The NZD/USD pair is currently facing a substantial downturn, hovering around 0.5996. This decline can be attributed to a multitude of factors, including recent global political developments and domestic monetary policy expectations. The surprising announcement by US President Joe Biden that he will not be seeking re-election in 2024 has unexpectedly boosted the US dollar.
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Ukraine made an announcement on Monday regarding a preliminary agreement with a group of bondholders to restructure $19.7 billion in debt. This ad hoc group, which controls 22% of the bonds, has shown support for the deal. Additionally, investors holding an additional 3% of bonds have also indicated their approval. The next step involves bondholders
The New Zealand Dollar (NZD) has been facing a downward trend recently, with FX strategists Quek Ser Leang and Peter Chia from UOB Group noting that there is still potential for the NZD to drop below 0.6000. In the 24-hour view, it was mentioned that even though the NZD declined as expected, it dropped more
China’s decision to cut short and long-term rates by 10 basis points came as a surprise to many analysts. The move was unexpected, especially considering that the People’s Bank of China had previously been guiding bond yields higher. Ben Bennett, Head of Investment Strategy for Asia at LGIM in Hong Kong, emphasized the timing of
EUR/USD has seen a steady increase recently, breaking through the 1.0910 resistance level. The pair managed to climb above the 1.0910 resistance, entering a bullish zone. However, it seems to be currently correcting its gains as it dropped below the 1.0910 level. The pair is now testing the 23.6% Fib retracement level from its recent
China’s decision to lower key short-term policy rates and benchmark lending rates came as a surprise to many in the market. The move was a response to weaker-than-expected second-quarter economic data and the country’s struggle to combat deflation, a property crisis, surging debt, and weak consumer and business sentiment. Additionally, mounting trade tensions and concerns
The EUR/USD pair edged higher to 1.0895 in Monday’s early Asian session, up 0.12% on the day. This increase can be attributed to Fed’s Williams statement that the US central bank is “getting us closer to a disinflationary trend that it’s looking for.” The rising bets on the Federal Reserve rate cut in September and
Recently, Nataxis Asia Pacific Chief Economist Alicia Garcia Herrero expressed disappointment in China’s industrial policies following the Third Plenum. She noted a lack of significant change in direction towards consumption-led growth or market forces. Economists are predicting an increase in the Chicago Fed National Activity Index from 0.18 in May to 0.30 in June. This
Rachel Reeves, the new finance minister in Britain, is contemplating the implementation of inflation-busting pay increases for nearly 2 million government employees in an attempt to prevent potential public sector strikes. The proposed pay rises, recommended by two government advisory bodies, would equate to a 5.5% raise for 460,000 teachers and 1.4 million National Health
The upcoming setting of China’s one-year and five-year Loan Prime Rates (LPR) by the People’s Bank of China (PBoC) could potentially have a significant impact on the Australian economy. Economists are expecting the LPRs to remain steady at 3.45% and 3.95% respectively. However, any unforeseen rate cuts could lead to increased demand for the Australian
Dave Nadig, a well-known ETF journalist and financial futurist, believes that the recent surge in money flow into small caps is not necessarily a result of a rotation from winning growth trades. Instead, Nadig suggests that investors are simply engaging in a diversification trade. He argues that investors are broadening their exposure across various sectors
The disclaimer provided on this website is clear in its message that the content is for educational and research purposes only. It emphasizes the importance of performing one’s own due diligence checks and consulting competent advisors before making any financial decisions. This is a crucial aspect to consider in the world of investments, where risks
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