OANDA – Maintaining Continuity At The Fed, Stocks Rally, Us Data, Stronger Dollar As Yields Rise, OPEC+ Plays Hardball, Gold Hurt, Bitcoin Struggles

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Despite rising pressure from progressive Democrats for a switch at the head of the Fed, President Biden decided that he doesn’t want to change horses in midstream. US stocks are rising as continuity at the Fed remains. Financials surge following Biden’s decision to renominate Fed Chair Powell as financial markets price in more rate hikes and since Lael Brainard got the second top post and not Vice Chair for Supervision. This does not signal the banks are in the clear as they could see an even tougher regulator announced shortly. Q3 2021 hedge fund letters, conferences and more US DataThe housi…

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