Open, honest and effective: what makes Jacinda Ardern an authentic leader

By Andrei Alexander Lux, Edith Cowan University

The qualities that have made Jacinda Ardern New Zealand’s most popular prime minister in a century were on display this week as she took an earthquake in her stride during a live television interview.

“We’re fine,” she declared cheerfully as the 5.9-magnitude quake shook New Zealand’s parliament house in Wellington for 15 seconds. “I’m not under any hanging lights.”

Her coolness under pressure, self-discipline and the decisiveness of her government’s response to the COVID-19 pandemic has led some to call Ardern the most effective national leader in the world.

But the key ingredient to her popularity and effectiveness is her authenticity.

In the words of Helen Clark, New Zealand’s prime minister from 1999 to 2008, Ardern is a natural and empathetic communicator who doesn’t preach at people, but instead signals that she’s “standing with them”:

“They may even think: ‘Well, I don’t quite understand why the government did that, but I know she’s got our back.’ There’s a high level of trust and confidence in her because of that empathy.”

These insights are confirmed by my own research into authentic leadership.

How we respond to authentic leaders

As a lecturer in business leadership, I’m particularly interested in the value of authenticity in the workplace. Part of my research (with colleagues Steven Grover and Stephen Teo) has involved surveying more than 800 workers across Australia to find out how the behaviour of their leaders shapes their feelings about work.

For better or worse, leaders often represent the entire organisation to their employees. How we feel about our boss transfers into how we see the company as a whole, just as political leaders represent the nation.

The results from that survey were decisive: employees were, on average, 40% more likely to want to come to work when they saw their line manager as an authentic leader; and those who came to work because they wanted to were 61% more engaged and 60% more satisfied with their jobs.

At a time when careers routinely span multiple organisations and the nature of work becomes more transient, these results demonstrate the value of positive personal connections in the workplace.

Our research also sheds light on four qualities we value in authentic leaders.

But first, let’s dispel a common misconception.

What authentic leadership isn’t

Authentic leadership doesn’t just mean “being true to yourself”. This notion has led some to describe the likes of Donald Trump as authentic.

But authentic leaders are not simply callous, self-serving individuals with no social filter. According to Claudia Peus and her co-authors of a seminal 2012 article on authentic leadership:

“Authentic leaders are guided by sound moral convictions and act in concordance with their deeply held values, even under pressure. They are keenly aware of their views, strengths, and weaknesses, and strive to understand how their leadership impacts others.”

1. Authentic leaders know themselves

Authentic leaders manifest the Ancient Greek maxim to “know thyself”. They know what truly matters to them, and their own strengths and weaknesses.

Our values are often hidden assumptions; revealing them requires an active and honest process of personal reflection.

Before we can lead others, we must first lead ourselves.

2. They follow a moral compass

Authentic leaders have the courage to stand up and act on their values, rather than bending to social norms. Doing what you feel is right is rarely easy, especially when lives are on the line, but that’s when it matters the most.

An example comes from the last time businesses around the world were struggling this badly, the 2008 global financial crisis. When the board of US-based manufacturing company Barry-Wehmiller wanted to discuss layoffs, chief executive Bob Chapman refused.

Instead, Chapman asked everyone to take four weeks’ unpaid leave, saying: “It’s better that we should all suffer a little than any of us should have to suffer a lot.” The company has since gone from strength to strength under his “truly human leadership”.

3. They appreciate their own biases

Authentic leaders are aware of their own biases and strive to see things from multiple viewpoints. We cannot know all sides to an issue and must work to understand and respect others’ perspectives before forming opinions or making decisions.

Acting in the best interests of the collective requires a lucid and compassionate understanding of how our actions affect other people.

4. They are open and honest

Authentic leaders cultivate open and honest relationships through active self-disclosure. Dropping one’s guard and letting people in isn’t always easy, especially in the workplace. Yet only when we allow ourselves to be vulnerable in front of another person can they open up to us in return.

Australian prime minister Scott Morrison appears to have learnt this lesson since the beginning of the year, when his response to Australia’s catastrophic bushfire season led to unfavourable comparisons with Ardern.

After the Morrison government revealed a $A60 billion budgeting error over its COVID-19 JobKeeper package, he swallowed his pride and accepted fault, acknowledging that “responsibility for the problem ultimately rested with him.”

It’s a stark contrast to Trump’s refusal to admit any mistake in his handing of the US response.

Authenticity: the power to unite

Support for an authentic leadership approach isn’t unanimous. A notable critic, professor Jeffrey Pfeffer, has stated that: “Leaders don’t need to be true to themselves; in fact, being authentic is the opposite of what they should do.”

But our research reveals the power of authenticity to unite people behind a collective cause. Relationships built on mutual trust and shared values are the key.

Jacinda Ardern’s unprecedented popularity mirrors these results. When we see authentic leadership, we know instinctively that we prefer it.The Conversation

About the Author:

Andrei Alexander Lux, Lecturer in Leadership and Organisational Behaviour, Edith Cowan University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

 

Euro boosted by huge EU stimulus plan

By Lukman Otunuga, Research Analyst, ForexTime

Buying sentiment towards the Euro jumped on Wednesday after the European Commission unveiled a coronavirus recovery package worth a whooping 750 billion euros.

The Euro stood tall against almost every single G10 currency, marching towards a fresh two month high against the dollar as investors took heart from this positive news. Given how the currency has struggled since falling in March when market players sprinted towards the Dollar’s safe embrace, it could be time for the Euro to shine.

Given how the European Commission coronavirus economic recovery package may boost the likelihood of a synchronized recovery across Europe, the longer term outlook for the Euro is encouraging.

Taking a look at the technical picture, the EURUSD is turning bullish on the daily charts with prices trading around the 1.1000 resistance level as of writing. A solid daily close above this point should signal a move higher with 1.1090 acting as the first point of interest. If the upside momentum propels prices above this point, the EURUSD could venture towards 1.1150 in the medium term.

Alternatively, a decline towards 1.0850 will be on the cards if 1.1000 proves to be reliable resistance.

Dollar waits for fresh catalyst 

Where the Dollar concludes this week will be influenced by US-China trade tensions and optimism over economies reopening after an extended lockdown period.

Expect the dollar to appreciate against most G10 currencies if risk aversion makes an unwelcome return during the second half of the trading week. If the mood continues to brighten on economic hopes, then appetite for king Dollar may fall – ultimately sending the Dollar Index lower.

On the data front, preliminary US GDP data on Thursday and a speech from Jerome Powell at the end of the week could spark some additional volatility.

Focusing on the technical, it is the same old story. Prices remain in a wide range with support around 99.0. A strong daily close below this point may swing open the doors lower towards 98.50 and 97.80.

USDJPY eyes 108.00 

If in times of uncertainty the Japanese Yen is a trader’s best friend, then what does it become in times of optimism and hope?

It has not been the best of trading weeks thus far for the Yen which has weakened against major currencies. As optimism over economies reopening overshadow trade tensions, appetite for the Yen and other safe-haven currencies are likely to fade in the near term.

A picture is worth 1000 words and this can be said for the USDJPY on the daily charts. Prices are trading near the 108.00 resistance level and could push higher if the Yen continues to weaken. A strong breakout above this point may open a path towards 109.40 in the near term.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.


Forex-Time-LogoArticle by ForexTime

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USDJPY Analysis: Declining consumer prices in Japan bullish for USDJPY

By IFCMarkets

Declining consumer prices in Japan bullish for USDJPY

Core consumer prices declined in Japan in April: core CPI declined 0.1% in April after 0.1% increase in March, when no change was expected. This is bullish for USDJPY.

IndicatorVALUESignal
RSIBuy
MACDBuy
Donchian ChannelBuy
FractalsNeutral
Parabolic SARBuy

 

Summary of technical analysis

OrderBuy
Buy stopAbove 107.73
Stop lossBelow 107.43

Market Analysis provided by IFCMarkets

Grain Analysis: Several factors can contribute to higher grain prices

By IFCMarkets

Several factors can contribute to higher grain prices

Several factors at once can contribute to the growth in grain prices. A possible softening of US-Chinese trade disputes would encourage China’s purchase of grain from the US. The rise in world oil prices causes higher fuel prices for tractors and combine-harvesters, which increases the farmers’ expenses and the net cost of grain. Removing quarantine in the world major countries contributes to the restoration of world grain trade and enhances the activity of buyers. Since the Grain_4 personal composite instrument is a portfolio of 4 different instruments, technical analysis can be an important factor in predicting its dynamics.

IndicatorVALUESignal
RSINeutral
MACDBuy
MA(200)Neutral
FractalsNeutral
Parabolic SARBuy
Bollinger BandsNeutral

 

Summary of technical analysis

OrderBuy
Buy stopAbove 365
Stop lossBelow 350

Market Analysis provided by IFCMarkets

Investors expect the US reaction to new protests in Hong Kong

By IFCMarkets

Top daily news

Investors are worried about yet another aggravation of US-Chinese relations due to protests in Hong Kong. They arose against the backdrop of a vote on a new law restricting city self-government. US President Donald Trump announced possible measures against the PRC. However, this whole situation does not prevent the growth of world stock indices and cheapening of precious metals.

Forex news

Currency PairChange
EUR USD+0.89%
GBP USD+0.69%
USD JPY-0.02%

The US dollar index has been traded narrowly for about 2 months already at around 100 points. Yesterday, it fell amid yet another disagreement between China and the United States over the protests of Hong Kong residents. They are not happy with the new national security law, which may limit urban self-government. US President Donald Trump said he would respond to the situation in Hong Kong by the end of this week. This caused a negative reaction from the Chinese authorities. Today, the US dollar strengthened slightly against the euro following a statement by ECB Executive Board member Isabel Schnabel that their department would act if necessary. Investors believe that the ECB will increase the issue of euros to expand the program of redemption of bonds known as PEPP (Pandemic Emergency Purchase Program). The New Zealand dollar showed noticeable growth yesterday thanks to the publication of improving data on foreign trade for April. Today the Beige Book economic review will be published in the United States.

Stock Market news

IndicesChange
S&P 500+1.22%
Dow Jones Index+2.29%
Nasdaq 100-0.24%
EU 50 Index+0.8%
DE 30+0.7%

On Tuesday, US stock indexes rose without any particular reasons. A number of US states have lifted or softened quarantine. Of course, this is good for the economy, but some market participants fear the second wave of the coronavirus pandemic. Yesterday, the shares of those companies that lagged far behind the positive dynamics of the indices (financial, industrial and oil and gas sectors) were the leaders of growth. Goldman Sachs and JPMorgan Chase stocks soared 9% and 7%. Securities of United Airlines (+ 16.3%), American Airlines (+ 14.7%), Southwest Airlines (+ 12.6%) advanced. While the stocks of companies that previously were in the lead, fell yesterday: Microsoft (-1.1%), Apple (-2.2%). The S&P 500 index tested the psychological level of 3000 points, but so far could not gain a foothold above it. Now, futures for US stock indexes have risen. Japanese Nikkei 225 index today rose for the third time in a row and updated the monthly maximum. European stock indexes also advanced today. The statement by the ECB Executive Board member Isabel Schnabel about a possible increase in currency issue to support the European economy slightly weakened the euro, but had a great positive effect on stock prices. The intention of the European Commission to develop an economic stimulus plan in the amount of 1 trillion euros was another positive factor.

Commodity Market news

CommoditiesChange
WTI Crude+1.4%
Brent Crude Oil+1.6%

Brent crude oil prices dropped insignificantly, but are still traded above the psychological level of $ 35 per barrel. Today the independent American Petroleum Institute (API) will publish its assessment of changes in oil reserves in the United States for the week. Official data will be released tomorrow. Investors fear that reserves rose after a decline a week earlier. As a result, oil quotes are now under pressure. According to the International Energy Agency (IEA), in the long run, they will be supported by reduced investment in the global oil industry due to coronavirus. The IEA estimates it at 20% (or at $ 400 billion) compared with 2019. This will inevitably lead to a decline in oil production.

Gold Market News

MetalsChange
Gold-1.12%

Gold is getting cheaper for the third day in a row, but its quotes are still above the psychological level of $ 1,700 per ounce. Investors ignore the political risks of another conflict between the US and China over protests in Hong Kong. Precious metals have lost some of their attractiveness amid a powerful rally in the global stock market. In just 2 months, the US S&P500 soared by almost 40%, and the Nasdaq – by almost 45%.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Fears Of A Second Wave Emerge In China

By Orbex

China Carries Out Mass Testing

Many of the recent headlines relating to COVID-19 have been positive. They’ve highlighted the promising work going on with vaccine development as well as the continued relaxing of social and economic lockdown measures.

However, there are still some more worrying reports that traders should be aware of.

Over the last 12 days, China has tested around 7 million people in Wuhan, the city in Hubei province where the virus reportedly originated.

In a panic, the Chinese government launched testing following the emergence of fresh cases of the virus. These prompted fears that a deadly second wave could be underway.

New Infections Increasing

According to the data released by the local health commission in China, of the 6.68 million people tested, 206 were found to be asymptomatic carriers of the disease.

The testing began on May 12 as the number of new infections increased for the first time since the lockdown ended in April.

China has been particularly aggressive in testing since the lockdown ended. This has been part of an increased drive to protect against a second wave of the virus.

More than 100 million residents across China were confined to their homes during the lockdowns. The government is rightfully fearful of needing to return to such conditions, given the heavy hit the economy suffered.

Even more concerning is the fact that the makeup of these new cases appears to be different from the pathogens found in cases reported during the first wave of the virus.

They are instead consistent with the makeup of virus cases noted to have come from Russia.

Risks For the Rest of the World

The reemergence of cases in China poses serious questions for the rest of the world

The US is reopening large parts of the economy and countries in Europe are emerging from lockdown. Japan and the UK will also be further relaxing restrictions this week. But with fresh cases in China, there is a worry that the infection rate will start to increase again, and that lockdowns will have to come back.

As such, expect all eyes to be on global infection and death toll figures in the coming weeks. Any fresh spikes are likely to weigh sharply on risk appetite.

For now, however, markets remain buoyant as focus remains on the fledgling global recovery underway.

S&P Recovery Rally Continues

The S&P500 has been rallying firmly over recent sessions as price breaks out above the 2953.50 level.

For now, the rally has been capped by the 3029.50 level resistance. However, while support at 2953.50 remains intact, focus remains on further upside and a breakout to nest the 3112.75 level next.

By Orbex

Fibonacci Retracements Analysis 27.05.2020 (GBPUSD, EURJPY)

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we see in the H4 chart, after failing to 50.0% fibo at 1.2030, the descending correctional wave has transformed into a rising channel, which may still be considered as a pullback. The key upside target in the nearest future may be the high at 1.2648. After breaking it, the pair may continue growing towards the next target at 50.0% fibo (1.2892). However, as long as the price is moving below the high, there is a possibility of one more descending wave to reach 50.0% and 61.8% fibo at 1.2030 and 1.1881 respectively.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a new ascending correction after the convergence on MACD, which has already reached 50.0%. After a slight local pullback, the pair may continue growing towards 61.8% and 76.0% fibo at 1.2424 and 1.2505 respectively. The support is the low at 1.2072.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY has stopped its rising movement at 50.0% fibo at 118.63. the curet pullback may get the price back to 23.6% fibo. However, after completing the pullback, the asset may start a new ascending impulse towards 50.0% and 61.8% fibo at 118.63 and 119.63 respectively. The support is the low at 114.40.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows that after reaching the high at 118.52, the instrument has started a new pullback. The downside targets are 50.0% and 61.8% fibo at 116.92 and 116.55 respectively.

EURJPY_H1

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Forex Technical Analysis & Forecast 27.05.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.0995, EURUSD has completed the descending impulse towards 1.0955. Possibly, the pair may trade upwards to reach 1.0975 and then fall to break 1.0944. Later, the market may continue moving inside the downtrend with the target at 1.0890.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending wave at 1.2360, GBPUSD is moving downwards Possibly, the pair may break 1.2313 and then continue trading downwards with the target at 1.2260. After that, the instrument may form one more ascending structure to return to 1.2313 and test it from below.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating not far from the downside border. Possibly, the pair may break 70.60 and then continue trading inside the downtrend with the short-term target at 69.50. Later, the market may start a new correction towards 72.72.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished anther descending structure at 107.35, thus forming a new consolidation range. Today, the pair may grow towards 107.64 and then fall to break 107.30. After that, the instrument may continue falling with the target at 106.66.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending wave at 0.9650, USDCHF is moving upwards to reach 0.9686. Later, the market may fall towards 0.9666, thus forming a new consolidation range between these two levels. Possibly, the pair may break this range to the upside and continue growing with the target at 0.9720.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After forming another ascending wave at 0.6672, AUDUSD has completed the descending impulse to reach 0.6632 along with the correction towards 0.6655. Possibly, today the pair may break the range to the downside and continue trading downwards with the target at 0.6585.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is consolidating not far from the upside border. Today, the pair may break 37.00 and then continue growing towards 39.00. After that, the instrument may correct to reach 30.50 and then resume trading inside the uptrend with the target at 45.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the correctional wave at 1710.10; right now, it is still consolidating close to the lows. Possibly, the pair may start another decline to reach 1700.00 and then resume trading upwards with the target at 1719.38.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD continues growing towards 9023.00. Later, the market may correct to return to 8842.00 and then resume trading upwards with the target at 9400.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The Index is consolidating at the top. Today, the asset may fall to break 2988.8 and then continue the correction with the target at 2888.6.

S&P 500

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

USD Remains Soft on Improving Sentiment

By Orbex

EURUSD Resumes Gains, But Can It Break Past 1.1000?

The single currency caught a bid as the dollar was soft. As a result, the EURUSD is rising over 0.65% intraday.

Prices remain well below the resistance area of 1.1000 level for now. Given the positioning in the Stochastics oscillator, the momentum could give out.

In this scenario, we expect the EURUSD to pullback lower once again.

But, with support firm at the 1.0885 region, the bias is slightly shifting to the upside for now.

Any gains will come only upon a successful breakout above the 1.1000 level.

GBPUSD Shifts To A Bullish Bias

The GBPUSD currency pair is up almost 1.3% intraday.

The gains follow after the technical bullish resistance which formed in the previous sessions.

This is validated with prices breaking past the technical resistance level of 1.2277.

The next upside target could be at 1.2424. However, a pullback to 1.2277 level to form technical support will further validate this view.

Expect to see some consolidation take place or the upside bias diminishing if the 1.2277 level fails.

This could potentially push the GBPUSD back to the downside.

WTI Crude Oil Breaks Above Technical Resistance

WTI Crude oil prices managed to break past the 33.66 level of resistance after a bit of consolidation on Monday.

Price action, if it continues, could see further gains coming along.

But with the volatility in crude oil currently settling lower, the gains might be slower.

For the moment, the price level of 33.66 will be critical. Gains can come only if prices remain firm above this level.

Alternatively, a break down below 33.66 could see a correction underway.

The lower target near 27.95 remains a possibility at the moment. Watch the bearish divergence forming on the Stochastics oscillator as well which adds to this view.

By Orbex

Gold finds no love as sentiment improves

By Lukman Otunuga, Research Analyst, ForexTime

Gold prices slipped to levels not seen in two weeks on Wednesday as optimism around the reopening of economies outweighed fears over escalating US-China tensions.

The improving market mood is certainly supporting appetite for risk at the expense of safe-haven assets with Gold depreciating over 1.5% since the start of the week. Buying sentiment towards Gold is likely to deteriorate in the short term amid rising equity markets and economic optimism. However, the current risk-on sentiment is unlikely to last given how trade tensions and global growth concerns remain dominant market themes. As caution makes a return in the future, the precious metal is positioned to appreciate.

Other key factors influencing Gold’s valuation will revolve around the Dollar’s performance and interest rates across the globe. Given how the Dollar remains vulnerable to disappointing US economic data and central banks seen easing monetary policy to support their respective economies, the longer-term outlook for Gold is bright.

Looking at the technical picture, Gold may test $1700 in the short term. A breakdown below $1700 could crack open the doors towards $1680.

Alternatively, bulls need a solid close above $1735 to spark a move towards levels $1760. If risk aversion makes a rude return, Gold has scope to venture to levels not seen since 2011 around $1800.

Currency spotlight – GBPUSD

Fasten your seatbelts as the next few weeks may be explosively volatile for the British Pound.

Talks between the United Kingdom and Brussels are set to resume on the 1st of June with many questions still left unanswered. The coronavirus chaos has certainly rattled the dynamics of things and placed the UK economy in a vulnerable position like many other major economies.

If little or no progress is made during the negotiations, fears may intensify over the UK crashing out of the European Union with no post-Brexit deal at the end of 2020.
Looking at the technical picture, the GBPUSD may sink back towards 1.2200 if 1.2850 proves to unreliable support.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.


Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com