Feb 9, 2024: Japanese stocks reached their highest level in 34 years on Friday, as global equities eyed a potential third consecutive week of gains. Meanwhile, developments in interest rate expectations pushed the yen to its lowest level in over two months, while the Australian and New Zealand dollars saw divergent movements. In China, mainland markets remained closed, and trading in Hong Kong was thin, with the Hang Seng index down 0.8%. Investors were nervous amid concerns that authorities might not follow through on promises to provide support, particularly as the new Lunar New Year began against a backdrop of subdued…
Author: editor2
Feb 8, 2024: On Thursday, the Reserve Bank of India (RBI) opted to keep interest rates unchanged, a decision widely anticipated, emphasizing its commitment to curbing inflation amidst robust economic growth in the nation. The RBI maintained its policy repo rate at 6.5%, marking the fifth consecutive meeting without a change, following indications of concluding its tightening cycle in mid-2023. Governor Shaktikanta Das, speaking in a livestream, reiterated the bank’s dedication to maintaining tight policy measures to align inflation closer to its 4% target. He highlighted the rapid expansion of the Indian economy, anticipating it to continue outperforming global counterparts in…
Feb 8, 2024: Oil prices continued to rise on Thursday as Israel rejected a ceasefire proposal from Hamas, while a decline in the value of the dollar also contributed to the upward momentum. At 0400 GMT, Brent crude futures increased by 30 cents, or 0.4%, reaching $79.51 a barrel, while U.S. West Texas Intermediate crude futures climbed by 26 cents, or 0.4%, to $74.12 a barrel. Tensions in the broader Middle East region have kept the oil market on edge since October, with minimal advancements in negotiations aimed at resolving the conflict in Gaza. Israeli Prime Minister Benjamin Netanyahu dismissed Hamas’…
Feb 8, 2024: Most Asian currencies saw slight gains on Thursday as the dollar and Treasury yields eased from recent highs, although concerns over deflation in China continued to weigh on sentiment. With expectations for early rate cuts by the Federal Reserve dialed back following strong economic data and hawkish comments from Fed officials, markets are now focused on U.S. interest rates. This shift in sentiment has contributed to a pullback in the dollar from its recent three-month high, along with a retreat in U.S. Treasury yields. Asian currencies edged higher, with the Australian dollar performing well after the Reserve…
Feb 8, 2024: According to blockchain analytics firm Chainalysis, payments from cryptocurrency-related ransom attacks surged to a record $1 billion in 2023, nearly doubling from the previous year. Scammers targeting institutions such as hospitals, schools, and government offices for ransom amassed $1.1 billion in 2023, compared to $567 million in 2022. However, losses stemming from other cryptocurrency-related crimes like scamming and hacking decreased during the same period. The largest cryptocurrency, Bitcoin, saw a 60% surge since the end of September, reaching $43,134. This uptrend was fueled by enthusiasm surrounding a new U.S. bitcoin ETF and indications that central banks worldwide would…
Feb 8, 2024: Australia stocks ended the trading session on Thursday in positive territory, with gains primarily driven by the IT, Utilities, and Financials sectors. At the close in Sydney, the S&P/ASX 200 rose by 0.31%. Among the top performers on the S&P/ASX 200 were AGL Energy Ltd (ASX:AGL), which surged by 10.21% or 0.82 points to reach 8.79 at the close. Nuix Ltd (ASX:NXL) also performed well, gaining 6.33% or 0.10 points to close at 1.72, while News Corp B DRC (ASX:NWS) climbed by 6.30% or 2.48 points to 41.85 by the end of trading. Conversely, the session saw declines,…
Feb 7, 2024: TOKYO (Reuters) – The dollar remained on the defensive on Wednesday after pulling back from its recent peak against the euro, a decline attributed in part to lower U.S. bond yields. Analysts cited technical factors for the dollar’s retreat, which followed a two-day surge against the euro fueled by robust U.S. jobs data and more hawkish comments from Federal Reserve Chair Jerome Powell, dampening expectations of an early interest rate cut. U.S. Treasury yields also declined from their recent highs, as solid demand emerged at a sale of new three-year notes, further weighing on the dollar’s momentum.…
Feb 7, 2024: TOKYO (Reuters) – The dollar remained on the defensive on Wednesday after pulling back from its recent peak against the euro, a decline attributed in part to lower U.S. bond yields. Analysts cited technical factors for the dollar’s retreat, which followed a two-day surge against the euro fueled by robust U.S. jobs data and more hawkish comments from Federal Reserve Chair Jerome Powell, dampening expectations of an early interest rate cut. U.S. Treasury yields also declined from their recent highs, as solid demand emerged at a sale of new three-year notes, further weighing on the dollar’s momentum. In…
Feb 7, 2024: BEIJING (Reuters) – China’s new yuan loans are anticipated to experience a significant surge in January compared to the previous month, as the central bank takes measures to bolster the uneven recovery in the world’s second-largest economy. Typically, Chinese lenders front-load loans at the start of the year to attract high-quality customers and expand their market share. According to a survey of 24 economists, banks are projected to have issued 4.50 trillion yuan ($626.02 billion) in net new yuan loans last month, marking a substantial increase from the 1.17 trillion yuan recorded in December. While this figure is…
Feb 7, 2024: Asian currencies maintained stability on Wednesday, recovering slightly after recent declines as the dollar pulled back from its recent three-month peak. However, apprehension persisted among traders due to the likelihood of sustained higher U.S. interest rates. Over the past three sessions, regional currencies experienced significant losses following robust U.S. economic data releases and hawkish remarks from Federal Reserve officials, which led traders to largely discard expectations of early rate cuts by the central bank. The dollar, buoyed by this trend, remained near its strongest levels since early November. While both the dollar index and dollar index futures saw…
