Forex News for 27 March, 2023
March 27, 2023 80 Views
- Neel Kashkari, a member of the FOMC, suggested that the Fed is observing the recession risks associated with recent bank turmoil very closely, implying that the Fed may have reached its maximum interest rates.
- First Citizens BancShares Inc purchased all of SVB’s loans and deposits and in exchange granted the FDIC equity rights worth up to $500 million.
- North Korea launched two short-range ballistic missiles into its eastern waters while the United States moved an aircraft carrier strike group to a South Korean naval base.
- China’s industrial enterprises experienced a 22.9% year-over-year decline in profits during the January-February period due to high costs and lackluster demand.
- In a speech yesterday, the Governor of Sweden’s Riksbank stated that due to Swedish inflation remaining stubbornly high at 9.4%, well above the bank’s 2% target, the central bank will probably need to raise its interest rate from the current 3%.
- The global markets have begun the week in a mixed and subdued manner. However, futures in the S&P 500 Index and the NASDAQ 100 Index are both currently trading higher than their respective Friday closes. As no significant data releases are scheduled for today, it is expected to be a quiet Monday.
- Japan’s services producer price index experienced its third consecutive monthly increase, rising from 1.6% to 1.8% year-over-year in February.
- Russia’s President Putin declared that they have the capability to transfer tactical nuclear weapons to Belarus.
- Bitcoin’s price appears to be bullish, as it continues to stay above the crucial support level of $27,458. So far, this level has been holding up.
- Germany’s Ifo business-climate index climbed from 91.1 to 93.3 in March, its highest level since May 2022, as business expectations improved.