A Breath Of Confidence As Debt Ceiling Negotiations End

2023-05-29 | Commodities , Current Affairs , Forex , Futures , Precious Metals , Securities , Spot Indices

Japan’s Nikkei Hits Highest Since July 1990

Japan’s Nikkei share average rose on Monday to its highest level since July 1990 following the optimism over a US debt ceiling deal and a weaker yen.

Could This Headset Be Apple’s Biggest Rival Yet?

Meta’s unveiling of the Quest 3 is projected to be Apple’s biggest rival in the headset segment. Meta Platforms Inc. is the current market leader in the Extended Reality (XR). How will Apple fare in this bout?

Blair Vernon Appointed As New CFO Of AMP

Australia’s AMP (OTC:AMLTF) has officiated that Blair Vernon will take over from Peter Fredricson as its chief financial officer. As a means to simplify its operational model, the structure of its local wealth management arm will be dissolved.

Today’s News

President Joe Biden and House Speaker Kevin McCarthy were all smiles as they expressed confidence in a new debt-ceiling deal that will pass Congress, averting a historic US default while setting a course for federal spending until after the 2024 election.

Rising Dollar Lifts Optimism

The dollar has proven its economic resilience as it raised market expectations for further rate hikes by the Federal Reserve while news on a finalized debt ceiling has reinstated the confidence in the currency.

Source: REUTERS

The dollar boasted a fresh six-month high of 140.91 yen in early Asia trade and was headed for a monthly gain of more than 3% against the Japanese yen. Experts speculate that the interest rates in the United States would remain at a high for an extended period.

US Equity Futures And Asian Shares Presses On

The appetite for riskier assets has returned to the global markets following the deal between President Joe Biden and House Speaker Kevin McCarthy on the US debt ceiling. 

Source: The Financial Express

Contracts for the S&P 500 rose approximately 0.3% in Asia on Monday while increases were spotted in the Japanese and Australian stocks benchmarks by 1%. In addition, a technology-based company in Hong Kong, NetEase Inc. surged around 7% on strong earnings.

Oil Climbs As Debt Ceiling Talks Conclude

Oil prices have shown activity in the Asian trade on Monday after debt ceiling deal has come to a consensus, averting a default in the world’s largest economy.

Source: REUTERS

Brent crude futures climbed by 39 cents, or 0.5%, to $77.34 a barrel while US West Texas Intermediate crude was at $73.12 a barrel, up by 45 cents, or 0.6%.

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2025-01-13 | Current Affairs

Dollar Surge Pressures Global Currencies Amid Fed Uncertainty

The U.S. dollar climbed sharply on Monday, reaching multi-year highs against other currencies after an unexpectedly strong U.S. jobs report highlighted the resilience of the American economy

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2025-01-10 | Current Affairs

Musk Urges State AGs to Facilitate OpenAI Stake Auction

Musk’s lawyer submitted a letter requesting the states to ensure an open bidding process to safeguard public interest as OpenAI move away from nonprofit control

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2025-01-09 | Current Affairs

Global Stocks Struggle Amid Rising Treasury Yields and Tariff Concerns

TODAY’S NEWS The ongoing selloff in global bonds intensified on Wednesday, weighing on Wall Street stocks and bolstering the dollar as robust U.S. economic data lowered hopes for imminent aggressive interest rate cuts by the Federal Reserve. The 10-year U.S. Treasury yield climbed to a peak of 4.73%, the highest since April 2024, before settling […]