Upcoming shows
Real News

NOW ON AIR
Now On Air

Real News with David Knight

9:00 am 12:00 pm



Maga First News

Upcoming Shows

Join The MAGA Network on Discord

0 0

Lawsuit: Boy's foot crushed on Universal Studios' E.T. ride

A lawsuit claims an 11-year-old boy visiting from Brazil had his foot and leg crushed at the end of the E.T. Adventure ride at Universal Studios in Orlando.

The Orlando Sentinel reports the boy's mother Roberta Perez sued in Orange County Circuit Court and seeks at least $15,000 in damages.

Attorney Edmund Normand said it appears Tiago Perez's left foot got stuck between the ride's vehicle and the cement offloading area, breaking multiple bones in his toes, foot and leg.

The lawsuit claims Universal knew that the "design, manufacture, testing, construction and/or operation" of the ride "created an unreasonably dangerous ride."

The lawsuit noted that the child didn't speak English and couldn't read any warning signs during his visit to the theme park on Jan. 31.

Universal declined comment.

Source: Fox News National

0 0

Trump dismisses Mar-a-Lago breach as ‘just a fluke,’ denies knowing Cindy Yang

President Trump on Wednesday commended Mar-a-Lago staff and the U.S. Secret Service after a woman accused of illegally entering the Palm Beach club property was taken into custody. The president also said he's not concerned about China trying to spy on him at his Florida resort.

Yujing Zhang, 32, was arrested at Mar-a-Lago on Saturday after she was found wandering the resort with two Chinese passports and malware, according to a criminal complaint filed in the U.S. District for the Southern District of Florida on Monday.

WOMAN ARRESTED AT MAR-A-LAGO CLUB WITH 2 CHINESE PASSPORTS, MALWARE, FEDS SAY

"I think it was just a fluke situation. I think that the person sitting at the front desk did a very good job, to be honest with you," the president told reporters, seemingly referencing a club receptionist who reportedly asked Zhang why she was on the property.

Trump said the receptionist "did a very, very good job" and "was able to see things that other people were not." Zhang was cleared by the Secret Service "due to a potential language barrier issue," after a club manager thought she was related to a member of Mar-a-Lago with the same name.

Zhang first allegedly said she was there to visit the pool, and later allegedly said she was at the club for a United Nations Chinese American Association event to take place later that day — an event which the receptionist knew wasn't scheduled.

Secret Service Agent Samuel Ivanovich wrote in court documents that Zhang could speak and read English well, and said she claimed to have traveled from Shanghai to Florida after someone named "Charles," whom she met on a Chinese social media app, told her to "attend this event and attempt to speak with a member of the President's family about Chinese and American foreign economic relations."

She was removed from the property and found to have been carrying four cellphones, a laptop computer, an external hard drive and a thumb drive containing computer malware. She did not have a swimsuit.

NATO CHIEF, IN SPEECH TO CONGRESS, DECLARES TRUMP'S PUSH FOR MORE DEFENSE SPENDING IS WORKING

When asked on Wednesday if he was concerned that the incident was China attempting to conduct espionage against the U.S., Trump said he's "not concerned at all."

He said "probably we'll see what happened — where she's from, who she is — but the result is they were able to get her, and she's now suffering the consequences of whatever she had in mind."

Zhang has been charged with making false statements to federal agents and illegally entering a restricted area. She remains in custody pending a hearing next week.

There has been no indication Zhang was ever near the president, who was golfing at Trump International Golf Club in West Palm Beach on Saturday.

CLICK HERE TO GET THE FOX NEWS APP

And there has also been no indication that she is connected to Li Yang, a Chinese native, Republican donor and former Florida massage parlor owner who goes by "Cindy." Yang recently made news after she allegedly promised Chinese business leaders, via her consulting firm, access to Mar-a-Lago where they could mingle with the president.

Trump on Wednesday denied knowing Yang, telling reporters: "I don't know her. I don't know who she is. Who is that?" He attributed a photo with her, taken at Mar-a-Lago, to selfies he takes with fans.

The Associated Press contributed to this report.

Source: Fox News Politics

0 0

White House Statement Hits Democratic Candidates on Israel

The White House is claiming the entire slate of Democratic presidential candidates has failed to adequately condemn anti-Semitism and consistently rejected the need to protect Israel.

The sweeping statement issued Saturday by White House spokesman Hogan Gidley comes after Democratic presidential candidate Beto O'Rourke compared the rhetoric used by President Donald Trump to describe immigrants to the rhetoric used in Nazi Germany.

O'Rourke made the comments during multiple campaign stops in Iowa on Thursday. The White House did not respond to a request for comment at the time.

Instead of directly addressing O'Rourke's comments, the statement from Gidley sought to attack the Democratic party on the same day that Trump is scheduled to speak at the annual meeting of the Republican Jewish Coalition in Las Vegas.

Source: NewsMax Politics

0 0

Pentagon appoints officer to do new review of Niger attack

Acting Defense Secretary Patrick Shanahan has appointed a four-star officer to take another look at the military's investigation into the 2017 attack in Niger that killed four U.S. soldiers, and review whether additional punishments should be meted out.

In a statement Thursday, the Pentagon said the investigating officer will do a "new, narrowly-scoped review" and give Shanahan recommendations on whether the reprimands already made were appropriate. The officer's name was not released.

Officials have said that nine individuals have been held accountable for lapses in training and other mission preparedness. The punishments have largely been letters of reprimand. But officials and members of Congress have questioned whether more senior officers should be disciplined. Officials spoke on condition of anonymity to discuss personnel actions.

The initial investigation found multiple failures leading up to the October 2017 attack, but determined that none of those shortfalls directly caused the overwhelming enemy ambush and firefight, which also killed four Nigerien troops, wounded a number of forces from both countries, and sent troops running for their lives.

That investigation report came out last May, detailing a series of "individual, organizational, and institutional failures and deficiencies that contributed to the tragic events." But it concluded that "no single failure or deficiency was the sole reason" for what happened.

It said the U.S. forces didn't have time to train together before they deployed, and did not do preparatory battle drills with their Nigerien partners. And the report said lax communication and poor attention to details led to a "general lack of situational awareness and command oversight at every echelon."

Since then, administrative actions — mainly the letters of reprimand — were taken against nine individuals, including Maj. Gen. Marcus Hicks, who was serving as the commander of special operations forces in Africa at the time. He was the most senior officer punished, leading some to question whether other more senior leaders had unfairly escaped unscathed.

In addition, a number of troops, including those killed, have been recommended for valor awards, mainly Silver Stars and Bronze Stars. But none of those have been announced either.

During a House Armed Services Committee hearing last week, Rep. Ruben Gallego, D-Ariz., peppered Shanahan with questions about the lengthy delay in any announcements and when final decisions would be made.

Shanahan said he was aware that his predecessor, Jim Mattis, had received final recommendations and had been reviewing them. But, Shanahan said, "I did not find that sufficient. So, I convened my own review so I can insure from top to bottom as the appropriate accountability."

Gallego said he wanted to be sure the Pentagon review didn't simply place all the blame on junior officers and let senior officers "off the hook."

"These families and the American public deserve to know exactly what happened, and the junior officers that are being reprimanded right now should know that there's going to be equal reprimands, especially for general officers, should they have done anything wrong," said Gallego.

Shanahan responded that the fundamental reason he is doing his own review is to be certain there is a full accounting, from the troops on the ground to the most senior officer.

The U.S. military in Africa has taken a number steps to increase the security of troops on the ground, adding armed drones and armored vehicles and taking a harder look at when American forces go out with local troops. Gen. Thomas D. Waldhauser, head of U.S. Africa Command, has said that the U.S. has cut the response time needed for medical evacuations.

U.S. Special Operations Command has made changes in pre-deployment and readiness training, and addressed other staffing and decision-making shortfalls. The changes include insuring that forces conduct training together before they deploy and the exercises must be evaluated by a senior officer.

The review found that a large personnel turnover after training but before deployment led to some of the problems with the team in Niger.

Source: Fox News National

0 0

Scotland avalanche victims were 2 Frenchmen, 1 Swiss

Police in Scotland say the three people who died in an avalanche on Britain's highest peak were two Frenchman and a Swiss national.

The three perished Tuesday in an avalanche on Ben Nevis. Two died immediately while the third victim died before rescuers could get him to the hospital.

Police said Wednesday that a fourth person who was injured was also a Swiss national. He is in stable condition at Queen Elizabeth University Hospital in Glasgow. The men ranged in age from 30 to 43.

Ben Nevis, located in the Scottish highlands, stands nearly 1,344 meters (4,409 feet) above sea level.

Source: Fox News World

0 0

Defiant Schiff maintains results of FBI’s original Russia probe ‘not yet’ known, despite Mueller conclusion

Facing calls from Republicans to step down over his "collusion" claims, House Intelligence Committee Chairman Adam Schiff on Thursday maintained there is still much to learn following the end of Robert Mueller’s Russia investigation—shifting focus to the original FBI counterintelligence probe that started it all.

A summary of Mueller’s report was released by Attorney General Bill Barr over the weekend and announced that after an exhaustive investigation that lasted nearly two years, the special counsel found no evidence of collusion between members of the Trump campaign and the Russians during the 2016 presidential campaign.

TRUMP VOWS TO RELEASE FISA DOCS NOW THAT MUELLER PROBE IS CONCLUDED, SLAMS 'TREASONOUS' FBI

But while some version of Mueller’s report will likely be released in the near future, Schiff, D-Calif., said during a committee hearing on Thursday that the most important pieces of information would come from the original counterintelligence investigation launched under former FBI Director James Comey.

“We do not yet know the result of the counterintelligence investigation led by Comey and then Mueller,” Schiff said in his opening statement. “It is not clear whether, or to what extent, the Mueller report, which is focused on prosecutorial decisions, will even discuss counterintelligence findings.”

He added: “But the counterintelligence concerns that animated the investigation in the first place may ultimately have the more profound impact on our security and policy, and we therefore await the publication of the Mueller report to find out.”

The comments come as all Republicans on the committee called on Schiff Thursday to step down as chairman, over his repeated claims to have evidence of collusion. “Your actions both past and present are incompatible with your duty as Chairman of this Committee,” their letter to Schiff stated. “We have no faith in your ability to discharge your duties in a manner consistent with your Constitutional responsibility and urge your immediate resignation as Chairman of this Committee.”

A day earlier, Schiff told The Daily Beast that he has started negotiations with the intelligence community to get answers about the Mueller investigation’s findings, and reportedly signaled that the FBI’s counterintelligence probe that evolved into the Mueller investigation could still be ongoing.

“At this point, we don’t know whether any of the counterintelligence findings are part of the Mueller report,” Schiff told The Daily Beast. “We have initiated discussions with the intelligence community to make sure that we obtain whatever is found in the counterintelligence investigation, or whether [that inquiry] is still ongoing.”

The FBI declined to comment to Fox News when asked if the initial counterintelligence probe led by the bureau was ongoing or complete.

The FBI’s initial counterintelligence probe began in the summer of 2016 and was internally called “Crossfire Hurricane.”

Former FBI counsel Lisa Page said during a transcribed interview with the House Judiciary Committee last year that the FBI only had a “paucity” of evidence at the start of the investigation. Page also said the FBI “knew so little” about whether allegations against the Trump campaign were “true or not true” at that time.

LISA PAGE TRANSCRIPTS REVEAL DETAILS OF ANTI-TRUMP 'INSURANCE POLICY,' CONCERNS OVER FULL-BLOWN PROBE

President Trump, this week, vowed to release the full and unredacted Foreign Intelligence Surveillance Act (FISA) warrants and related documents used by the FBI to probe his campaign and former campaign aide Carter Page.

Redacted versions of the FISA documents already released have revealed the FBI extensively relied on documents produced by ex-British spy Christopher Steele, who worked for Fusion GPS—a firm hired by the Hillary Clinton campaign and the Democratic National Committee to compile opposition research on Trump. The FBI relied on much of Steele’s work to obtain the warrants to surveil Carter Page.

“I have plans to declassify and release. I have plans to absolutely release," Trump said during an exclusive interview on “Hannity” Tuesday night. "I have some very talented people working for me, lawyers, and they really didn't want me to do it early on. ... A lot of people wanted me to do it a long time ago. I'm glad I didn't do it. We got a great result without having to do it, but we will. One of the reasons that my lawyers didn't want me to do it, is they said, if I do it, they'll call it a form of obstruction."

Trump added: "At the right time, we will be absolutely releasing."

Fox News' Gregg Re contributed to this report. 

Source: Fox News Politics

0 0

O'Rourke Vows to Stop Using F-Word on Campaign Trail

Democratic presidential candidate Beto O'Rourke says he's never taken the illegal drug LSD and there's "nothing" he hasn't already revealed about his past that could hurt his candidacy.

O'Rourke also committed Sunday during a stop in Madison, Wisconsin, to stop using the F-word while campaigning, a profanity he used frequently while running for the U.S. Senate in Texas and while exploring his presidential bid.

O'Rourke was asked about his past drug use after signing a person's skateboard. Another voter asked O'Rourke if he was going to "clean up his act" and stop using profanities, especially in front of his children.

O'Rourke says "great point, and I don't intend to use the F-word going forward. Point taken, and very strongly made. ... We're going to keep it clean."

Source: NewsMax Politics

NOW ON AIR
Now On Air

Real News with David Knight

9:00 am 12:00 pm



FILE PHOTO: Supporters of the Spain's far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville
FILE PHOTO: Supporters of the Spain’s far-right party VOX wave Spanish flags as they attend an electoral rally ahead of general elections in the Andalusian capital of Seville, Spain April 24, 2019. REUTERS/Marcelo del Pozo/File Photo

April 26, 2019

By John Stonestreet and Belén Carreño

MADRID (Reuters) – Spain’s Vox party, aligned to a broader far-right movement emerging across Europe, has become the focus of speculation about last minute shifts in voting intentions since official polling for Sunday’s national election ended four days ago.

No single party is anywhere near securing a majority, and chances of a deadlocked parliament and a second election are high.

Leaders of the five parties vying for a role in government get final chances to pitch for power at rallies on Friday evening, before a campaign characterized by appeals to voters’ hearts rather than wallets ends at midnight.

By tradition, the final day before a Spanish election is politics-free.

Two main prizes are still up for grabs in the home straight. One concerns which of the two rival left and right multi-party blocs gets more votes.

The other is whether Vox could challenge the mainstream conservative PP for leadership of the latter bloc, which media outlets with access to unofficial soundings taken since Monday suggest could be starting to happen.

The right’s loose three-party alliance is led by the PP, the traditional conservative party that has alternated in office with outgoing Prime Minister Pedro Sanchez’s Socialists since Spain’s return to democracy in the 1970s.

The PP stands at around 20 percent, with center-right Ciudadanos near 14 percent and Vox around 11 percent, according to a final poll of polls in daily El Pais published on Monday.

Since then, however, interest in Vox – which will become the first far-right party to sit in parliament since 1982 – has snowballed.

It was founded in 2013, part of a broader anti-establishment, far-right movement that has also spread across – among others – Italy, France and Germany.

While it is careful to distance itself from the ideology of late dictator Francisco Franco, Vox’s signature policies include repealing laws banning Franco-era symbols and on gender-based violence, and shifting power away from Spain’s regional governments.

TRENDING

According to a Google trends graphic, Vox has generated more than three times more search inquiries than any other Spanish political party in the past week.

Reasons could include a groundswell of vocal activist support at Vox rallies in Madrid and Valencia, and its exclusion from two televised debates between the main party leaders, on the grounds of it having no deputies yet in parliament.

Conservative daily La Vanguardia called its enforced absence from Monday’s and Tuesday’s debates “a gift from heaven”, while left-wing Eldiario.es suggested the PP was haemorrhaging votes to Vox in rural areas.

Ignacio Jurado, politics lecturer at the University of York, agreed the main source of additional Vox votes would be disaffected PP supporters, and called the debate ban – whose impact he said was unclear – wrong.

“This is a party polling over 10 percent and there are people interested in what it says. So we lose more than we win in not having them (in the debates),” he said

For Jose Fernandez-Albertos, political scientist at Spanish National Research Council CSIC, Vox is enjoying the novelty effect that propelled then new, left-wing arrival Podemos to 20 percent of the vote in 2015.

“While it’s unclear how to interpret the (Google) data, what we do know is that it’s better to be popular and to be a newcomer, and that Vox will benefit in some form,” he said.

For now, the chances of Vox taking a major role in government remain slim, however.

The El Pais survey put the Socialists on around 30 percent, making them the frontrunners and likely to form a leftist bloc with Podemos, back down at around 14 percent.

The unofficial soundings suggest little change in the two parties’ combined vote, or the total vote of the rightist bloc.

That makes it unlikely that either bloc will win a majority on Sunday, triggering horse-trading with smaller parties favoring Catalan independence – the single most polarizing issues during campaigning – that could easily collapse into fresh elections.

(Election graphic: https://tmsnrt.rs/2ENugtw)

(Reporting by John Stonestreet and Belen Carreno, Editing by William Maclean)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
FILE PHOTO: The logo of the OPEC is seen at OPEC's headquarters in Vienna
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger/File Photo

April 26, 2019

JOINT BASE ANDREWS, Md. (Reuters) – U.S. President Donald Trump said on Friday he called the Organization of the Petroleum Exporting Countries and told the cartel to lower oil prices.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters.

(Reporting by Roberta Rampton; Writing by Makini Brice; Editing by Chizu Nomiyama)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy near Lyon
Sonia Bompastor, director of the Olympique Lyonnais womenÕs Youth Academy, leads a training at the OL Academy in Meyzieu near Lyon, France, April 16, 2019. REUTERS/Emmanuel Foudrot

April 26, 2019

By Julien Pretot

MEYZIEU, France (Reuters) – Olympique Lyonnais president Jean-Michel Aulas was wringing out his women’s team shirts in the locker room on a rainy London day eight years ago when he decided it was time to take gender equality more seriously.

It was halftime in their Champions League semi-final second leg against Arsenal at Meadow Park with 507 fans watching and Aulas realized that his players did not have a another kit for the second half.

“Next time, there will be a second set just like for the men, that’s how it’s going to work from now on,” he said.

Lyon have since won five Champions League titles to become the most successful women’s team in Europe and recently claimed a 13th consecutive domestic crown.

They visit Chelsea on Sunday in the second leg of their Champions League semi-final, with a fourth straight title in their sights.

At the heart of their achievements is a pervasive ethos that promotes gender equality throughout the club, starting in the youth academy.

In 2013, Aulas appointed former Lyon and France player Sonia Bompastor as head of the Women’s Academy — the female equivalent of one of France’s top youth set-ups that has produced players such as Karim Benzema, Alexandre Lacazette and Hatem Ben Arfa.

At the Youth Academy, girls and boys share the same facilities.

“Pitches, physiotherapy rooms are the same for all,” the 38-year-old Bompastor told Reuters.

As the girls train under the watch of former Lyon and France international Camille Abily, the screams of the boys practicing can be heard nearby.

The boys and girls also benefit from the same psychological support that includes hypnosis sessions and yoga.

“We have a ‘mental ability’ cell and the hypnotist acts on the girls’ subconscious, on their deeply held beliefs after observing them on and off the pitch,” Bompastor added.

SAME TREATMENT

One message the Academy staff are trying to convey is that girls are as good as boys.

“Women’s nature is such that we have low self-esteem. So self-esteem is a big topic for our girls,” said Bompastor.

This is not the case with the boys, she added.

“Some 14, 15-year-old boys still think they would beat our professional players, we tell them this would not be happening. We still need to work on those beliefs,” she said.

Female players also have to face questions that their male counterparts do not, Bompastor explained.

“In France there is a problem with the way women are considered, there are high aesthetic expectations. So we get heavy questions on femininity, intimate questions that men don’t get,” she said.

OL’s Academy has been held up as a shining example for others to follow, even in the U.S., where women’s soccer has a wider audience than in Europe.

“About one third of the (senior women’s) squad comes from the Academy, we have a good balance,” said Bompastor.

“I’m getting tons of requests from American universities and foreign clubs, who want to come and visit our facilities.”

‘ONE CLUB’

The salaries of the senior players is one area where there remains a large discrepancy between Lyon’s men’s and women’s teams.

While the three best-paid women players in the world are at Lyon with Ballon d’Or winner Ada Hegerberg earning 400,000 euros ($445,520) a year, this figure is dwarfed by the around 4 million euros earned annually by men’s player Memphis Depay.

There is, however, a level of interaction between the men’s and women’s players that is not present at many other clubs.

“When you talk about OL you talk about women and men, you talk about one club and you feel it when you are here or outside in the city,” Germany defender Carolin Simon told Reuters.

“We see it when we play in the big stadium. It’s not ‘normal’ for women’s football,” the 26-year-old, who joined the club last year, added.

Lyon’s female players also enjoy respect from their male counterparts, Simon said.

“It’s very cool, it’s a big honor to feel that it doesn’t matter if you are a professional man or woman. We talk with the men, there are handshakes, it’s a good atmosphere and it’s also why we are successful,” said Simon.

“The men respect us and it’s not just for the cameras.”

Her team mate, England’s Lucy Bronze, sees the men’s respect as key to improving women’s football.

“We might not be paid the same but they are just normal with us, they see us as footballers the same as they are,” Bronze told Reuters.

“Being at Lyon has really opened my eyes. To improve women’s football, it starts with having the respect of your male counterparts. It’s the biggest thing because they can influence so many people.”

(Reporting by Julien Pretot; Editing by Toby Davis)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen
FILE PHOTO: Ethiopian migrants, stranded in war-torn Yemen, sit on the ground of a detention site pending repatriation to their home country, in Aden, Yemen April 24, 2019. REUTERS/Fawaz Salman/File Photo

April 26, 2019

GENEVA (Reuters) – Yemeni authorities have rounded up about 3,000 irregular migrants, predominantly Ethiopians, in the south of the country, “creating an acute humanitarian situation,” the U.N. migration agency said on Friday.

“IOM is deeply concerned about the conditions in which the migrants are being held and is engaging with the authorities to ensure access to the detained migrants,” the International Organization for Migration said.

The migrants are held in open-air football stadiums and in a military camp, it said in a statement.

The detentions began on Sunday in the city of Aden and the neighboring province of Lahj, which are under the control of the internationally recognized government backed by Saudi Arabia and the United Arab Emirates. Iran-aligned Houthi rebels control Sanaa, the capital, and other major urban centers.

Both sides are under international diplomatic pressure to implement a United Nations-sponsored ceasefire deal agreed last year in Sweden and to prepare for a wider political dialogue that would end the four-year-old war.

Thousands of migrants arrive in Yemen every year, mostly from the Horn of Africa, driven by drought and unemployment at home and lured by the wages available in the Gulf.

(Writing by Maher Chmaytelli, Editing by William Maclean)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
U.S. dollar notes are seen in this picture illustration
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

April 26, 2019

(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1/DOLLAR JUGGERNAUT

The dollar has zipped to near two-year highs, leaving many scratching their heads. To many, it’s down to signs the U.S. economy is chugging ahead while the rest of the world loses steam. After all, Wall Street is busily scaling new peaks day after day.

Never mind the cause, the effect is stark. The euro has tumbled to 22-month lows against the dollar and investors are preparing for more, buying options to shield against further downside. Emerging-market currencies are also in pain, with Turkish lira and Argentine peso both sharply weaker.

Now U.S. data need to keep surprising on the upside or even just meet expectations. The International Monetary Fund sees U.S. growth at 2.3 percent this year. For Germany, the forecast is 0.8 percent. The U.S. economy’s rude health has given rise to speculation the Fed might resume raising interest rates. Unlikely. But as other countries — Canada, Sweden and Australia are the latest — hint at more policy easing, there seems to be one way the dollar can go. Up.

(GRAPHIC: Dollar outperforms G10 FX – https://tmsnrt.rs/2Dz17S5)

2/FED: UP OR DOWN?

Wall Street is near record highs and recession worries are receding, so as we mentioned above, investors might wonder if the Federal Reserve will start raising rates again.

Such a pivot is unlikely after the Fed killed off rate-rise expectations at its March meeting. And the latest Reuters poll all but puts to bed any risk of rates will go up this economic cycle, given inflation remains below the Fed’s alarm threshold and unemployment is the lowest in generations.

Before the March rate-pause announcement, a preponderance of economists penciled in one or more increases this year. But that has flipped. A majority of those surveyed April 22-24 see no further tightening through December and more are leaning toward a cut by the end of next year.

Indeed, interest rate futures imply Fed Funds will be below the current 2.25-2.50 percent target range by this December.

Recent positive consumer spending and exports data have eased market concerns of a sharp economic slowdown. But inflation probably needs to run hot for a long period to panic policymakers off their wait-and-see course.     

(GRAPHIC: Federal funds and the economy – https://tmsnrt.rs/2DzjTZz)

3/HEISEI TO REIWA

Next week ends three decades of Japan’s Heisei era. Heisei, or Achieving Peace, began in 1989 near the peak of a massive stock market bubble and closes with the country trapped in low growth, no inflation, and negative interest rates.

The new era that dawns on May 1 is called Reiwa, meaning Beautiful Harmony. It begins when Crown Prince Naruhito ascends the Chrysanthemum Throne. But do investors really want harmony? What they want to see is a bit of economic growth and inflation to shake up the status quo.

The Bank of Japan’s stimulus toolkit to revive a long-suffering economy is anything but harmonious and yet it’s set to stay. The central bank confirmed recently rates will stay near zero for a long time. But the coming days may not be harmonious or peaceful for currency markets. A 10-day Golden Week holiday kicks off on April 29 and investors are fretting over the risk of a “flash crash” – a violent currency spasm that can occur in times of thin trading turnover.

The year has already seen two yen spikes and many, including Japan’s housewife-trader brigade – so-called Mrs Watanabes – appear to have bought yen as the holiday approaches. Their short dollar/long yen positions recently reached record highs, stock exchange data showed.

(GRAPHIC: Japan stocks: from Hensei to Reiwa – https://tmsnrt.rs/2W6a7Fe)

4/EARNING TURNING

Quarterly earnings were supposed to be the worst in Europe in almost three years, but with a third of results in, things are looking a little rosier.

Two-thirds of companies’ results have beat expectations, and they point to earnings growth of 4.5 percent year-on-year. Financials have delivered the biggest surprises, according to analysis by Barclays.

That might just show how low expectations were. In fact, analysts are still taking a red pen to their estimates.

The latest I/B/E/S data from Refinitiv shows analysts on average expect first-quarter earnings-per-share for STOXX 600-listed companies to fall 4.2 percent. That would be their worst quarter since 2016 and down sharply from an estimated 3.4 percent just a week earlier.

Those estimates may end up being a little too bearish as earnings season goes on, quelling worries that Europe is heading toward a corporate recession.

GSK and Reckitt Benckiser will give the market a glimpse of the health of the consumer products market and spending on everything from toothpaste, washing powder and paracetamol.

(GRAPHIC: Earnings forecasts – https://tmsnrt.rs/2DuO2ZF)

5/WAITING FOR THE OLD LADY

Sterling has gone into the doldrums amid the Brexit delay and unproductive talks between the UK government and the opposition Labour party on a EU withdrawal deal. The resurgent dollar, meanwhile, has taken 2 percent off the pound in April. It is unlikely the Bank of England will be able to rouse it at its May 2 meeting.

Despite robust retail and jobs data of late, the economic picture is gloomy – 2019 growth is likely to be around 1.2 percent, the weakest since 2009, investment is down and Governor Mark Carney says business uncertainty is “through the roof”.

Indeed, expectations for an interest rate increase have been whittled down; Reuters polls forecast rates will not move until early 2020, a calendar quarter later than was forecast a month ago. The hunt for a new governor to replace Carney in October adds more uncertainty to the mix.

The recent run of UK data has fueled hopes of economic rebound. That’s put net hedge fund positions in the pound into positive territory for the first time in nearly a year. The Old Lady of Threadneedle Street might temper some of that optimism.

(GRAPHIC: Sterling positions – https://tmsnrt.rs/2XJwUXX)

(Reporting by Alden Bentley in New York, Vidya Ranganathan in Singapore; Karin Strohecker, Josephine Mason and Saikat Chatterjee in London; compiled by Sujata Rao; edited by Larry King)

Source: OANN

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!

Listen to https://magaoneradio.net and Listen Daily! Don't Forget to Share Click a Link Below!
Current track

Title

Artist