LA PAZ (Reuters) – Bolivia’s senate early on Friday morning gave final approval to a so-called “gold law” aimed at strengthening the country’s foreign currency reserves. The legislation, which was supported by the ruling party and allows the central bank to monetize its gold reserves, will now be sent to President Luis Arce to sign […]
Economic News
Economic News
Economic News
05
May
May
Dollar retreats ahead of nonfarm payrolls
Most Asian currencies advanced on Friday, capitalizing on sustained weakness in the dollar as markets bet on a potential pause in the Federal Reserve’s rate hike cycle, with focus turning to key labor data due later in the day. The rate-sensitive South Korean won was the best performer for the day, rising 0.5% in an extension of […]
04
May
May
ECB Rate Decision in Todays Calendar
Wall Street declined sharply after yesterday’s FED interest rate hike. FOMC delivered a 25 basis point increase to 5.00-5.25% – the highest level since June 2006 peak. Although the Fed suggested it may slow down its rate hike cycle, Jerome Powell emphasized that interest rates may still increase if inflation persists. Currently, the markets have […]
04
May
May
The Morning Market Wrap
GOLD has once again tested this year’s highs around $2069 per ounce after the Fed’s decision on interest rates yesterday. The price has slightly pulled back from the peaks, but it still remains above $2000.
04
May
May
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Global gas markets rebalancing, to remain tight in 2023- IEA
LONDON (Reuters) – Global gas markets are gradually rebalancing but are expected to remain tight in 2023 amid lower Russian pipeline gas deliveries to Europe, the International Energy Agency (IEA) said on Thursday. The European and global gas markets suffered a major supply shock in 2022 when Russia reduced its pipeline gas deliveries to the […]
04
May
May
Chile peso to hold stable as economic and political worries fade: Reuters poll
BUENOS AIRES (Reuters) – The Chilean peso is set for a period of stability as economic and political worries continue to fade, validating the central bank’s decision to unwind an intervention program implemented last year to calm market turmoil, a Reuters poll showed. In July last year, the peso plunged to a record low of […]
04
May
May
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Dollar slides on bets of Fed pause
Most Asian currencies strengthened on Thursday, while the dollar extended steep overnight losses as a warning on economic growth and a potential banking crisis spurred growing bets that the Federal Reserve was done hiking interest rates. While the Fed hiked rates by 25 basis points as expected on Wednesday, comments from Chair Jerome Powell offered a less […]
03
May
May
The Morning Market Wrap
Crude oil scored a weak session yesterday. OIL.WTI quotes are on track to test support at the round $70 level. Source: xStation5
03
May
May
Dollar in defensive mood
SINGAPORE (Reuters) – The dollar eased on Wednesday, with investors expecting a hike in U.S. interest rates later in the day, but unsure how long the Federal Reserve will keep policy tight considering the latest gloomy jobs data and U.S. debt ceiling and banking sector risks. U.S. job openings fell for a third straight month […]
03
May
May
Asia FX creeps higher, dollar dips ahead of Fed rate hike
Most Asian currencies crept higher from recent losses on Wednesday, while the dollar relinquished some gains as markets hunkered down before a widely expected interest rate hike by the Federal Reserve later in the day. Market holidays in China and Japan kept regional trading volumes slim. Still, the Japanese yen rose 0.4%, recovering from a near two-month […]