Currency markets were thrown into chaos as Japan’s currency surged against the dollar after hitting fresh 34-year lows. Traders cited heavy dollar-selling intervention by Japanese banks as the reason behind the dramatic move. This intervention, the first of its kind in 18 months, led to the yen strengthening by as much as 5 yen against
Economy
The recent sharp reversal of the yen from its slide past 160 per dollar has left European and global traders waking up to a nervy currency market. Speculation on Tokyo’s potential involvement in this sudden exchange rate movement has caused uncertainty among market participants. The jump in the yen to 156.55 per dollar, just hours
Tech billionaire turned philanthropist Bill Gates has warned that success in the fight to wipe out polio is not guaranteed, despite significant progress made in recent years. Gates, whose foundation has poured billions into the effort, emphasized the importance of not becoming complacent in tackling the deadly viral disease. Most recently, Saudi Arabia pledged $500
Thailand recently appointed Pichai Chunhavajira, a former energy executive, as the country’s new finance minister. With the task of reviving Southeast Asia’s second-largest economy, Pichai faces a multitude of challenges ahead. This article will delve into the state of the Thai economy, the policies Pichai will oversee, and the expectations surrounding his new role. Thailand’s
Recently, BHP Group had its initial $39 billion offer for Anglo American rejected by the London-listed miner. However, sources familiar with the matter have indicated that BHP is contemplating making an improved proposal in the coming weeks. The deliberations are still ongoing, and no final decision has been made regarding the size and structure of
Russia’s industrial production and investments are currently stagnating, according to a report by the Centre for Macroeconomic Analysis and Short-Term Forecasting. The report highlights a decline in profitability across various industries and a shortage of imported components and raw materials. This situation poses a significant challenge to the overall economic performance of the country. In
In light of recent developments, Russia has hinted at a possible response to the potential seizure of its frozen currency reserves by the United States. Dmitry Medvedev, a senior security official in Russia, raised the possibility of seizing the assets of U.S. citizens and investors in Russia if such an action were to occur. This
China’s industrial profits have shown a smaller increase in the first quarter compared to the initial two months of the year. The latest data from the National Bureau of Statistics revealed a 4.3% rise in profits from a year earlier, which is significantly lower than the 10.2% increase seen in the first two months of
The upcoming Federal Reserve meeting will be closely watched by investors as they look for hints on the central bank’s stance on interest rates. While a rate cut is unlikely, comments from Fed Chair Jerome Powell regarding potential policy easing later in the year will be scrutinized. The Fed previously projected three rate cuts in
In the latest trading session, U.S. stocks closed on a high note, driven by a rally in megacap growth stocks such as Alphabet, Microsoft, Amazon, Nvidia, and Meta Platforms. The surge in these tech giants came on the back of impressive quarterly results, with Alphabet even announcing its first-ever dividend and a massive stock buyback
The U.S. Treasury Department is set to unveil its refunding plans for the upcoming quarter, and there are mixed expectations from investors. The size of most auctions is anticipated to remain steady after consecutive increases in the past quarters. This pause in auction size growth could provide some relief to the market, especially after last
The United States experienced a slowdown in economic growth in the first quarter of the year, falling below the Federal Reserve’s estimates of the economy’s long-run potential for the first time in almost two years. This decrease in growth was accompanied by fast inflation, presenting a challenging situation for the central bank to navigate. The