New Zealand Prime Minister Jacinda Ardern announced today, Thursday, that her country has signed a historic Free Trade Agreement (FTA) with Britain, adding that the free trade agreement will boost New Zealand’s gross domestic product by about one billion New Zealand dollars, through the unprecedented access of New Zealand products …
Read More »CBRT Cuts Policy Rate by 200 Basis Points
The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it lowered its policy (one-week repo) rate by 200 basis points to 16% from 18%. The market expectation was a rate cut of 100 basis points to 17%. “Tight policy started to have a higher than envisaged …
Read More »Gold Rises For The Third Day in a Row
Gold prices rose for a third consecutive session on Thursday as a weaker dollar lifted the allure of bullion, while investors assessed whether rising inflation would prompt central banks to raise interest rates sooner than expected. Spot gold rose 0.1 percent to $1,782.70 an ounce, and US gold futures rose …
Read More »European Shares Fall, Affected by Evergrande Crisis
European shares incurred losses at the beginning of today’s session, affected by negative sentiment stemming from renewed concerns about the real estate sector in China and mixed quarterly earnings results. The pan-European Stoxx 600 index fell 0.4%, retreating from a six-week high. Asian stocks also fell after news of a …
Read More »Market Drivers – Asian Session 21-10-2021
Japan’s Nikkei index fell nearly 2% at the close of today’s session, pressured by fresh concerns about China’s Evergrande ahead of a general election and concerns about the impact of rising costs on the future of companies. The Nikkei index closed down 1.87% at 28,708.58 points, while the broader Topix …
Read More »Japan Shares Fall Nearly 2% on Election Fears And Evergrande
Japan’s Nikkei index fell nearly 2% at the close of today’s session, pressured by fresh concerns about China’s Evergrande Group anxiety ahead of a general election and concerns about the impact of rising costs on the future of companies. “The ruling LDP (Liberal Democratic Party) would probably win a majority …
Read More »Market Drivers – U. S. Session 20-10-2021
The U. S. session witnessed no significant developments in terms of economic data. Positive corporate earning posts continued to back Wall Street and benchmark indexes.Wall Street cheered solid earnings from several health care companies. Abbott Laboratories for medical devices and drugs rose 3.6% beating Q3 estimates. Health insurer Anthem rose …
Read More »Bets on higher U.S. Treasury yields hurt dollar funding Market
Bloomberg has said that bets on rising U.S. yields “are adding to pressure on interest rates in the short term funding market”, where corporate cash holders make overnight loans by Treasury securities as guarantee.Yields on two-year notes tipped 0.44% this week, the highest level in a year, while investors still …
Read More »Wall Street closes higher with S&P 500 tipping fresh record
The S&P 500 index, a proxy for the health of retirement and college savings accounts, has climbed by 0.4% for its sixth successive gain to close as solid earnings stir investors’ expectations and appetite.S&P 500 closed at 4,536.19. The Dow Jones Industrial Average rose by 0.4% to 35,609.34 and Nasdaq …
Read More »BofA: Carbon tax could add to inflation
Francisco Blanch, Bank of America head of global commodities and derivatives research, told CNBC in a discussion on how much the energy sector is playing into the inflation story, why prices are elevated and how prices will look this holiday season.Blanch pointed out that surging energy prices in oil and …
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