.
Several lawmakers said they would raise the case in parliament, while the judiciary said it would form a special task force to investigate, reported Al Jazeera. Amini`s death comes amid growing controversy both inside and outside Iran over the conduct of the morality police, known formally as the Gasht-e Ershad (Guidance Patrol).
The mandatory dress code, which applies to all nationalities and religions, not just Iranian Muslims, requires women to conceal their hair and neck with a headscarf, reported Al Jazeera. Over the decades, women have increasingly pushed back, particularly in the big cities, wearing their headscarves far back on their heads to reveal their hair.
(With inputs from ANI) | https://www.dnaindia.com/world/report-you-killed-her-for-two-strands-of-hair-mahsa-amini-father-refuses-to-perform-islamic-prayers-over-her-body-2987147 | 2022-09-22T07:51:40 | en | 0.976787 |
The FOMC delivered, as expected, a 75 bps increase in the Fed Funds target range to 3.00-3.25%. EUR/USD's move lower pre and post-Fed meeting is not an encouraging sign. Thus, economists at TD Securities expect the pair to suffer further losses.
EUR/USD year-end target set at 0.96
“We suspect geopolitically posturing ahead of this meeting helped to drive the pair lower. From where the Fed sits, there is still no reason to look topside the pair.”
“The ECB has been talking a big game recently, in what seems to be correlated with the further below-parity EUR/USD drifts. The reality is that they will not be able to compete with the Fed on rates, no matter how hawkish they sound.”
“EUR is a pro-cyclical currency, and the global growth impulse is worsening. The balance of payments remains a mess despite great strides made to improve energy security for the upcoming winter. That could change – for better or for worse.”
“We remain content with our 0.96 target by year-end for now.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/eur-usd-remains-vulnerable-to-further-losses-tds-202209220654 | 2022-09-22T07:51:46 | en | 0.948277 |
By JOHN HANNA
AP Political Writer
TOPEKA, Kan. (AP) — Kansas’ Democratic governor launched a new television ad on Wednesday in which she says men don’t belong in women’s sports. It’s a move seeking to blunt Republican attacks on her for vetoing two proposals to ban transgender athletes from girls’ and women’s school and college sports.
Gov. Laura Kelly doesn’t go into details on her position in the 30-second ad, which is her first to address what Republicans see as a key education issue that hurts Kelly during a close reelection race. Her campaign later said Kelly believes decisions about transgender athletes should be made by schools, doctors, families and local officials and that the two bills she vetoed would have “created unnecessary new government mandates.”
GOP challenger Derek Schmidt, the state’s three-term attorney general, tweeted that Kelly is lying about her record, and the Republican Governors Association released a digital ad Wednesday highlighting Kelly’s vetoes. Other Republicans said Kelly is trying to hide an unpopular, liberal stance.
But Democrats said the party’s voters would understand the ad as saying that the issue doesn’t involve men playing women’s sports because trans women are women.
“Men aren’t playing girls’ sports. This is the scare-tactic framing of the far right,” said Tom Witt, executive director of Equality Kansas, the state’s leading LGBTQ-rights group. “What we’re talking about in this situation is schoolkids in competitive games with their peers at school, and our position is, trans girls are girls; trans boys are boys.”
In the ad, Kelly looks into the camera and says: “Of course men should not play girls’ sports. OK, we all agree there,” before criticizing Schmidt on school funding issues.
Her campaign launched the ad after a Republican Governors Association ad featured a collegiate swimmer criticizing Kelly. That followed five other ads in which the RGA raised the issue, including one last week in which Schmidt says Kelly is aligned with groups pushing “the transgender agenda.”
The swimmer featured in the last RGA ad, University of Kentucky graduate Riley Gaines, said in a phone interview that she was surprised by Kelly’s ad because, “It’s not aligning with anything she’s said thus far.”
Tim Shallenburger, a former state treasurer and Kansas Republican Party chair, said Kelly had to deal with the issue because it’s important to many voters. He called Kelly’s latest ad “pretty sly,” adding that she’s “trying to catch Republicans.”
Joan Wagnon, a former Topeka mayor and Kansas Democratic Party chair, questioned whether Schmidt’s stance will play well with moderate Republicans. But Wagnon also said that, had she been the candidate, she’s not sure she would have made the ad.
“If you get sucked into those kind of tit-for-tat responses, it clouds your message,” she said.
Kelly is the only Democratic governor running for reelection this year, in a state that former President Donald Trump carried in 2020. That makes her a big target for the national GOP. But Democrats were buoyed in August, when Kansas voters decisively rejected a proposed amendment to the state constitution that would have allowed the Republican-controlled state Legislature to greatly restrict or ban abortion. Kelly opposed the measure, while Schmidt backed it.
However, Republicans see an opportunity to tap into suburban parents’ frustrations with coronavirus-related school restrictions and what’s taught about racism, gender and sexuality. They were encouraged by Republican Glenn Youngkin’s victory in the 2021 governor’s race in normally blue Virginia after making parents’ rights in education a key issue.
Youngkin and Schmidt were set to campaign together Thursday in the Kansas City area, after a Sunday rally with Florida Gov. Ron DeSantis, a Republican who has pushed conservative education initiatives.
And Republicans across the U.S. have framed restrictions on transgender athletes as keeping competition fair and preserving opportunities for girls and women, though there are relatively few transgender athletes.
Several polls this year show majorities of Americans oppose transgender athletes competing in women’s and girls’ sports, including an NPR/Ipsos poll in June that showed about two-thirds of U.S. adults are opposed to allowing transgender student athletes to compete on women’s and girls’ sports teams. A Washington Post/University of Maryland poll in May showed only about 3 in 10 said transgender women or girls should be allowed to compete.
State Sen. Renee Erickson, a Wichita Republican and the leading sponsor of the two measures, said of Kelly: “She’s having to pivot and backtrack on her two vetoes, and I don’t think Kansans are going to buy it, quite frankly.”
Including Florida and Texas, 18 GOP-led states have laws banning transgender athletes from participating in youth sports, according to the Movement Advancement Project, a Colorado think tank promoting LGBTQ rights. In the Kelly campaign’s statement Wednesday, spokesperson Lauren Fitzgerald noted that Republican governors in Indiana and Utah have vetoed such measures, although those vetoes were overridden by GOP-controlled Legislatures.
Critics say such bans are discriminatory, and that merely discussing them leads to bullying.
Kelly’s veto messages for bills in 2021 and 2022 also said they would hurt the state’s business climate. In her second message, she added that such proposals did not come from athletes or schools but from “politicians trying to score political points.”
___
Associated Press polling writer Hannah Fingerhut contributed to this report from Washington.
___
Follow John Hanna on Twitter: twitter.com/apjdhanna
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/gop-hits-kansas-governor-hard-on-trans-athletes-her-new-ad-2/ | 2022-09-22T07:51:44 | en | 0.966621 |
EUR/USD continues to grind to new lows of the year. Economists at ING expect the world’s most popular currency pair to extend its decline towards the 0.9650 zone.
Eurozone faces some major challenges this winter
“Yield differentials have not been playing a big role in EUR/USD pricing. It is more about the overall environment. Here, the Fed is leading the world's major central banks into more hawkish policy settings and making recessions more likely.”
“As a relatively open economy with a large manufacturing base – and a war on its doorstep – the eurozone faces some major challenges this winter.”
“We suspect EUR/USD continues to grind lower to the 0.9650 area over coming weeks.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/eur-usd-to-grind-lower-to-the-09650-area-over-coming-weeks-ing-202209220720 | 2022-09-22T07:51:53 | en | 0.944469 |
By HILLEL ITALIE
AP National Writer
NEW YORK (AP) — Joan Didion’s precision with words extended even to ones she would never live to hear, such as those used during a small, private service this spring at the Cathedral of St. John the Divine.
“She left very clear directions about what she wanted to happen at that service,” the Very Rev. Patrick Malloy said Wednesday night, at the start of a memorial tribute at the Cathedral. “She wanted it to be very brief and she specified the texts she wanted us to use, all from the Episcopal Book of Common Prayer, which is what you’d expect from an Episcopalian who wrote a book called ‘A Book of Common Prayer.’”
The texts she chose were “remarkably dour,” Malloy went on to explain, and they were not from the contemporary edition of the Book of Common Prayer, but from an older, more ornate printing. It was Didion’s way of reminding everyone that the sounds of the words, and their rhythm, meant as much as the words themselves.
Didion, a master of rhythm and of the meaning of the unsaid, was remembered Wednesday as an inspiring and fearless writer and valued, exacting and sometimes eccentric friend, the kind who didn’t like to speak on the phone unless asked to or who might serve chocolate soufflés at a child’s birthday party because she didn’t know how to bake a cake.
Hundreds were presented with programs and laminated hand fans as they entered the Cathedral on a summer-ish late afternoon — the first day of autumn — where the scale of the building was too vast for the expense of air conditioning. Carl Bernstein, Donna Tartt and Fran Lebowitz were among those attending, along with relatives, friends and editors and other colleagues from The New Yorker and her last publishing house, Penguin Random House.
Didion, who died last December at age 87, left behind no immediate family members: Her husband, fellow author and screenwriting partner John Gregory Dunne died in 2003, followed less than two years later by their only child, Quintana Roo. But the speakers did span much of her life, from Sacramento and Malibu in California to the Upper Side East of Manhattan, from her years as a child already preoccupied with language to her prime as an uncommonly astute observer of contemporary society to her time as an elder sage and prototype for younger authors.
Retired Supreme Court Justice Anthony M. Kennedy, here in his capacity as a generational peer and a fellow Sacramento native, remembered Didion as a close friend of his older sister Nancy’s and a frequent dinner guest. She was a gifted and “pensive” girl, cerebral beyond her years, who would “think and write and think and write, all over again.” Former California Governor Jerry Brown, speaking via a taped video feed, also shared Sacramento memories and of Didion as a college friend of his sister’s.
“She and Joan would share a smoke together and talk about the novels they were reading,” he said. “Years later, my sister’s most vivid memory was of Joan coming down for breakfast in a pink chenille robe, drinking a cup of coffee and smoking cigarettes.”
Calvin Trillin read from Didion’s biting coverage of the 1988 political conventions, when she famously observed that in high school she preferred being around people who hung out at gas stations — a setting not otherwise invoked during a ceremony more populated by stories of parties, literary craft and the Rolling Stones.
Vanessa Redgrave, her white hair tied in back and otherwise covered by a dark fedora, read from Didion’s celebrated memoir about grief, “The Year of Magical Thinking,” which Redgrave years ago had performed on stage as Didion sat in the wings for every show.
Didion’s longtime friend and fellow author Susanna Moore distilled decades of conversation into a few of Didion’s aphorisms: “Evil is the absence of seriousness.” “Crazy is never interesting.” “I would drop this whole idea of knowing the truth.” Actor Susan Traylor, a childhood friend of Roo’s, spoke of feeling homesick while spending Christmas in Hawaii with the Didions.
“Without raising the issue she (Joan Didion) reached out and stroked my head,” Traylor recalled. “’What you should know is that your mother told me that the reason she let you miss Christmas at home is she thought it would be good for you to know you could do it without her.’ And I was fine.”
The show began with reflections on the Book of Common Prayer, and ended in secular scripture, Patti Smith performing Bob Dylan’s “Chimes of Freedom.” Backed by Tony Shanahan on acoustic guitar, Smith sang at a piercing, steady clip, as if mimicking the cadence of Didion’s prose.
_____
Tolling for the aching ones whose wounds cannot be nursed
For the countless confused, accused, misused, strung-out ones and worse
And for every hung-up person in the whole wide universe
And we gazed upon the chimes of freedom flashin’
____
Smith repeated the last line, but changed “we” to “she.” She ended with a single, spoken word: “Joan.”
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/hundreds-gather-for-joan-didion-tribute-wednesday-night/ | 2022-09-22T07:51:53 | en | 0.973929 |
The Federal Reserve raised rates by triple-sized 75 bps as expected. There are further rate increases to come, economists at Commerzbank report.
Inflation is a priority
“The Fed took its third big rate step in a row, raising rates by 75 bp to 3.00%-3.25%.”
“The central bank held out the prospect of further significant rate hikes and is apparently prepared to accept a recession if this is necessary to combat the high inflation.”
“Powell made it very clear again that the Fed is giving priority to fighting inflation. As a result, key rates are likely to rise much higher than most observers and the Fed itself had originally expected. These steps will probably take place quite quickly.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
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By RONALD BLUM
AP Baseball Writer
NEW YORK (AP) — A sellout crowd of 46,175 groaned as Aaron Judge left the batter’s box in the first and fifth innings.
“Fans packed it out to see us win a ballgame and see some homers,” he said with a widening smile and a twinkle in his eyes, “so I think I got to cut out this double stuff, I guess.”
Judge remained at 60 home runs, one shy of Roger Maris’ American League record, hitting two doubles with a walk in Wednesday night’s 14-2 blowout of the Pittsburgh Pirates.
A day after hitting home run No. 60 to spark a stunning five-run, ninth-inning rally capped by Giancarlo Stanton’s game-ending slam, Judge lined a double to left on the first pitch to him from Roasny Contreras (5-5) and scored on Oswaldo Cabrera’s grand slam.
Cabrera and Gleyber Torres had five RBIs each. Torres homered twice in the eighth inning, one to right and one to left, raising his season total to 23.
With 14 games left, Judge leads the AL in average (.317), home runs and RBIs (128) and is positioned to become the first Triple Crown winner in a decade.
Maris’ sons and Judge’s family were in the stands. Applause started whenever Judge walked onto the on-deck circle, and fans stood and snapped photos in anticipation during each trip to the plate.
Judge faced just 11 pitches, putting the first pitch in play three times.
“It felt like waiting for that big moment,” Yankees manager Aaron Boone said.
Judge hit a one-hop double over the wall in the left-field corner in the fifth and scored on Torres’ single. He also struck out and grounded out, then got one more time at-bat as the eighth batter in eight-run eighth. A four-pitch walk by rookie Eric Stout — all chanegups — promoted boos.
“I’m not going to give in 2-0, 3-0 and throw him something, regardless who it is honestly, especially with a lefty on deck,” Stout said.
New York (90-58) closed in on its sixth straight postseason berth and 24th in 28 years. The Yankees opened a 6 1/2 game-lead over second-place Toronto in the AL East and with one more win would clinch no worse than a wild card.
Cabrera made the Yankees the first team in major league history to end a game with a slam and hit another in the first inning of its next game, according to STATS. The only previous teams to hit slams in the last inning of a game and the first of the next were the 1955 Boston Red Sox and the 2017 Los Angeles Dodgers.
Cabrera has three homers and 14 RBIs in 30 games since his debut on Aug. 17. With the bases loaded on Judge’s double and a pair of walks by Contreras, Cabrera drove a hanging slider into the right-field bleachers.
New York has four slams in four games against the Pirates this season, including in consecutive innings on July 6. The Yankees’ 10 slams this season are their most since 2012.
“The vibe,” Cabrera said, “so good.”
IN OTHER YANKES NEWS
Harrison Bader had a two-run double in the big eighth and has five RBIs in his first two games with the Yankees. … Luis Severino (6-3) returned from a strained right lat muscle that had sidelined him since July 13 and allowed one run and two hits in five innings with six strikeouts. He reached 98.9 mph.
PIRATES
Contreras struck out a career-high 10, allowing six runs and six hits in 4 2/3 innings. … Ke’Bryan Hayes had a sacrifice fly and RBI single for Pittsburgh (55-94).
TWO-FERS
Torres joined Joe DiMaggio, Joe Pepitone, Cliff Johnson and Alex Rodriguez (twice) as Yankees to hit two homers in an inning.
EYEBALLS
New York’s win Tuesday averaged 539,000 on the Yankees’ YES Network, its most prime-time viewers for a game other than against the Mets since 557,000 for an 11-inning game against Atlanta on Aug. 2, 2018. YES is averaing 352,000, up 23% from last year and its highest since 2011.
CRUZ CONTROL
Pittburgh’s ONeil Cruz was given a Paul O’Neill No. 21 jersey and spoke with O’Neill — whom he is named after — by video chat. O’Neill is not vaccinated against COVID-19 and broadcasts Yankees’ games from home in Ohio.
TRAINER’S ROOM
Yankees: RHP Scott Effross (shoulder strain) will be activated Thursday. … LHP Zack Britton finished his minor league rehab assignment following Tommy John surgery and hopes to be actived in a few days. … INF-OF Matt Carpenter (broken left foot) had an X-ray Tuesday and was cleared for more weight-bearing work. He’ll have another X-ray in nine or 10 days. … New York is trying to pick the right time to activate INF DJ LeMahieu (right second toe), who likely will not be 100%. … OF Aaron Hicks was feeling ill and left the ballpark before the game.
UP NEXT
Pirates: RHP Mitch Keller (5-11, 4.03) opens a four-game series at home on Thursday against the Chicago Cubs’ RHP Hayden Wesneski (1-1, 2.30).
Yankees: RHP Jameson Taillon (13-5, 4.04) starts Thursday’s opener of a four-game series against Boston and RHP Michael Wacha (11-1, 2.61), who is 8-0 in his last 12 starts.
___
More AP MLB: https://apnews.com/hub/mlb and https://twitter.com/AP_Sports
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/sports/2022/09/21/judge-stuck-at-60-hrs-as-yankees-rout-pirates-14-2-2/ | 2022-09-22T07:51:59 | en | 0.960338 |
Federal Reserve hiked rates by 75 bps. Economists at Danske Bank revise their Fed call and now expect two more 75 bps hikes in the November and December meetings. They also still forecast EUR/USD to fall to 0.95 in 12 months.
Fast hikes to continue
“We think Fed will prefer more aggressive path and hike 75 bps in both November and December meetings. We also continue to see risks tilted towards Fed maintaining financial conditions at restrictive levels for longer. Consequently, as Powell also acknowledged, the chances of a ‘soft landing’ have declined.”
“Our forecast would bring the Fed Funds target rate to 4.25-4.50% by the end of the year. In terms of broader market views, we stick to our forecast for EUR/USD to fall to 0.95 in 12M.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/fed-funds-target-rate-set-at-425-450-by-year-end-eur-usd-to-fall-to-095-in-12m-danske-bank-202209220645 | 2022-09-22T07:52:05 | en | 0.952716 |
By RONALD BLUM
AP Baseball Writer
NEW YORK (AP) — Aaron Judge disappointed fans by staying stuck at 60 homers but doubled twice and scored on Oswaldo Cabrera’s first-inning grand slam that started the New York Yankees to a 14-2 rout of the Pittsburgh Pirates on Wednesday night.
A day after hitting home run No. 60 to spark a stunning five-run, ninth-inning rally capped by Giancarlo Stanton’s game-ending slam, Judge doubled on the first pitch to him in the first and fifth innings. Given another time up during an eight-run eighth inning, Judge walked on four pitches from rookie Eric Stout as the sellout crowd of 46,175 booed loudly.
Judge went 2 for 4 and with 14 games left and remained one home run shy of tying the American League record set by the Yankees’ Roger Maris in 1961. Judge leads the AL in average (.317), home runs and RBIs (128), in position to become the first Triple Crown winner in a decade.
Cabrera and Gleyber Torres had five RBIs each. Torres homered twice in the eighth inning, raising his season total to 23.
Applause started whenever Judge walked onto the on-deck circle, and fans stood and snapped photos. Maris’ sons and Judge’s family were in the stands.
He started the first against rookie Roasny Contreras (5-5) with a liner to left and began the fifth with a one-hopper over the left-field wall.
New York (90-58) closed in on its sixth straight postseason berth and 24th in 28 years. The Yankees began the night 5 1/2 games ahead of second-place Toronto in the AL East.
Cabrera made the Yankees the first team in major league history to end a game with a slam and hit another in the first inning of its next game, according to STATS. The only previous teams to hit slams in the last inning of a game and the first of the next were the 1955 Boston Red Sox and the 2017 Los Angeles Dodgers.
Cabrera has three homers and 14 RBIs in 30 games since his debut on Aug. 17. With the bases loaded on Judge’s double and a pair of walks by Contreras, Cabrera drove a hanging slider into the right-field bleachers.
New York has four slams in four games against the Pirates this season, including in consecutive innings on July 6. The Yankees’ 10 slams this season are their most since 2012.
Harrison Bader had a two-run double in the big eighth and has five RBIs in his first two games with the Yankees.
Luis Severino (6-3) returned from a strained right lat muscle that had sidelined him since July 13 and allowed one run and two hits in five innings with six strikeouts. He reached 98.9 mph.
Contreras struck out a career-high 10, allowing six runs and six hits in 4 2/3 innings.
Ke’Bryan Hayes had a sacrifice fly and RBI single for Pittsburgh (55-94).
SLAMMIN’
Triple-A Scranton/Wilkes-Barre won 4-3 at Lehigh Valley on Tuesday night as Ronald Guzmán hit a seventh-inning slam.
TWO-FERS
Torres joined Joe DiMaggio, Joe Pepitone, Cliff Johnson and Alex Rodriguez (twice) as Yankees to hit two homers in an inning.
EYEBALLS
New York’s win Tuesday averaged 539,000 on the Yankees’ YES Network, its most prime-time viewers for a game other than against the Mets since 557,000 for an 11-inning game against Atlanta on Aug. 2, 2018. YES is averaing 352,000, up 23% from last year and its highest since 2011.
CRUZ CONTROL
Pittburgh’s ONeil Cruz was given a Paul O’Neill No. 21 jersey and spoke with O’Neill — whom he is named after — by video chat. O’Neill is not vaccinated against COVID-19 and broadcasts Yankees’ games from home in Ohio.
TRAINER’S ROOM
Yankees: RHP Scott Effross (shoulder strain) will be activated Thursday. … LHP Zack Britton finished his minor league rehab assignment following Tommy John surgery and hopes to be actived in a few days. … INF-OF Matt Carpenter (broken left foot) had an X-ray Tuesday and was cleared for more weight-bearing work. He’ll have another X-ray in nine or 10 days. … New York is trying to pick the right time to activate INF DJ LeMahieu (right second toe), who likely will not be 100%. … OF Aaron Hicks was feeling ill and left the ballpark before the game.
UP NEXT
Pirates: RHP Mitch Keller (5-11, 4.03) opens a four-game series at home on Thursday against the Chicago Cubs’ RHP Hayden Wesneski (1-1, 2.30).
Yankees: RHP Jameson Taillon (13-5, 4.04) starts Thursday’s opener of a four-game series against Boston and RHP Michael Wacha (11-1, 2.61), who is 8-0 in his last 12 starts.
___
More AP MLB: https://apnews.com/hub/mlb and https://twitter.com/AP_Sports
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/sports/2022/09/21/judge-stuck-at-60-hrs-as-yankees-rout-pirates-14-2/ | 2022-09-22T07:52:10 | en | 0.95941 |
The Federal Open Market Committee (FOMC) raised the policy rate corridor by 75 basis points. In the view of economists at Commerzbank, it is getting harder and harder to add more strength, at least, from the Fed’s factor.
Past hawkish tones are hard to top
“Yesterday's news from the Fed justifies the current USD strength, but hardly provides any new arguments. I still consider this to be moderately USD-positive.”
“Powell had to answer some questions about a hypothetical future pause in the interest rate cycle. Getting that done without supporting those who want to interpret his words dovishly was not easy.”
“Lesson learned: past hawkish tones are hard to top. It's getting less and less likely that the Fed can push the dollar massively stronger. Those who are betting on USD strength must hope for other factors. On Mr. Putin, for example. But you certainly don't want that either — at least if you're living in Europe.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/fed-to-struggle-to-push-the-us-dollar-massively-stronger-commerzbank-202209220632 | 2022-09-22T07:52:12 | en | 0.949194 |
Here is what you need to know on Thursday, September 22:
The US Dollar Index surged to its highest level since July 2002 above 111.70 following the US Federal Reserve's decision to hike its policy rate by 75 basis points (bps) late Wednesday. The dollar preserves its strength early Tuesday as market participants get ready for the Swiss National Bank (SNB) and the Bank of England's (BoE) policy announcements. Later in the day, the European Commission will release the September Consumer Confidence data and the US economic docket will feature the weekly Initial Jobless Claims.
Although the Fed's 75 bps hike was in line with the market expectation, the Summary of Economic Projections showed a hawkish tilt in the policy outlook. The dot plot revealed that officials' median view of the fed fund rate at the end of 2023 rose to 4.6% from 3.8% in June's dot plot. Furthermore, policymakers see the policy rate at 3.9% by the end of 2024, compared to 3.4% previously. During the press conference, FOMC Chairman Jerome Powell acknowledged that there was no "painless way" to bring inflation down but noted that it was difficult to know whether the US economy would tip into recession.
Fed Quick Analysis: Powell projects pain, higher rates for longer set to keep the dollar bid.
Wall Street's three main indexes lost more than 1.5% on Wednesday and the benchmark 10-year US Treasury bond yield managed to hold above 3.5%. Early Thursday, US stock index futures are down between 0.25% and 0.65%.
Earlier in the day, the Bank of Japan (BoJ) announced that it left its policy settings unchanged, leaving the interest rate steady at -0.1% and maintaining the 10-year JGB yield target at 0.00%. USD/JPY gathered bullish momentum and climbed to its highest level since July 1998 at 145.40 before correcting toward 145.00.
Breaking: USD/JPY jumps as BOJ keeps policy settings steady.
Despite the broad-based dollar strength, USD/CHF stays relatively quiet at around 0.9650. The SNB is expected to raise its policy rate by 75 bps to 0.5% from -0.25%.
SNB Preview: Firing up the franc? Currency war, 3 other reasons, imply massive 100 bps hike.
GBP/USD trades at its weakest level since 1985 below 1.1250 early Thursday. Analysts see the BoE raising its policy rate by 50 bps to 2.25% but the positioning of futures markets suggests that there is a strong chance of a 75 bps hike. Since there won't be a press conference, the vote split could impact the British pound's valuation against its major rivals.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike.
EUR/USD dropped to a fresh two-decade low early Thursday and came within a touching distance of 0.9800. European Central Bank (ECB) executive board member Isabel Schnabel reiterated on Thursday that they must continue to raise interest rates, providing support to the shared currency for the time being.
Although gold managed to close in positive territory on Wednesday, it failed to preserve its bullish momentum and turned south early Thursday. Pressured by rising US yields, XAU/USD was last seen trading at around $1,660.
Bitcoin fell toward $18,000 late Wednesday but recovered to the $19,000 area early Thursday. Ethereum lost nearly 6% and touched its lowest level since mid-July near $1,200 on Wednesday. At the time of press, ETH/USD was up 2% on the day at $1,270.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/forex-today-dollar-shows-no-signs-of-slowing-down-as-focus-shifts-to-snb-and-boe-202209220627 | 2022-09-22T07:52:19 | en | 0.953863 |
By HYUNG-JIN KIM
Associated Press
SEOUL, South Korea (AP) — The leaders of South Korea and Japan agreed to accelerate efforts to mend ties frayed over Japan’s past colonial rule of the Korean Peninsula as they held their countries’ first summit talks in nearly three years on the sidelines of the U.N. General Assembly, both governments announced Thursday.
The meeting occurred after Tokyo denied Seoul’s earlier announcement they had agreed on the summit, in a sign of the delicate nature of their current relations.
During their 30-minute meeting in New York on Wednesday, South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida shared the need to improve bilateral ties and agreed to instruct their respective diplomats to step up talks for that, Yoon’s office said in a statement.
Kishida’s office confirmed the hotel meeting. A separate Japanese Foreign Ministry statement said the two leaders agreed to promote cooperation between the two countries as well as with the United States. It said the leaders shared the need to restore sound relations.
Yoon’s office said the two leaders also jointly expressed serious concerns about North Korea’s recent legislation authorizing the preemptive use of nuclear weapons in certain conditions and the North’s reported moves to conduct its first nuclear test in five years. The Japanese Foreign Ministry said Kishida and Yoon agreed to further cooperate in their response to North Korea.
Both South Korean and Japanese governments said Yoon and Kishida agreed to continue communications between them. But it wasn’t immediately known how meaningful conversation the two leaders could have to address major sticking points in bilateral ties that suffered their biggest setback in recent years when the two countries were governed by Yoon and Kishida’s predecessors.
In 2018, South Korea’s top court ruled that two Japanese companies — Nippon Steel and Mitsubishi Heavy Industries — must compensate Koreans who had been forced to work during Japan’s 1910-45 colonial occupation. The companies and the Japanese government have dismissed the rulings, arguing that all compensation issues were already settled under a 1965 treaty that normalized bilateral ties and included Tokyo’s provision of millions of dollars to Seoul in economic assistance and loans.
The dispute prompted the two governments to downgrade each other’s trade status and Seoul to threaten to abandon an intelligence-sharing deal. The former Korean forced laborers and their supporters, for their part, pushed for the forced sales of the Japanese companies’ assets in South Korea.
It’s unclear if Wednesday’s summit would yield progress on the matter since participants in the court cases maintain the Japanese companies must first consent to the South Korean court rulings if they want to resolve the legal disputes.
The strained ties have complicated a U.S. push to bolster its trilateral security alliance with Seoul and Tokyo — two of its key regional allies where it deploys a total of 80,000 troops — to better deal with a rising Chinese influence and North Korean nuclear threats.
South Korea and Japan have been seeking better ties since the May inauguration of Yoon, who publicly calls for improve ties with Tokyo and a strengthened Seoul-Tokyo-Washington security cooperation in the face of a growing North Korean nuclear arsenal.
But when the Yoon’s government last week announced what it called a planned summit between Yoon and Kishida in New York, Tokyo officials responded there had been no agreement to hold that summit.
The Yoon-Kishida meeting was the first summit between the countries since December 2019, when then-South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe met in China on the sidelines of a South Korea-Japan-China summit.
__
Associated Press writer Mari Yamaguchi in Tokyo contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/leaders-of-s-korea-japan-agree-to-strive-to-improve-ties-2/ | 2022-09-22T07:52:19 | en | 0.959969 |
FX option expiries for Sept 22 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
- EUR/USD: EUR amounts
- 0.9800 1.76b
- 0.9900 2.09b
- 0.9950-55 1.08b
- 0.9990-00 5.55b
- 1.0020-30 1.08b
- 1.0050 1.17b
- 1.0100 893m
- GBP/USD: GBP amounts
- 1.1400 200m
- 1.1490 502m
- USD/JPY: USD amounts
- 143.35-45 836m
- 144.50 300m
- USD/CHF: USD amounts
- 0.9600 300m
- 0.9650 463m
- AUD/USD: AUD amounts
- 0.6500 357m
- 0.6600-10 375m
- USD/CAD: USD amounts
- 1.3420 890m
- 1.3450 1.0b
- EUR/CHF: EUR amounts
- 0.9525 311m
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/fx-option-expiries-for-sept-22-ny-cut-202209220623 | 2022-09-22T07:52:25 | en | 0.924041 |
By HYUNG-JIN KIM
Associated Press
SEOUL, South Korea (AP) — The leaders of South Korea and Japan agreed to accelerate efforts to mend ties frayed over Japan’s past colonial rule of the Korean Peninsula as they held their countries’ first summit talks in nearly three years on the sidelines of the U.N. General Assembly, both governments announced Thursday.
The meeting occurred after Tokyo denied Seoul’s earlier announcement they had agreed on the summit, in a sign of the delicate nature of their current relations.
During their 30-minute meeting in New York on Wednesday, South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida shared the need to improve bilateral ties and agreed to instruct their respective diplomats to step up talks for that, Yoon’s office said in a statement.
Kishida’s office confirmed the hotel meeting. A separate Japanese Foreign Ministry statement said the two leaders agreed to promote cooperation between the two countries as well as with the United States. It said the leaders shared the need to restore sound relations.
Yoon’s office said the two leaders also jointly expressed serious concerns about North Korea’s recent legislation authorizing the preemptive use of nuclear weapons in certain conditions and the North’s reported moves to conduct its first nuclear test in five years. The Japanese Foreign Ministry said Kishida and Yoon agreed to further cooperate in their response to North Korea.
Both South Korean and Japanese governments said Yoon and Kishida agreed to continue communications between them. But it wasn’t immediately known how meaningful conversation the two leaders could have to address major sticking points in bilateral ties that suffered their biggest setback in recent years when the two countries were governed by Yoon and Kishida’s predecessors.
In 2018, South Korea’s top court ruled that two Japanese companies — Nippon Steel and Mitsubishi Heavy Industries — must compensate Koreans who had been forced to work during Japan’s 1910-45 colonial occupation. The companies and the Japanese government have dismissed the rulings, arguing that all compensation issues were already settled under a 1965 treaty that normalized bilateral ties and included Tokyo’s provision of millions of dollars to Seoul in economic assistance and loans.
The dispute prompted the two governments to downgrade each other’s trade status and Seoul to threaten to abandon an intelligence-sharing deal. The former Korean forced laborers and their supporters, for their part, pushed for the forced sales of the Japanese companies’ assets in South Korea.
It’s unclear if Wednesday’s summit would yield progress on the matter since participants in the court cases maintain the Japanese companies must first consent to the South Korean court rulings if they want to resolve the legal disputes.
The strained ties have complicated a U.S. push to bolster its trilateral security alliance with Seoul and Tokyo — two of its key regional allies where it deploys a total of 80,000 troops — to better deal with a rising Chinese influence and North Korean nuclear threats.
South Korea and Japan have been seeking better ties since the May inauguration of Yoon, who publicly calls for improve ties with Tokyo and a strengthened Seoul-Tokyo-Washington security cooperation in the face of a growing North Korean nuclear arsenal.
But when the Yoon’s government last week announced what it called a planned summit between Yoon and Kishida in New York, Tokyo officials responded there had been no agreement to hold that summit.
The Yoon-Kishida meeting was the first summit between the countries since December 2019, when then-South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe met in China on the sidelines of a South Korea-Japan-China summit.
__
Associated Press writer Mari Yamaguchi in Tokyo contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/leaders-of-s-korea-japan-agree-to-strive-to-improve-ties/ | 2022-09-22T07:52:27 | en | 0.959969 |
- GBP/JPY picks up bids to reverse post-BOJ losses.
- 200-SMA, one-week-old resistance line challenges buyers amid sluggish oscillators.
- Bears have multiple hurdles before aiming at the 160.00 threshold.
GBP/JPY rises half a percent as it reverses the Bank of Japan (BOJ) led moves near 163.10 during early Thursday morning in Europe. In doing so, the cross-currency pair bounces off the two-week low while poking the 200-SMA.
In addition to the 200-SMA level of 163.10, the downward sloping resistance line from September 13, around 163.60, also challenges the pair buyers.
It’s worth noting that the sluggish MACD signals and the RSI (14) also challenge the GBP/JPY buyers.
In a case where the quote rises past 163.60, the odds favoring its run-up towards the latest swing high near 164.40 and the monthly peak of 167.22 can’t be ruled out.
Alternatively, pullback moves need a clear downside break of the seven-week-old support line, close to 162.00 by the press time.
Following that, multiple levels around 161.40 and 160.70-80 could test the GBP/JPY bears before directing them to the 160.00 psychological magnet. Also acting as a downside filter is the previous monthly low near 159.45.
To sum up, GBP/JPY is likely to pare recent losses but the recovery needs a successful break of 163.60 resistance.
GBP/JPY: Four-hour chart
Trend: Further recovery expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Editors’ Picks
GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/gbp-jpy-price-analysis-recovery-needs-validation-from-16360-202209220630 | 2022-09-22T07:52:32 | en | 0.941243 |
UNITED NATIONS (AP) — The Latest on the U.N. General Assembly:
European Union foreign policy chief Josep Borrell is promising new sanctions against Russia after an escalation of its war in Ukraine.
Following an emergency meeting of EU foreign ministers Wednesday night, Borrell said he is certain there would be “unanimous agreement” for additional sanctions targeting sectors of Russia’s economy and individual Russians.
He gave no timeline for the sanctions beyond saying they would come “as soon as possible.”
Borrell said Russia’s announcement of a partial military mobilization, combined with President Vladimir Putin’s veiled nuclear threats and plans for referendums in occupied areas of Ukraine, showed it was losing the war.
“It’s clear that Putin is trying to destroy Ukraine. He’s trying to destroy the country by different means since he’s failing militarily,” he said. Borrell spoke on the sidelines of the U.N. General Assembly meeting in New York.
Earlier Wednesday, Borrell called Putin’s threat to use nuclear weapons a danger to the world and an attempt to intimidate Ukraine and its supporters.
He said the EU would not directly engage in the nearly 7-month-old war, but will continue “more of the same” — military support and economic and individual sanctions.
___
President Joe Biden encouraged the world to step up the fight against HIV, tuberculosis and malaria Wednesday as he highlighted a $6 billion U.S. commitment to the Global Fund.
Hosting the public health partnership’s Seventh Replenishment Conference, Biden joined leaders from Japan, German, France, Canada and the EU to announce new commitments to tackle the diseases.
“Now is the moment to accelerate our efforts to reduce health inequities, and to address barriers to access including gender and human rights barriers to build a more inclusive healthcare systems, to leave no one behind, to end AIDS, tuberculosis and malaria for good,” Biden said.
The Global Fund is aiming to raise $18 billion in the latest fundraising round.
Since The Global Fund was created in 2002, it has saved 50 million lives and reduced the combined death rate from HIV, tuberculosis and malaria by more than half in the countries where the fund invests.
___
Ivorian President Alassane Ouattara says African countries must get top priority for the wheat being exported from Ukraine after officials said only 17% of it has been reserved for the continent over the past two months.
Of that, 10% went to Egypt alone, and smaller amounts have gone to Sudan, Kenya, Somalia and Djibouti, according to the Joint Coordination Center, run by the U.N., Turkey, Russia and Ukraine.
Ouattara told the U.N. General Assembly on Wednesday that his West African nation “once again requests that priority be given to Africa in the application of the Istanbul Agreement,” which was signed in late July.
African nations were at the center of Western efforts to reopen Ukraine’s ports as the United States and allies accused Russia of starving the world by denying exports from Ukraine, one of the world’s largest grain exporters. African leaders also visited Russia to meet with Russian President Vladimir Putin over the issue.
But now, Russia is trying to turn the food security issue question against the West, with Putin accusing the West of sending most of the grain from Ukraine’s reopened ports to Europe instead of poorer and hungrier parts of the world.
___
European Union foreign policy chief Josep Borrell says he is calling an emergency meeting of EU foreign ministers and will start proposing new sanctions to respond to Russia’s latest “unacceptable” threat to use nuclear weapons in Ukraine and upcoming referendums for Russian-controlled areas of Ukraine to become part of Russia.
He told a news conference on the sidelines of the U.N. General Assembly that he expected the meeting Wednesday night to also discuss how to continue providing military support to Ukraine and putting pressure on Russia.
Borrell said Russian President Vladimir Putin’s threat to use nuclear weapons in Ukraine is a danger to the world and an attempt to intimidate Ukraine and its supporters. But, he said, “he has failed, he will fail again.”
He stressed that the EU is not going to engage directly in the seven-month-old war, which followed Russia’s invasion of Ukraine on Feb. 24, and will continue “more of the same” — military support and economic and individual sanctions.
___
Parts of Kenya are experiencing the worst drought in 40 years, leaving more than 3 million people severely food-insecure, the country’s new president said Wednesday.
William Ruto said the affected portions have seen scarce rainfall over three consecutive seasons. Supply chain disruptions have only made the food situation worse, he said.
“This unprecedented confluence of intensely adverse events has exacerbated water scarcity and starvation, worsened by rising food prices, thus complicating Kenya’s roadmap towards delivering good quality of life to our citizens,” he told the U.N. General Assembly.
In his first speech to the General Assembly as Kenya’s president, Ruto said the world “cannot afford to waste another moment debating the merits of doing something vis-a-vis doing nothing.”
“It will soon be too late to reverse the course of events,” he said, “and then, even the best possible interventions will not suffice.” ___
First lady Jill Biden and Queen Letizia of Spain have highlighted the importance of global cooperation in efforts to find a cure for cancer.
Both women are advocates for cancer patients. They spoke at the sidelines of the United Nations in New York on Wednesday after touring Columbia University’s Irving Medical Center in the northern Manhattan neighborhood of Washington Heights while their husbands attended the U.N. General Assembly session. The visit was part of the Biden administration’s “Cancer Moonshot,” an ambitious initiative to halve cancer death rates in the next 25 years.
The president and his wife lost their oldest son, Beau, to brain cancer in 2015.
The tour was also a follow-up to when Jill Biden and Letizia met in Madrid in June before a NATO summit. The queen invited the first lady to see some of Spain’s cancer research efforts.
The first lady said Wednesday that she wanted to bring the queen to the Columbia University center so she could learn about cancer research being done in the United States. The Columbia center collaborates with researchers in Spain.
___
Zambia’s president is warning that even a few months of war “can erase decades of progress” in the global fight against poverty.
Hakainde Hichilema’s comments to the U.N. General Assembly on Wednesday come as countries across Africa are experiencing dramatic spikes in food prices following Russia’s invasion of Ukraine.
“War in any part of the world … has a damaging effect on economic activity, which derails our collective fight against poverty and hunger,” he said. “A few months of war can erase decades of progress.”
Hichilema also provided a stark example of climate change’s devastating effects in his southern African country: Half of Zambia experienced total crop failures because of severe drought, while the other half suffered flooding.
“Such extreme weather events are a timely reminder of the grave consequences of climate change,” he told the General Assembly, adding that developing countries need help mitigating the side effects.
___
French President Emmanuel Macron on Wednesday criticized Russian President Vladimir Putin’s decision to declare a partial military mobilization in the face of setbacks in its war in Ukraine, saying it will further isolate Moscow.
Speaking on the sidelines of the U.N. General Assembly in New York, Macron expressed dismay at a decision that would “to drag (Putin’s) country, and in particular his country’s youth, into the war.”
Macron added: “And so today, Russia is increasingly isolated.”
Putin ordered a partial mobilization of reservists Wednesday. It’s a risky and deeply unpopular step that follows humiliating setbacks for his troops nearly seven months after invading Ukraine.
___
U.S. President Joe Biden said the United States supports protests in Iran that sprung up in recent days after a 22-year-old woman died while being held by the morality police for violating the country’s strictly enforced Islamic dress code.
Speaking to the U.N. General Assembly on Wednesday, Biden said: “Today we stand with the brave citizens and the brave women of Iran, who right now are demonstrating to secure their basic rights.”
Biden also explicitly called out human rights abuses by China, Burma and the Taliban in his remarks, saying, “The United States will always promote human rights and the values enshrined in the U.N. Charter in our own country and around the world.”
___
It has been three decades since the U.N. General Assembly adopted the Declaration on the Rights of Persons Belonging to National or Ethnic, Religious and Linguistic Minorities. And the U.N.’s top officials say it’s never been more pressing to uphold its ideals than now.
The U.N. secretary-general and the president of the General Assembly convened a high-level meeting Wednesday to commemorate the anniversary and exhort members to renew efforts to protect and include minorities.
In his opening remarks, the president of the General Assembly said that 75% of the known stateless population across the world belonged to minority groups and more than 70% of the targets of hate speech or crimes are minorities. Csaba Kőrösi said the point of the meeting was not just to cast blame — but to find solutions.
Secretary-General Antonio Guterres echoed the remarks, stressing that countries that protect minority rights are more peaceful and prosperous. He also noted how the coronavirus pandemic laid bare stark inequalities.
Iraqi human rights activist and Nobel Peace Prize winner Nadia Murad also spoke, using the plight of her Yazidi people to describe the importance of minority rights.
The meeting was expected to take much of the day, with more than 80 speakers on the roster for the general debate.
___
Rwandan President Paul Kagame has called accusations lobbed by neighboring Congo a “blame game” that does not solve the region’s problems.
Congo alleges that Rwanda is providing support to the M23 rebel movement, which reemerged last November after remaining mostly dormant for a decade. The rebels’ clashes with the Congolese military have killed hundreds and forced some 200,000 people to flee their homes.
Congo’s president reiterated those accusations at the U.N. General Assembly on Tuesday.
Rwanda has repeatedly denied backing M23, and on Wednesday Kagame said Congo was responsible for cross-border attacks that were “entirely preventable.”
“In eastern (Congo), recent setbacks have served to highlight that the security situation is fundamentally no different than it was 20 years ago when the largest and most expensive United Nations peacekeeping mission was first deployed,” Kagame told U.N. the General Assembly.
___
Nigerian President Muhammadu Buhari says developing countries are “literally paying the price” when it comes to climate change.
“Africa and other developing nations produce only a small proportion of greenhouse gas emissions, compared to industrial economies. Yet we are the hardest hit by the consequences of climate change as we see in the sustained droughts in Somalia and floods of unprecedented severity in Pakistan,” he told the U.N. General Assembly on Wednesday.
“These and other climate-related occurrences are now sadly becoming widely commonplace in the developing world. We are, in effect, literally paying the price for policies that others pursue. This needs to change.”
Buhari says he hopes the UNGA and the upcoming COP27 climate conference “will help galvanize the political will required to drive action towards the fulfillment of the various existing climate-change initiatives.”
___
For more AP coverage of the U.N. General Assembly, visit https://apnews.com/hub/united-nations-general-assembly
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/live-updates-u-n-general-assembly-4/ | 2022-09-22T07:52:35 | en | 0.953002 |
The Bank of England (BoE) is set to hike 50 bps which will take Bank Rate up to 2.25%. Nonetheless, economists at ING expect the GBP/USD pair to extend its downfall towards 1.10.
BoE to hike 50 bps, sterling at risk
“The hawkish BoE has provided little support to sterling this summer. Instead, fiscal concern is growing in the UK and tomorrow's 'fiscal event' could prove the trigger for another round of Gilt and sterling selling.”
“GBP/USD to continue grinding towards 1.10. And a difficult equity environment could see EUR/GBP edging back to the 0.88 area.”
See – BoE Preview: Forecasts from 10 major banks, a close call between 50 bps and 75 bps
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/gbp-usd-to-continue-grinding-towards-110-ing-202209220709 | 2022-09-22T07:52:38 | en | 0.941299 |
By KIM TONG-HYUNG
Associated Press
SEOUL, South Korea (AP) — North Korea says it hasn’t exported any weapons to Russia during the war in Ukraine and has no plans to do so, and said U.S. intelligence reports of weapons transfers were an attempt to tarnish North Korea’s image.
In a state media report Thursday, an unnamed North Korean defense official told the U.S. to stop making “reckless remarks” and to “keep its mouth shut.” Biden administration officials earlier this month confirmed a declassified U.S. intelligence assessment that Russia was in the process of purchasing arms from North Korea, including millions of artillery shells and rockets, as Moscow attempts to ease severe supply shortages in Ukraine worsened by U.S.-led export controls and sanctions.
The North Korean statement came weeks after Moscow described the U.S. intelligence finding as “fake.”
North Korean arms exports to Russia would violate United Nations resolutions banning the country from importing or exporting weapons.
The North Korean official stressed that Pyongyang has never recognized the “unlawful” U.N. Security Council sanctions against the country “cooked up by the U.S. and its vassal forces.” The official said the export and import of military equipment is a “lawful right peculiar to a sovereign state,” according to an English translation of the statement published by the North’s official Korean Central News Agency.
“But we take this opportunity to make clear one thing. We have never exported weapons or ammunition to Russia before and we will not plan to export them,” said the official, who was described as a vice director general of the National Defense Ministry’s general equipment bureau.
“It is not sure from where the rumor originated which the U.S. is spreading, but it is aimed at tarnishing the DPRK’s image,” the official said, referring to the country’s formal name, the Democratic People’s Republic of Korea.
Facing sanctions and export controls, Russia in August bought Iranian-made drones that U.S. officials said had technical problems. Experts say North Korea, if willing, could become a major source of small arms, artillery and other ammunition for Russia, considering the compatibility of their defense systems based on Soviet roots.
North Korea has sought to tighten relations with Russia even as most of Europe and the West has pulled away, blaming the U.S. for the crisis and decrying the West’s “hegemonic policy” as justifying military action by Russia in Ukraine to protect itself.
The North Korean government has even hinted it is interested in sending construction workers to help rebuild pro-Russia breakaway regions in Ukraine’s east. In July, North Korea became the only nation aside from Russia and Syria to recognize the independence of the territories, Donetsk and Luhansk.
North Korea also has used the war as a window to accelerate its own arms development, testing dozens of weapons including its first long-range missiles since 2017, exploiting a divide in the U.N. Security Council, where Russia and China have blocked U.S. attempts to tighten sanctions on Pyongyang.
The North has punctuated its testing activity with repeated threats of nuclear conflict with Seoul and Washington. The latest was a law passed by Pyongyang’s rubber-stamp parliament this month that further enshrined the country’s status as a nuclear power and authorized the preemptive use of nuclear weapons over a broad range of scenarios where its leadership comes under threat.
Sung Kim, the Biden administration’s special representative for North Korea, met with South Korean counterpart Kim Gunn in Seoul on Thursday where they expressed “serious concern” over the North’s escalating nuclear doctrine spelled out in the new law, South Korea’s Foreign Ministry said.
The diplomats reaffirmed the U.S. commitment to defend South Korea in the event of a nuclear war with the full range of its military capabilities, including nuclear. The allies also maintained their months-old assessment that North Korea is gearing up to conduct its first nuclear test since 2017 and discussed “stern” countermeasures to such an action, the ministry said.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/national/2022/09/21/north-korea-denies-sending-arms-to-russia-amid-ukraine-war-2/ | 2022-09-22T07:52:43 | en | 0.955706 |
Considering advanced prints from CME Group for natural gas futures markets, open interest clinched the second consecutive daily drop on Wednesday, this time by around 6.2K contracts. On the other hand, volume went up by around 54.3K contracts after four consecutive daily pullbacks.
Natural Gas still looks contained near $7.50
Prices of natural gas charted an inconclusive session once again on Wednesday amidst shrinking open interest and rising volume, exposing the continuation of the ongoing side-lined theme in the very near term. In the meantime, there is still a decent support around the $7.50 region per MMBtu.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/natural-gas-futures-extra-range-bound-in-store-near-term-202209220636 | 2022-09-22T07:52:45 | en | 0.944088 |
SAN DIEGO (AP) — Blake Snell of the San Diego Padres has pitched six no-hit innings against Albert Pujols and the NL Central-leading St. Louis Cardinals.
The Padres lead 1-0 at Petco Park on Wednesday night.
The left-handed Snell has allowed only two runners, issuing walks to Nolan Arenado leading off the second inning and Paul Goldschmidt with one out in the fourth.
He’s retired Pujols twice — a strikeout and a groundout — with the 42-year-old two home runs shy of 700 for his career.
Snell has struck out 11. The Cardinals haven’t come close to getting a hit and have put only seven balls in play.
He has thrown 92 pitches, 57 for strikes.
Snell came into the game with a 7-9 record and a 3.85 ERA.
___
More AP MLB: https://apnews.com/MLB and https://twitter.com/AP_Sports
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/sports/2022/09/21/padres-snell-has-no-hitter-vs-cardinals-after-6-innings/ | 2022-09-22T07:52:50 | en | 0.940969 |
- Silver price pokes 50-DMA as traders reverse latest gains.
- Monthly support line adds to the downside filters.
- MACD, RSI hints at receding bullish bias, $18.30 appears a tough nut to crack for sellers.
Silver price (XAG/USD) remains pressured around $19.30 while reversing the previous day’s upside momentum heading into Thursday’s European open. In doing so, the bright metal pokes the 50-DMA support while reversing from the downward-sloping resistance line from early June.
Not only the pullback from the key resistance line but the recent retreat of the RSI and the MACD line also keeps the XAG/USD sellers hopeful.
However, an upward sloping support line from September 01, around $19.20, could act as an extra challenge for the metal bears, in addition to the 50-DMA support of $19.30.
In a case where the quote breaks the $19.20 support, a quick fall towards the $19.00 can’t be ruled out.
Following that, a horizontal support area comprising multiple levels marked since mid-July, near $18.30-25, could act as the last defense of silver buyers.
Alternatively, recovery moves need to cross the aforementioned resistance line, at $19.90 by the press time, to convince buyers.
Even so, the monthly high near the $20.00 threshold and the previous month’s peak of $20.87 could challenge the XAG/USD upside afterward.
Silver: Daily chart
Trend: Further downside expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
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Editors’ Picks
GBP/USD drops below 1.1250 as BOE rate hike looms
GBP/USD is turning south towards 1.1200, sitting at 37-year lows in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion weigh on the pair.
EUR/USD eases towards 0.9800 amid risk aversion, USD strength
EUR/USD is resuming its decline towards 0.9800 in early European hours. The post-Fed US dollar rally shows no signs of exhaustion amid risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary.
Gold stays bearish below $1,680 hurdle, focus on central banks
Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.
USD/CHF jumps towards 0.9800 on expected SNB 75 bps rate hike
USD/CHF is advancing towards 0.9800, at two-week highs after the Swiss National Bank (SNB) hiked rates by 75 bps to 0.50%, as widely expected. The US dollar holds onto its staggering post-Fed rally, as markets remain risk averse amid Russia tensions.
BOE Interest Rate Decision Preview: GBP/USD braces for volatility storm, eyeing a 75 bps hike Premium
The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/silver-price-analysis-xag-usd-retreats-from-key-resistance-towards-1900-202209220650 | 2022-09-22T07:52:51 | en | 0.943474 |
At its September quarterly monetary policy assessment, the Swiss National Bank (SNB) hiked its benchmark sight deposit interest rate by 75 bps to 0.50% from -0.25% previous, as widely aniticpated.
In the June meeting, the central bank surprised markets with a 50 bps increase, its first rate hike since September 2007. The dramatic move sent the Swiss franc surging more than 2% against the common currency.
Summary of the statement
In doing so, it is countering the renewed rise in inflationary pressure and the spread of inflation to goods and services that have so far been less affected.
It cannot be ruled out that further increases in the SNB policy rate will be necessary to ensure price stability over the medium term.
To provide appropriate monetary conditions, the SNB is also willing to be active in the foreign exchange market as necessary.
Ready to take further FX measures.
Is adjusting the implementation of its monetary policy to the positive interest rate environment.
This ensures that the secured short-term Swiss franc money market rates remain close to the SNB policy rate.
Banks’ sight deposits held at the SNB are remunerated at the SNB policy rate up to a certain threshold.
Sight deposits above this threshold are remunerated at an interest rate of zero percent.
The SNB will also use liquidity-absorbing measures.
Market reaction
In an initial reaction to the SNB rate hike decision, the USD/CHF pair spiked to fresh two-week highs of 0.9759, where it now wavers. The spot is adding 0.95% on the day.
About SNB Rate Decision
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.
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The Bank of England (BOE) is set to announce its interest rate decision on Thursday at 11:00 GMT, with markets bracing for a surprise 75 basis points (bps) rate hike. | https://www.fxstreet.com/news/snb-hikes-rates-to-by-75-bps-to-050-as-widely-expected-202209220732 | 2022-09-22T07:52:58 | en | 0.950654 |
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the Fed’s goal of engineering a “soft landing” — in which it would manage to slow growth enough to curb inflation but not so much as to cause a recession — looks increasingly unlikely.
“The chances of a soft landing,” Powell said, “are likely to diminish” as the Fed steadily raises borrowing costs to slow the worst streak of inflation in four decades. “No one knows whether this process will lead to a recession or, if so, how significant that recession would be.”
Before the Fed’s policymakers would consider halting their rate hikes, he said, they would have to see continued slow growth, a “modest” increase in unemployment and “clear evidence” that inflation is moving back down to their 2% target.
“We have got to get inflation behind us,” Powell said. “I wish there were a painless way to do that. There isn’t.”
Powell’s remarks followed another substantial three-quarters of a point rate hike — its third straight — by the Fed’s policymaking committee. Its latest action brought the Fed’s key short-term rate, which affects many consumer and business loans, to 3% to 3.25%. That’s its highest level since early 2008.
Falling gas prices have slightly lowered headline inflation, which was a still-painful 8.3% in August compared with a year earlier. Those declining prices at the gas pump might have contributed to a recent rise in President Joe Biden’s public approval ratings, which Democrats hope will boost their prospects in the November midterm elections.
On Wednesday, the Fed officials also forecast more jumbo-size hikes to come, raising their benchmark rate to roughly 4.4% by year’s end — a full point higher than they had envisioned as recently as June. And they expect to raise the rate again next year, to about 4.6%. That would be the highest level since 2007.
By raising borrowing rates, the Fed makes it costlier to take out a mortgage or an auto or business loan. Consumers and businesses then presumably borrow and spend less, cooling the economy and slowing inflation.
In their quarterly economic forecasts, the Fed’s policymakers also projected that economic growth will stay weak for the next few years, with unemployment rising to 4.4% by the end of 2023, up from its current level of 3.7%. Historically, economists say, any time unemployment has risen by a half-point over several months, a recession has always followed.
“So the (Fed’s) forecast is an implicit admission that a recession is likely, unless something extraordinary happens,” said Roberto Perli, an economist at Piper Sandler, an investment bank.
Fed officials now foresee the economy expanding just 0.2% this year, sharply lower than their forecast of 1.7% growth just three months ago. And they envision sluggish growth below 2% from 2023 through 2025. Even with the steep rate hikes the Fed foresees, it still expects core inflation — which excludes volatile food and gas costs — to be 3.1% at the end of 2023, well above its 2% target.
Powell warned in a speech last month that the Fed’s moves will “bring some pain” to households and businesses. And he added that the central bank’s commitment to bringing inflation back down to its 2% target was “unconditional.”
Short-term rates at a level the Fed is now envisioning will force many Americans to pay much higher interest payments on a variety of loans than in the recent past. Last week, the average fixed mortgage rate topped 6%, its highest point in 14 years, which helps explain why home sales have tumbled. Credit card rates have reached their highest level since 1996, according to Bankrate.com.
Inflation now appears increasingly fueled by higher wages and by consumers’ steady desire to spend and less by the supply shortages that had bedeviled the economy during the pandemic recession. On Sunday, Biden said on CBS’ “60 Minutes” that he believed a soft landing for the economy was still possible, suggesting that his administration’s recent energy and health care legislation would lower prices for pharmaceuticals and health care.
The law may help lower prescription drug prices, but outside analyses suggest it will do little to immediately bring down overall inflation. Last month, the nonpartisan Congressional Budget Office judged it would have a “negligible” effect on prices through 2023. The University of Pennsylvania’s Penn Wharton Budget Model went even further to say “the impact on inflation is statistically indistinguishable from zero” over the next decade.
Even so, some economists are beginning to express concern that the Fed’s rapid rate hikes — the fastest since the early 1980s — will cause more economic damage than necessary to tame inflation. Mike Konczal, an economist at the Roosevelt Institute, noted that the economy is already slowing and that wage increases — a key driver of inflation — are levelling off and by some measures even declining a bit.
Surveys also show that Americans are expecting inflation to ease significantly over the next five years. That is an important trend because inflation expectations can become self-fulfilling: If people expect inflation to ease, some will feel less pressure to accelerate their purchases. Less spending would then help moderate price increases.
The Fed’s rapid rate hikes mirror steps that other major central banks are taking, contributing to concerns about a potential global recession. The European Central Bank last week raised its benchmark rate by three-quarters of a percentage point. The Bank of England, the Reserve Bank of Australia and the Bank of Canada have all carried out hefty rate increases in recent weeks.
And in China, the world’s second-largest economy, growth is already suffering from the government’s repeated COVID lockdowns. If recession sweeps through most large economies, that could derail the U.S. economy, too.
___
AP Economics Writer Paul Wiseman contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. | https://wtmj.com/ap-news/2022/09/21/powells-stark-message-inflation-fight-may-cause-recession-2/ | 2022-09-22T07:52:58 | en | 0.96216 |
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