Financial Briefs

Mastercard prioritizes data security in payment experience, launching a solution for safe financial data sharing. Users gain more choice and better service, while Mastercard supports open banking. Their Account Owner Verification service automates and simplifies customer bank account verification, saving time and money. This innovation empowers consumers to transact securely and seamlessly. Jess Turner, EVP …

Mastercard Expands European Open Banking with New Product & Partnership Read More »

Turkey’s Lira Hits Record Low, Signaling Move towards Free Market as State Controls Eased. The lira dropped 7% in its largest daily decline since the 2021 crash, indicating a shift away from state intervention. President Erdogan’s re-election increased pressure on the currency, now down over 19% this year. The central bank’s forex reserves reached a …

Turkish Lira Plunges 7% Indicating Shift towards Free Market Read More »

A new debt ceiling deal introduces work reporting rules for 50-something SNAP beneficiaries, risking food assistance for 750K adults aged 50-54, per Center on Budget and Policy Priorities. SNAP, or food stamps, provide monthly funds for low-income individuals. While work requirements already exist for most adults aged 18-49 without children, they can only receive benefits …

750K Adults at Risk of Losing SNAP Food Assistance Due to Debt Ceiling Deal Read More »

JPMorgan’s strategists state that de-dollarisation indicators are emerging in the global economy. The impact of US interest rate hikes and sanctions has led BRICs nations (Brazil, Russia, India, China, South Africa) to challenge the dollar’s dominance. Despite this, the dollar is expected to maintain its position for the foreseeable future. While overall dollar usage remains …

JPMorgan: Signs of De-Dollarisation Emerging on Wall Street Read More »

Deal Reached to Prevent US Default, Ensure Timely Social Security Benefits in June. President Biden and Speaker Kevin McCarthy’s agreement, passing through the House on May 31, suspends the debt limit until Jan 2025. The bill is expected to quickly pass the Senate and be signed by Biden. Social Security checks will be issued as …

June Social Security Benefits Schedule: Arrival Dates Read More »

The dollar strengthened as US rates seen higher for longer; Aussie and yuan recover; lira slides amid Erdogan’s re-election. Robust US jobs report boosts dollar with increased interest rate expectations. Australian dollar rebounds on positive Chinese services activity. Turkish lira continues to decline despite appointment of Mehmet Simsek as finance minister. US dollar supported by …

Firm Dollar, Longer US Rates Propel; Lira Slides Read More »

Lawmakers averted a U.S. debt default with a last-minute deal, which President Biden intends to sign into law promptly. During the negotiations, investors sought the safety of gold amidst market volatility concerns. However, as the likelihood of passing the debt ceiling deal increases, the impact on gold investors becomes uncertain. We analyze the potential effects …

Debt Ceiling Deal’s Impact on Gold: Insights Read More »