Market Update

Facebook Inc. services experienced widespread outages Monday morning, adding to the social network’s worst and most miserable day.Facebook FB shares dropped as much as 6% to an intraday low of USD 323, which would be their worst single day decline since a 6.3% fall logged on 30 October 2020. The …

The reversal of New Zealand’s dollar from 0.0.6980 high has found support at 0.6955.The NZD/USD pair was able to maintain its near-term positive tone amid broad-based USD weakness. Therefore, the NZD/USD remains close to 0.7000 resistance area.The New Zealand dollar’s rejection at the 0.7000 area, seen during Monday’s earlier US …

The Business Confidence Index in Australia has increased for the first time since May.The Index’s report cites following the outlining of re-opening plans in September in both NSW and Victoria, business confidence data gained +3.1% m/m to 104.6 on Monday, and +22.2% y/y. Business confidence in September 2021 was 9.2pts …

The massive Chinese real estate company Evergrande is unable to pay its debts. This crisis has ignited some rare protests in China and is raising concerns all over the international financial markets.A key question now is whether or not the government of China will let Evergrande collapse and whether or …

Oil prices on Monday hit seven-year high after OPEC+ opted to adopt their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. Crude prices jumped by three per cent, or $2.32, to $78.17 on the New York Mercantile Exchange, the …

Facebook, Instagram, WhatsApp and a handful of other apps suddenly crashed Monday afternoon, turning up error messages to its millions of users around the world. All of the apps that went down are owned by Facebook. The major outage comes as Facebook finds itself in hot water over its role …

Wall Street’s main indexes fell on Monday as investors shifted interest in technology shares in the face of rising Treasury yields, while new concerns over trade erupted on U.S.-China trade relations providing another reason for caution.U.S. Treasury yields have been supported by recent data showing increased consumer spending, accelerated factory …

Newly elected Japanese Prime Minister Fumio Kishida said Monday he will dissolve the lower house next week in preparation for 31 October elections as he seeks a fresh mandate to deal with the coronavirus pandemic, the sagging economy and security threats from China and North Korea. Kishida was formally elected …

New orders for U.S. made goods accelerated in August, signaling sustained strength in manufacturing even though economic growth appeared to have slowed during the third quarter of 2021 because of shortages of raw materials and labor.“Factory orders increased 1.2% in August. Data for July was revised higher to show orders …

Canada’s building permits fell by 2.1% in August, driven by a significant drop in residential construction intentions in Ontario and British Columbia.The total value of building permits in August declined 2.1% on a month over month basis to a seasonally adjusted 9.66 billion Canadian dollars, or the equivalent of $7.64. …