Basket Village USA Fri, 04 Jun 2021 23:47:42 +0000 en-US hourly 1 Basket Village USA 32 32 Arlington Affordable Housing Partnership Fri, 04 Jun 2021 22:58:50 +0000

Welcome baskets for residents of Queens Court

249 families have started to move into the new community of APAH – Queens Court. Groups and individuals are encouraged to donate welcome baskets for these new neighbors.

The request relates to baskets complete with articles to be inserted in a laundry basket. Please limit your donation to the items listed below as there is no space or capacity to accept other items.

For reasons of hygiene and dignity, all items must be new, unopened and unused.

A complete basket includes:

  • Laundry basket large enough to hold the items listed

  • Laundry detergent (pods)

  • Dishwasher detergent (pods)

  • Kitchen cleaning sponges

  • All-purpose cleaner

  • Dishwasher soap

  • Hand soap

  • Paper napkins (pack of 6)

  • Toilet paper (pack of 6)

  • Tissue paper (pack of 6)

  • Oven mitts

  • Optional: Welcome to the neighborhood personalized note.

To donate or pledge a full basket, please complete the following registration form to learn more about the drop-off date / location and any additional instructions.

If you have any questions, please contact Volunteer Manager Aseel Elborno at or 571.249.2928.

Terwilliger Place Topping Out

In May, APAH joined CBG Building Company to celebrate the ‘Topping Out’ of Lucille & Bruce Terwilliger Place, the milestone when a new project completes its highest part of the project. The construction team and APAH staff celebrated this milestone at the site on a bright sunny day, enjoying the nearby Rocklands barbecue and the view of the community of Virginia Square.

Over the next few months, the Terwilliger Place construction team will continue to work on exterior siding, window installation, exterior masonry as well as mechanical, electrical and plumbing systems.

Terwilliger Place will house 160 affordable housing units and a new ground floor condo for the American Legion Post 139. Of the 160 units, 50% will have a veteran preference, providing essential housing and resources to meet the needs of low-income veterans. in our community. It is expected to be completed in summer / fall 2022.

Reflections on APAH’s 14 Years of Growth

While Nina Janopaul’s early days at APAH were a master class in crisis management, opportunities for growth and greater service to the community also began to emerge – and the key was planning.

“For me,” Janopaul recalled, “it was a great discovery that long-term planning was such a powerful and flexible tool that could allow APAH to do something truly innovative.” While browsing the APAH’s Columbia Grove property in 2007 with an advisor, Janopaul speculated on how much more affordable housing could be added to the sprawling garden apartment community. “I remember he said, you know Nina, you can’t do that, it’s only zoned for a few more units.” But the possibility remained in Janopaul’s mind – there was a land and a skyscraper next to it, why couldn’t APAH find a way to build more to meet the needs of the community of ‘Arlington?

Even though it sounded a bit like a ‘mole kick’, the APAH was struggling to overcome some of the great financial challenges Janopaul faced when she joined APAH. “In those early years, there was no question of growing or adding to APAH’s portfolio. We were simply focused on finding resources and solutions for five different properties in different types of distress. But as the challenges began to ease, opportunities began to emerge.

A few years later, it was Chris Zimmerman, then a member of the Arlington County Board of Directors, who urged Janopaul to connect with the planning. He noted that Arlington was making sector plans all the time and APAH should be involved. During a memorable conversation, Chris pointed out how close the APAH property in Carlin Springs was to the area where Harris Teeter and the Mercedes Benz repair shop were pursuing rezoning. “The process had been going on for three years,” Janopaul recalls, “but APAH skipped the last year. I was so proud. Even though we got into the process late, we worked with the community and others involved in the process, developing at least ten iterations of our plan until we came to an agreement.

The APAH project was the first to be built. Springs Apartments were completed in 2016, bringing 104 beautiful new and affordable apartments where there were only 27, and a new office on the first floor for the growing organization.

The success of The Springs was a turning point. “I began to realize that you can work with your community and together create a new shared vision. In the years that followed, the APAH repeated these complicated journeys over and over again. “When I think about the growth of APAH,” commented Janopaul, “I’m really proud of it. It’s about having the right people on the team, showcasing compelling building designs, posting data on urgent needs, sharing stories from displaced neighbors, and sitting in those little chairs. folding with others in the community for hours and hours. I think our work was really revolutionary. As we have done over and over again, we got really good at it. Our work with the long term planning process has created affordable housing where there was no zoning path and no possibility before.

The partnership has been as important to the growth of APAH as the planning. New CEO Carmen Romero proudly highlights Gilliam Place, APAH’s collaboration with the Arlington Presbyterian Church (APC). “There have been so many times along the way that the answer was ‘no’, or ‘it’s too hard’, or ‘too risky’,” Romero recalls, “but we never gave up. APC was our partner and we really believed in what they wanted to do.

The result is beautiful homes for 173 families. “But the multi-faceted project is also much more,” noted Romero. “It’s economic development and the creation of new businesses for entrepreneurs of color on the pike through our partnership with La Cocina VA. It’s about housing for young adults with autism and seeing a resident who can’t speak explain on video that living in Gilliam Place is like a dream. It’s about having a place where the APC congregation can worship and prosper. It is a beautiful open and contemplative space for the neighborhood. It’s bringing Governor Northam over to the property and announcing half a billion dollars in rent relief, then going around the property and touching the stone of the building that we had preserved and brought back from the Church of origin. I am so proud of what we have accomplished at Gilliam Place and how it inspires APAH and the community to imagine and achieve truly amazing results together.

Over the course of Gilliam Place’s seven-year journey, APAH’s tenacity has been tested time and time again. “I look back and there were so many challenges,” Romero recalls, “from surviving a $ 2 million flood towards the end of construction, a fire in the church before demolition started, to relocate and rebuild a daycare center that could have been destroyed, the business by the redevelopment, and get an emphatic ‘no’ from the National Capital Presbytery and return a year later to a standing ovation and a ‘yes’.

And we faced it all without ever having a mean word with our partner the whole time. “This is what I am most proud of: the resilience and commitment of APAH to honor their vision.

This power of partnership continues to fuel APHA’s growth. “I love to bring people to Gilliam Place and see them get excited,” Janopaul said. “I remember bringing people from American Legion Post 139, with whom APAH is now developing Terwilliger Place, and seeing them embrace that same spirit.” I think they saw what we did at Gilliam Place and said, “I want to work with a partner who will be there for me, a partner who will go out of their way to achieve our vision.”

“This same spirit of partnership also exists with the community,” added Janopaul. “The community of Arlington said we have this affordable housing master plan that says we need thousands more units, and APAH said, ‘OK let’s step up and do it. And don’t do it in a minor way. Let’s build 200 apartments. How can we work with our architects and with fundraising tools to help our community achieve its ambitious goals? When we opened Arlington Mill in 2015, we had a huge waiting list with 3,000 people. We knew people needed affordable housing, and it didn’t make sense to half do it.

It was this desire to serve, to truly meet the growing need for affordable housing in Arlington and beyond, that motivated APAH’s decision in 2018 to expand its work to other DMV jurisdictions. “As an organization, we’ve really refined our approach to planning and partnerships,” noted Janopaul, “and we want to bring these skills to other places. And we also want to continue to learn and innovate. Now that the APAH has projects in five jurisdictions, this has really broadened our horizons. We can see that the world is not just one cookie cutter. Some places have a lot of public land, others have funds, but no land to resell; some places are preservation oriented, others want new construction. I think the expansion helps APAH get into an even better version of itself, to be more agile and innovative.

As she prepares to become the new CEO of APAH, Carmen Romero completely agrees. “For me and for the APAH Board of Directors, geographic expansion has always been ‘both / and’, and I think that’s wonderful. I think we are a better partner for Arlington being also regional. It opens up the way we go about things, we see how other communities approach issues, and learn new tools and strategies.

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India reiterates concerns over digital currency trading Fri, 04 Jun 2021 22:34:31 +0000

India’s central bank reiterated its hesitation over digital currency after advising financial institutions that they would have to reverse a trade ban in 2018, Bloomberg reported on Friday (June 4th). The Reserve Bank of India (RBI) recently asked lenders not to cite a 2018 central bank circular as a rationale for preventing digital currency exchanges. A court had since overturned the order. “There is no change in the position of RBI,” RBI Governor Shaktikanta Das told the media, according to Bloomberg. “We have major concerns regarding the cryptocurrency, which we have conveyed to the government.”

In other news, Unchained Capital, Inc. unveiled the “initial closing” of a $ 25 million Series A capital raise led by NYDIG in addition to Stone Ridge Holdings Group, according to an announcement on Friday, June 4. . The Austin, Texas-based company is developing a financial services system for businesses and individuals who maintain long-term bitcoin wealth and wish to own a private key. “Historically, there has been a lack of investment in dedicated bitcoin infrastructure … but we expect this increase to be the first in a growing trend of all-bitcoin companies attracting capital investment at scale. that has long been deserved, ”Unchained Capital’s business development director, Parker Lewis, said in the announcement.

On another note, Progressive Care Inc. now allows people to pay in bitcoin for its COVID-19 rapid testing services at the company’s PharmcoRx locations, according to an announcement on Friday, June 4. Management noted in the statement that the move comes just before “the world’s largest Bitcoin conference” takes place this weekend, “drawing more than 50,000 visitors to Pharmco’s main market in the Miami metro area.” . According to the announcement, most international air carriers require testing based on the COVID-19 PCR, which PharmcoRx provides, as a “prerequisite for travel.”

And Anchorage Digital has unveiled Ethereum-backed institutional loans through Anchorage Financing, according to a Medium article. To this end, institutional clients can now leverage an “Ethereum-backed” US dollar line of credit through a BankProv partnership. “We are taking our full service offering for the cryptocurrency community to the next level,” BankProv CEO David Mansfield said in the announcement. BankProv is one of America’s oldest banks, having operated for over two centuries as The Provident Bank before its “modern rebranding” last year.



About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use – and how merchant acceptance can influence merchant choice and consumer spending.

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Global stocks near all-time high, dollar drops after US jobs data – Global Banking & Finance Review Fri, 04 Jun 2021 21:48:32 +0000

By Katanga Johnson

WASHINGTON (Reuters) – Global stocks rallied on Friday and closed near all-time highs, and oil and gold rose as the dollar fell after U.S. jobs data was solid but not as robust as expected, allaying investor fears that the Federal Reserve will soon reduce in monetary stimulus.

American employers increased their hires in May and raised wages. But the increase in the non-farm payroll of 559,000 jobs has landed below the 650,000 forecasts of economists polled by Reuters.

The pan-European STOXX 600 index rose 0.39% after hitting a record high this week. MSCI’s All-Country World Index, which tracks the shares of 50 countries around the world, gained 0.71%.

A stronger-than-expected jobs report would have heightened fears that the Fed is considering cutting its bond buying program and raising interest rates.

“This lower payroll number should alleviate investor worries about inflation – as long as the job market remains depressed, it’s hard to see wage inflation rise,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.

Zaccarelli added that there could be lingering concerns about headline price inflation as the Fed keeps rates low for longer amid an unprecedented fiscal stimulus.

Market whispers were more prominent, analysts said. US Secretary of Labor Marty Walsh in an interview with CNBC welcomed a “good and strong” employment report and predicted that more Americans would return to work in the coming months as that more would be vaccinated.

On Wall Street, Microsoft raised the S&P 500, followed by Apple, as the index gained 37.04 points, or 0.88%, to 4,229.89, marking a near-record overall jump of over 12% this year. These technology companies represent more than 5% of the weight of the MSCI all-country index.

Shares of Inc, Facebook, Alphabet’s Google and Tesla were also up.

The Dow Jones Industrial Average rose 179.35 points, or 0.52%, to 34,756.39 while the Nasdaq Composite added 199.98 points, or 1.47%, to 13,814.49.

So-called “memes stocks” continued to run wild, with AMC Entertainment Holdings’ shares showing little change but nearly doubling for the week.

Analysts said investors were monitoring the progress of proposed infrastructure spending in the United States. President Joe Biden has rejected a new proposal from Republican Senator Shelley Moore Capito, the White House has said. They were to meet on Monday.

10-year benchmarks last rose 20/32 for a return of 1.5585%, from 1.627%, while eurozone bond yields edged down as investors questioned the Fed policy.

Oil rose, with Brent surpassing $ 72 a barrel for the first time since 2019 as an OPEC + supply discipline and demand recovery.

The dollar index fell 0.39%, the euro up 0.36% to $ 1.2168. Strategists in a Reuters poll were almost evenly divided on the dollar’s near-term direction.

New orders for US-made products fell more than expected in April, as a global semiconductor shortage weighed on production of motor vehicles and electrical equipment, appliances and components.


Investors analyzed the economic data to assess whether inflation could force the Fed to change course.

“Will prolonged low-wage inflation allow a longer period of low headline price inflation to prevail?” Or will a Fed that is slow to raise rates – because it worries about a weak labor market – will create a higher-than-expected headline inflation regime? Said Zaccarelli of the Independent Advisor Alliance.

Spot gold gained 1.1% to $ 1,890.65 an ounce after falling 2% on Thursday, its strongest since February.

Overall Asset Performance

Global exchange rates

(Reporting by Katanga Johnson in Washington; editing by Jonathan Oatis and David Gregorio)

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UPDATE 1 pound erases the week’s losses as US jobs data pushes the dollar down Fri, 04 Jun 2021 13:31:00 +0000

* Chart: World exchange rates in 2020

* Chart: Trade-weighted pound sterling since the Brexit vote (Updates with move after US jobs data)

LONDON, June 4 (Reuters) – The British pound appreciated against the dollar on Friday and erased its losses against the greenback for the week, as weaker-than-expected US employment data pushed down the dollar from its recent highs.

A recent spate of strong economic data releases from the United States has propelled the dollar index – which measures the greenback against a basket of currencies – this week to its highest level since mid-May.

The gains came as investors expected the Federal Reserve to respond to a warming economy and adopt a tightening policy sooner than expected.

However, the release of jobs data on Friday sent the dollar down and gave the pound a little breathing space, which was previously set for its first week of losses in five. The pound is now on the way to end the week flat.

As of 1:11 p.m. GMT, the British pound was nearly 0.7% higher against the dollar at $ 1.4189. Against the euro, it was up 0.3% to 85.78 pence.

“I expect the pound sterling to maintain its gains against the dollar today as markets digest the disappointing impression of the NFP (non-farm payroll) in the context of what it means for policy from the Fed, “said Viraj Patel, global macro strategist at Vanda Research.

The pound, which has been the second best performing G10 currency against the dollar since the start of the year, has suffered from the strength of the dollar in recent days and fears that a new variant of the coronavirus spreading through the Britain will not affect plans to further reopen the economy.

The UK government will review plans to fully open the economy on June 14.

The pound sterling has been one of the best performing currencies in the G10 this year, at one point in the lead, as a bet for a rapid reopening of the UK economy thanks to the country’s vaccination program.

The positioning of speculators is always directionally net “long” on the pound, which means that the market is betting on the future gains of the currency against the dollar.

ING strategists have remained broadly positive on the outlook for the pound sterling despite the news.

“We doubt that the June 14 decision to fully open the UK economy will have a significant impact on the outlook for the pound,” they said in a morning note to clients.

“We believe there is good momentum behind the economy right now – enough to support the reasonably bullish BoE (Bank of England) set of forecasts and possibly maintain expectations that the BoE may tighten. before the Fed in 2H22. ” (Reporting by Ritvik Carvalho; editing by David Evans and Ros Russell)

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The CoinGeek Pulse Episode 47: Digital Currency Profit Tax, Southeast Asia Updates and 7th CoinGeek Conference in Zurich Fri, 04 Jun 2021 11:27:10 +0000

Nothing prevents government agencies from going after digital currency traders and their income.

In Australia, the Australian Tax Office (ATO) has issued a warning that profits in digital currency are not exempt from tax. According to ATO data analysis, more than 600,000 Australians have invested in digital currency in recent years. The ATO expects nearly 300,000 taxpayers to report their capital gains or losses in digital currency on their 2021 tax return.

“This year, we will write to approximately 100,000 taxpayers with cryptocurrency assets to explain their tax obligations and urge them to review their previously filed returns,” Deputy Commissioner Tim Loh said.

Loh said a big myth is that people think so-called “crypto” is a currency rather than an asset, which is how it is classified by the tax office. He was “alarmed” that people might think digital currency works in an anonymous digital world that gives them a license to ignore their tax obligations.

Meanwhile in the United States, a similar effort is underway. The Biden administration plans to toughen the tone against tax fraud, and digital currency is a concern.

Recently, the US Treasury proposed a plan that would require companies and stock exchanges to report to the IRS any digital currency transaction with a market value of $ 10,000 or more. This is a step towards better rules and regulatory policies in the United States that will help the country determine the value and use cases of digital currencies in the real economy.

In addition, according to the Treasury Department, the digital currency economy contributes to the American “fiscal gap” which is the difference between tax paid and tax due. The White House estimates a gap of $ 7 trillion over the next decade and would like to close it by going after digital currency traders who avoid paying their taxes.

Meanwhile, in Southeast Asia, governments are also stepping up their efforts in space.

Thailand, the land of smiles, plans to please few people in the DeFi space. The country is now looking into decentralized finance (DeFi) as part of its latest push to regulate the digital currency industry.

The country’s Securities and Exchange Commission (SEC) has announced that any activity related to DeFi may require a license from the financial regulator in the near future. The commission specifically said it would target DeFi protocols that issue tokens.

In Indonesia, plans for a CBDC are underway. The Bank of Indonesia’s announcement comes amid the growing adoption of digital payments in the country. The country is the latest global central bank to indicate a move towards a state-backed digital currency.

And in Singapore, DBS Bank, a multinational banking company, launched its very first security token offering (STO) by issuing a digital bond. Institutional or accredited investors registered with the DBS Digital Exchange (DDex) will be able to access the secondary markets for DBS digital bonds. The bank hopes its offer will pave the way for other issuers to launch STOs through the DDEx platform.

In the BSV ecosystem, the Handcash Hackathon for Non-Bitcoin Developers is finally taking place online June 14-28 with a current prize pool of $ 5,000.

Visit to learn more and to register.

Next week, the 7th CoinGeek conference kicks off in Zurich, Switzerland. Expect big announcements, giveaways, and opportunities to earn BSVs from June 8-10. You can watch and participate online and interact with other participants by registering at

New to Bitcoin? Discover CoinGeek Bitcoin for beginners section, the ultimate resource guide to learning more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.

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In Mysuru, a tribe dependent on bamboo weaving for a living suffers from a pandemic Fri, 04 Jun 2021 07:42:45 +0000

With the first and second waves of COVID-19 coupled with a lesser supply of bamboo, the Medha tribe’s art of basketry is slowly fading away.

Papanna sits in a chair in front of a variety of bamboo accessories that remain unsold. Her wrinkled tattooed face and arms sparkle in the morning sun. His experience in the business for over 65 years is not worth much in the face of the COVID-19 pandemic. It has been affected to such an extent that the bamboo trade appears uncertain. He was already affected as the supply of bamboo had become difficult and the pandemic acted like a double whammy. “My father and grandfather taught me the intricacies of this art, but my children and grandchildren are not as involved as I would like. You see, there isn’t a lot of profit and it takes a lot of hard work on our part, no one would want to do it anymore. It becomes incredibly difficult to keep doing what we’re doing, ”Papanna said almost to the verge of tears.

This art of making baskets, ladders, henhouses, small containers, bamboo trays (known locally as moras in Mysuru), baskets and bamboo hand fans is slowly dying. Without any government support and with COVID-19 worsening their income, these Medha tribe basket makers have no other occupation to rely on.

Gopamma sits on a stone slab in the sun, keeping bamboo baskets and chicken coops in front of her in the hope of making some money. Her face betraying the years she’s spent in the trade, Gopamma looks tired at 10 a.m. “It’s been days since I ate anything, I don’t even earn enough money to afford a square meal a day,” she says.

Without any building activity or wedding function, these bamboo objects are of no use to anyone. Uday Kumar sits under large ladders which are mainly used for construction activities. “With no construction activity going on, people don’t want to buy these ladders anymore. It has become very difficult to manage, I don’t even earn Rs 10 these days, ”he said sadly. He adds that he was making around 1,000 rupees a day during what he happily recalled the pre-COVID-19 days.

Medara Beedi in Nanjumulige is packed with people on a Thursday as the Mysuru district administration only allows markets to open on Mondays and Thursdays. Not a single customer goes to bamboo items even though the street is full of people.

Chaya’s face lights up when she thinks a customer wants to buy her something, but falls immediately when she realizes that she is going home empty handed, as she has been doing for a few months now. “We have not received any help from the government or anyone else. We will starve rather than COVID-19, ”she said.

Medha tribe selling bamboo products in Mysuru / Image courtesy: Sindhu Nagaraj

The Medha tribe is entirely dependent on making and selling bamboo handicrafts and without the proper support from the state government, it becomes very difficult for them to obtain bamboo, their main resource.

The Medha tribe depended on the forests of Nagarahole and Bandipur for bamboo, but the Forestry Department prohibiting the logging of trees for this trade, they turned to local farmers who cultivate bamboo.

Papanna, smiling sadly, remembers the good old days. He says, “Even if we take bamboo from local farmers, it is no longer available in abundance. When Mysuru was previously ruled by the royal family of the Wadiyars, they supported this art. They gave grants for bamboo and they also bought handicrafts at good prices. After the government took control of the administration, support waned and no one cares anymore. “

There are four streets in the Chamundipuram and Nanju Malige neighborhoods in Mysuru known as Medhara Beedi (road) and around 150-200 families from the Medha community live there.

Prathibha, former co-director of the Karnataka State Tribal Research Institute (KSTRI), in Mysuru, says the institute runs training programs twice a year to equip these people with the latest technology. “We are doing everything we can to prevent art from becoming extinct. We organize training twice a year to equip them with the latest technology, but given the age range of people involved in this art, the transition has still not taken place, ”she says.

After the first wave of the COVID-19 pandemic, KSTRI had considered providing the latest machines to the Medha tribe to effectively monetize their production, but professionals say they haven’t received anything since the pandemic hit.

Rajesh Gowda, current co-director of KSTRI, says that so far the government has not provided any kind of compensation to any of the tribal communities. “The Medha tribe, which is mainly involved in basket weaving, has suffered a lot because of the pandemic. Their livelihoods have been affected and we are considering including them in the government’s compensation proposal, ”said Rajesh Gowda.

Vijaya Kumar, one of the coordinators of Karnataka Rajya Moola Adivasigala Rakshana Vedike in HD Kote taluk is saddened by the government’s indifference to tribal communities. “Tribal communities have no fundamental rights and the idea of ​​compensation is far-fetched. The Medha community works day and night all year round without basic support, ”he says.

Someshekhar, another coordinator shares Vijaya’s emotion. “The government should at least include the Medha tribe in a compensation range, and the government should also come forward to form support groups and cooperative societies in Mysuru so that bamboo sourcing and trading becomes easier,” he said.

There are not many NGOs or support groups working for the welfare of tribal communities. For people like Papanna and Gopamma, getting help from the government is far from a reality given the priority. “COVID-19 on one side, hunger on the other, I don’t know which will get to me first,” Gopamma sighs, removing his face mask.

Also read: Tribal hamlets that escaped the first wave of COVID-19 are now fighting the second wave

Sindhu Nagaraj is a Mysuru-based journalist. She enjoys books, theater, politics and wildlife.

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Growth will be: the future position of the RBI for the economy is very clear now Fri, 04 Jun 2021 05:47:00 +0000

The policy of the Reserve Bank of India (RBI) comes at a critical time when the economy is in the midst of a confused lockdown with different perspectives on growth and a direction set for inflation. The Monetary Policy Committee (MPC) has reiterated the accommodative stance in the past, and so the bottom line is that the repo rate is unlikely to be increased in the near future.

Some of the important signals provided are as follows. First, the growth outlook and here the RBI cut the forecast down to 9.5% which is now closer to what most analysts have done (CARE is 8.8-9%) . Single digit growth looks less attractive than double digit growth. In fact, the rate would decrease over the quarters sequentially. Therefore, it also supports the MPC’s view that growth is weaker than expected and therefore requires the support of the monetary authority.

The second view is on inflation, which remains unchanged at 5.1 percent for the year. This may need to be stepped up given that a major concern today has been the rise in global prices of commodities, which are not only metals but also oils – edibles and fuels. The World Bank has been talking about big increases this year, which was already seen in the WPI last month (although it is true that the low base has played its part). There is also the bet that food prices will remain stable with a good monsoon forecast.

Third, is about liquidity. This has been a major driving factor in the system with various liquidity incentives announced even in May. The RBI has kept pace with the measures announced this time around as well. A signal that needs to be raised is that the Special Long Term Repo Operation (SLTRO) has not elicited a response from the banks as only Rs 400 crore was recovered in the first auction. There is an addition of Rs 15,000 crore for high contact sectors like hotels, tourism etc which is very necessary and more likely to be successful as this segment has been shaken twice. As most would fall under the SME category, this will be helpful.

The second phase of the government securities acquisition program (GSAP 2.0) was more or less as expected, as the RBI will continue to purchase more paper to support the system. Interestingly, the government would also borrow about 1.5 trillion more rupees this time around to compensate states for GST collection deficits. Thus, the total of Rs 2.2 trillion of GSAP in the first half of the year will help support this operation.

On liquidity, the RBI seems to persevere in its dual objective. The first is to keep the system in surplus even after meeting all the requirements of the borrowers. This has been done successfully throughout the last year and this year so far given the large daily flows to reverse repo auctions. The other is to actually work on the yield curve to make sure it performs well. It also means that yields will remain low, which is in the best interest of the government as there is a large borrowing program that needs to be facilitated this year. These measures will certainly make it possible to achieve this objective. The yield on 10-year bonds will therefore remain around 6%.

One point made by the RBI was to pay attention to the banks’ provision requirement and capital buffers. It might just indicate some concern about the possible increase in stressed assets this time around due to the lockdown due to Wave 2.

The market reaction has been quite stoic. There isn’t much change in the frontline indices: the currency is still around 73 and the 10-year yield barely crosses 6%.

(Madan Sabnavis is Chief Economist at CARE Ratings and author of “Hits & Misses: The Indian Banking Story”. The opinions expressed in the article are his own.)

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Gold Price Analysis: XAU / USD Bulls Intervene On Weekly Liquidity, Eyes On A Correction Before $ 1,850 Thu, 03 Jun 2021 18:41:36 +0000

  • Gold fell to break through an important support zone and make bullish commitments to weekly liquidity.
  • The market is now focused on the downside as the bulls in the US dollar shift into high gear.
  • Gold Price Analysis: XAU / USD Brings $ 1,857 Target After Big Crash – Confluence Detector

The price of gold was rocked Thursday as the US dollar emerged ahead of a much anticipated nonfarm wage event on Friday.

The greenback, measured against a basket of currencies in the DXY index, is trading near New York session highs at 90.51, up 0.67% after falling from a low of 89.8870 to a high of 90.5510 so far.

Gold, on the other hand, is trading near the day’s lows of $ 1,871, losing 1.92% after tumbling like a stone from a high of $ 1,909.69 to a low of 1,865, $ 36. In doing so, he broke a key area of ​​short-term support and highlighted long-term charts and downside targets; (More details below).

Meanwhile, the spotlight is on the US economic recovery, inflation and the Federal Reserve.

Stronger-than-expected US employment data that suggests an improving labor market has reinforced signs that the world’s largest economy is indeed on track for a post-covid recovery that should spur the Fed to act sooner rather than later.

For example, Dallas Fed CEO Robert Kaplan reiterated today, “I think it would be better to gradually release the accelerator on QE rather than having to brake later.

Meanwhile, and in terms of data and a potential prelude to tomorrow’s NFP, the US private sector payroll increased by 978,000 jobs in May, ADP’s national employment report showed.

This is the biggest increase since June 2020 and well above what economists polled by Reuters had predicted of an increase of just 650,000 jobs.

At the same time, initial jobless claims in the United States fell below 400,000 last week for the first time since the COVID-19 pandemic began more than a year ago.

Such data improvements could set the tone for central bank meetings later this month.

For NFP, the consensus forecast of Wall Street economists was 650,000 new jobs in the United States last month.

Meanwhile, ISM Sevices data was also released today, and the greenback’s momentum stopped around the same time as the release, potentially due to the jobs component that has shifted. from 58.8 in April to 55.3. This is not promising until tomorrow’s NFP, given that the vast majority of jobs created in a post-pandemic world are expected to be in the service sector.

Nonetheless, the market may continue to consider that, however strong a rebound in job creation may be, the fact is that the US economy is recovering at a faster rate than the Fed might have imagined this past. times a year ago.

In addition, the Federal Reserve has already started to unwind some of its asset purchases.

On Thursday, the New York Fed announced that it would begin to phase out its portfolio of exchange-traded funds that invest in corporate bonds on June 7, the first step in unwinding the holdings of corporate bonds acquired during the pandemic.

Meanwhile, the greenback was already on solid footing before economic reports, with currency investors betting the data will come out better than market forecast.

In addition, risk sentiment has deteriorated as investors have become cautious, which tends to strengthen the greenback.

However, other factors at play, such as a weaker crypto space as well as recent moves throughout this week by the People’s Bank of China which mainly intervened to weaken the onshore yuan, are helping to support the greenback. and consequently to weigh on the prices of gold.

This prompts traders to look to the USD / CNY for a broader direction of the market and greater force could suggest more pressure on latent short positions in the USD.

As for the inflation outlook, analysts at TD Securities note that “global food prices have risen at the fastest rate in a decade according to the UN, fueling fears of inflation in the markets.”

On the flip side, analysts have warned that “if inflation is indeed transient, we will likely see a prolonged period of super-easy monetary policy, suggesting that the market prices for the Fed hikes are too much.” belligerent and ultimately that gold prices could firm up further.

Gold technical analysis

As noted above, the price has broken a key short-term support structure.

On the 4 hour chart it is shown that the old dynamic support was broken, retested as a countertrend that held up and then gave way to a sell off.

Price has since hit an earlier area of ​​weekly and shorter-term liquidity and has started to correct from there.

One would expect price to correct to at least a 38.2% Fibonacci retracement of the bearish momentum where a confluence of previous lows is found.

Meanwhile, if the market continues to melt before such a retracement or after a significant correction, then the 1840/50 decline will be the focus of attention.

Weekly chart

Gold Price Analysis: XAU / USD Brings $ 1,857 Target After Big Crash – Confluence Detector

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Struggle against Critical Race Theory hits State House Thu, 03 Jun 2021 14:14:41 +0000

On May 25, Judge Kim Leet Razor presided over:

Steven Thomas Baker, 33, interference in custody, pre-trial conference June 15.

Brittany R. Berryman, 33, illegal right-of-way over $ 500, first offense of unauthorized use of motor vehicle, failure to appear, warrant for arrest issued.

James D. Boggs, 46, operating with suspended / revoked license, failure to maintain insurance, unexpired / expired license plates, failure to register motor vehicle transfer, not guilty plea, pre-hearing conference trial on June 1.

James D. Boggs, 46, seat belt failure, suspended / revoked license operation, unexpired / expired Kentucky registration receipt, failure to notify DOT of change of address, not guilty plea , pre-hearing conference on June 1

James David Boggs, 46, drug paraphernalia, possession of marijuana, first degree possession of controlled substances, first offense, second degree disorderly conduct, not guilty plea, preliminary hearing June 1.

James Walter Elswick, 61, resident fishing without a license, failure to report, notify the Department of Fisheries and Wildlife.

Kari Anne High, 33, drug paraphernalia, not guilty plea, pre-hearing June 22.

Josephine Hollingsworth, 33, local city ordinance, fined $ 25 plus court costs.

Josephine Hollingsworth, 33, authorizing unlicensed driver to operate motor vehicle fined $ 50 30 days are serving parole, no driver’s license is denied and court costs waived.

Dontae Pierre Jackson, 37, no operator license, no appearance, arrest warrant issued.

Anthony P. Morick, 29, non-resident fishing without a license, licensed with proof.

Charles Thomas Poe Jr., 59, receiving stolen goods, not guilty plea, preliminary hearing June 1.

Charles Thomas Poe Jr., 59, possession of marijuana, drug paraphernalia, not guilty plea, pre-hearing June 1.

David Allen Ritchey Jr., 30, excessively tinted window, dismissed with receipts.

David Allen Ritchey Jr., 30, excessively tinted window rejected with proof, license of possession rejected with proof, failure to purchase insurance rejected with proof, unexpired Kentucky registration receipt rejected with proof.

Joah Samuel Schricker, 21, non-resident fishing without a license, failure to report, notify the Ministry of Fisheries and Wildlife.

Kenneth Arthur Sims, 28, no stop lights, no appearance, summons June 22.

Jerrod Robert Taylor, 40, theft by illegal taking under $ 500, pre-trial conference July 6.

Jeffrey Thomas Teegarden, 53, first degree controlled substance possession first offense, third degree controlled substance possession, drug paraphernalia, not guilty plea, preliminary hearing June 1.

Kuper Ray Teegarden, 19, seat belt not worn, failure to appear notify DOT.

Geoffrey A. Thornsburg, 24, resident fishing without a license, licensed with supporting documents.

Alexander Scott Vice, 23, suspended / revoked license, first degree trafficking in controlled substances first offense, first degree possession of controlled substances first offense, first degree flight or escape from police, first degree possession of substances controlled rape drugs, plea of ​​not guilty, preliminary hearing June 1.

Vincent Leonard Winey, 20, speeding 10 miles over limit, failing to show up, advises DOT.

Kristen M. Wood, 28, failure to wear seat belt, failure to appear, notify Department of Transportation, failure to produce rejected insurance card with proof, rejected possession license with proof.

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sensex today: Stock Market Live Updates: Most sector indices in green. Metals, real estate and sugar stocks are recovering. Titan, RIL among the best Nifty winners. India The VIX drops sharply by 8%. Thu, 03 Jun 2021 04:06:00 +0000

Sensex and Nifty start the day on a high note amid long interest in computer and financial stocks. Titan is the top Nifty50 winner in early trades. RIL, Hindalco, Adani Ports and ONGC among other top notch winners. Most sector indices in green. Sugar, metals and real estate stocks are recovering. Bajaj Auto, Cipla and Nestlé among the latecomers on Nifty.

!1 new updateClick here for the latest updates

Top winners and losers in a larger market

Prestige Estates, Adani Total Gas, LIC Housing, Balrampur Chini Mills, Rossari Biotech and Mazdock Shipbuilders are gaining space while UTI AMC, KEC International, CDSL, Indiamart Intermesh, Bharat Forge and Gujarat Gas are under selling pressure.

Yields, dollar decline

The 10-year US Treasury yield fell below 1.60%. The dollar index abandoned its gains overnight and traded around 89.913 against its rivals. This makes emerging markets like India more attractive to foreign investors.

Stock filter

Find, select and invest in the best stocks

Asia shares 3-month highs

Japan’s Nikkei added 0.4%. Australian stocks hit all-time highs as investors applauded stronger-than-expected economic growth data released on Wednesday.

Bull markets can surprise on the upside. It is therefore logical to remain invested in this market. Bank Nifty still has room to go up. Investors should remember that at high valuations, corrections can occur at any time

– Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The midcap and small cap indices continue to outperform; PNB Housing Finance jumps by 10%

Candle sifter

Discover and filter business opportunities

India VIX drops sharply 8% to 15.9

Most Sensex stocks open in green; RIL first contributor to Sensex earnings

OPENING BELL: Sensex climbs 300 points, Nifty50 exceeds 15,650; sugar stocks go up to 10%

Wipro sells its stake in Denim Group for Rs 160 crore

Computer company Wipro sold its entire stake in Denim Group for $ 22.42 million (around Rs 160 crore). In March 2018, Wipro acquired a 33.33% stake in Denim Group Ltd and Denim Group Management, LLC, an independent application security company, for $ 8.83 million, Wipro said in a filing. regulatory.

Fourth Quarter Results Today

General Insurance Corporation of India, APL Apollo Tubes, Gujarat State Petronet, Quess Corp, Nilkamal, Arvind Fashions, Cupid and Roto Pumps are among the companies that will report their March quarter results today.

Pre-open session / l Sensex wins 170 points, Nifty over 15,650

SGX Nifty reports a positive start

The crafty futures on the Singapore Stock Exchange traded at 80.50 points, or 0.52%, at 15,710 points, a sign that Dalal Street was heading for a positive result on Thursday.

Technical view: Nifty50 turns sideways

Nifty50 on Wednesday closed flat after trading in the negative zone for most of the session. The index ended up forming a small bullish candle on the daily chart, with a long lower wick, suggesting that the bulls weren’t ready to give way easily. Analysts said the general trend remains bullish, despite the intermediate sideways move.

Dollar index stagnates, Brent approaches $ 72 a barrel

The dollar index, which measures the greenback against a basket of major currencies, held steady at 89.899, not far from a five-month low of 89.535 reached last week. Brent rose 24 cents to $ 71.59 a barrel, its highest level since January 2020. US West Texas Intermediate (WTI) crude rose 25 cents to $ 69.08 a barrel, its highest level since October 2018.

Asia shares 3-month highs

Asian stocks were slightly below a recent three-month high on Thursday, with China slightly weaker as investors weighed in inflation concerns ahead of major US economic data as oil prices hit record highs. peaks close to a year and a half. The largest MSCI index of Asia-Pacific stocks excluding Japan rose 0.3% to 711 points. Japan’s Nikkei added 0.4 percent. Australian stocks have hit all-time highs. Chinese stocks were slightly weaker.

US stocks have stabilized

Wall Street stocks ended slightly higher as oil-related stocks continued to rally and AMC, the darling of retail investors, soared. The Dow Jones Industrial Average ended up 0.1% at 34,600.38. The broad S & P500 index also rose 0.1% to close at 4,208.12, as did the technology-rich Nasdaq Composite Index, which finished at 13,756.33.

The rupee slips for the 3rd day, closes below 73

Extending losses for the third session in a row, the rupee fell another 19 pounds on Wednesday to end at 73.09 against the US dollar amid a stronger dollar in foreign markets and higher crude oil prices.

Sensex, nice wednesday

Stock indexes staged a smart rally from intraday lows to close flat for the second straight session on Wednesday, as a surge from the market heavyweight RIL offset the recognition of profits in FMCG, finance and IT counters. . After falling to a low of 51,450.58 in the late afternoon, the BSE Sensex regained lost ground to finish at 85.40 points or 0.16% decline to 51,849.48. The broader NSE Nifty index rose 1.35 points or 0.01% to close at 15,576.20.

Hello dear reader! Here’s something to start your trading day

Hello dear reader!  Here's something to start your trading day

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