CHN50 Drops as China’s Monetary Support Underwhelmed
The central bank of China slashed a series of key interest rates recently, in order to support waning economic growth, but markets were unimpressed and CNH50 continues to drop
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The central bank of China slashed a series of key interest rates recently, in order to support waning economic growth, but markets were unimpressed and CNH50 continues to drop
The index is under pressure after the Bank of England accelerated the pace of tightening on Thursday, in response to the latest hot inflation report
The PBoC lowered a key short term policy rate in order the help the country’s economic recovery, following a series of disappointing economic data, while the CHN50 finds some support
The pair jumped on Tuesday after the Australian central bank surprised again with another rate hike and remains supported today, despite the slower Q1 GDP growth
Headline Inflation decelerated sharply in April as Wednesday’s data showed, but remains elevated and the core surged, keeping pressure on the Bank of England for more monetary tightening and harming the UK index
Headline CPI inflation decelerated to 8.7% y/y in the first sub-10% print since August, as today’s data showed, but Core inflation rose to the highest in thirty one years
On Friday, during a panel discussion, Fed Chair Powell suggested that rates may not climb as much as expected due to credit tightening. Other Fed speakers suggest that FOMC members are developing diverging views. China data hints at a slowing momentum in recovery and EU CPI is still too high. This week sees two more inflation data points – core PCE on Friday and UK inflation on Wednesday. Wednesday will…
President Joe Biden and House Speaker Kevin McCarthy will meet again on Monday to try to find a deal to avoid a U.S. default. Lawmakers are still far apart on an agreement to raise the federal borrowing limit, and time is running out. McCarthy said there's no agreement yet, despite a productive phone call with Biden. Biden called on Republicans to reconsider their extreme positions, as he finds their proposals…
Copper prices rose on Wednesday on hopes for a resolution to the US debt ceiling drama that helped sentiment, but it faces renewed pressure today as the situation remains uncertain and discouraging Chinese data weigh
President Biden met with key Republican and Democratic congressional leaders at the White House on Tuesday. They aimed to reach an agreement to raise the debt limit, but the discussions ended without a consensus.
Debt ceiling negotiations take center stage in Washington today. Treasury Secretary Janet Yellen reiterated on Monday that June 1 is the deadline when the Department of the Treasury might face challenges in meeting its financial obligations if the debt ceiling is not raised. President Joe Biden's meeting with Speaker of the House Kevin McCarthy is expected to be a crucial moment in these negotiations. While Biden expressed cautious optimism during…
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