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business and finance Rethink Robotics unveils new line of collaborative robots at IMTS By www.packagingstrategies.com Published On :: Tue, 10 Sep 2024 12:56:10 -0400 Rethink Robotics celebrates its comeback with a renewed company vision, aiming to serve the North American market with better, faster, and stronger products and solutions. Full Article
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business and finance Premier Tech’s New TOMA Product Line Marries Palletizing with Automation By www.packagingstrategies.com Published On :: Tue, 29 Oct 2024 11:21:26 -0400 The first product under the TOMA™ brand – and its underlying mindset – is a palletizing solution featuring the most advanced interface on the market, bringing together industrial robustness and user-friendliness with collaborative robotics. Full Article
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business and finance ClickBank RSS Feeds from ClickBank Analytics @ CBtrends.com By cbtrends.com Published On :: Full Article
business and finance 5 Tips for DMO Managers with More Questions Than Answers By destinationsinternational.org Published On :: Tue, 07 May 2024 18:30:19 +0000 5 Tips for DMO Managers with More Questions Than Answers jhammond@desti… Tue, 05/07/2024 - 18:30 Image Off Phil Bruno 5 min read May 7, 2024 New DMO Managers Agree on 5 Pain Points Your supervisor picked you for your position because you’re adaptable, committed, and creative. Still, you might wonder whether this job is for you. Managers I talked to at the PACE forum want help with five issues: The new DMO managers feel overwhelmed because they have too much to do. They need more guidance on how to keep members engaged and retain them. They worry about providing value to the community. New DMO managers are stressed about navigating their new roles. They want help with training and coaching teams. Treat ‘em Right helps managers solve these problems and more with coaching, group training, and online courses customized for individual DMOs. Your first call with us is free, so contact us if you are interested. Tip One: Prioritize and Delegate You thought you joined an industry that values rest, relaxation, and recreation, but you are working long hours! We get it. You feel overwhelmed by what seems like three jobs in one. It’s time to prioritize: Put your tasks in order based on 1) your deadlines and 2) which will have the most impact. Note: something due today is not necessarily more important than something due next week. Keep your goals in mind and prioritize what matters most. Delegate non-essential tasks to team members, empowering them to take ownership. Effective delegation will reduce your stress and foster collaboration on your team. If you’re not using project management software find one that works for you. Putting tasks in your computer will cut your stress because don’t have to try to remember 10 deadlines in your head. You might think you don’t have the money. One of the top project management software systems, Monday.com, has free subscriptions for one or two users. Other plans start at $20 a month. Tip Two: Make a Membership Plan You believe in your organization’s mission and want to help keep it strong. Retaining members is one of your top goals (and stressors). Yes, building and maintaining relationships with members is time-consuming. Realizing you cannot do everything at the same time, plan to meet who you can, and find other ways to connect with all your members regularly. That means planning. Check out The Center for Association Leadership’s Guide to Membership Strategy to see what is working for others. The guide includes questions to ask yourself: How are you engaging members and prospects who are in their 20s and 30s? Is your online membership platform easy to use? Does it solve members’problems? Are you fostering collaboration that benefits members? For example,DMOs offer visitor experience education to members’ employees and manyothers who interact with guests. Tip Three: Focus on the Visitor Experience The constant pressure to provide value can keep you up at night. Ease your pain by focusing on what matters most – the visitor experience. DMOs have become experts in visitor experience education (VXE) with help from Treat ‘em Right. We customize VXE based on the needs of your members. Examples of successful VXE programs include: Visit Manhattan, Kansas offers VXE to retailers, hotels, restaurants, attractions, and business community employers. Destination Niagara Falls USA engaged taxi and ride-share drivers, travelagencies, tour operators, and short-term rental owners in VXE. The Pennsylvania Convention Center trained its union labor contractors. We have received dozens of positive reviews on our VXE video series. We believe in video because people retain 95% of what they learn while watching a training video, compared to 10% of what they read. However, for some learners, our hybrid live sessions are best. It’s all about the learner. Tip Four: Connect with Others in the Industry In a 2023 survey, 40% of recent graduates said they had no training, onboarding, or support from their managers. If you are unsure of something, ask. Your manager should be clear about expectations on things like your work hours, deadlines, and what it will take to advance in your position. Other solutions for navigating new roles include: Connect with experienced managers in the industry. Attend workshops, conferences, and webinars to learn from others’ successes and failures. Look into Destinations International’s Young Professional Development Program and its 30 Under 30 program – a year-long networking and learning experience for emerging leaders. In an article on the DI website, a past 30 Under 30 participant says the program gave her purpose and a sense of belonging. “Having peers who share similar struggles and passions has been transformative,” Juliet Velasquez, manager of client relationships and insights, Tourism Economics. “Through them, I've gleaned insights into leadership, skill development, and discovering my true calling. Sign up to get notified when DI opens the next round of applications for 30 Under 30. Tip Five: Find a Coach Many DMOs do not have structured management training programs. That makes it more difficult for a new manager to learn their job. So, smart DMO executives invest in expert training, coaching, and consulting. Treat ‘em Right supports success with: Skill Enhancement: Training programs improve managers’ skills, from leadership to communication. Our offerings include custom workshops and online courses tailored to the needs of each DMO needs. We start with helping teams get to know each other by taking an Insight Inventory. Team Performance: Coaching helps managers motivate and guide their teams. Treat ‘em Right uses tools like the 5 Dysfunctions of a Team training to help new DMO managers become more productive and aligned with organizational goals. Strategic Planning: We work with DMO managers who want a Visitor Experience Strategy that supports the goals of their organization. With the right training, coaching, and consulting you will have the confidence to leadwith passion. Contact Phil at Treat ‘em Right or call 314-221-6037 to talk about getting the support you want. About The Author Phil Bruno Founder and President, Treat ‘em Right As the founder and President of Treat ‘em Right, Phil Bruno has served 43 years in the Tourism and Hospitality industry. Bruno works with DMOs to connect them with their Visitor Economy workers and communities through custom education programs both live and on-line. Treat ‘em Right programs have exceeded expectations in over 80 cities with 100,000 Certified Hospitality Professionals. Since 2005 Phil has been a member of Destinations International and DMAI speaking at events and serving on the Advocacy Committee, Community Relations Task Force and Visitor Services planning committee. Read More from Phil chevron_right More from this Author Industry Solutions Community Engagement Workforce Development Show Header? On Full Article
About The Author Phil Bruno Founder and President, Treat ‘em Right As the founder and President of Treat ‘em Right, Phil Bruno has served 43 years in the Tourism and Hospitality industry. Bruno works with DMOs to connect them with their Visitor Economy workers and communities through custom education programs both live and on-line. Treat ‘em Right programs have exceeded expectations in over 80 cities with 100,000 Certified Hospitality Professionals. Since 2005 Phil has been a member of Destinations International and DMAI speaking at events and serving on the Advocacy Committee, Community Relations Task Force and Visitor Services planning committee. Read More from Phil chevron_right More from this Author
business and finance What Destination Leaders Can Do to Engage Their Workforce By destinationsinternational.org Published On :: Fri, 21 Jun 2024 13:19:37 +0000 What Destination Leaders Can Do to Engage Their Workforce jhammond@desti… Fri, 06/21/2024 - 13:19 Image Off Workforce development is an issue facing just about every destination executive. Attracting, developing, retaining, and engaging a team is an incredibly fluid and complex puzzle destination executives are forced to solve every single day. Chad Kearns 7 min read June 21, 2024 What does an engaged workforce feel like? It feels like a team of people ready to rally around a shared mission they are deeply inspired by. Engaged workforces are willing to go above and beyond. They lean in, proactively looking for ways to contribute meaningfully. Engaged workforces show up to work every day, ready to bring their best to take care of the communities around them. What destination leader doesn’t want that? Unfortunately, fully engaged workforces are not as common in the destination industry as we’d like them to be. Destination executives are often left scratching their heads at how to get their team to buy in. Ready to engage your workforce? Start here: Harness the Power of Your Destination’s Purpose The purpose of a destination organization provides leadership with an inspiring mission to rally their team around. Destination organizations are powerful economic drivers. They have the power to bring positive change to the communities, cities, and regions they represent, and your workforce is likely to consist of team members with close, personal connections to the destination they represent. Destinations are naturally positioned to cultivate an inspiring organizational purpose, creating meaningful work for each and every one of their team members. “During the interview process, many candidates share that finding meaningful work is just as important as their compensation package,” shares Brook Kaufman, President & CEO of Visit Rapid City. “While there are times we can’t be competitive with the private sector on wages, the fact that our work does make a difference in our community is often the tipping point for someone accepting a position with us.” Harnessing the power of your destination’s purpose can be an incredible motivator to engage your workforce. Unfortunately, many destination leaders struggle to capture the power of their organization’s purpose. Leaders who clearly define their organization’s purpose, connect that purpose to the day-to-day work, and consistently communicate progress made can capture the full power of this engagement opportunity. “Employees want to know how their daily tasks help reach departmental and organizational goals. We can’t get from A to B without communicating where we’re headed and where each team member fits into the overall equation.” Key Recommendation for Leaders: Work to define your destination’s purpose. Then, connect the dots with organizational objectives, goals, and outcomes so that every team member understands how their contribution directly impacts the destination’s purpose. As leaders define an inspiring purpose and connect the day-to-day work to that purpose, workforce engagement grows. Compensate Fairly Let’s face it: compensation in the destination industry is an uphill battle for many executive leaders. It’s tough to compete with for-profit organizations when it comes to compensation, but destination leaders have to try to compete in this arena. Compensation is not just about salary and cash. Yes, salary and cash tend to make up an important part of what a destination can offer a member of its team, but total compensation can go far beyond that. Key Recommendation for Leaders: Execute regular compensation studies to get up-to-date compensation data for every role in your organization. Then, consider how to build a holistic compensation package, which enables leaders to assemble a competitive offering to attract and retain talent. Medical benefits, vacation time, flex time, remote work opportunities, wellness stipends, and professional development stipends are examples of how destinations are blending salaries and benefits to build competitive compensation packages. As leaders obtain accurate market data, advocate on behalf of their team to their board of directors, and build competitive compensation packages, workforce engagement grows. Establish Career Development Opportunities For many in the workforce, career development and opportunities for advancement are major motivators, driving engagement. Leaders can take advantage here on multiple fronts: first by developing their team members to fit the specific skill set their destination needs, and secondly, by engaging their team members to buy in as a byproduct of their career development and advancement. Key Recommendation for Leaders: Build your workforce by providing both internal support and external resources to foster cohesive career development. Internal support structures include mentorship programs, job shadowing, and clear career tracks. External support structures can look like stipends for class and conference attendance. As leaders are able to provide opportunities for their team members to develop and grow their careers, workforce engagement grows. Provide Clarity, Then Flexibility Work-life balance means a hundred different things to a hundred different people but here’s what most of your team really wants: autonomy to manage their work and their personal priorities. “Some employees value flexibility. Others value PTO or an organization that invests in their professional development. Delivering on what’s important to individual team members is a very effective way to keep people with you for the long term,” added Kaufman. Your workforce has priorities and goals outside of the professional work they do. That’s a good thing! And for leaders who can build destination organizations where team members can achieve both their professional and personal goals at the same time, your workforce will be more likely to engage and stick around for the long haul. Key Recommendation for Leaders: Provide clarity to each and every one of your team members about WHAT needs to get done, then give them the opportunity and autonomy to get it done HOW they need to. Define the key outcomes that must be driven for each role in your organization, work to build clarity around WHAT must happen. Then, worry less about HOW the outcome is reached. As leaders provide clarity and flexibility so team members can achieve their personal goals without sacrificing the productivity of the destination, workforce engagement grows. Show your Care Empathetic leaders build more engaged workforces. Leading with empathy should not prevent leaders from making difficult decisions, being steadfast in their beliefs, and driving the organization's needs forward. Leading with empathy connects leaders to their workforces, showing their care for the people around them and the impact that their decisions have on them. Unfortunately, it’s more likely than not that you have worked for a leader who you felt did not care about you. It’s demotivating, it causes team members to lean out, and it results in folks looking to depart your destination. Key Recommendation for Leaders: Find how you show your care for your team. It could be through consistent and meaningful 1:1 time. It could also look like taking the time to eat lunch with team members at all levels of the destination. Maybe displaying your care comes in your communication around difficult topics and decisions. Discover what works best for you, but be sure to find a way to make it known that your team members matter to you. As leaders are able to show their care, workforce engagement grows. Ask for Feedback Regularly Engaged team members feel like their voice matters and their thoughts, ideas, and concerns impact the trajectory of the destination they work for. Leaders should regularly request feedback from all levels and departments in their destination organization. When feedback is requested, it’s vital that leaders acknowledge it, share what was learned, and ultimately drive change from it. Key Recommendation for Leaders: Identify a variety of mediums and a variety of subject areas to request feedback on throughout the course of a year. Focus groups, surveys, and 1:1 meetings offer mediums to ask for feedback. Business operations, organizational culture, and personnel performance offer subject areas to get feedback on. Identifying opportunities to build feedback from your workforce into recurring organizational operations will not only provide leaders with an important data point to direct the path forward for the destination, but it will also build engagement throughout your workforce. Get Intentional to Drive Workforce Engagement Chalking up a lack of workforce engagement to generational differences is lazy. Doing so also removes leadership’s responsibility to make an active difference in how their team decides to lean in and engage or lean out and disengage. Frankly, your workforce's engagement reflects your organization’s health and development. Simply put, team members will choose to engage if they think it’s worth it. “Is driving engagement within your team hard work? Absolutely,” shared Kaufman. “But your organization will never reach its full potential without putting energy and resources into keeping employees satisfied.” Leaders have the opportunity to actively drive initiatives forward to engage their workforces. Those who do so intentionally and effectively have the opportunity to lead impactful teams that drive their organizations and the destinations they lead forward in incredibly meaningful ways. About The Author Chad Kearns Vice President & Lead Practitioner Fired Up! Culture Chad Kearns is a Vice President & Lead Practitioner at Fired Up! Culture. Chad partners with destination executives across North America to successfully work through powerful change management processes to create healthy, high-performance organizations. Areas of expertise include culture change, organizational values development, performance management philosophy and practice, operational efficiencies and enhancement programs, executive coaching, leadership development and succession planning. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Industry Solutions Workforce Development Partner Fired Up! Culture Show Header? On Full Article
About The Author Chad Kearns Vice President & Lead Practitioner Fired Up! Culture Chad Kearns is a Vice President & Lead Practitioner at Fired Up! Culture. Chad partners with destination executives across North America to successfully work through powerful change management processes to create healthy, high-performance organizations. Areas of expertise include culture change, organizational values development, performance management philosophy and practice, operational efficiencies and enhancement programs, executive coaching, leadership development and succession planning. chevron_right More from this Author
business and finance Building a Winning Team: The Volunteer Blueprint By destinationsinternational.org Published On :: Tue, 02 Jul 2024 17:59:23 +0000 Building a Winning Team: The Volunteer Blueprint jhammond@desti… Tue, 07/02/2024 - 17:59 Image Off Volunteers play a vital role in the tourism industry. Understanding successful strategies from global destinations can help your destination organization build sustainable volunteer cultures that enrich community engagement and event success, fostering positive change in tourism and beyond. Peyton Glover 5 min read July 2, 2024 In the dynamic tourism industry, the heartbeat of success often resonates from the dedication and passion of volunteers, who embody the spirit of community and service. Their commitment transforms events into unforgettable experiences, fostering engagement and a sense of community spirit. Yet, cultivating a sustainable volunteer culture poses challenges for destination organizations. This blog explores best practices in volunteer workforce development by drawing insights from global destinations that illustrate effective strategies in communication, recruitment, retention, and appreciation, all while aiming to enhance long-term success and sustainability. Building a Sustainable Volunteer Culture Effective communication is a cornerstone in volunteer workforce development, ensuring volunteers feel informed, valued, and connected to the organization's mission. In Malmö, Sweden, the kick-off event at Baltiska Hallen for the Eurovision Song Contest rehearsals exemplified this by inspiring 400 volunteers through communication pieces demonstrating the transformative power of cultural events for their community. This information allows volunteers to understand their importance in fostering community engagement and volunteerism. Destination Tips: Utilize communication pieces to highlight the organization's mission and volunteers' impact. Ensure the volunteers have a voice by providing surveys for feedback so that next year, the event can be enhanced. Clear and consistent communication can make volunteers feel more connected and appreciated, improving their engagement and commitment to the community. When building a volunteer culture, the Florida Sports Foundation highlights the importance of apprising, acclimating, and assigning volunteers according to their aptitude. They provide comprehensive information about their various events to ensure volunteers feel informed and confident. Regular meetings are held to help volunteers become comfortable with the staff and foster a sense of belonging, making them feel valued and more likely to return. The Florida Sports Foundation matches volunteers to roles that suit their skills and interests, enhancing their experience and effectiveness. By investing in these strategies, the Florida Sports Foundation ensures volunteers feel connected, appreciated, and integral to the event’s success. Destination Tips: Assigning posts where the volunteer feels they can excel in their skillset will make them feel confident in their abilities. Having procedures where the organization's staff can understand and get to know their volunteer base will showcase their commitment to valuing their volunteers and better assist in assigning posts. Personalizing training approaches will allow volunteers to feel prepared and connected to the organization's mission, enhancing their confidence and comfort and building a sustainable volunteer culture. The 2023 UCI Cycling World Championships in Glasgow and across Scotland offer an exemplary model of effective communication and volunteer engagement. This inaugural event brought together thirteen individual UCI Cycling World Championships, relying on 3,500 volunteers. The Volunteer Strategy employed for the Championships recognized volunteers' vital role and incorporated key learnings from previous events. A Volunteer Learning Portal provided access to various training programs, including an Equality, Diversity, and Inclusion module, which allowed volunteers to enhance their skills and understanding. Event Delivery Partners (EDPs) further supported inclusivity by briefing volunteers on inclusion and accessibility and offering specialized training sessions, such as Mental Health Awareness and Deaf Awareness. Enhancing Recruitment and Retention Personalized recruitment strategies tailored to individual interests and skills effectively attract and retain diverse volunteers. Destination Markham works diligently in community outreach strategies by forging partnerships with local educational institutions, businesses, and community groups, thus cultivating a robust volunteer network. Emphasizing the professional and personal development opportunities associated with volunteering fosters long-term engagement. A mentorship program and social events outside the volunteer event cultivate a sense of belonging and camaraderie among volunteers, contributing to overall satisfaction and retention. Destination Tips: Personalized recruitment efforts, such as targeted marketing campaigns showcasing the impact of volunteer work through videos and testimonials of past volunteers, can attract a broader demographic. Creating social media campaigns with specific hashtags can help recruit volunteers by reaching them based on their interests, ensuring a steady influx of passionate volunteers. Celebrating Volunteer Contributions Recognition and appreciation are fundamental in sustaining a robust volunteer base. Initiatives such as Volunteer Appreciation Weeks and special events publicly acknowledge volunteers' contributions, reinforcing their value to the organization and the broader community. The Mat-Su Convention and Visitors Bureau, which hosted the 2024 Arctic Winter Games, recruited and trained 2,000 volunteers over two years. The destination organization ensured these dedicated individuals were celebrated for their vital roles in the event's success, thus boosting morale and inspiring continued engagement. Visit Indy's approach emphasizes treating volunteers as valued team members. Comprehensive volunteer experiences include providing uniforms, materials, and even fanny packs as part of the volunteer uniform, ensuring that volunteers are well-prepared, valued and feel a part of the organization. Destination Tips: Recognizing the importance of appreciation, such as hosting thank-you events throughout the local community and volunteer appreciation posts across social media, ultimately improves the volunteer experience. Anything an organization can do to boost morale will reinforce the volunteers' commitment. Even a small personalized thank-you note will enhance the volunteer culture. Embracing Diversity and Inclusion At its core, workforce development through volunteerism thrives on inclusivity. Organizations enrich their volunteer programs by embracing diversity in backgrounds, perspectives, and abilities, fostering innovation and resilience. Snohomish County Sports Commission exemplifies this through its integrated approach to volunteerism. By leveraging strong ties with local schools, businesses, and community organizations, they offer accessible volunteer roles and ensure equitable opportunities, empowering individuals from all walks of life to contribute meaningfully to sporting events and community initiatives. Creating flexible and diverse volunteer opportunities that cater to different preferences and availability is essential for maintaining engagement. This can include short-term and long-term volunteer projects, accommodating volunteers' schedules, and creating roles catering to various interests and skills. The inclusivity efforts at the 2023 UCI Cycling World Championships showcased this. Volunteers from 73 nationalities and ages 16 to 82 further highlighted the event's commitment to inclusivity. Destination organizations can build robust volunteer programs that drive workforce development and enrich community life by implementing inclusive practices, celebrating contributions, and nurturing meaningful connections. Ensuring that your organization has effective communication in conveying volunteer impact along with the organization's mission will be essential in developing the workforce development for volunteers. Volunteers' need for personal and professional growth and social integration should be considered when designing volunteer programs. Volunteers' unwavering dedication to their community ensures events are transformative experiences that unite and inspire the community. As we look ahead, let us continue championing volunteerism as a powerful force for positive change in tourism and beyond. About the Author Peyton Glover email pglover@destinationsinternational.org Membership Engagement Coordinator Destinations International Born and raised in Nashville, Tennessee, Peyton Glover has cultivated a robust background in destination marketing and sports marketing since earning his bachelor’s degree from Middle Tennessee State University. Peyton is the Membership Engagement Coordinator, leading initiatives to enhance workforce development and community engagement. With a keen interest in sustainable travel and community enrichment, Peyton is dedicated to leveraging his skills and experience to foster impactful connections within the tourism and sports marketing sectors. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Workforce Development Show Header? On Full Article
About the Author Peyton Glover email pglover@destinationsinternational.org Membership Engagement Coordinator Destinations International Born and raised in Nashville, Tennessee, Peyton Glover has cultivated a robust background in destination marketing and sports marketing since earning his bachelor’s degree from Middle Tennessee State University. Peyton is the Membership Engagement Coordinator, leading initiatives to enhance workforce development and community engagement. With a keen interest in sustainable travel and community enrichment, Peyton is dedicated to leveraging his skills and experience to foster impactful connections within the tourism and sports marketing sectors. chevron_right More from this Author
business and finance Registration Now Open for Destinations International Fall 2024 Conferences: Advocacy Summit, Social Inclusion Summit and Business Operations Summit By destinationsinternational.org Published On :: Wed, 10 Jul 2024 18:22:25 +0000 Registration Now Open for Destinations International Fall 2024 Conferences: Advocacy Summit, Social Inclusion Summit and Business Operations Summit dbreisch@desti… Wed, 07/10/2024 - 18:22 Image Off Tim Smith 3 min read July 10, 2024 Registration Now Open for Destinations International Fall 2024 Conferences: Advocacy Summit, Social Inclusion Summit and Business Operations Summit Premier events offer essential knowledge and skills to help destination organizations lead with innovation and inclusivity Media Contact: Tim Smith tsmith@destinationsinternational.org1.425.577.4499 Washington, D.C., USA (July 10, 2024) – Destinations International (DI), the world’s leading resource for destination organizations, convention and visitors bureaus (CVBs), and tourism boards, has opened registration for its three remaining major events in 2024: the Advocacy Summit, which will take place in Rio Grande, Puerto Rico, from October 22-24; and the Social Inclusion Summit and Business Operations Summit, which both will take place in Spokane, Washington, October 28-30. Destinations International continues to provide training and development specially designed to help destination organizations anticipate transformation and thrive in a continually evolving environment. Each summit will look at current challenges and opportunities and offer the opportunity to explore, learn, and network among industry peers. Attendees will benefit from comprehensive sessions that address the most pressing issues facing the sector today, from enhancing stakeholder engagement and impactful advocacy, to advancing social inclusion, to embracing advancements in technology and innovation in business operations. “Destinations International is committed to providing our members with the essential information they need to help their organizations and communities thrive,” said Don Welsh, president and CEO of Destinations International. “Our outstanding fall summits focus on the most pressing and timely issues facing destination organizations today and offer an unprecedented opportunity to learn from experts and network with peers. I’m confident that attendees will leave each summit with new insights and actionable strategies to take back to their organizations.” Summit overviews: 2024 Advocacy Summit (Rio Grande, Puerto Rico – October 22-24, 2024) Under the theme “Advocate as Catalyst,” the summit will help destination organizations better serve as essential community assets promoting the local community as an attractive travel destination while also enhancing its public image as a dynamic place live and work. Through interactive discussions, case studies and practical exercises, attendees will develop skills, identify tools and gain knowledge to support powerful advocacy. This year, the event offers three immersive workshops to explore the rich Taíno heritage of Puerto Rico; survey the intersection of ecotourism and conservation against the unique backdrop of El Yunque National Forest, the only tropical rainforest in the U.S. National Forest System; and learn about the development of eco-cultural tourism attractions at Carabali Rainforest Adventure Park. (Click here for more information and to register) 2024 Social Inclusion Summit (Spokane, Washington – October 28-30, 2024)The summit offers a series of impactful sessions and immersive experiences designed to engage community partnerships and create a welcoming environment where people of all abilities and backgrounds feel welcome, valued and understood. Through a lens of accountability, attendees will learn actionable strategies to deepen community relationships and enhance workplace culture, ultimately creating welcoming experiences for visitors. Sessions include: Fostering Community Connections for Impact; Advocacy Strategies for Engaging Local Government; and Establishing Accountability in Social Inclusion. This summit is for leaders of all abilities and backgrounds who specialize in, or have an interest in, community engagement, human resources, culture development, marketing, and inclusion and belonging.(Click here for more information and to register) 2024 Business Operations Summit (Spokane, Washington – October 28-30, 2024)The Business Operations Summit is a cross-functional gathering of destination organization professionals in finance, human resources, operations and technology. This year’s summit will leverage the latest advancements in finance, digital platforms and talent management, offering valuable knowledge and practical solutions to help destination organization leaders navigate the complexities of modern business operations. Join us to explore how finance, technology, and HR can drive innovation and excellence in your organization.(Click here for more information and to register) Please check destinationsinternational.org for latest updates on these and all Destinations International events and information. ### About Destinations International Destinations International is the world’s largest and most trusted resource for destination organizations, convention and visitors bureaus (CVBs) and tourism boards. With more than 7,500 members and partners from over 750 destinations, the association represents a powerful forward-thinking and collaborative community around the world. For more information, visit www.destinationsinternational.org. Operations Human Resources Information Technology Finance Workforce Development Show Header? Off Full Article
business and finance Attracting Talent and Boosting Youth Engagement from Austin to LA By destinationsinternational.org Published On :: Wed, 24 Jul 2024 20:40:17 +0000 Attracting Talent and Boosting Youth Engagement from Austin to LA jhammond@desti… Wed, 07/24/2024 - 20:40 Image Off Despite the gains made since the onset of the pandemic, the hospitality industry continues to experience persistent labor shortages. Destination organizations have a chance to engage with the youth in their communities to help close this gap with best practices and strategies for attracting and retaining tomorrow’s tourism workforce. Stephanie Auslander 6 min read July 24, 2024 Key findings from Social Impact of Global Tourism by the World Travel & Tourism Council indicate that hospitality is a leading employer for young people around the globe, accounting for almost 60% of all youth employment in 2021 with 40% of those numbers represented by women. Despite continued recovery from the COVID-19 pandemic, there are staff shortages at hotels, restaurants, entertainment venues, theaters, convention centers, and tourism organizations. In relative terms, one in fifteen US job postings remains unfilled, and one in nine European Union jobs remains unfilled. This represents an estimated 412,000 tourism worker shortage. Further, despite the expansion of the Canadian labor market to pre-pandemic levels of 5.3%, Destination Canada reports in their 2023 Quarter-three snapshot that 116,000 positions remain unfilled, representing 6.2% of all the tourism sector. SourceSeveral factors fueling the labor shortage in the US include a decrease in international migration patterns as it relates to the US labor market, working conditions, and a lack of adequate skillsets to perform several jobs within hospitality. Thus, a variety of policy changes and engagement strategies can help destination organizations fill the gap and address these concerns. Addressing staff shortages within the sector requires a multi-stakeholder collaborative approach to developing a skilled tourism workforce, providing competitive employee benefits, and partnering with academia to help equip tomorrow’s workforce with new and improved skills to operate within the industry. A recent article by Forbes suggests that one of the greatest currencies of our time is not gold, oil, or knowledge but rather talent acquisition. When discussing strategies like youth engagement and workforce development, it's important to be mindful of cultural differences and adapt the approaches accordingly. Be sure to acknowledge the diverse cultural contexts in which these strategies will be implemented and adapt according to the needs of your destination. Los Angeles Tourism & Convention Board At the Mobile World Congress in 2021, the Los Angeles Tourism & Convention Board launched its own Career Academy with the goal of increasing equity in career representation by inspiring the youth of historically underserved communities to consider diverse career paths. This initiative was brought on in response to the call of Los Angeles council leaders’ executive directive to help increase recognition of systemically marginalized groups. For the event itself, a dozen high school students from the Ambassador School of Global Leadership attended the inaugural program led by Mayor Eric Garcetti. Each student received a tour of the exhibition hall, met with executive leaders to learn about career opportunities, fostered meaningful connections, and learned about future career day opportunities available within the industry. Over 4,100 people attended the convention, 65% of whom were senior executives. Moreover, Los Angeles’s Career Academy bridges the connections between students and meeting planners looking to authentically impact Los Angeles. In turn, students learn equity, diversity, and inclusion best practices in aligning corporate social responsibility. While the convention was not hospitality-focused, the bureau brought students together with senior-level executives at technology companies, and this can make the connection between other sectors and hospitality. The academy highlights the connection between youth engagement in choosing career paths and where they see themselves represented. Since one of the greatest strengths of Los Angeles is its diversity, programs like this are essential to helping close the workforce gap and helping to address racial inequalities that exist due to a lack of representation. Los Angeles Career Academy (Full-Length) Los Angeles Career Academy (Full-Length) “Our career Academy connects high school students from La USD to unique experiences at the LA Convention Center. Where they can learn about careers and opportunities. Directly from inspirational industry leaders and gain a practical understanding of the steps that other people took to reach their career goals and overcome challenges.” - Los Angeles Mayor Karen Bass Visit Austin Foundation Founded in 2019, the mission of the Visit Austin Foundation (VAF) is to develop and promote education, job training, and career opportunities within the hospitality and tourism sector. The foundation has several key objectives in helping to close the labor shortage gap and increase engagement--particularly with the youth. By offering mentorships and scholarships, the foundation hopes to attract young people to the tourism and hospitality industry, and to educate the public about a wide range of career opportunities within the industry, as well as its economic and social benefits. One way the VAF has contributed to engaging the younger demographic in a career in hospitality and tourism is by developing hospitality industry learning platforms in conjunction with secondary school systems to promote awareness of the industry as a viable career path and prepare students for careers in hospitality. The VAF, in conjunction with the Austin Hotel & Lodging Association, Austin Independent School District, and Austin Community College sponsors and supports a Hospitality, Tourism & Culinary PTECH High School at Travis Early College High School. This program provides participants the opportunity to earn a high school diploma, an associate degree, and on-the-job training & mentorships while in high school, all at no cost to the student. This allows students to graduate early and prepare for a dynamic career. Additionally, the foundation has provided resources for providing careers in hospitality including the Austin Tourism Insider Hospitality Training Program. The training program is intended to support the community’s tourism and hospitality employees, including new hires, and residents who are passionate about Austin and hospitality. Through a one-day course, employees learn expert knowledge about Austin’s tourism assets, improve their confidence in making recommendations that help to elevate the visitor experience, ignite their passion for the industry, and build a deeper sense of connection within the community. Furthermore, the VAF helps to support networking opportunities to connect hospitality professionals with their peers in the local industry. The VAF’s Heart of Hospitality Award & Scholarship is dedicated to supporting local hospitality employees who are pursuing tourism-related education and are interested in growing their careers within the industry. Criteria for selection include hospitality employees who provide outstanding customer service, demonstrate a positive attitude, and display initiative in going beyond regular job responsibilities to enhance the visitor experience. Scholarships provide pathways for continued education in fields related to the hospitality industry, including organizational leadership, hospitality management, Certified Meeting Planner (CMP) certifications and more. There are a range of opportunities available for destination organizations that seek to increase workforce engagement. Organizations can partner with academic institutions to help develop tomorrow’s leaders by creating career youth engagement opportunities and raising awareness about the industry’s various career paths. As the industry continues to shake off setbacks caused by the pandemic, destination organizations can find innovative solutions to advance the industry by developing needed skill sets and providing a warm welcome to help others to feel seen and heard. About The Author Stephanie Auslander email sauslander@destinationsinternational.org Advocacy and Data Coordinator Destinations International Stephanie is a recent graduate of Johnson & Wales University with a Master’s Degree in Global Tourism and Sustainable Economic Development. Previously, she worked as an Intern with Solimar International assisting Destination Marketing Organizations in formulating Tourism Development strategies for the Samtskhe–Javakheti region in Republic Of Georgia and the Sisian region of Armenia. Additionally, she is the author of a Tourism Research Proposal detailing ways in which Destinations can promote the concept of Sustainability to its consumers for a lasting positive impact. With a background in Tourism Development she is confident in her ability to help Destinations innovate into the future. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Workforce Development Show Header? On Full Article
About The Author Stephanie Auslander email sauslander@destinationsinternational.org Advocacy and Data Coordinator Destinations International Stephanie is a recent graduate of Johnson & Wales University with a Master’s Degree in Global Tourism and Sustainable Economic Development. Previously, she worked as an Intern with Solimar International assisting Destination Marketing Organizations in formulating Tourism Development strategies for the Samtskhe–Javakheti region in Republic Of Georgia and the Sisian region of Armenia. Additionally, she is the author of a Tourism Research Proposal detailing ways in which Destinations can promote the concept of Sustainability to its consumers for a lasting positive impact. With a background in Tourism Development she is confident in her ability to help Destinations innovate into the future. chevron_right More from this Author
business and finance Cultivating Our Future: Student Shadow Program Fuels Industry Interest By destinationsinternational.org Published On :: Tue, 30 Jul 2024 18:28:14 +0000 Cultivating Our Future: Student Shadow Program Fuels Industry Interest jhammond@desti… Tue, 07/30/2024 - 18:28 Image Off Despite the workforce development obstacles we face, the tourism industry offers countless professional opportunities for future generations. Destination organizations can work with local community partners to create meaningful engagement with underrepresented youth, increase industry awareness, and foster inclusion. This article highlights the experiences of three high school students with the NAACP Hillsborough County Chapter who shadowed industry professionals at Destinations International’s 2024 Annual Convention in Tampa. It serves as inspiration for destinations to embrace similar initiatives to drive workforce development and diversification. Ava Wells 7 min read July 30, 2024 For so many of us in the tourism industry, the question “how did you get started” is often followed by a smile, a laugh, and a realization that it happened unintentionally. While some may have formally studied hospitality, most industry professionals find themselves in destination organizations through traditional channels like hotels or convention centers. Despite where we began or where our paths have led us, we share a deep passion for our work. Last week at Destinations International’s 2024 Annual Convention in Tampa, it was hard not to hear the words “I love this industry!” passing from person to person, like the catchy chorus to a chart-topping summer hit. Yet, we realize talent attraction and retention are two enormous challenges our industry faces. A recent study on emerging leaders published by FiredUp! Culture and SearchWide Global found that 48% of 358 30 Under 30 honorees no longer work for a destination organization. Of those still employed by destination organizations, 27% indicate they will not be working for their organizations in three years’ time. Meanwhile, Destinations International’s 2023 Social Inclusion Study on Destination Organizations found that while 73% of over 450 employees want to see more diversity in their organizations, the reality is from it. It’s no surprise then, that eight sessions at Destinations International’s 2024 Annual Convention addressed challenges and insights surrounding workforce development and diversification. These conversations served as a springboard to educate and inspire the nearly 2,000 industry leaders in attendance. From talent development to upward mobility, to pay equity and beyond, opportunities are abundant. And while much of this work will be long-term, creative solutions may be closer to home – and easier to implement - than we think. Community Partnerships Build Career Paths Destinations International’s Social Inclusion framework encourages destinations to engage with their communities. By fostering trust and working together to eliminate barriers to inclusion, destination organizations and their stakeholders can create thriving and welcoming environments that lead to economic growth. Through this lens, talent attraction and retention can be addressed by engaging with our communities. When destinations establish a trusted presence, they can highlight the importance of this industry and create career pathways for residents of all backgrounds and abilities. The 2024 Annual Convention served as a tangible and inspiring opportunity for Visit Tampa Bay (VTB) and the NAACP Hillsborough County Chapter. Through an existing strong relationship, VTB’s Chief Operating Officer, JoLynn Lokey and Hillsborough County Chapter President, Yvette Lewis connected with DI’s Sophia Hyder Hock to explore arrangements during the July event. Lewis welcomed the idea of bringing three high school students onsite, providing them with the opportunity to gain exposure to the industry. She appointed three rising seniors, Malachi Brown, Kaejah Evans, and Taleah Scott, to attend the Annual Convention. Each student was given a curated schedule based on their interests to shadow industry leaders, attend educational sessions, and expand their professional network. In two jam-packed days, Malachi, Kaejah, and Taleah explored the breadth of our industry, through marketing and creative lenses, event management, and technology. Their experiences were overwhelmingly positive: the students realized that tourism offers promising, professional career paths and above all is a welcoming, inclusive sector. In Their Own Words Malachi Brown, Middleton High School "To start I just wanted to say thank you for even thinking about exposing high school students to this industry, it was not on my radar at all but now I can seriously see a future in this space. My first thought about the travel and tourism industry was a whole bunch of timeshares and hotel managers. Being at Destinations International showed me that there is an entire ecosystem of business that is behind the scenes. Whatever internship, schooling, or even career I will pursue can be translated to the travel and tourism industry, from sales, marketing, data analytics, and more can all be done here and that has truly inspired me. The main highlights were interacting with so many people that were genuinely interested in making sure I was welcomed and comfortable. Connecting with all these amazing professionals not only expanded my network but expanded my horizons by learning and listening to everyone’s insights. Special shout out to the team at Soliman Productions and Paradise Advertising & Marketing for letting a brother tag along for a couple of days.” - Malachi Brown Kaejah Evans, Blake High School "Destinations International’s Annual Convention was one of the best experiences I could’ve been a part of. I’m truly grateful to have been a part of the convention and met such amazing people from such diverse backgrounds. Before attending the convention, I had a very small amount of information and interest in the world of travel and tourism. After meeting so many people that are a part of this company showed me an even bigger and more in-depth understanding of how great working in this level of hospitality can benefit someone. I’ve learned about some programs and have been introduced to several internships that I’d enjoy taking part in once I graduate.” - Kaejah Evans Taleah Scott, Sumner High School "I truly enjoyed my time interacting with people who are passionate about their careers. The main highlight of my time at Destination International's Convention was attending the breakout sessions of my interest. Not only did it make me feel in control of the steps I'm taking toward my future, but it also exposed me to different aspects of the travel and tourism industry. I originally had no connection to the field, so I wasn't sure what to expect. To my surprise, the travel and tourism industry makes great efforts to follow sustainable practices and be mindful of the communities they're affecting. They also created a space to discuss products that improve accessibility for some users. This made me feel more connected to the experience because it showcased purpose in the work being done here. Another highlight was getting to see people in their element. The travel and tourism industry has so many wonderful facets and the people exude a passion for their positions I haven't seen in most places of work. This experience taught me you can work hard and enjoy life. Not a single person I encountered seemed unhappy to be there. This inspired me to take charge and work hard now so I can set myself up for my future. I plan to get more acquainted with networking (as was suggested by one of the amazing women I was shadowing) so I can pursue a career in cybersecurity. I also now have an interest in taking part in internships to improve my academic and experiential arsenal.” - Taleah Scott A Promising Path Forward The experiences of Malachi, Kaejah, and Taleah underscore a crucial truth: our industry shines when we invest in the next generation and pursue a sense of belonging. By engaging local students and providing them with hands-on industry exposure, we can inspire and cultivate future tourism professionals. In turn, we can make strides in overcoming talent attraction and retention obstacles. The 2024 DI Annual Convention shadow experience is just the beginning for Visit Tampa Bay and the NAACP Hillsborough County Chapter. Together, these organizations will continue to collaborate and provide students with education and mentorship. Their partnership reinforces the importance of building strong relationships between destination organizations and their communities. This shadowing initiative sets a powerful example for other destination organizations to follow. We encourage all industry leaders to consider how they can implement similar programs in their own communities. Start by reaching out to local schools, organizations, or industry partners to explore collaborative opportunities. Share your successes and learn from others. Together, we can break down barriers, enhance educational opportunities, and mentor young talent. Together, we can build a resilient, innovative, and inclusive industry that thrives on the collective strength of its people. As we reflect on the success of this first shadow program, let us be reminded of the words that echoed throughout the 2024 DI Annual Convention: “I love this industry.” It is through our passion and commitment to inclusion that we will shape a bright future for the tourism industry and the communities we serve. About the Author Ava Wells email awells@destinationsinternational.org Social Inclusion Manager Destinations International Ava Wells is the Social Inclusion Manager at Destinations International, working under the guidance of Chief Inclusion Officer, Sophia Hyder Hock. In this role, Ava spearheads the development and implementation of strategies that further the organization’s social inclusion goals. She expertly manages programs and fosters stakeholder engagement to enhance DI’s impact in this vital area. With a rich background spanning over a decade in member and partner engagement, Ava possesses deep expertise in harnessing insights and building robust relationships to drive strategic transformations. Her experience includes seven years in the tech sector, where she focused on advancing workplace inclusion, equity, diversity, and enhancing employee engagement initiatives. Ava’s professional journey began in the travel and tourism industry, where she spent three enriching years at the Nashville Convention & Visitors Corporation. She is excited about her return to this dynamic field, particularly driven by her passion for regenerative tourism, cultural vitality, and generating positive community impact. A champion of collaboration and innovation, Ava values curiosity and the power of connection. Originally from Boston, she has embraced life in Montreal since 2018 with her Canadian spouse. In her leisure time, Ava enjoys cooking, running, and reading. She speaks French and maintains an active and travel-filled lifestyle. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Social Inclusion Workforce Development Show Header? On Full Article
About the Author Ava Wells email awells@destinationsinternational.org Social Inclusion Manager Destinations International Ava Wells is the Social Inclusion Manager at Destinations International, working under the guidance of Chief Inclusion Officer, Sophia Hyder Hock. In this role, Ava spearheads the development and implementation of strategies that further the organization’s social inclusion goals. She expertly manages programs and fosters stakeholder engagement to enhance DI’s impact in this vital area. With a rich background spanning over a decade in member and partner engagement, Ava possesses deep expertise in harnessing insights and building robust relationships to drive strategic transformations. Her experience includes seven years in the tech sector, where she focused on advancing workplace inclusion, equity, diversity, and enhancing employee engagement initiatives. Ava’s professional journey began in the travel and tourism industry, where she spent three enriching years at the Nashville Convention & Visitors Corporation. She is excited about her return to this dynamic field, particularly driven by her passion for regenerative tourism, cultural vitality, and generating positive community impact. A champion of collaboration and innovation, Ava values curiosity and the power of connection. Originally from Boston, she has embraced life in Montreal since 2018 with her Canadian spouse. In her leisure time, Ava enjoys cooking, running, and reading. She speaks French and maintains an active and travel-filled lifestyle. chevron_right More from this Author
business and finance A Perfect Collab: DMOs x Higher Education By destinationsinternational.org Published On :: Fri, 02 Aug 2024 15:50:48 +0000 A Perfect Collab: DMOs x Higher Education jhammond@desti… Fri, 08/02/2024 - 15:50 Image Off Workforce development is critical to the future of DMOs as we advocate for tourism investment and share the industry’s benefits across communities. Higher education institutions can become strategic partners in workforce development, research, and community engagement strategies. Bryan Lavin, DBA 6 min read August 2, 2024 Destination Marketing might be the biggest humblebrag in the Hospitality Industry. DMOs are doing amazing things to connect our communities, expand the benefits of tourism, drive the economy, and create authentic experiences in the humblest way possible. That sense of selflessness and passion for creating better destinations is what makes this industry so incredible. Anyone who has even caught a glimpse of the recent Annual Convention would see how incredibly cool it is to be part of a DMO. The stories of the impact that we are making in our communities should be shouted from the mountaintops! Interestingly, though, Tourism and Hospitality Management – where the power of a DMO is taught at the college level - is currently ranked as the 61st most popular major for students in the United States. Enrollment in collegiate hospitality management programs has seen a significant decline in the past ten years due to a lack of knowledge about our industry and the ability to tell our story about the impact we make every day. Recently, HSMAI surveyed hospitality school deans and program directors and found that potential students perceive the field to be centered on hotels and F&B outlets with unstable career paths and positions that require long hours, low pay, and limited work-life balance. Further compounding the issue, the study revealed a lack of qualified faculty, limited connections to industry practitioners, and a lack of program support from ancillary departments like admissions and marketing. In other words, we need to do a better job telling the story of DMOs' impact on attracting new talent into the industry. I have the opportunity to regularly participate in student recruitment efforts at my institution, where I meet with college-bound families or visit high school programs, and the most common question I get is, “What are the jobs in tourism?” While I have become quite adept at pitching non-linear career paths, I try to counter this question by asking the students what they want in a job. Aside from making money, I hear students seek meaning in their work. Our industry can provide exactly that and help to reshape the narrative around Tourism and Hospitality Management as a field of study. While thoroughly pitching the pillars of sustainable tourism to a high school student in 30 seconds might be a stretch, students gravitate towards concepts like community development, place branding, cultural preservation, and supporting locals. Sustainability is already on their minds, and we have an amazing opportunity to show students how they can translate their way of thinking into a remarkable career path. I’m hopeful that the incredible advocacy case studies discussed at the Annual Convention are only the tip of the iceberg and will inspire more students to find the meaning, satisfaction, and enjoyment that our industry offers. With DMOs focusing more on community engagement and higher education and looking for more robust connection opportunities, there is the potential for incredible collaborations between organizations. With all the themes of this year’s Annual Convention in mind, here are four ways that I’ll be leveling up my curriculum this fall and how you can collaborate: Embracing AI Jason Swick, VP of Strategy & Insights from Simpleview, led off his presentation with a statistic that 66% of employers in our industry are now looking for AI skills on resumes. A common refrain throughout the week is that AI won’t replace jobs, but people who know how to use it will. By folding some AI basics into our tourism marketing courses, like prompt engineering, personalization of GPTs, and AI organization strategies, we can introduce the next generation of leaders to this technology so they can take it and run with it. This realm provides a variety of case study-based projects where DMO’s could partner with students to begin their AI journeys together. Igniting Community Pride We offer several modules in our program that explore the concepts of community-shared values and place branding frameworks, and, in theory, they work great. This fall, I’ll be pushing students to move these concepts further to develop strategies that engage the community and showcase the benefits of tourism. The Little Adventures program from Destin Fort Walton Beach, Florida, along with St. Peterburg’s “From Visitors with Love” campaign, are just two of many examples from the convention that make for impactful case studies connecting theory to practice. Leveraging local colleges to develop and deploy similar projects is a great way to support these valuable efforts that may not directly drive revenue. Long-Term Strategic Planning Inspired by the planning process discussed by Minneapolis, Japan, and Richmond, Canada, there is a need to better prepare students for thinking in the long term. Looking at the DNEXT trend data along with the pillars of community engagement, visitor engagement, partner support, and destination development, students can develop mock strategic plans that span 5-10 years for a destination. This type of exercise is a great way to develop a strategic mindset and raise the level of education students are receiving. Looking to higher education institutions as hubs of innovation could create alignment with strategic plans while engaging the student population. Data-Driven Decision-making As in all industries, understanding how to collect and interpret data is critical to decision-making. By connecting students to industry-developed survey instruments and data collection and analysis technologies, they can bridge the gap in understanding how DMOs drive community alignment, economic development, and brand strategies. Use college programs to help fuel research. Academics love qualitative and quantitative studies – there is excellent potential for collaboration on community perception studies to advance advocacy efforts. Our industry is incredibly cool. As we think about workforce development and building a strong pipeline of talent to carry the torch of progress in the DMO space, collaboration with Colleges and Universities is a prime opportunity to explore. These institutions are full of eager students looking to make a difference in their careers, and DMO’s are a perfect place to do it. What better way to learn by doing than collaborating with a DMO to make the destination a better place for all. I encourage you all to reach out to your local institutions to find ways to engage students in your mission. By inspiring students with the tremendous work being done at DMOs across the world, we can redefine what earning a degree in Tourism and Hospitality Management means and inspire the next generation to make a difference in their communities through the power of tourism. About the Author Bryan Lavin, DBA Professor, Johnson and Wales University College of Hospitality Management Bryan Lavin has been a member of the JWU Faculty for eight years. He teaches in the Department for International Travel and Tourism Studies at the College of Hospitality Management. Bryan’s area of expertise is destination marketing and sales, community development, and sustainable tourism planning. In addition to his scholarly pursuits in the field of tourism, Bryan also serves as the college’s brand manager. He is responsible for the management and execution of an integrated plan to position hospitality management as a dynamic and experiential discipline. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Workforce Development Show Header? On Full Article
About the Author Bryan Lavin, DBA Professor, Johnson and Wales University College of Hospitality Management Bryan Lavin has been a member of the JWU Faculty for eight years. He teaches in the Department for International Travel and Tourism Studies at the College of Hospitality Management. Bryan’s area of expertise is destination marketing and sales, community development, and sustainable tourism planning. In addition to his scholarly pursuits in the field of tourism, Bryan also serves as the college’s brand manager. He is responsible for the management and execution of an integrated plan to position hospitality management as a dynamic and experiential discipline. chevron_right More from this Author
business and finance From Campus to Career: The Critical Importance of Experiential Learning in Workforce Preparation By destinationsinternational.org Published On :: Tue, 24 Sep 2024 16:52:48 +0000 From Campus to Career: The Critical Importance of Experiential Learning in Workforce Preparation jhammond@desti… Tue, 09/24/2024 - 16:52 Image Off From the lens of a student, workforce development in tourism relies on mentorship, internships, and real-world experiences. Engaging students early through meaningful industry connections prepares them to contribute actively, building confidence and shaping the future of the travel and tourism workforce. Payten Slack 4 min read September 24, 2024 Industry Events Spark Career Vision for Students Attending Destinations International’s Annual Convention for the first time in Tampa, Florida earlier this summer was both exciting and, to be honest, a bit intimidating. As a student stepping into a room filled with industry leaders and professionals, I couldn’t help but feel a sense of awe, and nerves. These were individuals who had already solidified their careers, shaping the future of destinations and tourism, while I was just beginning to imagine where my path might lead. Despite the initial butterflies, the more I interacted with these professionals, the more I realized they weren’t just leaders in the industry - they were also mentors and advocates for the next generation. They were eager to share insights, listen to fresh perspectives, and offer advice. Days after the convention ended, I found myself reflecting on those conversations, replaying sessions in my mind, and seeing my future more clearly than ever. As the days passed, I felt a bittersweet sense of closure because while the convention was over, I had a newfound excitement for what was to come. I kept thinking about my potential career, revisiting the ideas and discussions I’d experienced. These interactions shifted my mindset - I no longer felt like just a student. Watching the next class of 30 under 30, I could imagine myself on that stage one day, contributing to the industry. This realization boosted my confidence and solidified my commitment to pursuing a meaningful role in tourism. Experience Enables Students to Shape and Commit to the Industry's Future My experience at the Annual Convention was just one chapter in my broader journey with Destinations International. As a Professional Development intern, I’ve been involved in developing certificate programs, attending meetings with industry leaders, and contributing to event planning and content creation. These hands-on experiences have connected my course work to the real world, making my learning more authentic and relevant. As I partake in this work, I am gaining confidence, not just in my current role, but also in how my skills align with the future of the industry. As more students like me combine work with academic study, we begin to understand how our contributions can drive industry trends, innovations, and solutions. This balanced approach of connecting practical experience with academics produces well-rounded professionals who are ready to enter the field and also to shape its future. The travel and tourism industry thrives on adaptability and fresh ideas. Engaging students early ensures the next generation is prepared to embrace changes and push the industry forward. Internships and immersive learning are essential in developing professionals who are confident in their ability to lead in a rapidly evolving industry. A Student’s Insights on Building the Next-Generation Workforce From my perspective, building the future workforce is more than just filling roles - it’s about creating opportunities that allow students to fully involve themselves in the industry. DMOs and other industry leaders should focus on establishing personal connections through internships, shadowing, and professional development programs. These experiences create a sense of belonging and purpose, showing students how our work is actually valued. Workforce development isn’t just a marketing campaign - it’s about creating genuine, lasting relationships that inspire growth and passion. Mentorship is a crucial element in building a successful workforce. Passing on knowledge is important, but sharing enthusiasm for the industry is just as impactful. When mentors invest in students, they don’t just develop our skills - they also create a sense of pride and purpose in our work. Simple engagements, like inviting students to industry events or allowing them to shadow professionals, can make a significant impact. These moments of inclusion provide insight into the industry and help us build connections with professionals who can guide and inspire us. All in all, creating an environment where students feel valued and invested in is key to shaping the workforce of the future. Both students and industry professionals must be committed to this process. When students feel respected as contributors, we become more confident and motivated to shape our paths within the industry. The more engaged we are, the more we envision ourselves as future leaders, driving the travel and tourism landscape for years to come. As we work toward building the next generation of tourism professionals, I encourage destination leaders to consider how they can actively support their growth. One impactful way is by sponsoring local students to take part in Destinations International’s upcoming Business Intelligence Certificate program. With courses in Sales, Services, and Marketing and Communications, this program will provide emerging professionals with key skills in business events, such as decision-making, risk mitigation, and strategic planning. By investing in future leaders now with opportunities in professional development, such as the Business Intelligence Certificate, you’re ensuring they have the necessary tools to contribute to this growing and thriving industry. About the Author Payten Slack Professional Development Intern Destinations International Payten Slack is a first-generation college student from Orlando, Florida, and a junior at NYU’s School of Professional Studies, majoring in Hospitality, Travel, and Tourism Management with a concentration in Travel and Tourism Development. She is an active member of her school’s community and puts an emphasis on ensuring students are being well-represented on a university-wide level. Payten has gained hands-on experience through her role as a Professional Development intern at Destinations International and is committed to merging academic knowledge with real-world applications to better prepare the future workforce. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Workforce Development Show Header? On Full Article
About the Author Payten Slack Professional Development Intern Destinations International Payten Slack is a first-generation college student from Orlando, Florida, and a junior at NYU’s School of Professional Studies, majoring in Hospitality, Travel, and Tourism Management with a concentration in Travel and Tourism Development. She is an active member of her school’s community and puts an emphasis on ensuring students are being well-represented on a university-wide level. Payten has gained hands-on experience through her role as a Professional Development intern at Destinations International and is committed to merging academic knowledge with real-world applications to better prepare the future workforce. chevron_right More from this Author
business and finance Filling The Labour Gaps The Key To A Thriving Tourism Industry In Canada By destinationsinternational.org Published On :: Wed, 30 Oct 2024 15:35:42 +0000 Filling The Labour Gaps The Key To A Thriving Tourism Industry In Canada jhammond@desti… Wed, 10/30/2024 - 15:35 Image Off At a time when Canadian youth, newcomers, and members of underrepresented communities face record levels of unemployment, our sector is presented with a unique opportunity. We have a chance to transform our workforce, improve the quality of life of every Canadian, and make a positive impact that goes beyond an economic contribution. We must promote the rewarding and long-term career paths the tourism sector provides to attract and retain the next generation of Canada’s talented workforce. Nik Mills 4 min read October 30, 2024 Tourism is, at its core, about people. It’s powered by the connections we make, the stories we share, and the experiences we create together. From the dedicated hospitality workers who welcome travellers with warmth, to the local artisans and guides who bring our culture to life, it’s the people behind the scenes who truly make tourism thrive. Every journey is enriched by the unique contributions of individuals who are passionate about showcasing their communities and welcoming visitors from around the world. Employment in the tourism sector remains lower than it was before the pandemic. According to the most recent annual data, employment levels for several advanced career positions in tourism and hospitality are dramatically lower than in 2019. Air traffic controllers are down 33 per cent, executive housekeepers and hospitality workers are down 31 per cent, and for conference and event planners, employment is down 19 per cent. At a time when Canadian youth, newcomers, and members of underrepresented communities face record levels of unemployment, our sector is presented with a unique opportunity. We have a chance to transform our workforce, improve the quality of life of every Canadian, and make a positive impact that goes beyond an economic contribution. We must promote the rewarding and long-term career paths the tourism sector provides to attract and retain the next generation of Canada’s talented workforce. As an industry, we must plug the gaps that hamper productivity and threaten to damage Canada’s reputation as a tourism destination. Strategic public investment is required to promote tourism as a vocation and enhance its labour force with talent. This is best achieved through meaningful partnerships—not only within our sector but with the federal government. These partnerships will be the cornerstone of our industry’s success. To this end, TIAC is working with Restaurants Canada, the Hotel Association of Canada, and Tourism HR Canada to call on the federal government to fund a national marketing campaign through a three-year, $5-million investment. This campaign promotes tourism as a career among young Canadians. It builds on the work that THRC has initiated with its Discover Tourism program, which provides valuable career planning, curriculum, and HR tools to job seekers, employers, and educators. The logic underpinning this program presupposes that today’s youth are unaware of the career possibilities the tourism industry presents and the satisfaction that comes from showcasing Canada to its visitors. Nascent workers, read about the Discover Tourism program and take advantage of the resources available to you. Careers in tourism are varied and fulfilling; your perusal of these programs could lead you to your dream job. While we build our future workforce, we must leverage existing industry supports and government programs such as THRC’s Ready to Work program, which helps businesses recruit job seekers and integrate newcomers into a career in tourism. Its internships—a composite of in-class education and workplace training—facilitate job-readiness and career planning. Over the years, it has provided under-represented communities with career options and growth opportunities in the tourism sector by providing them access to certification programs (e.g., WHMIS, CPR, responsible alcohol service) that will open up new pathways in their pursuit of employment. The Economic Mobility Pathways Pilot is an express-entry program that pairs employers with skilled newcomers, asylum seekers, and refugees to Canada. Such opportunities enable these individuals to flourish and ensure their new lives an auspicious start. It also makes available to employers qualified candidates whose background and education could provide unique skillsets and perspectives. Even without a firm job offer, talented refugees may nevertheless gain entry into Canada and begin their new life, with employment opportunities coming as they settle into the country. Tourism operators suffering from the labour gap are encouraged to take advantage of this program that is mutually beneficial for themselves and those skilled workers who hope to call Canada home. As global demand for tourism rises, Canada must remain a top-tier destination. To do so, the fundamental needs of the sector must be met for it to thrive in the years ahead. By investing in our people and forging strong and reliable partnerships, we can ensure that Canada’s tourism industry does not just survive, but truly flourishes. Together, we can build a future that benefits our economy, our communities, and everyone involved in this wonderful sector. About the Author Nik Mills Director, Policy & Government Affairs, Tourism Industry Association of Canada As Director, Policy and Government Affairs with the Tourism Industry Association of Canada, Nik develops policy, research and government relations initiatives that support TIAC’s vision to lead the Canadian tourism industry to be one of the most competitive in the world. With extensive experience in the industry, Nik has successfully led advocacy-based consulting projects supporting job creation and economic recovery strategies for various tourism organizations. Nik studied political economy, communications, and innovation policy at Toronto Metropolitan University, York University, and the University of New Brunswick. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. 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About the Author Nik Mills Director, Policy & Government Affairs, Tourism Industry Association of Canada As Director, Policy and Government Affairs with the Tourism Industry Association of Canada, Nik develops policy, research and government relations initiatives that support TIAC’s vision to lead the Canadian tourism industry to be one of the most competitive in the world. With extensive experience in the industry, Nik has successfully led advocacy-based consulting projects supporting job creation and economic recovery strategies for various tourism organizations. Nik studied political economy, communications, and innovation policy at Toronto Metropolitan University, York University, and the University of New Brunswick. chevron_right More from this Author
business and finance The Emerging Leaders' Guide to Thriving at Industry Events By destinationsinternational.org Published On :: Tue, 05 Nov 2024 21:09:23 +0000 The Emerging Leaders' Guide to Thriving at Industry Events jhammond@desti… Tue, 11/05/2024 - 21:09 Image Off Attending industry events as a young professional unlocks key opportunities for growth. This guide shares tips for maximizing networking, skill-building, and bringing value back to your organization. By investing in conferences, leaders empower emerging talent, fostering a resilient, forward-thinking workforce ready to lead the future. Peyton Glover 6 min read November 5, 2024 Attending events and conferences as a young professional or emerging leader is a transformative experience that offers invaluable opportunities to network, learn, and enhance your contributions to your organization. Recently, my colleague Kelsey Hayes and I attended the Texas Association of Convention and Visitors Bureau (TACVB) conference, which underscored how impactful these events can be for personal and workforce development. This guide aims to provide young professionals with actionable tips for maximizing their experience at industry events while highlighting the importance of encouraging leaders to invest in developing their emerging talent. Why Conferences Are Crucial for Workforce Development In industries like tourism and destination promotion, staying up to date with evolving trends, technologies, and best practices is essential. Conferences are more than just learning opportunities—they are investments in the growth of both employees and organizations. By attending these events, emerging leaders gain fresh insights, acquire new skills, and build connections that can ultimately improve their team’s performance and contribute to the organization’s success. Workforce development flourishes when employees—particularly younger team members—are given the tools and opportunities to grow. By sending them to conferences, leaders empower these professionals to bring back innovative ideas and actionable knowledge, strengthening the organization. Investing in young talent is the cornerstone of building a resilient and forward-thinking workforce as we prepare for the future. Building Connections: The Power of Networking One of the most rewarding aspects of attending the TACVB conference was connecting with other young professionals at the Young Professionals Reception. Meeting peers navigating similar challenges offered an immediate sense of community, which is crucial for those new to the industry. Networking is an essential component of workforce development. Building relationships with peers, mentors, and potential collaborators can significantly impact your career trajectory. These connections often open doors to new opportunities and create a support network you can rely on throughout your professional journey. Events like TACVB provide the perfect platform to establish these relationships early, laying the foundation for long-term success. Tip: Be Intentional About Networking To make the most of these opportunities, approach networking with intention. Find a buddy with someone at your level to explore the event with. Be proactive in introducing yourself to others, ask insightful questions, and genuinely engage in conversations. Make sure to bring the business cards and wear a name tag. Remember, it's not just about expanding your professional circle—it's also about building meaningful connections that can offer support, guidance, and collaboration in the future. Make these connections meaningful by connecting on LinkedIn or sending an email note. Expanding Your Skills Through Professional Development Sessions Professional development sessions are a goldmine for enhancing your skillset. At TACVB, I had the opportunity to attend several sessions that directly aligned with my role. From learning about cutting-edge marketing strategies to discovering the latest tools for stakeholder engagement, these sessions provided practical insights I could immediately apply at work. These sessions are vital for workforce development and equipping young professionals with the skills and knowledge necessary to excel. By learning directly from industry leaders and experts, young employees can bring back innovative practices that enhance their organization’s operations. Tip: Select Sessions Wisely Review the conference agenda beforehand to maximize your learning and choose sessions that align with your current role or areas where you want to grow. Divide and conquer with your colleagues at the conference to maximize the sessions attended. Don’t forget to bring your desired note-taking guide. Think critically about how you can apply what you’ve learned to your job or your team’s objectives. Review your notes within 24 hours. Don’t go on information overload; take the time to sit and reflect with your notes. A Pivotal Moment: The First-Timer Lunch Another pivotal experience at the TACVB conference was attending the First-Timer Lunch. This gathering brought together professionals at different stages of their careers, from CEOs to coordinators, providing an open forum to exchange ideas and share experiences. It was an eye-opening opportunity to connect with industry veterans while building relationships with peers attending for the first time. Interacting with experienced leaders offers invaluable mentorship opportunities and career insights for young professionals. Exposure to those further along in their careers allows you to learn from their experiences, gain advice, and explore potential career pathways. This type of engagement is crucial for workforce development, as it helps younger employees envision their future within the industry and fuels their drive to grow within their roles. Tip: Seize Opportunities to Engage Don’t be intimidated by titles or experience levels—these events are designed to encourage conversation and knowledge-sharing across the board. Take advantage of casual moments, like lunches or receptions, to introduce yourself to seasoned professionals and ask thoughtful questions. These connections can help shape your career path. Prompt questions and an elevator pitch to yourself for who you are and what you do beforehand if socializing does not come as naturally to you. Bring fun merch to hand out; this can be a great way to not only promote your brand but also get your foot in the door, so to speak, for initiating a conversation. Remember to take care of yourself. Rest and recharge your social battery to avoid burn-out throughout the conference. Bringing Value Back to Your Organization The ultimate goal of attending any conference is to bring the insights and skills you’ve gained back to your organization. After attending TACVB, we returned to our roles with new ideas for improving marketing strategies and more effective approaches to stakeholder engagement. The knowledge I acquired enhanced my performance and allowed me to contribute more meaningfully to my team’s success. From a workforce development perspective, this is where the investment pays off. When young professionals return from conferences, they come equipped with a renewed sense of purpose and valuable insights to benefit the organization. Leaders who prioritize sending their younger team members to events foster a culture of continuous learning and innovation, ensuring that the organization remains agile and competitive. Tip: Share What You’ve Learned Don’t keep the knowledge you gain to yourself—host a debriefing session with your team to share key takeaways from the conference. This will position you as a proactive leader and help disseminate valuable information throughout your organization, enhancing overall performance. Conclusion: Investing in the Next Generation Workforce development is critical for any organization looking to stay competitive in the tourism and destination marketing industry. Conferences and events allow young professionals to expand their skills, form vital industry connections, and bring innovative insights back to their teams. Our experience at TACVB emphasized just how powerful these opportunities can be, both for personal growth and for an organization's long-term success. By investing in young professionals, leaders are building a more skilled, motivated, and connected workforce—one that is ready to lead the industry into the future. Attending events is not just a steppingstone in personal career growth; it is an essential part of developing the leaders of tomorrow. About the Author Peyton Glover email pglover@destinationsinternational.org Membership Engagement Coordinator Destinations International Born and raised in Nashville, Tennessee, Peyton Glover has cultivated a robust background in destination marketing and sports marketing since earning his bachelor’s degree from Middle Tennessee State University. Peyton is the Membership Engagement Coordinator, leading initiatives to enhance workforce development and community engagement. With a keen interest in sustainable travel and community enrichment, Peyton is dedicated to leveraging his skills and experience to foster impactful connections within the tourism and sports marketing sectors. chevron_right More from this Author About The Author Kelsey Hayes Foundation Manager Destinations International As the Foundation Manager for Destinations International, Kelsey brings a wealth of experience in fundraising, event coordination, and relationship building to drive progress by supporting meaningful and sustainable initiatives within the travel and tourism industry. With a degree in Social Entrepreneurship from Texas Lutheran University, she has held integral positions at esteemed organizations including the Alzheimer’s Association and the National Multiple Sclerosis Society. Motivated by a profound commitment to social justice, Kelsey is dedicated to supporting initiatives that empower communities and foster positive change. chevron_right More from this Author Submit Your Thought Leadership Share your thought leadership with the Destinations International team! Learn how to submit a case study, blog or other piece of content to DI. Submit to DI Workforce Development Show Header? On Full Article
About the Author Peyton Glover email pglover@destinationsinternational.org Membership Engagement Coordinator Destinations International Born and raised in Nashville, Tennessee, Peyton Glover has cultivated a robust background in destination marketing and sports marketing since earning his bachelor’s degree from Middle Tennessee State University. Peyton is the Membership Engagement Coordinator, leading initiatives to enhance workforce development and community engagement. With a keen interest in sustainable travel and community enrichment, Peyton is dedicated to leveraging his skills and experience to foster impactful connections within the tourism and sports marketing sectors. chevron_right More from this Author
About The Author Kelsey Hayes Foundation Manager Destinations International As the Foundation Manager for Destinations International, Kelsey brings a wealth of experience in fundraising, event coordination, and relationship building to drive progress by supporting meaningful and sustainable initiatives within the travel and tourism industry. With a degree in Social Entrepreneurship from Texas Lutheran University, she has held integral positions at esteemed organizations including the Alzheimer’s Association and the National Multiple Sclerosis Society. Motivated by a profound commitment to social justice, Kelsey is dedicated to supporting initiatives that empower communities and foster positive change. chevron_right More from this Author
business and finance US inflation data this week expected to show core CPI moving sideways - risk ahead higher By www.forexlive.com Published On :: Mon, 11 Nov 2024 23:17:14 GMT A note via Bank of America economists on expectations and wariness on US October CPI data due Wednesday at 8.30 am US Eastern time. BoA expect core CPI to show an increase of 0.3% m/m monthholding at 3.3% y/ywould be the third consecutive month with a 3.3% core readingBoA say that looking ahead, the rise is inflation tilted to the upside:"We see pro-growth fiscal policy, tariffs, and tighter immigration as potential sources of upside inflation risk over the coming years if they are implemented"Higher inflation to come would slow/halt/reverse (you can pick more than one ;-)) Federal Reserve rate cuts. This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance ICYMI - PBOC Governor warned on yuan slide, will 'guard against risk of overshoot' By www.forexlive.com Published On :: Mon, 11 Nov 2024 23:39:59 GMT Justin had the news from the People's Bank of China here:PBOC governor will maintain yuan exchange rate at a reasonable, balanced levelPBOC governor Pan Gongsheng emphasized the Bank will not let the yuan plummet without a fight:Will step up countercyclical adjustment Should resolutely guard against the risk of exchange rate overshootWith the surging USD after Trump's win the yuan is just one of many weaker currencies: This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance PBOC is expected to set the USD/CNY reference rate at 7.1944 – Reuters estimate By www.forexlive.com Published On :: Tue, 12 Nov 2024 00:23:56 GMT People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value.Earlier:ICYMI - PBOC Governor warned on yuan slide, will 'guard against risk of overshoot' This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance PBOC sets USD/ CNY central rate at 7.1927 (vs. estimate at 7.1944) By www.forexlive.com Published On :: Tue, 12 Nov 2024 01:15:31 GMT The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.Previous close was 7.2150The rate today at 7.1927 is weakest since September 12 of 2023. PBOC injects 125bn yuan via 7-day RR, sets rate at 1.5% 18bn yuan mature today net injection is 107bn yuan*-*-/*/* This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance Bank of England / Bank of Finland speakers combine for a panel discussion Tuesday By www.forexlive.com Published On :: Tue, 12 Nov 2024 02:35:24 GMT 0900 GMT / 0400 US Eastern time: Olli Rehn, Governor of the Bank of Finland, and Bank of England Chief Economist Huw Pill speak on a panel at a conference organised by UBS in LondonAs Governor of the Bank of Finland Rehn is a member of the European Central Bank monetary policy board, the Governing Council. Thus we'll get policy/economy comments relevant for the ECB and BoE for this one. This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance Prepare for a Wave of Fed Speakers on November 12, 2024 By www.forexlive.com Published On :: Tue, 12 Nov 2024 04:00:03 GMT Heads up for a barrage of Fed speakers due Tuesday 12 November 2024:10:00 AM ET / 1500 GMTFed's Waller (Governor, Voter) speech (the topic is 'payments')10:15 AM ET / 1515 GMTFed's Barkin (Richmond Fed President, non-voter) speech2:00 PM ET / 1900 GMTFed's Kashkari (Minneapolis Fed President, non-voter)5:00 PM ET / 2200 GMTFed's Harker (Philadelphia Fed President, non-voter) speech5:30 PM ET / 2230 GMTFed's Barkin (Richmond Fed President, non-voter) speaks again This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance ECB's Rehn: The direction of our policy moves is clear By www.forexlive.com Published On :: Tue, 12 Nov 2024 08:31:00 GMT The pace of the moves depends on the dataWe are data dependent but not data point dependentGrowth outlook has deteriorated due to manufacturing sectorIf disinflation stays on track, it would make a case for further rate cutsWe could be leaving restrictive territory in the spring of 2025The last thing we need now is yet another trade warTariffs impact will be medium-to-long termProtectionism by definition is inflationaryThe remarks are as you would expect from the ECB at this current stage. But they are already starting to recognise the potential impact of Trump tariffs and that's a warning signal to the outlook for next year I guess. This article was written by Justin Low at www.forexlive.com. Full Article Central Banks
business and finance ECB's Rehn: Rate cuts will depend on our overall assessment at each meeting By www.forexlive.com Published On :: Tue, 12 Nov 2024 09:15:13 GMT Euro area growth is projected to be sluggishSees downside risks to growthWaiting on December projections for a better picture of where we standSo far, he's not saying anything to jolt market pricing. And that's the other main consideration for any of their communications before making policy decisions. As such, a 25 bps rate cut in December remains the likeliest option at this stage. EUR/USD remains down 0.2% on the day at 1.0626 currently. This article was written by Justin Low at www.forexlive.com. Full Article Central Banks
business and finance BOE's Pill: Further rate cuts likely to be a gradual process By www.forexlive.com Published On :: Tue, 12 Nov 2024 09:37:59 GMT It is just a question of how far and how fastRate cut last week does not mean that the job is doneLabour market data today show pay growth still at high levelsThere is still some work to be done on underlying domestic inflation pressuresAll that being said, Pill argues that there has been "substantial" disinflation in the UK already. To summarise, it just means that they are not necessarily going to cut rates at every coming meeting. However, they are making it clear that they do have the option to do so if need be. This article was written by Justin Low at www.forexlive.com. Full Article Central Banks
business and finance Fed's Waller: Makes no comments on economy or monetary policy outlook By www.forexlive.com Published On :: Tue, 12 Nov 2024 15:00:49 GMT Fed's Waller is speaking but makes no comment on monetary or economic policy in his prepared remarks.He does say: private sector best suited to innovate on payment systemsFed ready to support private innovation, mindful of financial stability.Government should have clear objective when providing financial services.There are times when government can address market inefficienciesStill does not see case for Fed digital dollarPerhaps he will comment on monetary policy/the economy in a Q&A later.Looking ahead at 10:15 AM ET, Richmond and President Barkin is speaking (he speaks at 5:30 PM ET as well). 2 PM, Minneapolis Fed Pres. Kashkari speaking and at 5 PM Philadelphia Fed Pres. Harker is scheduled to speak This article was written by Greg Michalowski at www.forexlive.com. Full Article Central Banks
business and finance Fed's Barkin: Fed in position to respond appropriately regardless of how economy evolves By www.forexlive.com Published On :: Tue, 12 Nov 2024 15:17:16 GMT Richmond Fed Pres. parking is speaking and says:Fed is in position to respond appropriately regardless of how economy involves.US economy looks pretty goodLabor market is resilient.From here, labor market mighty be fine or may continue to weaken.Inflation might be coming under control or might risk getting stuck above Fed 2% target.Feds focus may turn to upside inflation risks or to downside employment risks, depending on how economy develops.The market is pricing a 65% chance of a 25 basis point cut in December. That is down over the last week or so (it was in the high 70%s last week).US yields are higher but off their highest levels:2-year 4.314%, +6.1 basis points5-year 4.269%, +7.6 basis points10-year 4.370%, +6.3 basis points30 year 4.516%, +3.7 basis points This article was written by Greg Michalowski at www.forexlive.com. Full Article Central Banks
business and finance New York Fed: 1-year inflation expectations 2.9% versus 3.0% last month By www.forexlive.com Published On :: Tue, 12 Nov 2024 16:06:13 GMT One year inflation expectations 2.9% versus 3.0% last month. That is the lowest in four yearsThree-year inflation expectations 2.5% versus 2.7% last monthFive-year inflation expectations 2.8% versus 2.9% last monthother details :Consumers in October saw lower likelihood of missing a minimum debt payment for the first time in five monthsConsumers in October saw lowest likelihood of a rising US unemployment rate over the next year since February 2022Consumers saw lower chance of losing current job and improved prospects for finding a new job if current job were lostUnemployment expectations decline to 34.5%, lowest since February 2022Probability of finding a job increase the highest level since October 2023This is good news is inflation expectations help to keep a lid on actual inflation. Nevertheless yields remain near highs for the day.2 year 4.321%, +6.7 basis points5-year 4.281%, +8.9 basis points10 year 4.390%, 8.2 basis pointsUS stocks are lower:Dow -0.38%S&P -0.33%NASDAQ -0.14% This article was written by Greg Michalowski at www.forexlive.com. Full Article Central Banks
business and finance Fed's Kashkari: The fundamentals seems strong and I'm optimistic that will continue By www.forexlive.com Published On :: Tue, 12 Nov 2024 19:06:41 GMT Comments from the Minneapolis Fed President in conversation with Yahoo Finance.Contacts are optimisticWe have to wait and see what the new government policies are, we will have to wait and seeA one-time tariff increase in transitory but it can become tit-for-tat, right now we're all just guessingImmigration could have a big effect but we will have to see what will happenNew lease inflation takes a couple years to work its way throughWe have good confidence that the housing piece of inflation will get to normal levels, though it may take a year or twoThe labor market has been surprisingly resilient, it's a good labor marketThe economy looks like it's in a strong positionIf we saw inflation surprise to the upside between now and December, that might give us pauseProbably not enough time for jobs to surprise on the upsideProductivity looks like it's been stronger, which could mean a higher neutral rate If so, we may not cut as muchWe all agree that we're above neutral nowThe rise in long-term yields doesn't look like it's about long-term inflation expectationsI think we're modestly restrictive right now. I thought we were putting two feet on the brakes but in hindsight we were only putting one foot on the brakeMy judgement is that we still have a long ways to go in shrinking the balance sheetUltimately the economy will guide us in terms of how far we need to cut ratesKashkari is candid and is oftentimes dovish but he sounded less like someone who wants to keep on cutting. His comment about one foot on the brakes was helpful in illustrating how he sees the economy and rates. The interesting discussion is about neutral right now and how close the Fed wants to go. He also touched on a longer timeline to get inflation all the way back to 2% and that should keep the Fed in the high 3s assuming no sharp slowdown in the economy. Of course, the Fed curve is also pricing 3.80% as the terminal rate. This article was written by Adam Button at www.forexlive.com. Full Article Central Banks
business and finance NY Fed Perli says there's been more friction in money mkts lately, repo rate rise orderly By www.forexlive.com Published On :: Tue, 12 Nov 2024 21:34:24 GMT The New York Federal Reserve branch's Roberto Perli is manager of the Fed’s System Open Market Account (SOMA).Recent quarter-end money market volatility not historically large.Still strong evidence reserve levels remain abundant.No imminent signs of issues for Fed to implement monetary policy.Recent quarter-end pressure was contained.Slow rise in repo rates has been orderly.Standing repo facility stands ready to provide liquidity.Notes there’s been more friction in money markets lately.---The Federal Reserve’s System Open Market Account (SOMA) is the central portfolio used by the Federal Reserve to conduct monetary policy. It holds the securities that the Fed buys and sells through open market operations, primarily U.S. Treasury securities, agency debt, and mortgage-backed securities. SOMA is a key tool for influencing short-term interest rates and managing the money supply. By adjusting the size and composition of this portfolio, the Fed can influence liquidity, credit conditions, and the overall stance of monetary policy in the economy.In addition to domestic assets, SOMA also holds foreign currency assets, allowing the Fed to participate in foreign exchange markets when necessary. The New York Federal Reserve Bank manages SOMA on behalf of the entire Federal Reserve System. This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance ECB Interest Rate Forecast: Deutsche Bank's 7 reasons for projecting a lower terminal rate By www.forexlive.com Published On :: Tue, 12 Nov 2024 23:19:39 GMT Deutsche Bank has revised its forecast for the European Central Bank’s (ECB) terminal rate, lowering its central-case projection from 2.25% to 1.50%. The bank now anticipates the ECB’s policy rate will dip slightly below the neutral rate by the end of 2025, rather than returning to neutral by mid-year as previously expected.This shift in outlook is driven by several factors, including the potential for new tariffs from a Trump administration, which would likely impact trade, along with weaker macroeconomic performance in Europe and the increasing risk of inflation falling below target. According to Deutsche Bank, the uncertainty surrounding these dynamics is considerable, especially given the unclear timing and effects of U.S. tariffs and potential European responses. Reflecting this uncertainty, the bank has outlined a broad target range of 1.00% to 1.75% for the ECB’s terminal rate.Deutsche Bank notes that the terminal rate’s trajectory and ultimate level will depend on key influences such as:European fiscal policy, the economic health of Germany, developments in China, and fluctuations in oil prices. The bank further suggests that the global economy may be entering a new phase, with Europe potentially experiencing increasingly divergent economic conditions compared to the U.S. This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance PBOC is expected to set the USD/CNY reference rate at 7.2305 – Reuters estimate By www.forexlive.com Published On :: Wed, 13 Nov 2024 00:20:24 GMT People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value.Earlier re China:Green shoots in China? Excavator sales grew 15% in OctoberIt's not a pretty picture in China This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance PBOC sets USD/ CNY mid-point today at 7.1991 (vs. estimate at 7.2305) By www.forexlive.com Published On :: Wed, 13 Nov 2024 01:15:21 GMT The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.Previous reference rate was 7.2355.The setting at 7.1991, about 300-odd points lower than the modelled estimate is indicative of the PBoC pushing back against yuan weakness. AUD/USD has popped a little on the setting of a stronger than expected yuan. PBOC injects 233bn yuan via 7-day RR, sets rate at 1.5% 17bn yuan mature today net injection is 216bn yuan/*/* This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance PBoC promised stronger damping to support CNY, and that's what are seeing By www.forexlive.com Published On :: Wed, 13 Nov 2024 01:29:29 GMT Justin had the news from the People's Bank of China here on Monday:PBOC governor will maintain yuan exchange rate at a reasonable, balanced levelThe PBOC governor Pan Gongsheng emphasized that the Bank will not let the yuan plummet without a fight:Will step up countercyclical adjustmentShould resolutely guard against the risk of exchange rate overshootToday is an example of the Bank pushing back on yuan weakness, with the reference rate set 300+ points stronger for the CNY than was expected (in the Reuters model). Offshore yuan has jumped (lower USD/CNH as shown in the chart below): This article was written by Eamonn Sheridan at www.forexlive.com. Full Article Central Banks
business and finance FX option expiries for 11 October 10am New York cut By www.forexlive.com Published On :: Fri, 11 Oct 2024 05:38:29 GMT There are just a couple to take note of, as highlighted in bold.And they are for EUR/USD at the 1.0930 and 1.0950 levels. If anything else, the expiries should help to keep price action more locked in that range in the session ahead. All that before we get to US trading of course, where we could see volatility and market action pick up before the weekend.There are also some modest ones for USD/CAD and AUD/USD. However, given prevailing spot levels, the expiries are unlikely to feature into play.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 14 October 10am New York cut By www.forexlive.com Published On :: Mon, 14 Oct 2024 05:20:38 GMT There are a couple to take note of on the day, as highlighted in bold.The first one is for EUR/USD at the 1.0950 level. That sits near the 100-hour moving average at 1.0949 currently with the bigger picture focus being on the pair's 100-day moving average at 1.0935. Keeping below both is underscoring a more downside bias, so the expiries here adds an extra layer to that for the session ahead at least.Then, there is a relatively large one for USD/JPY at the 149.00 level. If anything else, that could put a floor on price action at least until the expiries roll off later in the day. That especially with it being a partial US holiday to start the new week, providing little incentive for markets to go running.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 15 October 10am New York cut By www.forexlive.com Published On :: Tue, 15 Oct 2024 05:06:23 GMT There are some large ones on the board for today but may not feature into play given the current spot price levels.The one for EUR/USD is seen at the 1.1000 mark but as the dollar holds firmer, it's not likely to factor into price action in the session ahead. There are also some large ones on the board for the pair in the days ahead, so we'll see if those will come into play.Then, there is one for AUD/USD at the 0.6675 and 0.6775 levels. Recent price action for the pair is more of a consolidation around 0.6700 to 0.6750, so it might take a bit to break the mold in the session ahead. To the downside, there is additional support from the 100-day moving average at 0.6693 so that could limit any drop. And with the dollar keeping steadier, topside potential remains capped for now.So, that's the state of play with regards to the larger expiries for the day.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 16 October 10am New York cut By www.forexlive.com Published On :: Wed, 16 Oct 2024 05:42:23 GMT There aren't any major expiries to take note of on the day. As such, trading sentiment might be a bit more muted in the session ahead. The dollar is keeping steadier across the board, so that continues to be the running theme since two weeks ago. There's no significant extension of that this week but there's no reversal signs either as of yet.In terms of expiries, there is a large one for EUR/USD at the 1.0950 level but given the price action we're seeing, it isn't likely to feature into play. But just in case it does, do take note of it as that could limit any upside pullback in the session ahead at least.That being said, the 100 and 200-hour moving averages at 1.0918 and 1.0947 respectively as well as the 100-day moving average at 1.0936 are more pertinent levels to watch out for in case buyers do try and make a play.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 17 October 10am New York cut By www.forexlive.com Published On :: Thu, 17 Oct 2024 05:30:40 GMT There is just one to take note of on the day, as highlighted in bold.That being for AUD/USD at the 0.6700 level. When paired together with the technical predicament here, the expiries add another layer for buyers to have to chew through in the session ahead. As such, that might help to limit gains in European morning trade at least. That considering the dollar is also continuing to keep steadier throughout the week.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 18 October 10am New York cut By www.forexlive.com Published On :: Fri, 18 Oct 2024 05:32:27 GMT There is just one to take note of on the day, as highlighted in bold.That being for EUR/USD at the 1.0850 level. It isn't one that ties too much with any key technical levels but the expiries could help to just keep a lid on price action for the session ahead. That considering there is little else to work with for the time being. But stronger resistance is seen closer to the 200-day moving average at 1.0871 and then the 100-hour moving average at 1.0880 currently.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 21 October 10am New York cut By www.forexlive.com Published On :: Mon, 21 Oct 2024 05:37:06 GMT There are a couple to take note of on the day, as highlighted in bold.The first being for EUR/USD at the 1.0885 level. It isn't one that holds much technical significance, especially with the 100-hour moving average at 1.0866 pinning price action down for now. But it could play a role in limiting any upside extensions in the session ahead at least.Then, there is one for USD/CAD at the 1.3800 level. That alongside the 100-hour moving average of 1.3788 could help to provide a floor for price action, at least for the session ahead for the pair.All of this considering the lack of key catalysts to get major currencies moving to kick start the week of course.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 22 October 10am New York cut By www.forexlive.com Published On :: Tue, 22 Oct 2024 05:36:47 GMT There are just a couple to take note of, as highlighted in bold.The first one is for EUR/USD at the 1.0850 level. It coincides with the 100-hour moving average currently, which is where price action was held up in trading yesterday. As such, the expiries alongside the key near-term level there should limit any upside extensions in the session ahead at least. Not to mention that there is a large one at the same level there for tomorrow.Then, there is one for AUD/USD at the 0.6675 level. It isn't one that holds much technical significance so I wouldn't the expiries to provide too much of a draw. However, it could still anchor down price action during the session especially with the 100 and 200-hour moving averages seen at 0.6688-00 currently.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 23 October 10am New York cut By www.forexlive.com Published On :: Wed, 23 Oct 2024 05:25:00 GMT There are a couple to take note of on the day, as highlighted in bold.The first being for EUR/USD at the 1.0850 level. The size of the expiries is noteworthy but it might not feature too much into play as the dollar is keeping firmer this week. Besides that, there is the 100-hour moving average at 1.0834 keeping a ceiling on price action for now. As such, that could limit the influence and impact of the expiries. But if we do see it come into play, expect that to be a spot in anchoring any upside extensions.There will be more expiries towards the downside under 1.0800 in the day ahead, so there's that to consider as well.Besides that, there is one for AUD/USD at the 0.6670 level. It isn't one that ties to any technical significance again, but it could just keep price action a little stickier with little else to work with in the session ahead. Near-term upside for the pair is more limited by the 100-hour moving average at 0.6689 currently.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 24 October 10am New York cut By www.forexlive.com Published On :: Thu, 24 Oct 2024 05:50:48 GMT There are quite a number on the board for the day, as highlighted in bold.The first ones are for EUR/USD at the 1.0780 level through to 1.0800. That might keep price action locked in for a while until we get to the euro area PMI data later. If there is downside surprises to the data, we could even see the expiries at 1.0750 get looped into play. That might provide some base for price action if the data stirs up appetite for a 50 bps rate cut by the ECB for December.Then, there is one for USD/JPY at the 152.00 level and that could provide a bit of a floor to any retracement in price action we're seeing on the day. That at least until the expiries roll off. But again, the bond market remains the more influential driver for the pair at this stage. So, keep that in mind.There is also one for USD/CAD at the 1.3810 level, and that sits in between the key hourly moving averages at 1.3802-20 currently. As such, that might keep price action in check above the 1.3800 level after the BOC yesterday.And lastly, there is one for AUD/USD at the 0.6640 level. I wouldn't attach too much technical significance to it though but it may yet just act as a bit of a magnet for price action before rolling off. That is if risk sentiment continues to stay more muted and pensive in general. The 200-day moving average at 0.6628 remains the more attractive level to watch for the pair currently, with upside potential more limited closer to the 100-hour moving average at 0.6676.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 25 October 10am New York cut By www.forexlive.com Published On :: Fri, 25 Oct 2024 05:29:52 GMT There are a couple to take note of on the day, as highlighted in bold.The ones for EUR/USD are seen at the 1.0800 and 1.0820 levels. The ones at the former held price action yesterday before rolling off and the ones today should keep downside price action more limited in between the key levels. Looking at the near-term chart, we are seeing price hold in between the 100 and 200-hour moving averages of 1.0809 and 1.0838. So, that is also boxing things in going into the session ahead.Then, there is one for USD/CAD at the 1.3855 level. It isn't one that holds any technical significance but may just anchor price action before we get to the Canadian retail sales data later in the day at least.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 28 October 10am New York cut By www.forexlive.com Published On :: Mon, 28 Oct 2024 06:46:06 GMT There is just one to really take note of on the day, as highlighted in bold.That being for EUR/USD at the 1.0800 level. Alongside the 100-hour moving average nearby at 1.0802 currently, it is likely to keep a lid on price action in the session ahead. That especially with higher yields continuing to underpin the dollar in general to start the new week. But the range for the day is relatively narrow, so we might see some extension plays but arguably limited by the expiries above. If anything, the 200-hour moving average at 1.0827 will act as a "safety net" of sorts in limiting any outsized price extensions with little catalysts for the time being.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 29 October 10am New York cut By www.forexlive.com Published On :: Tue, 29 Oct 2024 04:33:47 GMT There is just one to take note of on the day, as highlighted in bold.It's the same one for EUR/USD as seen yesterday, at the 1.0800 level. The expiries today are relatively large and could provide a draw/magnet for price action in the session ahead. That could very well keep the price range more limited, alongside key near-term levels.The 200-hour moving average, seen at 1.0820 currently, is still providing a ceiling for any upside extensions. And price action is trading narrowly in between that and the 100-hour moving average, seen at 1.0803 currently. So, the expiries at 1.0800 adds to some pull in and around those levels.That until they roll off later in the day or we get a key catalyst of sorts, which isn't likely given the lack of items on the economic calendar until US trading.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 30 October 10am New York cut By www.forexlive.com Published On :: Wed, 30 Oct 2024 04:39:56 GMT There are just a couple to take note of on the day, as highlighted in bold.And they are both for EUR/USD at the 1.0775 and 1.0850 levels. The expiries are sandwiching the spot price at the moment with price action this week largely contained in between 1.0780 through to 1.0825. As such, the expiries will add to those defensive layers on either side.That being said, the euro side of the equation will come into focus with plenty of CPI and GDP data in the day(s) ahead. So, just be wary of that.In terms of technicals, the pair is consolidating somewhat after testing the August low of 1.0777. Buyers are holding on somewhat with the near-term chart also reflecting that, with price action now just above its 100 and 200-hour moving averages of 1.0809-15. But I would argue getting above the Friday high of 1.0839 will do more to convince of a potential turnaround for buyers. So, keep that in mind as well.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders
business and finance FX option expiries for 31 October 10am New York cut By www.forexlive.com Published On :: Thu, 31 Oct 2024 05:07:54 GMT There are a couple to take note of, as highlighted in bold.The first one is for EUR/USD at the 1.0850 level and that is likely to limit price action until we get to the euro area inflation data later. The numbers there offers a risk to the single currency, but there is also still a ceiling from the 200-day moving average at 1.0868. That will be a key technical level to watch in the day ahead.Then, there is one for USD/CHF at the 0.8650 level. With price action holding below the 100-day moving average of 0.8677 in the past few days, the expiries here could keep things more locked in until traders feel comfortable to chase the next key technical push in the pair. Just be wary that there is another large set of expiries at the same level for tomorrow too.And lastly, there is one for EUR/GBP at the 0.8350 level. It isn't one that holds much technical significance but could offer a bit of a floor to price action after the rise yesterday, in which the pound was dragged down amid the UK budget while the euro perked up on CPI and GDP data.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low at www.forexlive.com. Full Article Forex Orders