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Category: Commodities
CFTC Rules-U.S. Commodity Futures Trading Commission
Washington, D.C. – The U.S. Commodity Futures Trading Commission (CFTC) today announced the publication in the Federal Register of final regulations concerning off-exchange retail foreign currency transactions. The rules implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Food, Conservation, and Energy Act of 2008, which, together, provide the CFTC with broad authority to register and regulate entities wishing to serve as counterparties to, or to intermediate, retail foreign exchange (forex) transactions.
US Dollar Drops to 15 Month Low
Whenever there has been a world crisis, it has been typical for foreigners to seek the safety of the US dollar. A common means to accomplish that has been to buy US Treasury debt. The typical example over the past couple of years is that the demand for US Treasury debt has increased at the various peaks of crises among the European Union nations such as Greece, Ireland, Spain, Portugal, and the like.
As a result of these surges in demand, the US Dollar Index, which reflects the value of the dollar against other currencies, tends to increase.
Gold Will Continue to Shine
The U.S. consumer price index rose 0.5% in February from the month before, pushed higher by food and energy costs. The price index for all items climbed 2.1% over the past year.
But many think government-reported inflation numbers don’t present an accurate price picture. Some economists estimate the true rate of inflation is closer to 8% or 9%. And those numbers could rise higher as the U.S. Federal Reserve continues to pump billions of dollars into the financial system.
Inflation, coupled with political turmoil in the Middle East, has pushed many investors out of stocks and into commodities. Gold rose to a record $1,445.70 an ounce on March 7. Market uncertainty from the Japan disaster pushed the metal down to $1,380.70 on March 15, but it gained again this week to hover around $1,400 an ounce.
Japan crisis puts world financial markets on edge
NEW YORK -Fears over the escalating nuclear crisis in Japan overtook financial markets around the globe Tuesday, pushing stocks and other investments lower. The Japanese stock market lost 10 percent of its value, and Wall Street dropped steeply before bouncing back.