Market Update

The European Central Bank said in a publication on Thursday that the unemployment rate will continue to rise in the Eurozone and that there is a limited increase in consumer demand even as the economy recovers from an unprecedented recession. In the bulletin, which largely reflects the economic expectations and …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it raised its policy (one-week repo) rate by 200 basis points to 10.25%. In its policy statement, the CBRT noted that it looks to restore the disinflation process and support price stability with the decision to hike …

The headline German IFO Business Climate Index came in at 93.4 in September, stronger than last month’s 92.6 while missing the consensus estimates pointing to a reading of 93.8. Meanwhile, the Current Economic Assessment arrived at 89.2 points in the reported month as compared to last month’s 87.9 and 89.5 …

The Stoxx600 index of European shares fell 1% by 0711 GMT, reaching its lowest level since June 26, while the Frankfurt, London and Paris stock exchanges fell between 0.6% and 1%. Wall Street indices posted big losses yesterday, led by technology stocks after officials in the Federal Reserve (US Central …

Japanese stocks fell, affected by a widespread sell-off in global stocks Thursday, September 24th, after concerns about their high valuation and an increase in virus cases. The pressure on stocks was increased by uncertainty over the US presidential election, as President Donald Trump declined to comment on a peaceful transfer …

The dollar held on to its gains against most currencies on Thursday, after signs of an economic slowdown in Europe and the United States revived concerns about the repercussions of the second wave of coronavirus infections. The Euro, already hit by fears of a return to tight lockdown measures, faces …

The Swiss National Bank (SNB) board members left the monetary policy settings unchanged at its September quarter monetary policy assessment this Thursday The SNB left the benchmark sight deposit rate unchanged at -0.75%. The central bank maintained the 3-Month Libor Target Range steady between -1.25% to -0.25%, as widely expected. …

The Turkish lira slumped to a new record low against the US dollar, as investors cautiously await the outcome of the central bank’s policy meeting, which is expected to leave the key interest rate pending. A Reuters poll of 17 economists showed that the bank was keeping its repurchase rate …

Gold fell Thursday, September 24th, to its lowest level in more than two months, on dollar’s rally, while investors were concerned about the uncertainty surrounding additional stimulus measures to support the slowing economic recovery in the United States. This fell gold in immediate transactions 0.7% to 1851.51 dollars an ounce …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8028 versus Wednesday’s fix at 6.7986.