Sustainable retail packaging solution replaces expanded polystyrene on processor production lines.

The SXM2 Series X-Ray Inspection Systems are equipped with high-precision dual energy sensors and ARTIFICIAL INTELLIGENCE which allow processing of two overlapping images in one inspection.

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

Heads up for a barrage of Fed speakers due Tuesday 12 November 2024:

10:00 AM ET / 1500 GMT

• Fed's Waller (Governor, Voter) speech (the topic is 'payments')

10:15 AM ET / 1515 GMT

• Fed's Barkin (Richmond Fed President, non-voter) speech

2:00 PM ET / 1900 GMT

• Fed's Kashkari (Minneapolis Fed President, non-voter)

5:00 PM ET / 2200 GMT

• Fed's Harker (Philadelphia Fed President, non-voter) speech

5:30 PM ET / 2230 GMT

• Fed's Barkin (Richmond Fed President, non-voter) speaks again

Justin is away for today. This is my sad imitation of his awesome option expiry post ;-)

Justin will be back on Monday.

EUR/USD

• 1.0900 (EUR1.1bn), 1.0840 (EUR863m)

USD/CAD

• 1.3940 (US$693m), 1.3885 (US$650m), 1.3900 (US$457m)

GBP/USD

• 1.2900 (GBP638m), 1.2850 (GBP600.4m), 1.2800 (GBP490m)

AUD/USD

• 0.6700 (AUD451m)

NZD/USD

• 0.6100 (NZD720m)

USD/CNY

• 7.1500 ($854m)

EUR/GBP

• 0.8340 (EUR719m), 0.8400 (EUR328m), 0.8200 (EUR305m)

For more information on how to use this data, you may refer to this post here.

The EURUSD is pushing against its 2024 low at 1.0601. A break below that level would open the door for further downside momentum. A move to new laws would take the price to the lowest level since November 2, 2023.

There is not a lot support technically until a swing area near 1.05158 and 1.05316.

There were numerous Fed speakers on Tuesday, US time:

• Fed's Kashkari: The fundamentals seems strong and I'm optimistic that will continue
• Fed's Barkin: Fed in position to respond appropriately regardless of how economy evolves
• Fed's Waller: Makes no comments on economy or monetary policy outlook

and we get one more today in Asia:

• 2200 GMT / 1700 US Eastern time - Federal Reserve Bank of Philadelphia President Patrick Harker speaks on "Fintech, AI and the Changing Financial Landscape".

Which doesn't sound too promising for remarks from him on the economy or monetary policy. But, perhaps we'll get a mortsel thrown to us in any Q&A.

***

As for the data agenda, it's a bit of a yawn, none of it likely to move around major FX upon release.

From Japan we'll get an update of wholesale inflation - the PPI for October. The Producer Price Index (PPI) in Japan is also known as the Corporate Goods Price Index (CGPI)

• its a measure of the average change over time in the selling prices received by domestic producers for their output
• is calculated by the Bank of Japan

Unlike the Consumer Price Index (CPI), which measures the price change that consumers see for a basket of goods and services, the CGPI focuses on the change in the prices of goods sold by companies.

The PPI reflects some of cost pressures faced by producers

• its based on a basket of goods that represents the range of products produced within the Japanese economy, including items such as:
  • raw materials like metals and chemicals
  • semi-finished goods
  • and finished products
  • different weights are assigned to each category within the index based on its contribution to the overall economy.
• it does not account for the quality improvements in goods and services over time, which might lead to overestimation of inflation
  • additionally, it reflects only the prices of domestically produced goods, leaving out the impact of imported goods

The PPI can be used as a guide to inflationary pressures in the economy:

• If producers are facing higher costs, they may pass these on to consumers, leading to higher consumer prices.

***

From Australia we'll get wages data for Q3. Wage growth is expected to keep slowing (y/y) in Q3 2024. With the labor market softening, upward pressure on wages has been easing over recent quarters.

In Commonwealth Bank of Australia's preview they cite their internal data as indicating a quarterly wage growth of around 0.9%, a notable decrease from the 1.3% growth seen in the same quarter last year, which had been boosted by a significant 5.75% increase in award and minimum wages. As a result, the annual wage growth rate is projected to fall to 3.6%, bringing it closer to a level compatible with sustainable, in-target inflation.

While the labour market softening, but from strong levels, the RBA is eyeing wage growth as a factor helping keep inflation sticky. A moderation in growth for wages will be welcomed by the bank if it translates into softening price pressure also.

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
• I’ve noted data for New Zealand and Australia with text as the similarity of the little flags can sometimes be confusing.

Australia data - Wage Price Index for Q3 2024:

+0.8% q/q for the third consecutive quarter

• expected +0.9%, prior +0.8%
• Both the private sector and the public sector rose 0.8%, seasonally adjusted, for the quarter.

+3.5% y/y, lowest annual rise for the series since December quarter 2022 and followed four consecutive quarters of annual wage growth equal to or above 4%.

• expected +3.6%, prior +4.1%

---

The Australian Bureau of Statistics (ABS) publishes the Wage Price Index (WPI) quarterly, measuring changes in the price of labor, unaffected by shifts in workforce composition, hours worked, or employee characteristics.

The ABS provides detailed WPI data, including breakdowns by industry and sector, offering insights into wage trends across Australia's economy.

All eyes will be on the United States on Tuesday, 5 November 2024, as the world awaits the outcome of the contest between Kamala Harris and Donald Trump. With the countdown clock to the 2024 US elections beginning to tick down towards polling day, markets are starting to brace themselves for what is yet to come.

Key Volatility Factors

The sharp differences between Harris' and Trump's policy platforms are creating an atmosphere of market volatility, as investors may be unsure which sectors stand to be affected by the outcome of this neck-and-neck race.

Beyond the presidency, control of Congress—both the House and Senate—plays a crucial role in determining policy outcomes and potential market reactions. Historically, markets have trended upward across presidential terms, yet analysts suggest that a divided government, where different parties control the presidency and Congress, may be optimal for market stability.

Understanding underlying market dynamics is crucial for those entering the online trading arena, and as the U.S. election on 5 November approaches, market volatility is reaching new heights, creating both risks and opportunities for traders. To help navigate this turbulent landscape, Plus500 offers a wealth of resources through its Trading Academy, including US election webinars, tutorials, eBooks, analysis, and up-to-date news articles.

These tools equip traders with the knowledge to better understand market dynamics and the potential impact of political developments on their trading strategies. In this uncertain environment, well-informed traders who grasp key concepts and trends might be better-placed to adapt to sudden price movements that could arise from unexpected election outcomes, although results are never guaranteed with trading.

The Economic Issues Driving the 2024 Election

The 2024 U.S. elections bring critical economic issues to the fore, with tax, trade, and energy policies as central themes. Donald Trump has proposed further corporate tax cuts to stimulate growth, particularly in manufacturing, energy, and technology, which may boost equity markets in the short term, but could increase federal deficits. Kamala Harris, on the other hand, supports targeted tax incentives for green sectors while proposing higher corporate taxes for social initiatives, potentially boosting clean energy stocks but affecting traditional sectors.

On trade, Trump has revived his stance on tariffs, particularly towards China, aiming to promote domestic industries. This could benefit U.S. manufacturing but may disrupt tech and consumer goods reliant on international supply chains. Harris's approach, while less aggressive, would aim for targeted tariffs, supporting U.S. interests without risking extensive trade conflicts, which could stabilise sectors sensitive to global markets.

Energy policy reflects another stark partisan contrast. Trump advocates for expanding fossil fuel production to reduce energy costs and inflation, which would likely favour traditional energy stocks. Harris's clean energy approach seeks to boost renewables like solar and wind, supporting sustainability-focused sectors, although it may come with initial cost implications for energy markets.

Potential Market Risks: Volatility, Fed Policy, and Foreign Relations

Market volatility could increase with trade and energy policy shifts, especially if Trump’s proposed tariffs amplify tensions with China. Retaliatory tariffs could hurt agriculture and technology exports, heightening risks in indices tied to these sectors. In contrast, Harris’s more moderate approach might result in steadier markets, benefiting industries with international exposure.

Monetary policy remains critical, with Trump favouring lower rates to spur growth, risking inflation if the Federal Reserve complies. Harris supports the Fed’s independence, suggesting more stable monetary policy with potential benefits for long-term economic stability.

Foreign relations also play a role, particularly concerning China and other trade partners. Trump’s tariff plans could heighten international tensions, whereas Harris’s approach is seen as less confrontational, benefiting multinational corporations and stabilising revenue streams from abroad, particularly in tech and healthcare.

Markets Affected by the US Election

In addition to concrete economic sectors that are seeing the impact of election season volatility, certain corners of the market are seeing ups and downs as well:

Forex & USD

The US dollar’s performance has fluctuated under different administrations, and the stakes are high this time around. A Republican victory could send the dollar soaring, fuelled by aggressive trade policies and rising interest rates, potentially strengthening it against the euro. On the flip side, if a Democrat takes the helm, analysts predict a softer dollar due to reduced fiscal expansion and declining real interest rates, which could benefit the euro in the EUR/USD pair. As election day approaches, volatility could be heightened, including on platforms like Plus500.

Commodities

The commodities market is already making waves. Rising geopolitical tensions, especially in the Middle East, are already influencing oil prices, and any further escalations could tighten supply routes like the Strait of Hormuz, potentially driving oil prices up sharply. Precious metals, traditionally seen as safe havens, may attract risk-averse investors amid election uncertainty. If policies post-election signal heightened government spending or inflation concerns, metals like gold and silver could see increased demand, reinforcing their role as hedges in uncertain times.

Trading Election-Related Indices with Plus500

With all of the aforementioned shifts underway, there are unique opportunities to trade on the shifting political landscape through OTC products on specific indices available on Plus500. Notably, these indices reflect the anticipated impact of party control on various sectors, enabling diverse trading strategies.

● The US Democrats in Power Index (BUDIPI) tracks companies poised to thrive under Democratic governance. This index is weighted by Free-Float Market Capitalization, meaning larger companies have a greater influence. Investors can look to sectors such as clean energy, healthcare, and technology, which are expected to benefit from policies likely to be enacted by a Democratic administration.

● Conversely, the US Republicans in Power Index (BURIPI) focuses on firms that are projected to gain from Republican leadership. The BURIPI index encompasses companies in the energy, defence, and financial sectors, reflecting potential tax cuts, deregulation, and increased military spending that could arise from a Republican victory.

● Additionally, traders can explore the Trumpnomics Index (BTRUIN), which specifically tracks businesses that may flourish under former President Trump’s economic policies. This index captures the performance of companies in industries such as fossil fuels, manufacturing, and infrastructure, which Trump has historically supported.

Riding the Volatility Wave

In the build-up to polling day, the potential for market volatility presents exciting trading opportunities as well as accompanying risks. With access to a wide range of OTC instruments and learning resources, Plus500 equips traders to potentially better navigate the uncertainties and ride the waves of uncertain global markets.

About Plus500

Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including OTC (“Over-the-Counter” products, namely Contracts for Difference (CFDs)), share dealing, as well as futures and options on futures.

The Group retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, the Seychelles, the United States, Estonia, Japan, the UAE and the Bahamas and through its OTC product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade its OTC products in more than 60 countries and in 30 languages.

Plus500’s trading platforms are accessible from multiple operating systems (iOS, Android and Windows) and web browsers. Customer care is, and has always been, integral to Plus500. As such, OTC customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for OTC trading platform users and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits, while limiting capital losses.

Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index. https://www.plus500.com/.

WASHINGTON, DC -- The NAB Leadership Foundation (NABLF) officially kicked off the 2024 Broadcast Leadership Training (BLT) program last week at NAB Headquarters in Washington, D.C. Since BLT's inception, nearly 400 broadcasters have graduated from NABLF’s flagship program and over 70 percent have been promoted one or more times since graduating. In addition, 60 graduates have owned or currently own broadcast stations, and eight BLT graduates currently serve on the NAB Board of Directors.

Washington, D.C.— Proposals for technical papers and panel sessions are now being accepted for the NAB Broadcast Engineering and Information Technology (BEIT) Conference, taking place April 13-16, 2024 at NAB Show in the Las Vegas Convention Center. Selected papers will be presented during the conference and are eligible for inclusion in the official “Proceedings of the 2024 NAB BEIT Conference.”

Washington, D.C. -- Nominations are now being accepted for the 2024 National Association of Broadcasters (NAB) Technology Awards. The awards honor contributions in digital leadership, broadcast engineering and technology innovation, and will be presented during the 2024 NAB Show, held April 13-17 in Las Vegas.

Washington, D.C.— Registration is now open for the 2024 NAB Show, scheduled for April 13-17 (Exhibits April 14-17), at the Las Vegas Convention Center. This year will delve into trends such as artificial intelligence, streaming universes, virtual production, live events, the creator economy and advertising. Serving as the paramount live event driving the evolution of broadcast, media and entertainment, NAB Show presents a global stage for industry visionaries and leading companies to shape the future of digital storytelling and elevate audio and video experiences.

Washington, D.C.— Registration is now open for the 2024 NAB Show, scheduled for April 13-17 (Exhibits April 14-17), at the Las Vegas Convention Center. This year will delve into trends such as artificial intelligence, streaming universes, virtual production, live events, the creator economy and advertising. Serving as the paramount live event driving the evolution of broadcast, media and entertainment, NAB Show presents a global stage for industry visionaries and leading companies to shape the future of digital storytelling and elevate audio and video experiences.

WASHINGTON, D.C. – The National Association of Broadcasters (NAB) is accepting entries for the 38th annual NAB Crystal Radio Awards, honoring outstanding community service efforts undertaken by radio stations throughout 2023. Winners will receive national recognition for their community service work during a special awards presentation at NAB Show, happening April 13-17, 2024, in Las Vegas, Nev.

Washington, D.C. -- The National Association of Broadcasters Leadership Foundation (NABLF) is now accepting entries for the 2024 Celebration of Service to America Awards. These prestigious awards recognize the critical role local radio and television stations play in their communities across the country.

Washington, D.C. – The National Association of Broadcasters (NAB) today announced the finalists for the 2024 NAB Crystal Radio Awards, which has honored radio stations’ outstanding community service efforts since 1987. Winners will be announced during the We Are Broadcasters ceremony that takes place on the Main Stage at NAB Show, April 16 at 9:30 a.m. PST.

The National Association of Broadcasters (NAB) will present the Television Chairman’s Award to award-winning talk show host, actor, producer and recording artist, Jennifer Hudson. The ceremony will take place on the Main Stage at NAB Show during the We Are Broadcasters session on Tuesday, April 16 at 9:30 a.m.

Washington, D.C. -- The National Association of Broadcasters (NAB) today announced that Hubbard Radio’s David Kolesar and consulting engineer Winston Caldwell are the recipients of the 2024 NAB Engineering Achievement Awards. They will be honored at the We Are Broadcasters Awards, held on the Main Stage of the 2024 NAB Show, April 16 at 9:30 a.m.

WASHINGTON, D.C. – The National Association of Broadcasters (NAB) today announced that Sun Sachs, senior vice president of Digital Products at Townsquare Media, is the recipient of the 2024 Digital Leadership Award. He will be honored during the Broadcasting Hall of Fame ceremony held on the Main Stage at the 2024 NAB Show, April 15 at 1 p.m. PT.

Washington, D.C. -- PILOT, the innovation arm of the National Association of Broadcasters (NAB), today announced Amira Labs, AudioShake and Chord Communities as the winners of the 2024 PILOT Innovation Challenge and named Black Stock Footage and ConnectionOpen as honorable mentions. The winners will receive a trip to the 2024 NAB Show, held April 13–17, in Las Vegas. They will also be given exhibit space on the convention floor to demonstrate their products to potential customers, investors and partners, and the opportunity to present their findings in the Connect Zone Theater.

Washington, D.C. – The National Association of Broadcasters (NAB) today announced the launch of the 2024 Election Toolkit. The online resource provides local television and radio broadcasters with tips and resources to combat misinformation, drive get-out-the-vote efforts and cover local, state and federal elections.

Washington, D.C. – The Library of American Broadcasting Foundation (LABF) today announced Emmy Award-winning broadcaster, author and philanthropist Soledad O’Brien as the third annual Insight Award recipient. O’Brien will be honored during the NAB Show Welcome, April 15 at 9:30 a.m. PT.

Washington, D.C.— With 160 countries represented, NAB Show April 13 - 17 at the Las Vegas Convention Center, is solidly the global destination for all things broadcast, media and entertainment. Dignitaries and delegations from six continents will convene to discover cutting-edge technologies, forge strategic partnerships and shape the future of content creation.

WASHINGTON, D.C. -- TheNational Association of Broadcasters Leadership Foundation (NABLF) today announced the recipients of the 2024 Celebration of Service to America Awards, which recognize outstanding service to their communities by local television and radio stations. Winners will be honored at the awards ceremony on June 4, 2024, at The Anthem in Washington, D.C.

Las Vegas, Nev. -- The National Association of Broadcasters (NAB) today announced the 10 winners of the 37th annual NAB Crystal Radio Awards. Since 1987, the NAB Crystal Radio Awards have recognized radio stations for their exceptional year-round commitment to community service. The 2024 NAB Crystal Radio Award recipients listed below were chosen from 50 previously announced finalists.

Las Vegas – NAB Showtoday announced the winners of its prestigious 2024 Product of the Year Awards during a ceremony at the Las Vegas Convention Center. The awards recognize and celebrate the most significant and promising new products being exhibited at the Show.

Washington, D.C.— The National Association of Broadcasters (NAB) announced today that the 2024 Marconi Radio Award nomination window is open through May 31. Established in 1989 and named for inventor and Nobel Prize winner Guglielmo Marconi, the Marconi Radio Awards recognize overall excellence and performance in radio.

Washington, D.C.— The National Association of Broadcasters (NAB) is thrilled to announce that registration is now open for the 2024 NAB Show New York, held October 9-10 at the Javits Center. As the must-attend event for the broadcast, media and entertainment industry on the East Coast, NAB Show New York promises a dynamic experience of innovation, networking and learning in the media capital of the world.

Washington, D.C.— The National Association of Broadcasters (NAB) announced the finalists for the 2024 NAB Marconi Radio Awards in a live streamed video. The winners will be recognized and honored at radio’s biggest night, the Marconi Awards Dinner, where the industry’s major players come together to celebrate excellence and recognize stations and individuals. The dinner will be held October 9 during NAB Show New York.

Washington, D.C. – The National Association of Broadcasters (NAB) today announced a sweeping election preparedness initiative designed to provide broadcasters with the critical resources, tools and training needed to navigate the complexities of the 2024 election cycle. As the voice for America’s broadcasters, NAB is supporting its members as they work to deliver accurate and reliable election coverage across all platforms.

Washington, D.C. – The National Association of Broadcasters (NAB), in collaboration with members of the Hispanic Media GOTV Coalition, today launched Martes de Acción (Tuesdays of Action), an initiative aimed at encouraging Hispanic voter participation and strengthening civic engagement ahead of the November elections.

Radio and TV personality Bobby Bones will take the stage as host of the 2024 NAB Marconi Radio Awards, set to take place on October 9 during NAB Show New York. Bones will also be honored with the prestigious NAB Distinguished Service Award (DSA), the National Association of Broadcasters’ highest honor.

Washington, D.C.— The National Association of Broadcasters (NAB) is gearing up for the highly anticipated 2024 NAB Show New York, taking place October 9-10 (Education October 8-10) at the Jacob K. Javits Convention Center. As the premier East Coast event for the broadcast, media and entertainment industry, the Show will feature hundreds of new products with 20 product launches and nearly 50 first-time Exhibitors displaying advanced solutions to meet the evolving needs of the industry. With Q4 being a critical buying season, this is a must-attend event for professionals finalizing year-end budgets and planning for 2025.

The National Association of Broadcasters (NAB) presented the 2024 NAB Marconi Radio Awards, a celebration held at the Javits Center during NAB Show New York.

In response to the 2024 presidential and congressional election, NAB released the following statement.

Room 30, Parliament Buildings

Room 29, Parliament Buildings

Room 30, Parliament Buildings

Room 30, Parliament Buildings

Room 21, Parliament Buildings

Room 21, Parliament Buildings

Room 21, Parliament Buildings

Room 21, Parliament Buildings

Room 21, Parliament Buildings

Room 30, Parliament Buildings

Room 29, Parliament Buildings

Room 29, Parliament Buildings