The vast majority of Asian currencies rose sharply. The dollar fell to a nine-month low even after the Fed raised interest rates significantly, with markets betting that the US economic slowdown will force the bank to reverse its dovish stance this year. The Chinese yuan rose 0.44% against the dollar to hit a seven-month high. …
On Tuesday, the dollar was on track for a fourth monthly loss as investors speculated that a peak in US interest rates could come as soon as this week’s Federal Reserve meeting. Before the Fed rate decision on Wednesday and the Bank of England and European Central Bank rate announcements on Thursday, there was a …
The euro rose on Monday as hopes for an increase in eurozone printing rose on Wednesday after Spain’s inflation figures came in unexpectedly high. At the same time, the dollar remained close to an eight-month low ahead of several central bank meetings this week. After data showed that Spain’s consumer prices increased 5.8% in January …
Oil prices held steady on Wednesday after falling the previous session, as an increase in U.S. crude inventories and global recession fears offset optimism for a Chinese demand recovery. Due to the end of China’s COVID-19 controls and expectations that the rise in US interest rates will soon slow, crude has increased in 2023, with …
The euro remained at a nine-month high against the dollar. Still, European stocks fell after regional business activity data confirmed expectations that the European Central Bank (ECB) will raise interest rates by another 50 basis points. According to a survey, eurozone business activity unexpectedly increased in January, indicating that the bloc’s downturn may not be …
When much of the world experienced a major recession in 2008-2009, China managed to weather the storm and buoy the global economy through massive government spending efforts. In 2022, the country’s economy will grow by only 3%. According to a December survey of 37 economists by Nikkei, growth will remain slow in the first three …
As market participants bet on the Federal Reserve of the United States reducing the size of its interest rate hikes for a second consecutive meeting in February, the dollar started the week testing a new nine-month low. The “quiet period” for the Federal Reserve begins before its policy meeting on February 1. However, a report …
Oil prices increased Monday to $88 per barrel, extending gains from the previous week due to a more optimistic outlook brought on by expectations for an economic recovery in China, the world’s largest oil consumer, this year. West Texas Intermediate (WTI) U.S. crude increased 33 cents, or 0.4%, to $81.97 per barrel at 1025 GMT, …
After a sharp decline in eurozone government bond yields on Tuesday due to the Bank of Japan’s decision to maintain its ultra-loose monetary policy, there was a slight decline on Wednesday in choppy trading. The yield on Germany’s 10-year government bonds, which serves as the benchmark for the currency union, was last down two basis …
The week started off poorly for the dollar, which saw its value decline against a group of significant rivals to a seven-month low in Asian trade before stabilizing. Because traders were betting that the Bank of Japan would continue to alter its yield control policy, the yen was given special attention. The euro reached a …
The Dollar Regains Stability Close to A Seven-Month Low Read More »
The U.S. dollar retreated from a seven-month low on Tuesday. Meanwhile, the Japanese yen fell ahead of the Bank of Japan meeting. The Dollar Index increased 0.1% to 102.005 on Tuesday after falling to a seven-month low of 101.77 on Monday. Early on Tuesday, the dollar found some support, but the market now agrees that …
China’s economy expanded at a 3% annual rate last year, less than half the rate projected for 2021. European stocks fell, while Asian shares were mixed as investors awaited whether the Bank of Japan would change its long-term policy of keeping its key interest rate at -0.11% at the end of a meeting on Wednesday. …
Global Equities Fall as China’s Economy Slows Further Read More »
Due to the fact that revenues from oil and gas exports are heavily based on global benchmark prices traded in dollars, analysts predict that sales of foreign currencies will cause the Russian ruble to increase, further decreasing Russia’s ruble income. Russia’s efforts to plug its budget deficit by selling foreign currency reserves could create a …
The dollar fell to a seven-month low versus major peers on Monday. Meantime, the yen soared to a more than seven-month high as traders increased their bets that the Bank of Japan might make additional adjustments to its yield control policy at its meeting this week. After reaching a high of $0.7019 earlier in the …
Oil prices increased on Friday, with the week’s gain anticipated to be over 6%, as a result of strong indications of rising demand in the world’s largest oil consumer, China, and anticipations of more gradual interest rate increases in the United States. Brent crude futures rose 5 cents to $84.08 per barrel, up from $83.50 …
