"THE DOORS ARE OPEN". FED ON FUTURE RATES Dear clients, The US Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, with Fed Chairman Jerome Powell saying the economy still needs to slow and the labour market to weaken for inflation to return "credibly" to the 2% target set by the US central bank. The rate hike, the Fed's 11th in the past 12 meetings, set the benchmark overnight interest rate at a range of 5.25% to 5.50%, a level last seen before the housing market crash in 2007 and which hasn't been exceeded in about 22 years. "The Federal Open Market Committee will continue to assess additional information and its implications for monetary policy," the Fed said in a statement that differs little from the June 14 statement and leaves open the central bank's policy options in search of a stopping point for the current tightening cycle. In addition, central bank officials are no longer forecasting a recession in the US. "So the staff's forecast now includes a marked slowdown in growth starting later this year, but given the recent resilience of the economy, they are no longer forecasting a recession," the Fed chairman said. Powell made no promises either way: the September meeting, eight weeks away, is considered "live" for another rate hike, although a continued slowdown in inflation and weaker economic data could also prompt policymakers to take a pause. However, he cautioned against expecting any rate easing in the near future. "We'll be comfortable cutting rates when we're comfortable cutting rates, and that won't be this year," Powell said. ANSWER THE SIGNAL Dear clients, We have already started trading on AI signals and have the first results. We are glad to see the positive response among the audience and believe that such activity should be encouraged. From July 27 to August 1 participating in trading on signals, post photos or videos of trades with hashtags #AIsignals #freshforex on FB and IG, the author of the post with the most likes will get $50 to their account. Contest terms and conditions: 1. The contest period is from July 27 to August 1, 2023. 2. To participate in the promotion you must: 2.1. Have a real trading account with FreshForex and confirmed personal data. You can open an account at the link. The trading account is required to receive the prize. 2.2. Be subscribed to FreshForex communities in social networks Facebook, Instagram. 2.3. Publish a photo or video on your personal Facebook, Instagram, VKontakte page about how you trade with FreshForex using artificial intelligence signals. 2.4. The hashtags #AIsignals #freshforex must be included in such publication. Publications without hashtags will not be accepted. The number of posts is not limited. 2.5. Photo, video or text posts violating the rules of social networks, as well as those containing obscene or defamatory content, as well as content not related to trading on FreshForex signals will be removed. 3. The winners in each social network will be determined on August 1 by the number of "Likes" on the post. 4. The winners of the contest in each social network will receive $50 as a prize for a real trading account with FreshForex. The prize will be credited to the winner's account within 3 business days after the end of the contest and will be available for trading or withdrawal from the moment it is credited. Show off and win! ADVERTISING INTELLIGENCE. META'S AD REVENUES Dear clients, Meta shares rose nearly 8% on Thursday as an encouraging revenue forecast showed that artificial intelligence is helping the social media giant increase engagement and ad sales even in a volatile economy. The market value of the company, which owns Facebook, was set to rise by about $60 billion after strong second-quarter earnings prompted 18 analysts to raise their target prices for the stock, which has already more than doubled this year. Although Meta's 12% growth in ad revenue in the second quarter outpaced Google's 3% growth, earnings reports from both digital advertising giants confirmed a rebound in the sector. Meta and Google have a combined market capitalisation of around $160 billion in the near term, exceeding the individual market value of around 90% of the companies in the S&P 500 index. Meta's results were also boosted by improved monetisation of Reels, the short video format that is the company's answer to TikTok. According to CEO Mark Zuckerberg, annual revenue from Reels exceeds $10 billion, up from $3 billion last autumn. The positive view from analysts confirms that a focus on cutting costs and boosting engagement through artificial intelligence has helped Meta emerge as a Wall Street favourite this year after being derided for much of 2022 for huge spending on the ambitious metaverse. Meta's accelerating revenue growth has helped allay some fears about an expected surge in costs in 2024 due to legal fees and rising infrastructure costs, which are seen as key to the tech sector's feverish AI race.
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