European stocks fell on Monday, as banking stocks continued to decline in the region, despite the intervention of the authorities to limit the repercussions of the sudden collapse of Silicon Valley Bank. The pan-European Stoxx 600 index was down 0.6 percent by 0812 GMT, after closing at its lowest level …
Read More »The market impact of the SVB fallout? How? Why?
Silicon Valley Bank, or SVB, was closed down by banking regulators on Friday after a dramatic, quick collapse, the second-largest bank failure in US history. SVB had only two days previously indicated that corporation was experiencing a cash problem. It initially sought to generate funds by selling shares, then it …
Read More »Oil prices are rising, supported by the recovery of Chinese demand
Oil prices rose on Monday after a weak start as recovering Chinese demand and a weaker dollar supported a market wary of further hikes in US interest rates. By 0410 GMT, Brent crude futures rose 19 cents to $82.97 a barrel. West Texas Intermediate crude futures rose 20 cents, or …
Read More »Nikkei index falls as banking stocks are affected by the collapse of Silicon Valley
Japan’s Nikkei fell more than 1 percent on Monday, with banks leading the losses as investors fretted over the potential repercussions of the collapse of the US bank Silicon Valley. Automakers also fell under pressure from a strong yen, with Mitsubishi Motors leading the decline. The Nikkei index fell 1.11 …
Read More »Financial Markets’ Weekly Recap, March 6-10
Last week, as China seeks to intensify its efforts to reduce stubborn financial risks and technological bottlenecks during President Xi Jinping’s third term, the country kept the top leaders at the central bank and the Ministry of Finance unchanged.In the United States, a government study on Friday renewed hopes of …
Read More »Market Drivers – US Session 10/03/2023
When traders boosted their long holdings in response to the recent dip, WTI oil regained ground around the $77 mark. The American crude closed Friday’s trading at $76.68 per barrel.Brent oil’s price increased and got close to $83 per barrel. If the right catalysts manifest, the momentum may still grow …
Read More »EUR/USD benefits from NFP, Germany’s high inflation data
The Euro gains from a weaker dollar following the NFP and high inflation figures in Germany. The EUR/USD pair concluded the week with modest gains after reaching a two-week high at 1.0700. As the Silicon Valley Bank in the US declared bankruptcy, the market’s mood turned negative due to the …
Read More »BoC’s future rate hikes gets support by latest jobs data
While the employment growth in February was not as significant as in January, it was still somewhat more than expected, which is another sign that the Canadian economy will start 2023 with more strength than previously predicted.The increase in jobs this month was less pronounced than in prior months, but …
Read More »GBP/USD climbs on weaker US dollar post key NFP data
The GBP/USD pair rallied almost 1% on Friday, following the US NFP data. Bulls struggle at the 200-day EMA, exacerbating a GBP/USD fall of 60 pips to current rates. GBP/USD recovers some ground getting ready to finish the week with minimal gains after bouncing off YTD lows at 1.1802, with …
Read More »Italy expected to issue new retail bonds before summer
Italy’s Treasury is preparing to launch new bonds dedicated to small savers in an effort to increase retail investors’ holdings of the country’s huge debt.Rome is trying to find new bond buyers for its over 2.760 trillion Euro ($2.92 trillion) debt – proportionally the second highest in the Eurozone – …
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