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The International Monetary Fund could be about to cut growth forecasts for the euro area as concerns over the omicron Covid variant and persistently higher inflation grow.The Fund said in October that it expected the euro zone economy to grow by 4.3% in 2022. Now, the institution has warned about …

US shares have continued to recover in the second half of the US session, with the recovery now more broad-based with tech and growth stocks joining the party despite continued elevation in yields. The S&P 500 index is now up by nearly 1.5% and is eyeing a test of the …

Reserve Bank of New Zealand Deputy Governor Geoff Bascand said on Monday that while longer-term inflation expectations in the country remain well anchored, short-term inflation expectations have increased. Key Comments:“The RBNZ will take considered steps for now.”“Predicts unemployment rate to drift up to about 4%.”“More confident that the labour market …

South Korea is sending citizens another round of stimulus in response to the economic challenges created by the pandemic. Finance Minister Hong Nam-ki opposed this call and suggested a smaller assistance package. Prime Minister Kim Boo-kyum backed up this position by adding that the government could not afford another round …

The Reserve Bank of Australia is having a monetary policy meeting and will announce the resulting decision on Tuesday, December 7. Economists and researchers of seven major banks have focused on the potential outcomes from central bank’s meeting. Policymakers are expected to hold their fire and keep the current policy …

European Central Bank governing council member Robert Holzmann said on Monday that inflation in the Eurozone would unlikely fall below 2.0% in 2022, according to Reuters citing Handelsblatt. Holzmann added that inflation is set to reach its peak sometime around the turn of the year. Holzmann said that the ECB …

The US securities regulator has opened an investigation into Tesla over a complaint that the company failed to properly notify its shareholders and the public of fire risks associated with solar panel system defects over several years.The upcoming investigation raises regulatory pressure on the world’s most valuable automaker, which already …

Economists believe Fed Chairman Jerome Powell has given away the plot twist of next week’s meeting. In two days of testimony to Congress last week.Powell opened the door for the central bank to announce it is doubling of the monthly pace of asset purchases to $30 billion from $15 billion; …

Speaking on Dubai TV, Monday, Mohamed Hashad, Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts shed light on a number of developments in the markets this week Firstly, on the relationship between the Federal Reserve’s decision and Omicron strain, and …

The S&P 500 has seen a decent bounce on Monday and currently trades higher by over 1.0% on the session around the 4580 level, as investors continue to buy the dip in light of the index testing its 21-day moving average at 4525 last week. Sensitive cyclical stocks outperformed on …