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Writer's pictureRobert Ver

Shares in the market continue to rise, while the dollar continues to decline.


Tuesday was characterized by growth in global stock markets, and the dollar weakened due to the calmness of investors after First Citizens acquired the assets of the bankrupt SVB bank. In the Asia-Pacific region outside of Japan, the MSCI equity index rose 0.6% by the start of trading in Hong Kong. US S&P 500 e-mini futures also edged up 0.1%. The Australian stock market gained 1% as lithium and commodities stocks surged after Liontown Resources pulled out of a $3.7 billion offer from Albemarle (NYSE:ALB). Earlier in the week, US banking regulators said the overall financial system is in order after a string of bank failures, but they are reviewing their policies to prevent future crashes. The US dollar index, which measures its rate against 6 peers, fell 0.14% to 102.6 during Asian deals due to demand for the safest assets. However, concerns still exist, as Federal Reserve Governor Philip Jefferson said on Monday that stress among small banks could hit small businesses hardest. Another problem that worries the market is the instability in expectations regarding further actions of the US and European central banks. The market is waiting for a potential rate hike of 25 or 50 basis points, but the outlook could change to a 50 basis point rate cut in the second half of the year.

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Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
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