As OPEC+ contemplates lowering output by more than 1M BPD, for its greatest decrease since the epidemic, to bolster the market, oil prices increased by more than 3% in early Asian trade on Monday. By 0622 GMT, Brent oil futures had recovered $2.36, or 2.8%, from their Friday low of $87.50 a barrel. After falling …
OPEC+ Biggest Output Cut Since 2020 Shakes the Market Read More »
Japan used a record amount of 2.8T yen ($19.7B) of its easily accessible money to intervene in the foreign exchange market in support of the declining yen. This represents around 15% of Japan’s total available resources. The amount was lower than the 3.6T-yen forecast made by traders on the Tokyo money market for Japan’s first …
Most Asian currencies modestly increased on Tuesday as the dollar’s run below 20-year highs halted. At the same time, the Chinese yuan declined to a new two-year low. The Singapore dollar increased by 0.2%, while the Japanese yen and Indian rupee gained 0.3%. The New Zealand dollar outperformed all other currencies in the Asia-Pacific region. …
The Yuan Declines as Asian Equities Fall Even Further Read More »
Following a steep decline last week, oil prices remained close to eight-month lows on Monday as investors worried that a weakening global economy would reduce demand for petroleum. By 21:30 E.T., U.S. West Texas Intermediate futures were steady at $78.67 per barrel, and London-traded Brent oil futures were up 0.3% to $85.29 per barrel (01:30 …
The yuan slipped below a key level on Monday after further easing of monetary policy. Other Asian currencies fell in anticipation of a Federal Reserve meeting later this week. The yuan saw a 0.4% drop. It traded at 7.0080 against the dollar. The Chinese currency crossed the significant seven thresholds for the second day in …
Just over half of the economists predict that Japan would not step in to stop the yen’s drop, while a fifth suggested that intervention could be necessary if the yen fell below 150 to the dollar. The yen has lost nearly 20 percent against the dollar this year. It hit a 24-year low of 144.99. …
Turnover for ThinkMarkets, decreased 38% to £2.73 million this year from last year’s £4.38 million. Think Markets is a UK business of Melbourne-based broker. Although its executive expenses decreased, the company’s operating profit for 2021 was still higher than last year’s £206,556 at £250,112. With other interests and income amounting to £68,000 (unchanged from the …
ThinkMarkets UK Records Profit Jump Despite 38% Revenue Dip Read More »
The US dollar rose in early European trading on Thursday as buyers readjusted their positions ahead of next week’s Fed meeting. The yen also struggled to maintain the uptrend of the previous session. The Dollar Index compares the dollar’s value against six other currencies. It rose 0.2% to 109.593 at 02:50 ET (06:50 GMT), not …
Yen Resumes Its Downward Trend, Will It Recover Soon? Read More »
On Tuesday, the majority of Asian stock markets marginally increased as investors grew cautiously hopeful about impending data that indicated a persistent decrease in U.S. inflation. After the market closed on Tuesday, Japanese equities rose as increases in the railway & bus, transportation, and retail sectors drove up stock prices. The Nikkei 225 gained 0.25% …
China was an exception as dismal data signaled additional pressure on the COVID-hit economy, but Asian equities rode a global rebound on Thursday, enjoying wide gains as oil prices stabilized at lower levels only seen previous to the Russian-Ukraine War. Despite an anticipated ECB rate rise and concerns about an energy crisis, futures markets indicated …
Despite Fears Over China COVID, Asian Equities Rise Read More »
On Wednesday, the dollar ruled everything it surveyed, reaching a new 24-year top against the yen and nearing a 20-year high against the euro as U.S. economic data supported the Federal Reserve’s intention to continue its aggressive policy tightening. The American dollar was also boosted by global economic turbulence that drove investors to safety. …
More Trouble Ahead for the Yen Amid U.S. Yield Rise Read More »
On Tuesday afternoon, Asian markets mostly erased morning gains as investors maintained their caution ahead of this week’s meeting of the European Central Bank while also keeping an eye out for any consequences of Russia’s gas curtailment. Following Monday’s Labor Day holiday break, U.S. equities are expected to begin higher on Tuesday, with E-mini …
What You Need to Know Before Trading in Asian Markets Read More »
Sterling was in trouble and the euro dropped to below 99 cents for the first time in nearly two decades on Monday. The fall was due to worries about rising energy costs and economic growth raised by Russia’s shutdown of its main gas pipeline to Europe. In Asian trading, the euro fell to $0.9880, …
Euro on a Highway to Hell, Here Is What You Need to Know Read More »
If the United States enters a recession, Asia will not be spared, but some Southeast Asian countries may be hurt more than others, economists warn. The war between inflation and recession continues in the United States as the Federal Reserve maintains its aggressive position on interest rate hikes. The United States has already seen two …
The U.S. recession will most certainly harm Asia Read More »
The European stock market fell and the dollar continued to strengthen. New restrictions to curb the spread of the virus in China added to investor concerns about the global economy’s health. The Stoxx Europe 600 was down 0.6% in early trade after Chinese shares fell sharply amid new Covid-19 restrictions. Germany’s Dax fell 0.8%. USD/JPY …
