Industrial output in South Korea dropped a seasonally adjusted 6.0 percent on month in April, Statistics Korea said on Friday.
That missed expectations for a decline of 3.2 percent following the 4.6 percent increase in March.
On a yearly basis, industrial production sank 4.5 percent - again missing
The forex markets turned mixed today, together with major Asian indices. Dollar and Yen are trying to recover but there isn’t any conviction in buying. Both remain the worst performing ones for the week so far. News regarding lockdown exits and coronavirus vaccines were generally welcomed. But inves
Despite data showing consumer confidence in the country hitting a historic low, the Switzerland stock market ended on a firm note on Tuesday, as several countries across Europe relaxed shutdown restrictions and reopened some businesses.
The benchmark SMI ended up 121.90 points, or 1.3%, at 9,512.17,
The European Central Bank's (ECB) Governing Council will discuss the German court ruling on the ECB bond purchases at the non-policy meeting on Tuesday at 1600 GMT, Reuters reported.
Assessing this development, "today’s ruling should increase uncertainty regarding the future to such an extent as to
Jobless claims slated to decline for the third week in a row.
Five week total would be more than 26.16 million, 15.9% of the labor force.
Dollar has plateaued awaiting viral and economic developments.
It should be hard to call more than four million unemployment claims in one week progress, but if
WTI trades in the red and risks falling under $20.
Saudi Arabia has cut its selling price for Asian customers.
API inventory report released Tuesday showed extent of demand destruction due to virus outbreak.
West Texas Intermediate (WTI) oil is operating on slippery grounds at press time, having f
EUR/USD regains the 1.0800 mark and above on Tuesday.
Flash Manufacturing PMIs in core Euroland came in mixed.
Dollar stays weak post-Fed extra easing measures.
The single currency is prolonging the upbeat mood on Tuesday and is helping EUR/USD to break above the key 1.0800 barrier to print fresh 3
The yen has outperformed amid nervous global markets, though concurrent dollar strength has seen USD-JPY lift back above 107.00 from a 106.76 low. The commodity and most developing world currencies remained under pressure. AUD-JPY dropped to a new 11-year low, and AUD-USD posted a fresh 17-year low.
The Federal Reserve slashed interest rates to 0% and announced QE worth $700 billion.
The deep cut, coming on Sunday ahead of the market open, reveals the financial system's vulnerability.
The safe-haven dollar has dropped but may come into demand.
The Federal Reserve was unable to wait until its s
US central bank cuts fed funds target range 1% to 0% to 0.25%.
Begins $700 billion quantitative easing program.
Fed to buy Treasuries and mortgage backed securities.
Dow futures down +1000 points in pre-market.
Powell does not see negative rates as appropriate for the US.
In a bid to prevent financ
The Cboe Crude Oil ETF Volatility Index jumped to a record high of 115.9 on Monday as prices fell sharply on prospects of an all-out price war between Saudi Arabia and Russia.
The index measures the market's expectation of 30-day volatility of crude oil prices by applying the VIX methodology to the
EUR/USD failed to capitalize on Friday's attempted intraday bounce.
Friday's softer Eurozone GDP growth figures failed to impress bulls.
A subdued USD price action also did little to ease the bearish pressure.
The EUR/USD pair attempted a modest intraday recovery on the last trading day of the week
Fed repeats 'current stance of monetary policy is appropriate'
As expected, the Fed did not change its Fed funds target rate (still 1.50-1.75%) sticking to its message that 'the current stance of monetary policy is appropriate'. The biggest changes to the statement were that it now says that private
With January now in full swing, we take a look at the news stories that have been dominating the cryptocurrency and forex spheres in our best of the week segment.
Canada puts most crypto exchanges under securities laws
As Finance Magnates reported, the Canadian Securities Administrators
Photo: Finance Magnates
The US authorities have indicted the promoters behind the Blockchain Terminal (BCT) initial coin offering (ICO). Edith Pardo, 68, and Boaz Manor, 46, both from Canada, are each charged with one count of conspiring to commit wire fraud, three counts of wire fraud, and one co