labour market

Opinion: Unlawful government measures that cause anti-refugee hysteria and panic

by
Opinion: Unlawful government measures that cause anti-refugee hysteria and panic

The government of Cyprus has indefinitely suspended the processing of asylum applications from people of Syrian origin, citing an “emergency situation due to sudden influxes” from Syria. This decision, made under the Christodoulides Government, includes the use of the National Guard in anti-refugee operations and the suspension of asylum applications for 21 months for Syrians. The government’s measures have been criticized for violating international obligations under the Geneva Convention and the European Convention on Human Rights, as well as for contributing to anti-immigration and anti-refugee sentiments. Additionally, the government’s actions have been deemed illegal and disproportionate, with concerns raised about military-style pushbacks conducted with the navy and police.

USD recovers after early sell-off on Israeli attack reports

by
USD recovers after early sell-off on Israeli attack reports

The Euro-dollar currency pair is trading in the lower 1.0600s on Friday after news reports of an escalation in the Middle East conflict prompted a flight to safe-haven USD, resulting in a decline in EURUSD.

WTI falls on uncertain demand, MidEast tensions

by
WTI falls on uncertain demand, MidEast tensions

The West Texas Intermediate (WTI) futures dropped to .00 due to weak demand outlook and expectations of the Federal Reserve keeping interest rates higher. The Fed’s confidence in price pressures declining to 2% has been dented by higher consumer price inflation and strong labor market data. Expectations of higher crude oil inventories and fears of oil supply tightening due to Iran’s attack on Israel have also impacted the oil price. Treasury Secretary Janet Yellen mentioned the possibility of new sanctions on Iran, which could affect their oil exports.

Geopolitics, Fed and Chinese GDP

by
Geopolitics, Fed and Chinese GDP

Geopolitical tensions are causing caution among investors, with concerns about potential retaliation from Israel against Iran. The Nasdaq index fell below its 50-day SMA, indicating a possible sell-off. US economic data, including industrial production and Fed Chairman Jerome Powell’s speech, are being closely watched. Oil prices are influenced by tensions in the Middle East, with the possibility of Brent crude reaching 0. Gold prices are anchored by inflation expectations and geopolitical tensions, with potential for further increases. China’s strong GDP growth is seen as positive for gold demand. Powell’s speech and potential oil price increases could impact inflation. Gold prices are expected to continue rising, potentially reaching ,500.

European stocks gain, dollar strong as traders cut Fed easing bets

by
European stocks gain, dollar strong as traders cut Fed easing bets

European stocks were on track to outperform Wall Street on Friday due to high demand for exporter shares as major currencies in the continent dropped against a strong dollar.

Europe turns to ECB after U.S. inflation selloff

by
Europe turns to ECB after U.S. inflation selloff

Stocks and the euro were steady ahead of an European Central Bank meeting on Thursday, after stubborn U.S. inflation numbers triggered the biggest global market selloff in months and left Japan’s yen at a new 34-year low.

Euro remains vulnerable after ECB keeps rates steady

by
Euro remains vulnerable after ECB keeps rates steady

The European Central Bank (ECB) decided to hold its Main Refinancing Operations Rate steady at 4.5% to maintain downward pressure on consumer price inflation. ECB President Christine Lagarde warned of a weak economy with risks to growth tilted to the downside. The strong US Dollar is also contributing to the weakness in the EURUSD pair. The Dollar Index (DXY) is near a four-month high, and market expectations for Federal Reserve rate cuts have been pushed back due to strong US consumer price inflation and core Producer Price Index data.

Tesla strike in Sweden continues, union says, contradicting Musk

by
Tesla strike in Sweden continues, union says, contradicting Musk

A strike by Tesla mechanics in Sweden, one of the country’s longest labor disputes, continues to disrupt operations despite Elon Musk saying the storm is over. The strike has led to sympathy actions from various other workers, causing disruptions in Tesla’s operations. The strike is still ongoing, according to IF Metall, the union representing the mechanics, who are considering ramping up action. Investor pressure is mounting on Tesla, with Norway’s wealth fund, a significant investor, raising concerns about the strike and backing a shareholder proposal on respecting rights to collective bargaining. Some Nordic pension funds have also voiced concerns and one has even sold its shares in Tesla over the issue. The disruption caused by the strike has forced Tesla to find alternative ways to handle its operations, including changing the way cars are brought into Sweden and having employees handle waste and garbage themselves.

Calm before the CPI storm

by
Calm before the CPI storm

Investors and traders are cautious ahead of the release of US inflation data, which is expected to rise to 3.4%. If the data exceeds expectations, there is a possibility of a significant market sell-off.

‘Step in right direction’ for third country nationals

by
‘Step in right direction’ for third country nationals

Fact: Labour Minister Yiannis Panayiotou received an “initially positive response” from stakeholders on the issue of using workers from third countries to fill gaps in the labour market.