Market Update

Former Japan’s ruling Liberal Democratic Party (LDP) policy Chief Fumio Kishida outpaced popular reformer Taro Kono and won the party leadership vote after a run-off race. Kishida will succeed outgoing Prime Minister Yoshihide Suga, the announcement will be made on Monday, October 4. Kishida secured 257 votes when compared to …

U. S. President Joe Biden continued meeting key Senators on Tuesday in an attempt to gather flagging support for his economic plan of USD 3.5 trillion federal budget bill, which Republicans blocked yesterday.Biden also virtually meets with governors, mayors, and other state officials to discuss the bipartisan Infrastructure Investment and …

The sharp lows on Tuesday of Wall Street stocks is deepening concerns over persistent inflation and price hikes, as debt ceiling negotiations continue in Washington.All three major U.S. stock indexes slid by nearly 2% or even more, with interest rate sensitive tech and tech adjacent stocks while investors lost risk …

U.S. stocks stumbled Tuesday, logging their sharpest pullback since May 2021, as rising bond yields impacted shares of technology companies.A number of stocks were hit hard including Moderna, Nvidia and Google holding company Alphabet. Shares of Moderna were down nearly 7% in mid-day trading session. The Federal Reserve’s signaled policy …

Senator Elizabeth Warren said that she would not support Federal Reserve Chair Jerome Powell for a second term as head of the U.S. central bank.Warren said, Tuesday, that Powell’s record gives her grave concern. Warren’s statement was during a Senate Banking Committee hearing.The Senator argues that Powell acted to make …

After China’s latest crackdown on digital currency activities, and according to new data from blockchain labs, China’s growth in crypto trading by volume fell deeply after last week’s restrictions. Most Western European countries have turned into the world’s largest crypto economy, receiving USD 1 trillion over the last year, or …

The world economy is encountering a significant increase in forces resulting in simultaneous increase in inflation and stagnation of economic output, as surging energy prices boost inflation and, accordingly, slow the recovery from the recession that has been among the major impacts of the pandemic.Crude pushed past $80 for the …

As Tuesday’s American trading session opened, the USD/CAD was trading at 1.2700, up by 0.59%.The USD/CAD pair has risen on the back of higher U. S. Treasury yields and the fall of the market’s risk sentiment.The U. S. 10-year Treasury yield reached a fresh two-month high at 1.567%. The fall …

ECB President Christine Lagarde said that the European Central Bank should be cautious of withdrawing stimulus too quickly, a statement by which Lagarde has distanced the European Central Bank from the move towards tighter monetary policy by many other central banks.ECB sees inflation going further above 3%, but expected to …

President of the European Central Bank, Christine Lagarde spoke before ECB Forum on Central Banking. Her speech was entitled: “Beyond the pandemic: the future of monetary policy”.Lagarde has pointed out that the economy is back from the brink, but not completely out of the woods. After a highly unusual recession, …