Mar 18 2024: Asian markets saw gains on Monday, buoyed by encouraging economic data from China, while investors braced themselves for a busy week of central bank meetings that could signal shifts in monetary policies. China’s industrial output rose by 7% annually in January and February, and retail sales increased by 5.5% compared to a year ago. However, concerns lingered over the real estate sector as property investment declined by 9%, highlighting the need for continued policy support. Central banks across the globe, including those in the United States, Japan, UK, Switzerland, Norway, Australia, Indonesia, Taiwan, Turkey, Brazil, and Mexico, are…
Author: editor2
Mar 18 2024: Asian foreign exchange markets remained subdued on Monday, with the dollar maintaining stability near its recent two-week highs. Investors are eagerly anticipating upcoming central bank meetings, particularly those of the Bank of Japan (BOJ) and the Federal Reserve. Last week’s strong U.S. inflation data heightened expectations for potential hawkish signals from the Federal Reserve. Additionally, positive wage data and persistent inflation in Japan fueled speculation about the BOJ’s ultra-loose monetary policies. The Japanese yen showed limited movement on Monday after experiencing volatility driven by uncertainties surrounding the BOJ’s policy decisions. The BOJ’s two-day meeting commenced on Monday, with…
Mar 18 2024: Oil prices in Asian trading extended last week’s gains, increasing nearly 4%. This upward trend reflects perceptions of tightening supply and heightened risks due to ongoing attacks on Russian energy infrastructure. During the Asian session, Brent crude oil futures for May delivery climbed by 32 cents to reach $85.66 a barrel, while the April contract for U.S. West Texas Intermediate (WTI) crude rose by 40 cents to $81.44. The more active May delivery contract for WTI traded 37 cents higher at $80.95 per barrel. Vandana Hari, founder of oil market analysis provider Vanda Insights, highlighted that attacks on…
Mar 18 2024: Litecoin saw a significant 10.15% drop in value, trading at $81.138 . This marks its largest one-day percentage loss since January 3 and brings Litecoin’s market cap down to $6.123 billion, representing 0.25% of the total cryptocurrency market cap. Over the past week, Litecoin has experienced a 7.53% decline in value, with a trading volume of $634.902 million in the past twenty-four hours. Despite trading between $81.138 and $86.317 within the previous twenty-four hours, Litecoin remains substantially lower, standing at 80.68% below its all-time high of $420.00 set on December 12, 2017. In comparison, Bitcoin dropped by 6.64%…
Mar 18 2024: The Japan stock market concluded Monday with significant gains, as the Nikkei 225 index surged by 2.53%. This rise was primarily driven by notable advancements in sectors like Chemical, Petroleum & Plastic, Power, and Mining. At the close of trading in Tokyo, the Nikkei 225 index showed a remarkable gain of 2.53%. Among the top performers on the Nikkei 225 were Rakuten Inc (TYO:4755), which experienced a 7.34% increase or 56.50 points, closing at 826.50. Additionally, Nidec Corp (TYO:6594) rose by 5.91% or 328.00 points, reaching 5,875.00, while Lasertec Corp (TYO:6920) saw a rise of 5.87% or 2,240.00…
Mar 15 2024: On Friday, the dollar remained strong, poised to end a three-week losing streak following hotter-than-expected U.S. inflation data, which hinted at a potential delay in Federal Reserve interest rate cuts. Meanwhile, the yen held steady as traders awaited the Bank of Japan (BOJ) meeting next week, where a significant shift away from its negative interest rate policy could occur, contingent upon Japan Inc delivering anticipated robust wage hikes. Bitcoin prices experienced volatility, retracting from a record high reached on Thursday and declining by 4.43% to $67,541.00. Recent data revealed a 0.6% increase in the U.S. producer price…
Mar 15 2024: On Friday, most Asian currencies experienced declines, while the dollar reached an over one-week high due to hotter-than-expected U.S. inflation data, raising concerns about potential hawkish signals from the upcoming Federal Reserve meeting. Investors were cautious ahead of central bank meetings in Japan and Australia next week, anticipating possible hawkish signals that could impact currency markets. The dollar index and dollar index futures rose by 0.1% each in Asian trading, remaining above the 103 level following stronger-than-expected producer price index data for February. This data, along with earlier robust consumer price index figures, indicated a further deviation from…
Mar 15 2024: Despite a slight dip on Friday, oil prices are set to close the week with a nearly 4% increase, driven by factors such as the International Energy Agency’s upward revision of its 2024 oil demand forecasts and an unexpected decline in U.S. stockpiles. On Friday, Brent crude oil futures fell by 38 cents or 0.4% to $85.04 a barrel at 0751 GMT, following a surge above $85 a barrel on Thursday, marking its highest level since November. Concurrently, U.S. West Texas Intermediate (WTI) crude saw a decline of 35 cents or 0.4% to $80.91. The IEA’s upward…
Mar 15 2024: Bitcoin saw a significant 10% drop in value due to bearish trading, with its price falling to $65,940.0 by 05:15 (09:15 GMT) on Friday. This marks the largest one-day percentage loss since November 9, 2022. As a result of this decline, Bitcoin’s market capitalization decreased to $1,320.0 billion, representing 51.81% of the total cryptocurrency market cap. The cryptocurrency had previously reached a peak market cap of $1,435.8 billion. Within the past twenty-four hours, Bitcoin’s price fluctuated between $65,765.6 and $72,398.1. Over the last week, Bitcoin’s value has remained relatively stable, with only a 0.36% change. The trading…
Mar 15 2024: Telsey Advisory Group has upgraded its rating on Dollar General (NYSE:DG) shares from Market Perform to Outperform, while also raising the price target to $170 from $155. The upgrade reflects the firm’s confidence in Dollar General’s strategic direction under the leadership of CEO Todd Vasos. Dollar General’s management has been commended for restoring stability and financial discipline to the company. Recent initiatives such as a more cautious approach to store expansion in 2024, the introduction of fresh products, and improvements in self-distribution capabilities have received positive feedback. The company’s “Back to Basics” strategy, which prioritizes enhancing the…
