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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The policy of raising interest rates and Corona confuse global markets: the dollar is stabilizing an

    Rocky
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    The policy of raising interest rates and Corona confuse global markets: the dollar is stabilizing an Empty The policy of raising interest rates and Corona confuse global markets: the dollar is stabilizing an

    Post by Rocky Thu 29 Dec 2022, 6:06 am

    [size=35][size=35]The policy of raising interest rates and Corona confuse global markets: the dollar is stabilizing and oil is declining[/size]
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    Economie

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    2022-12-29 | 06:25
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    Alsumaria News - Economy

    As the end of the year approaches, global markets are still under the weight of the policy of raising interest rates, in addition to fears of an increase in Corona cases in China after lifting the zero Covid policy measures. European stocks fell due to growing fears of slowing economic growth, and the Nikkei index closed lower, tracking the weak performance of Wall Street.


    As for the strong dollar, it stabilized on Thursday, after the rise in long-term US Treasury yields. Oil prices fell due to the impact of the increase in Corona cases in China.

    European stocks and the influence of central banks








    European stocks fell, Thursday, amid limited trading during the holidays, as markets approach the end of a difficult year in which they suffered from geopolitical tensions and growing fears of an economic slowdown on the back of central banks' decisions to raise interest rates at large. rates, according to Reuters.

    The Stoxx 600 index fell 0.4 percent. For the year as a whole, it is down 12.8 percent so far.

    After recovering for a short period this week, markets around the world are worried about Beijing's move to further ease Covid restrictions, after the rise in infections in China undermined hopes for a rapid improvement in the world's second largest economy.


    The performance of luxury goods companies with exposure to China, such as LVMH and Richemont, overshadowed the European index in early trading.

    Energy shares fell 0.6 percent and mining companies 0.3 percent, tracking commodity prices.

    Japanese stocks and "Wall Street"
    As for the Japanese Nikkei index, it closed, on Thursday, in decline, after falling to its lowest level in about three months during the session, tracing the impact of the weak performance of Wall Street, and shares of heavy-weight technology companies led the declines.

    The Nikkei index closed down 0.93 percent, after reaching 25,953.92 points during trading, the lowest level since October 3.The broader Topix index fell 0.72 percent to 1,895.27 points.

    The main indices on Wall Street closed lower last night, and the Nasdaq index reached its lowest level in 2022, as preparing investors to enter 2023 amid mixed economic data, a rise in Corona injuries in China, and geopolitical tensions.

    Heavyweight technology stocks weighed on the Nikkei index, with startup investment group SoftBank Group falling 1.6 percent and recouping some of its losses after falling 2.4 percent to its lowest since October 19.

    Japan Tobacco Co. The index topped with a decline of 5.87 percent, followed by Showa Denko by 4.68 percent and Isetan Mitsukoshi Holdings by 4.37 percent.

    34 stocks on the Nikkei index rose, compared to a decline of 182 stocks.

    All of the 33 sub-indices fell, with the exception of only two, and the oil exploration companies index led the declines.

    The dollar stabilized
    The dollar stabilized after long-term US Treasury yields rose last night, with initial optimism about China easing Corona restrictions and opening the economy, according to Reuters.

    After China removed its quarantine rule for inbound travelers from January 8, countries such as the United States, Japan and India said they would require coronavirus tests for people arriving from China.

    The speed with which China scrapped coronavirus rules has strained its fragile health system and raised concerns about the spread of the virus.

    The Japanese yen rose nearly 0.5 percent to 133.83 yen per dollar.

    The pound rose 0.19 percent to $1,204, but it was not far from its three-week low of $1,1993 last week.

    And the euro rose 0.15 percent at 1.0628 dollars.

    Uncertainty about the global economic outlook, as well as growing concerns about a recession in the United States, drove down the two-year US Treasury yields, which usually move according to interest rate expectations, last night. It amounted to 4,3512 percent.

    Meanwhile, the yield on the benchmark US Treasury bond for ten years reached 3.8656 percent, after rising to the highest level in more than a month at 3.892 percent last night.

    The dollar index, which measures the performance of the US currency against a basket of currencies, settled at 104.28.

    The Australian dollar rose 0.16 percent to $0.6751, while the New Zealand dollar advanced 0.33 percent to $0.6331.

    The offshore Chinese yuan rose to slightly 6.9932 per dollar.

    Bitcoin is rising
    In the cryptocurrency market, Bitcoin rose 0.13 percent to $16,561, while Ether rose 0.26 percent to $1,192.6, although both are on track to drop by more than 60 percent this year.

    For its part, oil
    prices fell, Thursday, as the rise in Corona cases in China weakened hopes for a recovery in fuel demand for the second largest oil consumer in the world.

    The scale of the recent outbreak in China and skepticism about official data has prompted some countries to enact new travel rules on Chinese visitors, even as Beijing began to lash out at authorities there about the world's strictest lockdown and testing regime.

    Brent crude futures for February delivery fell 42 cents, or 0.5 percent, to $82.84 a barrel by 01:23 GMT, while US crude fell 50 cents, or 0.6 percent, to $78.46. per barrel.

    Oil markets were also affected by expectations of raising US interest rates again in the United States, as the Federal Reserve tries to limit the rise in prices in the labor market, which suffers from scarcity.

    US crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ending December 23, according to market sources citing figures from the American Petroleum Institute, down from analysts' estimates of a draw of 1.5 million. The US government will release its weekly figures at 10:30 a.m. EST on Thursday.

    Also affecting prices, pipeline operator TC Energy said it was working to restart part of the Keystone pipeline, which authorities had to shut down after the leak this month.

    However, the markets got some support from Russian President Vladimir Putin by banning the export of crude oil and oil products from February 1st for a period of five months to countries that adhere to the Western price ceiling.

    Germany said the embargo had "no practical significance" given Berlin's work since spring to replace Russian oil supplies and ensure supply security.
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