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The Turkish lira declined against the US dollar after an earlier rise, following the central bank’s decision to keep the interest rate unchanged at 19%. The currency fell to 8.1250 after the decision, which was preceded by its initial rise to 8.005 against the US currency. It had closed at …
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April, 2021
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15 April 2021 4:05 pm
Bank of Japan Governor: The Repercussions of Coronavirus Affect The Economic Recovery
Bank of Japan Governor Haruhiko Kuroda warned Thursday that the Japanese economy is recovering but that the recovery is likely to be modest due to the coronavirus measures. The bank gave a negative assessment of two of the nine regions in Japan and maintained its outlook on the remaining areas, …
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15 April 2021 3:14 pm
Turkey: CBRT Leaves Policy Rate Unchanged at 19%
The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 19% as expected. In its policy statement, the central bank refrained from repeating last month’s pledge to “decisively” maintain a tight policy.
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15 April 2021 2:42 pm
Germany’s Economy Contracted by 1.8% in Q1 of 2021 Due to COVID-19 Restrictions
Prominent economic institutes said that the German economy may shrink 1.8% on a quarterly basis in the first three months of this year due to the restrictions of Covid-19, a revision of their joint forecast of growth in Europe’s largest economy. Institutes now expect GDP growth of 3.7% this year, …
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15 April 2021 1:42 pm
Reuters: Investors in Aramco Pipelines Will Refinance Bond Loans Next Year
Saudi Aramco will reduce its shipments of medium and heavy crude for August to at least six Asian buyers, sources familiar with the matter said. The Kingdom of Saudi Arabia, the largest oil producer and exporter in OPEC, to cut production and exports in compliance with the OPEC agreement, reducing …
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15 April 2021 1:38 pm
Gold Rises as Dollar And Yields Fall And All Eyes on US Economic Data
Gold prices rose Thursday, April 15th, supported by the weak dollar and declining US bond yields, while investors awaited the weekly US jobless claims report and March retail sales data for more clarity on the recovery of the world’s largest economy. Spot gold rose 0.5% to $1744.60 an ounce. US …
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15 April 2021 12:45 pm
European Stocks Rising to Record Levels Thanks to Corporate Earnings
European stocks hit a record high Thursday (April 15th) as rising commodity prices lifted mining companies’ shares, while some positive earnings reports dispelled concerns about the pace of immunization from COVID-19 on the continent. The European Stoxx600 index rose 0.3%, gaining for the third session, while mining and travel stocks …
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15 April 2021 12:43 pm
Oil Settled Near Highest Level in a Month
Oil prices stabilized Thursday, April 15th, to hold near the highest level in a month after jumping about 5% in the previous session after the International Energy Agency and OPEC raised oil demand forecasts as major economies recovered from the pandemic. Brent crude rose 4 cents to 66.62 dollars a …
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15 April 2021 12:39 pm
Nikkei Closed Almost Unchanged as Technology Stocks Capped Gains
Japanese stocks closed slightly higher Thursday, April 15th, led by cycle-related companies that will benefit from the global economic recovery and banks that have tracked their US counterparts, while a decline in technology shares curbed gains. The Nikkei index rose 0.07% to 29,642.69 points, after briefly retreating after a major …
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15 April 2021 4:06 am
Powell Reaffirms Reducing Bond Purchases will Take Place Before Raising Interest Rates
The Federal Reserve Chairman Jerome Powell said on Wednesday that the Fed will most likely begin by scaling back the bond-buying before it considers raising interest rates, reiterating the planned reduction of monetary easing policies as the U.S. economy shows recovery signs. “We will reach the time at which we …
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15 April 2021 12:00 am
NYSE Mixed at Close but S&P 500 Scores Another Record High
The New York Stock Exchange (NYSE) finished Wednesday trading session on a mixed note. A rise in Treasury bond yields and the release of the Federal Reserve’s Beige Book, which lowered expectations for economic growth this spring, pressured stocks, especially the tech sector. Moreover, the Beige Book expected a rise …
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14 April 2021 11:45 pm
Oil Closes at Highest Level in a Month
Oil prices continued to rise in Wednesday, supported by the improved outlook demand from the International Energy Agency (IEA), which raised expectations for global demand for crude this year by 230,000. The IEA expects a 5.7 million-barrel a day growth in the global demand for oil in 2021 compared with …
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14 April 2021 11:30 pm
Germany’s Economic Growth Forecasts to Be Revised Lower
Forecasts for Germany’s economic growth for this year are expected to be revised lower to 3.7% from 4.7%, Reuters reported citing sources in German economic institutes. The move comes amid preventive measures against the coronavirus pandemic and lockdowns taking longer than previously expected. Meanwhile, the estimated growth rate for 2022 …
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