Bloomberg Passing the peak in European inflation may be good news for consumers, businesses and central bankers, but it’s too soon to sound the all clear. Reports have shown price gains from Germany to Spain easing more than economists expected in December after natural-gas costs retreated and government aid kicked in. Those falls, however, mask intensifying pressure in gauges that ...
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China’s onshore yuan witnesses few trades
Bloomberg China extended trading hours for the onshore yuan as it attempts to internationalise the currency, but the move was met with tepid response with only a few local banks equipped to participate during those hours. The dollar-onshore yuan trading volume during the extended hours, totalled $128 million on the first day, according to China Foreign Exchange Trade System ...
Read More »British Pound stands to lose out from yen’s comeback this year
Bloomberg Few major currencies stand to lose out as much from the yen’s comeback as the British pound this year. Investors have been dumping sterling on the view that a weakening UK economy will prevent the Bank of England from being as hawkish as its counterparts in the rest of the world. The difference is most pronounced when compared ...
Read More »Deutsche Bank strategist feels ‘lonely’ on stock rally
Bloomberg The year ahead will be better for European stocks than many think as inflation peaks and rates normalise, according to a Deutsche Bank AG strategist. “Although earnings are likely to fall in 2023, fewer macro risks and lower rate volatility should be supportive for equity markets,†Maximilian Uleer wrote in a cross-asset outlook note. Consensus is “overly pessimistic ...
Read More »Citi trims India’s current account deficit forecast
Bloomberg Citigroup Inc has trimmed India’s current account deficit forecast for the current financial year ending in March, after services exports grew unexpectedly and oil prices moderated. The shortfall in current account, the broadest measure of trade in goods and services, will probably be at 2.9% of gross domestic product, according to Citi’s India economist Samiran Chakraborty. That is ...
Read More »Rupee bond sales set to halt
Bloomberg Rupee-denominated bond sales are set to grind to a halt in a few days as India’s government upgrades an online portal used by companies to file regulatory documents. Starting from January 7, the Ministry of Corporate Affairs portal will be unavailable for companies to file a so-called PAS-3 form, or “return-of-allotment†form, as the administration migrates to a ...
Read More »BOJ boosts bond buying for fourth day to cap rise in yields
Bloomberg The Bank of Japan’s (BOJ) decision to double its 10-year yield ceiling was meant to improve market functioning. So far it’s triggered even heavier intervention from the central bank, threatening to reduce liquidity further in the local bond market. The BOJ announced a fourth day of unscheduled bond buying, offering to buy unlimited amounts of two- and five-year ...
Read More »China markets kick off ’23 with a bang as policy shift quickens
Bloomberg Chinese shares are off to a strong start in 2023, putting behind a dismal year as fears of isolationist policies give way to signs of an economic powerhouse turning friendlier to both the outside world and its own entrepreneurs. The MSCI China Index has risen 5.3% since trading resumed, marking the best start to any year since 2009, ...
Read More »Stocks, futures climb on China, rates optimism
Bloomberg Stocks advanced with US futures as favourable news reports from China and data from Europe boosted risk appetite. The dollar falls and Treasuries rise. Contracts on all three major US gauges rise, while the Stoxx Europe 600 Index saw broad gains. Hong Kong shares rallied as China considered further support for property developers. Tesla Inc rises, poised for ...
Read More »UAE condemns storming of Al-Aqsa Mosque courtyard by Israeli minister
Abu Dhabi / WAM The UAE on Tuesday strongly condemned the storming of Al-Aqsa Mosque courtyard by an Israeli minister under the protection of Israeli forces. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) reiterated its firm position on the need to provide full protection for Al-Aqsa Mosque and halt serious and provocative violations taking ...
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