The RBA left the cash rate unchanged at 0.1%, and asset purchases at AUD 4B/month, in October. Despite sharp rise in housing prices, policymakers chose to stick with ultra-easy monetary policy in order to achieve the inflation target and full employment. The central bank remained cautiously optimistic about the economic outlook. Policymakers acknowledged that “the
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The early morning momentum that pushed Bitcoin (BTC) above $50,000 on Oct. 5 continued throughout the day after bulls took control of the market and bid the price of BTC up near the $51,900. Data from Cointelegraph Markets Pro and TradingView shows that after a brief period of consolidation, bulls resumed their drive higher and
NASDAQ recoups 1.25% The NASDAQ index yesterday took on the chin with a decline of -2.14%. Today the index recouped 1.25% of that decline but it could’ve been better. The index was up as much as 1.78% intraday. It is closing up 1.25% on the day. Some highlights: Dow industrial average recouped all of the
Headline CPI in South Korea is 2.5% y/y and 0.5% m/m September ‘core’ CPI is 1.5% y/y (up from 1.3% in August) highest since October 2017 — The Bank of Korea (BOK – Korea’s central bank) raised its 2021 inflation outlook to 2.1% (from its earlier 1.8%). The BOK aims to keep inflation at 2%
LONDON/MOSCOW: WhatsApp‘s nearly six-hour long outage on Monday hit trading of assets from cryptocurrencies to Russian oil, market players said, although a quick shift to alternative platforms such as Telegram limited severe disruption. Despite many financial institutions discouraging employees from using messaging services such as WhatsApp and other Facebook platforms that went down on Monday,
The current spate of inflation won’t last and ultimately will fall below the Federal Reserve’s target, Chicago Fed President Charles Evans said Tuesday. While inflation by some measures is running at a 30-year high, Evans told CNBC that the supply chain bottlenecks and other issues will subside and price pressures will fade. “I’m comfortable in
In this article PEP Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo on Tuesday raised its full-year forecast after its quarterly earnings and revenue topped analysts’ expectations, despite higher costs and snarls in the supply chain. Shares of the company fell less than 1% in premarket
Early Wednesday morning in Asia, Reuters came out with the news from the Australian Prudential Regulation Authority (APRA), the Aussie banking regulator, unveiling the efforts to tame housing prices. “Australia’s banking regulator on Wednesday tightened restrictions on home lending as rapid loan growth fed surging prices and posed a risk to financial stability,” said Reuters.
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Market sentiment is stable today, with European index trading mildly higher while US futures point to a rebound. But overall direction remains rather unclear. Sterling is currently the stronger one, with additional help from buying against other European majors. Kiwi is also firmer, awaiting tomorrow’s RBNZ rate hike, followed by Dollar. On the other hand,
WTI trades up 0.2% to $77.80 on the day Invest in yourself. See our forex education hub. The $78 level poses some light psychological resistance for oil but essentially, it is all about the ability for buyers to keep the upside momentum running after the break to its highest levels since 2014 in trading yesterday.
Remarks by US Treasury secretary, Janet Yellen Failure to raise debt limit could hurt reserve status of the dollar, cause recession Supports bipartisan action to raise debt ceiling Not anything that hasn’t been said before as she doesn’t want to step into the toes of lawmakers in Congress as they sort the issue out. Invest
NEW DELHI: Gold prices eased on Tuesday as the dollar rose but kept the bullion close to a week’s high. Rising energy prices may dampen economic activities and dent appetite for riskier assets. Gold futures on MCX eased 0.18 per cent, or Rs 83, to Rs 46,804 per 10 gram. Silver futures were also down
Gold price is consolidating the retreat from weekly highs of $1771, as the market mood improves and caps the rebound in the US dollar across its main peers. However, the downside remains more compelling for gold price as looming concerns about higher price pressures, the US debt ceiling and China’s debt-laden property developers will continue
While some selling pressure is seen in Asian stocks, the forex markets are relatively steady. Canadian Dollar is currently the stronger one, followed by Yen. Sterling is the softer one, followed by Swiss France, Euro and Dollar. Overall risk sentiment will continue to drive the markets this week and hence we’ll have some attention on
Twitter user Lauren Walker tweeted a message claiming she was “stealing” nonfungible tokens, only to have crypto-Twitter turn around and mint her words into a token listing for thousands of dollars. In an Oct. 2 post on Twitter, Walker mockingly said her current collection of nonfungible tokens, or NFTs, was valued at more than $8
Nasdaq lower for the 6th time in 7 days. The major US indices are ending sharply lower with the brunt of the damage done in the Nasdaq index. The NASDAQ closes at its lowest level since June 22 The NASDAQ is down 7.5% from its all-time high The S&P index is closing 5.40% from its all time
Posting this as some local Australian political news. NSW is Australia’s largest population state and home to its largest city of Sydney. Previous Premier Gladys Berejiklian resigned last week when an investigation was launched into her conduct. Berejiklian had steered NSW through its COVID-19 outbreak to a point where Sydney is on the verge of a much-awaited