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
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
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
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
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The second-quarter results of U.S. banks have revealed a concerning trend of increased provisions for credit losses, driven by deteriorating commercial real estate (CRE) loans and high-interest rates. In response to this, regional lenders like M&T Bank are gradually reducing their exposure to the troubled CRE sector and repositioning their balance sheets to concentrate on
The Brent oil price experienced a significant drop to a monthly low of USD 83.5 per barrel this week due to weak Chinese data. This volatility in the market was closely followed by a recovery, as noted by Commerzbank’s commodity strategist Carsten Fritsch. Despite the initial fall in prices, the time spreads of the Brent
The European Central Bank (ECB) recently held its rates steady and its President, Christine Lagarde, hinted at the possibility of further interest rate cuts in the near future. While Lagarde stopped short of declaring victory over the bout of high inflation caused by the COVID-19 pandemic, two ECB policymakers, French governor Francois Villeroy de Galhau
Netflix, Inc. reported a substantial increase in its second-quarter earnings, showcasing its dominant position in the streaming industry. The company exceeded expectations by reaching 277.65 million global paid memberships, marking a significant 16.5% year-over-year growth. Additionally, revenue surged by 17% to $9.56 billion, driven by a combination of membership expansion and a remarkable 34% increase
Recent statements from top Chinese officials have highlighted the country’s commitment to focusing on its own affairs amidst escalating trade tensions with various nations. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, emphasized the importance of concentrating on internal matters to ensure the smooth running of
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