Turkey's financial markets tumbled, dragged by concerns on the country's currency following the dismissal of its central bank chief. The Borsa Istanbul Banks Index fell 9.5%. The lira weakened by more than 9%, within a few percentage points of its record-low reached on November 6 or the day before Naci Agbal was appointed.Turkey's benchmark 10-year local-currency bond rose … [Read more...] about Turkish Markets Tumble After Surprise Ouster of Central Bank Chief
Forex News
Germany is Preparing a Debt Supplement of More than 60 Billion Euros
Germany is reportedly working on a debt-financed supplementary budget of more than 60 billion or $71 billion, according to Reuters. The debt will push up net new borrowing to a record of over 240 billion euros this year due to the Covid-19 pandemic. Germany’s massive fiscal push is needed because of a longer-than-expected coronavirus lockdown.Finance Minister Olaf Scholz is … [Read more...] about Germany is Preparing a Debt Supplement of More than 60 Billion Euros
U.S. Jobless Claims Rise above Expectations to Hit 770,000
U.S. jobless claims for the week ending March 13 was 770,000, up 45,000 from the previous week, according to the Department of Labor press release. The claims were higher than the consensus estimate of 700,000. Previous week jobless claims were revised up by 13,000 from 712,000 to 725,000.Continuing claims totaled 4.124 million, down from 4.142 million the previous week … [Read more...] about U.S. Jobless Claims Rise above Expectations to Hit 770,000
USD/JPY Forecast Ahead of the BoJ Interest Rate Decision
The USD/JPY recent rally has paused as investors continue to watch the performance of the bond market and the upcoming review by the Bank of Japan (BOJ). The pair is trading at 109.20, where it has been for the past few days. Japan has responded to the pandemic well The Japanese economy has been relatively resilient during the coronavirus pandemic. While the country’s … [Read more...] about USD/JPY Forecast Ahead of the BoJ Interest Rate Decision
Canadian Consumer Price Index Rose at a Faster Rate in February
Canadian Price Index rose at 1.1%, faster than January’s 1.0%, according to Statistics Canada press release. On a seasonally adjusted monthly basis, the CPI rose 0.1% in February. Gasoline prices supported consumer price growth, recording 5.0% gains on a year over year basis.Gasoline prices increased for the third consecutive month, up 6.5% in February compared to … [Read more...] about Canadian Consumer Price Index Rose at a Faster Rate in February
