Notable Residents – Ardud http://ardud.ro/ Fri, 11 Jun 2021 21:20:50 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://ardud.ro/wp-content/uploads/2021/05/default1-150x150.png Notable Residents – Ardud http://ardud.ro/ 32 32 CANADA’S FX DEBT – Canadian dollar falls most in 7 weeks as Fed meeting approaches https://ardud.ro/canadas-fx-debt-canadian-dollar-falls-most-in-7-weeks-as-fed-meeting-approaches/ https://ardud.ro/canadas-fx-debt-canadian-dollar-falls-most-in-7-weeks-as-fed-meeting-approaches/#respond Fri, 11 Jun 2021 19:34:26 +0000 https://ardud.ro/canadas-fx-debt-canadian-dollar-falls-most-in-7-weeks-as-fed-meeting-approaches/ (Add quotes and strategist details throughout; update prices) * Canadian dollar weakens 0.6% against greenback * Loonie hits 4-week low at 1.2177 * Oil hits multi-year high at $ 71.24 per barrel * Canadian 10-year yield peaks Three-month low By Fergal Smith TORONTO, June 11 (Reuters) – The Canadian dollar weakened to a low of […]]]>


(Add quotes and strategist details throughout; update prices) * Canadian dollar weakens 0.6% against greenback * Loonie hits 4-week low at 1.2177 * Oil hits multi-year high at $ 71.24 per barrel * Canadian 10-year yield peaks Three-month low By Fergal Smith TORONTO, June 11 (Reuters) – The Canadian dollar weakened to a low of four weeks versus its significantly stronger US counterpart on Friday, as investors assessed the risk that the Federal Reserve would take action that could tighten policy to an interest rate announcement next week. The loonie was trading down 0.6% to 1.2169 against the greenback, or 82.18 cents US, its largest decline since April 20. It hit its lowest intraday level since May 14 at 1.2177. For the week, it was down 0.8%. “This is a huge dollar story, where we saw a sharp rebound in the (US) dollar index and the dollar-CAD came into place,” said Greg Anderson, global head of FX strategy at BMO Capital Markets. “The market was ripe for this correction, and it could drag on for another day or two.” The US dollar rallied as investors bet interest rates would stay lower longer in Europe. “We have a nervous market ahead of the FOMC next week. This is a critical event, “Anderson said, referring to the Fed’s Federal Open Market Committee. Avenues the Fed could use to tighten its policy include raising the interest rate it pays on reserves. surplus., projecting an earlier date for its first rate hike, and acknowledging that now is the time to talk about reducing quantitative easing. With soaring commodity prices, the Canadian dollar has been the strongest currency. performance of the G10 this year, up 4.7% against the greenback. A stronger loonie usually hurts exporters, but the nature of the global economic recovery could help companies pass their higher currency costs onto customers, leaving exporters less hurt than in previous cycles. Oil, one of Canada’s top exports, hit a multi-year high at $ 71.24 per barrel. The Canadian 10-year rate s hit its lowest level since March 3 at 1.368% before climbing back to 1.380%, up almost a basis point on the day. (Reporting by Fergal Smith; editing by Jonathan Oatis)



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From Forex to Bonds, RBI Faces a Whack-A-Mole Challenge https://ardud.ro/from-forex-to-bonds-rbi-faces-a-whack-a-mole-challenge/ https://ardud.ro/from-forex-to-bonds-rbi-faces-a-whack-a-mole-challenge/#respond Fri, 11 Jun 2021 02:23:02 +0000 https://ardud.ro/from-forex-to-bonds-rbi-faces-a-whack-a-mole-challenge/ India’s currency, bond and money markets have each seen their share of the drama over the past year as the Reserve Bank of India battled exceptional circumstances amid the Covid crisis. In doing so, India’s central bank has stepped up its intervention in the markets to maintain what Governor Shaktikanta Das has called “friendly” financial […]]]>


India’s currency, bond and money markets have each seen their share of the drama over the past year as the Reserve Bank of India battled exceptional circumstances amid the Covid crisis.

In doing so, India’s central bank has stepped up its intervention in the markets to maintain what Governor Shaktikanta Das has called “friendly” financial conditions. But interventions in one market segment have inevitably led to anomalies in others.

Call it the RBI mole problem.

The most recent market to see this game has been the forex market.

During the months of April and May, concerns arose about an increase in dollar / rupee term premiums. 12-month term premiums jumped to over 5% in early May, but have since fallen below 4.5%. Simply put, term premiums are the difference between the dollar / rupee spot rate and the term rate, say a month or three months or a year later.

What led to the rise in futures premiums is an episodic narrative with an underlying factor – the RBI intervened more than ever through the rupee futures market.

Data available in March shows the RBI had a futures dollar position of nearly $ 73 billion. According to Vivek Kumar, an economist at QuantEco Research, this is the highest ever.

While the RBI often intervenes in foreign exchange markets, both to prevent undue appreciation and depreciation, its intervention is primarily through the spot markets. Here, either he buys dollars, in turn freeing up rupee cash, or he sells dollars, absorbing rupee cash.

Over the past twelve months, however, the rush for foreign inflows has been strong, with India receiving $ 36.2 billion in REIT flows, the highest since 2016-17. Add to that record FDI inflows of $ 81.7 billion.

This forced the RBI to intervene not only through spot markets, but also through futures, as it tried to prevent a sudden appreciation of the Indian rupee, which could hurt India’s export prospects. while leaving it vulnerable to strong corrections later if the flows were to reverse.

There are a number of theories as to why the RBI began to intervene more in futures contracts than in the spot market.

One theory says that the central bank did not want its balance sheet to grow too much because that would have forced it to set aside more reserves, which would have led to a smaller surplus transfer to the government. Buying foreign currency in the spot market immediately increases the size of the RBI’s balance sheet, which is made up of domestic assets, such as bonds, and foreign assets, i.e. foreign exchange reserves.

The central bank, however, maintains that balance sheet considerations do not determine its approach to managing foreign exchange.

Another explanation is that given the already large excess liquidity in domestic markets, the RBI may not have been keen to add to it via heavy spot currency purchases. This liquidity would have returned directly to the RBI through the reverse repurchase window, and at some point the central bank might have started to exhaust the pool of securities it offers to those who place funds in the window. reverse repurchase agreement. Banks were parking between Rs 6-7 lakh crore with the RBI at this time and government cash balances were also high.

A third possible explanation is that tools used in the past to mop up excess liquidity generated by foreign exchange flows, such as the Market Stabilization Mechanism or MSS bonds, were not considered a good idea in the context. current because they would have added to the already heavy supply of government paper on the market. In such a scenario, the RBI used whatever tools it could.

This is where we come back to the mole analogy.

The reason this situation occurred is that the RBI was not willing to let the dollar / rupee find its own level. For good reason, yes. But because the RBI intervened heavily to keep the rupee spot rate stable, it ended up skewing forward premiums.

Certainly, in addition to the RBI’s intervention strategy, a few other factors may have played a role in the volatility of the futures market.

Large influxes related to the Powergrid InvIT caused part of this. A change to the RBI’s large exposures, which essentially limited the dollars that foreign banks could park with their parent entities, also played a role, according to forex traders.

Term premiums have now stabilized at more reasonable levels.

Madhavi Arora, economist at Emkay Global, said the RBI has started to unwind some of its futures positions and take delivery of upcoming maturities. It was also found to be taking early delivery. This helped push down forward premiums, which Arora said had increased due to the combination of the factors discussed above.

She added that as term premiums increased, it might have made more sense for the RBI to absorb cash at 3.5% through its reverse repo window rather than paying more than $ 4. , About 5% on the futures market.

In addition, foreign inflows have moderated.

Even though term premiums have come down, they remain above historical averages, Kumar said. He added that given the narrowing inflation differential between the United States and India, premiums could have gone down, but they haven’t.

Ultimately, a higher premium makes it more costly for companies to hedge their forex exposure and discourages them, Kumar explained. This can come at its own risk down the line. Arora shared this view, warning that uncomfortably high premiums could still emerge at times when sudden and large inflows are seen.

The act of juggling the RBI is forced into in the forex market has a parallel in the bond and money markets.

At first, when the RBI flooded the system with liquidity, much of it rushed into short-term commercial paper borrowing. The result was that for a while the government and even some well-rated companies borrowed at rates below the RBI repo rate, rendering monetary policy ineffective in some ways.

The RBI addressed this issue by restarting floating rate reverse repurchase transactions.

Around February, markets started to increase the benchmark 10-year yield, both due to high government borrowing of Rs 12 lakh crore for the current year and due to the expected political normalization over the course of the year. year.

The RBI thought it was too early for benchmark rates to rise, so they started buying these securities through open market operations, secondary markets and, more recently, its G-SAP program. As Bloomberg reported, the RBI now owns more than 50% of the benchmark stock.

As the RBI focused on the 10-year, other segments of the market began to see their rates rise. These were first yields on 5-year bonds, then yields on longer-term bonds and, more recently, government bonds. The RBI had to step in to cool each of these markets from time to time.

Moral of the story: no action is without reaction.

The RBI’s juggling act is unlikely to end anytime soon if it feels that controlling rupee and benchmark returns is the way to go. Maintaining the independence of monetary policy while allowing a constant flow of foreign capital and keeping a stable currency is called “The Impossible Trinity” for a reason.

Ira Dugal is Editor-in-Chief at BloombergQuint.

The author would like to thank Vivek Kumar, economist at QuantEco Research and Madhavi Arora, economist at Emkay Global for their contributions.



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Sterling technical analysis: GBP / AUD, GBP / CAD, GBP / NZD rate https://ardud.ro/sterling-technical-analysis-gbp-aud-gbp-cad-gbp-nzd-rate/ https://ardud.ro/sterling-technical-analysis-gbp-aud-gbp-cad-gbp-nzd-rate/#respond Wed, 09 Jun 2021 22:50:00 +0000 https://ardud.ro/sterling-technical-analysis-gbp-aud-gbp-cad-gbp-nzd-rate/ Pound sterling Outlook: Sterling-commodity currency crosses remain at a distance, as they have been doing for many months now. GBP / AUD rates remain the most attractive of the three GBP crosses examined in this report, continuing to linger below trendline resistance over several decades. According to the IG Customer Sentiment Index, the pound sterling […]]]>


Pound sterling Outlook:

  • Sterling-commodity currency crosses remain at a distance, as they have been doing for many months now.
  • GBP / AUD rates remain the most attractive of the three GBP crosses examined in this report, continuing to linger below trendline resistance over several decades.
  • According to the IG Customer Sentiment Index, the pound sterling has a mixed bias.

Range trading persists

A more limited price development in the pound sterling is perhaps not a surprise given recent price developments. The weakness of the pound sterling was offset by an environment defined by falling commodity prices, which duly handicapped the commodity currencies trio. As the volatility measures subside as the summer months approach, it is possible that these GBP crosses will remain in a range for the foreseeable future.

GBP/EUR TECHNICAL ANALYSIS RATE: WEEKLY GRAPHIC (July 2008 to May 2021) (GRAPHIC 1)

The weekly GBP / AUD rate chart still shows how the pair is currently grappling with two longer term technical structures. From a certain point of view, GBP / AUD rates were pushed back to the downtrend line of the 2008 and 2015 highs, a trend line it had already crossed for a few weeks in 2020 before dropping down. The other perspective is that GBP / AUD rates sit in the middle of a symmetrical triangle formed with resistance measured from the 2015 and 2020 highs and support measured from the 2013 and 2016 lows.

GBP/EUR TECHNICAL ANALYSIS RATE: DAILY GRAPHIC (January 2020 to May 2021) (GRAPHIC 2)

Sterling technical analysis: GBP / AUD, GBP / CAD, GBP / NZD rate

GBP / AUD rates marked a series of “higher highs and higher lows” in January, February, April, May and now June. However, all is not optimistic. The pair is struggling to maintain its daily 21-EMA as support while testing the 23.6% Fibonacci retracement of the 2020/2021 high range at 1.8227. The change in momentum comes as the pair had just found rejection at the parallel channel resistance dating back to June 2020. A deeper pullback could develop before GBP / AUD rates finally reach their bullish technical potential at long term.

GBP/GOUJAT TECHNICAL ANALYSIS RATE: DAILY GRAPHIC (February 2020 to May 2021) (GRAPHIC 3)

Sterling technical analysis: GBP / AUD, GBP / CAD, GBP / NZD rate

More range trading has defined the GBP / CAD price action in recent weeks. The pair continues to track the 38.2% Fibonacci retracement (1.7121) as well as the ascending trendline from the August 2019 and December 2020 lows for several weeks. The dynamics are fairly neutral. GBP / CAD rates are tangled in their daily EMA envelope, which is neither in bearish nor bullish sequential order. Daily Slow Stochastics retreat before reaching overbought territory, while Daily MACD continues to rise towards its signal line while in bearish territory. More clarity is needed before determining a directional bias.

GBP/NZD TECHNICAL ANALYSIS RATE: DAILY GRAPHIC (January 2020 to May 2021) (GRAPHIC 4)

Sterling technical analysis: GBP / AUD, GBP / CAD, GBP / NZD rate

GBP / NZD rates continue to wrap around the top of the symmetrical 10-month triangle while playing ping-pong Fibonacci retracements at 23.6% (1.9287) and 38.2% (1.9760) of the 2020/2021 high range, while following the ascending trendline from the October 2008 and August 2015 lows. Directional bias is lacking, as is momentum: the EMA envelope is not neither in a bearish nor a bullish sequential order; the daily MACD is flat, just above its signal line; and the daily slow stochastics are flat, just above their midline.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

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GLOBAL MARKETS – Bond yields hit new one-month low as tapering bets retreat https://ardud.ro/global-markets-bond-yields-hit-new-one-month-low-as-tapering-bets-retreat/ https://ardud.ro/global-markets-bond-yields-hit-new-one-month-low-as-tapering-bets-retreat/#respond Wed, 09 Jun 2021 08:45:02 +0000 https://ardud.ro/global-markets-bond-yields-hit-new-one-month-low-as-tapering-bets-retreat/ (Updates everywhere) * The yield on US 10-year debt at its lowest since May * Global stocks are approaching record highs * Some see the Fed stimulus in place for some time * US oil close to 2.5-year high * Overall performance of assets http://tmsnrt.rs/2yaDPgn * Global exchange rates http://tmsnrt.rs/2egbfVh By Tom Arnold and Hideyuki […]]]>


(Updates everywhere)

* The yield on US 10-year debt at its lowest since May

* Global stocks are approaching record highs

* Some see the Fed stimulus in place for some time

* US oil close to 2.5-year high

* Overall performance of assets http://tmsnrt.rs/2yaDPgn

* Global exchange rates http://tmsnrt.rs/2egbfVh

By Tom Arnold and Hideyuki Sano

LONDON / TOKYO, June 9 (Reuters) – Global stock prices approached record highs on Wednesday, while US bond yields hit their lowest levels in a month, investors betting the Federal Reserve is far from easing its economic stimulus measures.

The focus is on the release of U.S. consumer price data on Thursday and a meeting of the European Central Bank for new clues on when policymakers could start pulling back support for the United States. European economy deployed after the COVID-19 crisis.

The MSCI All Country World Index last stood at 716.42, after hitting an intraday high of 718.19 on Tuesday, led by gains in Europe.

European stocks were down 0.1%, the UK FTSE down 0.5%.

In Asia, the largest MSCI index of Asia-Pacific equities excluding Japan fell 0.3% and the Japanese Nikkei average lost 0.4%.

In the US, Nasdaq futures were 0.2% firmer and S&P 500 futures were up 0.1%.

The yield on US 10-year debt, on the other hand, hit a new low of the month for the second day in a row, hitting 1.504% and down a quarter of a percentage point from the 14-month high reached in March.

The 10-year German Bund yield, which is closely correlated to US Treasuries, extended Tuesday’s decline to fall to -0.240%, the lowest since May 7, as eurozone investors continue to anticipate an accommodating result at the ECB policy meeting on Thursday.

“While the labor market recovery is contained, any discussion at the Fed on tapering is unlikely to gain momentum, even if it starts soon,” said Naokazu Koshimizu, senior rate strategist at Nomura Securities.

“So those who had bet on a steepening of the yield curve are unwinding their positions while some investors are also now buying to gain carry.”

U.S. payroll data last Friday showed hirings had not grown as quickly as economists had expected, despite growing signs of a labor shortage.

Many analysts believe that more evidence of strong job growth would be needed for the Federal Reserve to step up discussions on the cut.

The US central bank has said inflation increases this quarter will be transitional and will not threaten price stability, one of its main mandates.

US consumer price data on Thursday is expected to show that the overall annual inflation rate has risen to 4.7% and core inflation has risen to 3.4%.

While these numbers will be well above the Fed’s inflation target of 2%, many economists expect the inflation rate to decline in the coming months, allowing the Fed to wait before taking reduction measures.

Still, some investors remain suspicious.

“Nothing we see in tomorrow’s report can prove or disprove any of the theories about the future path of inflation, but I suspect the market is not fully believing in the Fed’s permanent wait message. “said James Athey, chief investment officer at Aberdeen Standard Investments.

“So I see the potential for a higher print to push real yields and shorter-dated yields higher, flattening the curve and raising the dollar. This might not be an ideal environment for risky assets. “

STABLE COINS

Inflation data from China showed its producer price index jumped 9.0% from a year earlier, the highest in more than 12 years, due to soaring prices. commodity prices.

However, the rise in consumer prices was weaker than expected, helping to alleviate concerns. As China’s central bank slowly cuts the pandemic-induced stimulus package, key leaders have pledged to avoid any sharp policy shift and keep borrowing costs low.

The Chinese yuan, whose rally to a three-year high last week was propelled in part by speculation that Beijing might want a stronger yuan to keep inflationary pressures under control, edged up to 6.3945 per dollar.

The other currencies hardly budged. The US dollar index was stuck at 90.077.

The euro held steady at $ 1.2179, while the dollar held steady at 109.47 yen.

Deutsche Bank’s currency volatility index hit its lowest level since February 2020 on Tuesday and sank further on Wednesday.

With European bond markets calm, Greece followed Italy with a bond sale, opening the books on Wednesday for a 10-year issue.

Oil prices held steady after US Secretary of State Antony Blinken said that even if the United States reached a nuclear deal with Iran, hundreds of US sanctions against Tehran would remain in place.

U.S. crude futures closed above $ 70 a barrel for the first time since October 2018 on Tuesday and last stood at $ 70.40, up 0.5%.

Brent futures rose 0.5% to $ 72.56, after hitting their highest level since May 20, 2019.

(Reporting by Hideyuki Sano; Editing by Kim Coghill and Emelia Sithole-Matarise)



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Tuesday exchange rate against the Egyptian pound https://ardud.ro/tuesday-exchange-rate-against-the-egyptian-pound/ https://ardud.ro/tuesday-exchange-rate-against-the-egyptian-pound/#respond Tue, 08 Jun 2021 15:12:41 +0000 https://ardud.ro/tuesday-exchange-rate-against-the-egyptian-pound/ Currency prices on Tuesday recorded a difference against the Egyptian pound at the start of today’s trading in banks compared to Monday. According to Monday’s updates from the National Bank of Egypt, the exchange rate of the British pound rose against the Egyptian pound, recording LE 22.07 on buy, LE 22.29 on sell, against LE […]]]>


Currency prices on Tuesday recorded a difference against the Egyptian pound at the start of today’s trading in banks compared to Monday.

According to Monday’s updates from the National Bank of Egypt, the exchange rate of the British pound rose against the Egyptian pound, recording LE 22.07 on buy, LE 22.29 on sell, against LE 22.04 buy and LE 22.27 sell, while the exchange rate of the Saudi riyal stabilized at LE 4.15 buy and LE 4.19 sell and the dollar stabilized at LE 15.62 pounds buy and LE 15.72 sell.

According to the latest updates from several different banks, led by the National Bank of Egypt, Al-Masry Al-Youm today released the following exchange rates against the Egyptian pound:

Price in dollars

The dollar has stabilized today against the Egyptian pound at a price of LE 15.62 buy and LE 15.72 sell.

European Euro

The euro exchange rate rose against the Egyptian pound, registering LE 19.00 to buy and LE 19.16 to sell.

pound sterling

The exchange rate of the British pound rose against the Egyptian pound, registering LE 22.07 on the buy side and LE 22.29 on the sell side.

Saudi riyal

The exchange rate of the Saudi riyal against the Egyptian pound stabilized at LE 4.15 buy and LE 4.19 sell.

Kuwaiti dinar

The exchange rate of the Kuwaiti dinar rose against the pound against the Egyptian pound, registering LE 49.14 buy and LE 52.26 sell.

Edited translation of Al-Masry Al-Youm



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The dollar plunges as treasury yields are low https://ardud.ro/the-dollar-plunges-as-treasury-yields-are-low/ https://ardud.ro/the-dollar-plunges-as-treasury-yields-are-low/#respond Mon, 07 Jun 2021 19:18:00 +0000 https://ardud.ro/the-dollar-plunges-as-treasury-yields-are-low/ By Sinéad Carew, Karen Brettell NEW YORK (Reuters) – The dollar fell slightly on Monday as Treasury yields were moribund and investors eagerly awaited European and US central bank meetings. FILE PHOTO: Four thousand US dollars are counted by a banker counting change at a bank in Westminster, Colorado, November 3, 2009. REUTERS / Rick […]]]>


NEW YORK (Reuters) – The dollar fell slightly on Monday as Treasury yields were moribund and investors eagerly awaited European and US central bank meetings.

FILE PHOTO: Four thousand US dollars are counted by a banker counting change at a bank in Westminster, Colorado, November 3, 2009. REUTERS / Rick Wilking / File Photo

Friday’s US jobs data put pressure on the dollar as investors bet job growth was not strong enough to raise expectations for the US Federal Reserve to tighten policy monetary.

This movement continued on Monday, with Treasury yields remaining subdued after Friday’s drop, reducing demand for the US dollar.

“T-bill yields edged up during the session, but remained well below levels seen before the jobs report. It was probably the engine behind the weakness of the US dollar on Monday, ”said Ronald Simpson, managing director of global currency analysis at Action Economics.

The dollar index lost 0.21% to 89.946 while the euro gained 0.23% to $ 1.2194. The dollar also lost 0.23% to 109.26 Japanese yen.

Benchmark 10-year Treasury yields were at 1.569% for the last time. They fell to 1.560% from 1.628% on Friday.

“At this point, it looks like the market really wants to run out of dollars. For us, this suggests that there is a risk involved in this move. It’s a crowded post. You already have a significant portion of the market which is net short in US dollars, so if we think we need a dismantling of those positions, ”said Bipan Rai, head of foreign exchange strategy for North America at CIBC Capital Markets.

While Rai said there was “some risk of the dollar recovering,” he noted that investors were awaiting the Federal Reserve meeting next week.

Market participants will also look at US inflation data and the European Central Bank meeting, both on Thursday.

The conciliatory rhetoric from ECB policymakers suggests the bank is in no rush to slow the pace of purchases under the € 1.85 trillion Pandemic Emergency Purchase Program (PEPP) ( $ 2.24 trillion).

Speculators have reduced their net dollar short positions over the past week, according to Reuters calculations and US Commodity Futures Trading Commission data released on Friday.

Currency investors appeared to ignore the news that the United States, Britain and other wealthy countries reached a deal on Saturday to withdraw more money from multinational companies such as Amazon and Google and reduce their incentive to shift their profits to low-tax offshore havens.

“They were expected to come to some sort of deal,” said CIBC’s Rai, but said investors were probably reluctant to make bets because “the road is long and involves many risks.” .

The Australian dollar, which is seen as an indicator of risk appetite, rose 0.22% against the US dollar to 0.776.

In cryptocurrencies, bitcoin fell 0.83% to $ 35,507, while ether fell 0.61% to $ 2,693.

Chart: USD –

Reporting by Sinead Carew and Karen Brettell, editing by Angus MacSwan



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the FX series changed the trans representation without reveling in the sadness https://ardud.ro/the-fx-series-changed-the-trans-representation-without-reveling-in-the-sadness/ https://ardud.ro/the-fx-series-changed-the-trans-representation-without-reveling-in-the-sadness/#respond Sun, 06 Jun 2021 09:40:00 +0000 https://ardud.ro/the-fx-series-changed-the-trans-representation-without-reveling-in-the-sadness/ Sunday evening, Pose, the FX series that follows the lives of trans women and black gay men during the height of the AIDS epidemic in New York City, will end. The show made visible the lives of one of America’s most marginalized groups, but at best, it was the big dreams of little people struggling […]]]>


Sunday evening, Pose, the FX series that follows the lives of trans women and black gay men during the height of the AIDS epidemic in New York City, will end. The show made visible the lives of one of America’s most marginalized groups, but at best, it was the big dreams of little people struggling to get by. Whether the dream is a curvy butt, a ballroom trophy, or a global career in modeling or dancing, Pose connects to the universal human impulse to struggle, to despair of failures and to work to overcome them. The show is also imbued with the certainty that in the end we all inevitably lose everything we achieve, but it never revels in sadness or loss.

There is a mirror quality to the way Pose lands with cisgender and transgender audiences. For mainstream viewers, the show humanizes the type of people who have been deprived of their humanity, allowing cisgender people the epiphany that, oh yeah, they are recognizable human beings with weaknesses, failures, sorrows and failures. human efforts. For trans viewers who already knew we were human, it uplifts our lives, showing us that our struggles and triumphs deserve to be on screen as well.

The series as a whole is an incredible accomplishment.

That sense of assertiveness is strongest with the most flawed and flawed characters, which is why the second season is the highlight of the series, and the final season is kind of a decrease from those heights. , although it is satisfying to see the characters we have grown to love finding happiness, wealth and / or love. At Pose, an irresponsible, crack-smoker stripper (Hailie Sahar’s Lulu) may aspire to go back to school and become an accountant, instead of being just a warning or a punchline. This rings true in the lives of trans people, which are full of weird juxtapositions, apparent contradictions, and fatal (or nearly fatal) flaws in our plans.

The absurd and the hilarious are another inescapable aspect of trans life which in Pose is given its due, especially in the scenes and subplots that revolve around ballroom culture. The series opens with my favorite of them: A daring museum heist, designed by Dominique Jackson’s iconic Elektra Abundance, wins at the House of Abundance a particularly extravagant royalty-themed costume set, but their triumph in the ball ends in handcuffs after the police stalk them. There is a lot of Pose sets that bring that same feeling of fantastic, over-the-top fun, which is why it always feels like it does a disservice to the show to tell people that these are queer people of color during the AIDS epidemic. While the presence of AIDS is felt everywhere, the times and places where characters flee and hide most effectively are those where they are most vibrant and alive.

HIV is no longer the death sentence it was in the 1980s, but trans life continues to be lived on the fringes. Stigma against trans people continues to lead to high rates of family rejection, homelessness, unemployment, violence, poor health and premature death. Perhaps this is why, in the season finale, the understandable impulse from the show’s creators to show off the positive and happy sides of trans life is abused. Several characters who have struggled with addiction have sudden redemptive arcs that felt a bit unwarranted, and at times the dialogue goes beyond serious and becomes an 80s movie-of-the-week style preacher. While it felt good to leave characters behind beloveds on a high note, it felt less good to feel them rushing towards happy endings at breakneck speed.

If the show had had a little more time, it arguably would have avoided this, but the unfortunate result is that the final season of Pose was the weakest of the three, with too much wish fulfillment and not enough mess. But the series as a whole is an incredible accomplishment. It is very specific while remaining accessible to the general public. It’s uplifting and ambitious while allowing its characters to struggle and fail. It’s fun and over the top and fantastic but also very human and real. It humanizes the poor people living with, and sometimes dying of AIDS, without ever being more about disease and death than about life. Its villains are trendy and fun, and given humanizing moments, its heroes are flawed, with the exception of Blanca, played by MJ Rodriguez, whose holiness is at least emphasized and mocked. While it focuses on trans women of color, there are characters from other backgrounds and experiences that have room to breathe, which makes the world the characters inhabit feel fully populated. It was wonderful to have a show that brought a diverse cast of transgender women into the limelight. I hope this is only the first of many shows to portray trans life in all of its various modes.



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XAU / USD threatened by US CPI ahead of Fed June rate decision https://ardud.ro/xau-usd-threatened-by-us-cpi-ahead-of-fed-june-rate-decision/ https://ardud.ro/xau-usd-threatened-by-us-cpi-ahead-of-fed-june-rate-decision/#respond Sat, 05 Jun 2021 20:00:00 +0000 https://ardud.ro/xau-usd-threatened-by-us-cpi-ahead-of-fed-june-rate-decision/ Fundamental Forecast of Gold – Neutral Gold prices weakened last week, but cut losses on US NFPs Higher-than-expected US CPI report could reignite gold bears But, the follow-up may have to wait for the Fed’s rate decision. Anti-fiat gold priceGold was aiming lower last week, cutting some downside progress on Friday. A mixed U.S. Non-Farm […]]]>


Fundamental Forecast of Gold – Neutral

  • Gold prices weakened last week, but cut losses on US NFPs
  • Higher-than-expected US CPI report could reignite gold bears
  • But, the follow-up may have to wait for the Fed’s rate decision.

Anti-fiat gold priceGold was aiming lower last week, cutting some downside progress on Friday. A mixed U.S. Non-Farm Payroll Report drove down Treasury yields and the US dollar, providing XAU / USD bullish momentum. While the average hourly wage exceeded expectations, the gain of flagship jobs reached 559,000, below the consensus of 650,000. As the unemployment rate fell, so did the labor force participation rate. .

The leading event risk for gold next week is arguably Thursday’s US CPI report. A month ago, overall consumer price growth rose 4.2% year-on-year. This was the fastest pace since September 2008 and rekindled bets of a faster-than-expected cut in the Fed’s monetary policy. But the consistently accommodating comments from the central bank quickly dampened those expectations.

The core inflation rate, which excludes volatile food and energy prices, is expected to hit 3.4% year-on-year in May. On the graph below, that would be the highest since early 1993, or just 30 years ago. An unexpected beating in the data could reignite bets on the Fed’s tapering, pushing up bond yields, the US dollar and lowering anti-fiat gold prices.

But, the extent of the follow-up may have to wait for the Fed’s next interest rate decision later this month. Some members, as Patrick Harker, began to talk about when to unwind the loss policy. The central bank’s position, for now, is that recent inflation is transitory, impacted by a weak base effect for a year.

As such, it could be possible that the central bank’s advance anticipation leaves gold in a state of consolidation. Traders can wait for how the Fed might change its tone amid last week’s NFPs and the upcoming CPI report. University of Michigan sentiment is expected to cross wires at 84.0 on Friday, from 82.9 previously. Check DailyFX Economic Calendar for key updates related to the yellow metal.

Core inflation in the United States since 1993

– Written by Daniel Dubrovsky, Strategist for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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Canadian dollar outlook depends on Bank of Canada (BoC) rate decision https://ardud.ro/canadian-dollar-outlook-depends-on-bank-of-canada-boc-rate-decision/ https://ardud.ro/canadian-dollar-outlook-depends-on-bank-of-canada-boc-rate-decision/#respond Sat, 05 Jun 2021 04:00:00 +0000 https://ardud.ro/canadian-dollar-outlook-depends-on-bank-of-canada-boc-rate-decision/ Talking Points in Canadian Dollars USD / CAD returns to early month rebound as weaker than expected US Non-Farm Wages (NFP) Report The greenback is lagging behind, and the Canadian dollar could continue to outperform its US counterpart if the Bank of Canada (BoC) reveals a less conciliatory forward-looking stance for monetary policy. Fundamental forecast […]]]>


Talking Points in Canadian Dollars

USD / CAD returns to early month rebound as weaker than expected US Non-Farm Wages (NFP) Report The greenback is lagging behind, and the Canadian dollar could continue to outperform its US counterpart if the Bank of Canada (BoC) reveals a less conciliatory forward-looking stance for monetary policy.

Fundamental forecast for the Canadian dollar: Neutral

The USD / CAD does not appear to be fazed by the 68.0K drop in employment in Canada as it retreats from a new weekly high (1.2133), and it remains to be seen whether the BoC will respond to the new data print as job growth contracts for the second month in a row.

Keep in mind that the BoC taperinged his quantitative easing program (QE) at the April meeting when the central bank improved its economic forecast, and it looks like the governor Tiff macklem and Co. are slowly shifting gears over the next few months as “Decisions on further adjustments to the pace of net buying will be guided by the Governing Council’s ongoing assessment of the strength and sustainability of the recovery.

As a result, more of the same BoC may support the Canadian dollar as “The Bank now forecasts real GDP growth of 6 ½% in 2021, moderating to around 3 ¾% in 2022 and 3 ¼% in 2023, and the central bank can gradually adjust forward guidance in the second half of the year officials expect inflation to “return to 2% on a sustained basis in the second half of 2022. “

However, the Canadian dollar could face headwinds if the BoC reacts to the recent weakness in the labor market, and the USD / CAD could try to extend the rally since the start of the month if the central bank warns against a prolonged recovery.

That said, the BoC’s rate decision is likely to sway the short-term outlook for the USD / CAD as Governor Macklem and Co. begins to reduce emergency measures, and the Canadian dollar could continue to outperform its US counterpart if the central bank reveals less accommodating forward guidance for monetary policy.

— Written by David Song, Mint Strategist

Follow me on Twitter at @DavidJSong

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CANADA’S FX DEBT – Canadian dollar recovers weekly loss as investors ignore drop in jobs https://ardud.ro/canadas-fx-debt-canadian-dollar-recovers-weekly-loss-as-investors-ignore-drop-in-jobs/ https://ardud.ro/canadas-fx-debt-canadian-dollar-recovers-weekly-loss-as-investors-ignore-drop-in-jobs/#respond Fri, 04 Jun 2021 19:03:35 +0000 https://ardud.ro/canadas-fx-debt-canadian-dollar-recovers-weekly-loss-as-investors-ignore-drop-in-jobs/ (Add details on activity, update prices) * The Canadian dollar strengthens 0.3% against the greenback * The Canadian economy sheds 68,000 jobs in May * The price of US oil s’ sets up 1.2% * Canadian bond yields ease on flatter curve By Fergal Smith TORONTO, Jun 4 (Reuters) – The Canadian dollar strengthened against […]]]>


(Add details on activity, update prices) * The Canadian dollar strengthens 0.3% against the greenback * The Canadian economy sheds 68,000 jobs in May * The price of US oil s’ sets up 1.2% * Canadian bond yields ease on flatter curve By Fergal Smith TORONTO, Jun 4 (Reuters) – The Canadian dollar strengthened against its US counterpart on Friday as prices of the oil rose and investors weighed on jobs data in the US and Canada, with the currency recovering from its weakest intraday level in more than a week. The loonie was trading up 0.3% to 1.2075 against the greenback, or 82.82 cents US, having recovered from its lowest level since May 27 at 1.2133 earlier in the session. It is virtually unchanged for the week. Canada lost 68,000 jobs in May, a larger-than-expected drop, as closures imposed to curb a third wave of COVID-19 continued to weigh on the economy, according to Statistics Canada data. “Below the surface the number is a little better than it looks and overall the Canadian dollar will not be upset by a weak figure induced by the lockdown,” said Adam Button, chief analyst of currencies at ForexLive. The Canadian currency collapsed this year, supported by rising commodity prices and the more hawkish stance of the Bank of Canada. The central bank is due to make a decision on interest rates on Wednesday. Analysts have raised their outlook for the loonie as a proposed US infrastructure spending program boosts the outlook for the global economy, according to a Reuters poll. The price of oil, one of Canada’s top exports, rose 1.2% to $ 69.62 a barrel, as OPEC + supply discipline and picking up demand dampened concerns regarding the uneven deployment of COVID-19 vaccination around the world. The US dollar depreciated against a basket of major currencies after the US non-farm workforce increased less than expected, tempering expectations that the Federal Reserve will tighten monetary policy sooner rather than later. Canadian government bond yields were lower on a flatter curve, following the movement of US Treasuries. The 10-year fell 6 basis points to 1.460%, its lowest since May 26. (Report by Fergal Smith; edited by Jonathan Oatis)



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