Source: Bloomberg The Central Bank of the Republic of Turkey on Thursday maintained policy rates, while shifting to a more hawkish stance. The Monetary Policy Committee left the benchmark interest rate at 19% for the third consecutive month, in line with market expectations.The central bank said it wills current "tight" policy stance will continue to be maintained … [Read more...] about Turkey Keeps Rate at 19% but Adopts Hawkish Stance
Forex News
Rate Hike Expectations Drag Global Markets
Source: WSJ A number of stock markets across the globe retreated on Thursday, dragged by remarks of Federal Reserve officials hinting a possible rate hike in 2023. Declines were recorded on futures linked to the S&P 500, Nasdaq 100, and Dow Jones Industrial Average.Retreats were noted in most overseas markets -- the Stoxx Europe 600, Japan's Nikkei 225, South Korea's … [Read more...] about Rate Hike Expectations Drag Global Markets
Unemployment Rate in Hong Kong Falls for the third month to 6% in May
Source: Bloomberg Unemployment rate in Hong Kong fell to 6% in May, signaling the city’s likely step out from lengthy inflation. USDHKD is up 0.02% The 6% rate came below a consensus forecast of 6.2%.Unemployment rate came down for three months in a row, this was last witnessed in March 2011 when the rate fell for 5 consecutive months from November 2010.Number of … [Read more...] about Unemployment Rate in Hong Kong Falls for the third month to 6% in May
China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
Source: Bloomberg Continued trade wars between the US and China is costing global value chains about 3-5 years of growth. SPY is down -0.56%, CSI 300 is up +0.42%, USDCNY is up +0.61% The report by the United Nations Development Programme pokes holes on economic recovery in China and the Asia-Pacific region following trade wars. UNDP says the absence of … [Read more...] about China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
Canada’s Inflation Surges to 10-Year High on Shelter, Vehicle Prices
Source: Statistics Canada Canada's inflation accelerated to its fastest pace in a decade in May, on the back of base effects and higher shelter and vehicle prices. The Consumer Price Index climbed 3.6% in May from 3.4% in April. This is the fastest in 10 years since May 2011.The CPI climbed 0.5% month-on-month, the same growth recorded in April.Base effects affected price … [Read more...] about Canada’s Inflation Surges to 10-Year High on Shelter, Vehicle Prices
