Market Updates

“The FED In An Emergency Move…”

In an emergency move the FED cut interest rates on Tuesday by 50-basis points to a target range from 1 percent to 1.25 percent to mitigate the widening economic fallout of the coronavirus. 

“Market Wrap…”

Global share markets headed for the worst week since the levels reached in the 2008 financial crisis as investors dumped risky assets amid fears that the coronavirus would become pandemic and would set economic growth off track. 

“China’s Central Bank …”

In order to limit the impact from the Coronavirus, on Monday, China’s Central Bank lowered borrowing costs for the medium-term loans paving the way for a reduction to the lending benchmark rate on Thursday.  In fact on Thursday China cut the benchmark lending rate…

“OPEC And The Demand For Oil…”

On Wednesday OPEC cut its forecast for global growth in oil demand this year amid the coronavirus outbreak and said its output fell sharply in January as producers implemented a new supply-limiting pact.  Furthermore, in a report, OPEC said the demand for 2020…

“China’s Stimulus Measures…”

As the coronavirus continued to hit the news, China’s central bank unexpectedly lowered the interest rates on reverse repurchase agreements by 10 basis points on Monday, as authorities have stepped up measures…

“Britain Quits EU …”

Britain is set to formally leave the European Union on Friday, followed by a “business as usual” transition that ends next December.  The EU and Britain will start trade talks in the coming days. 

“World Economic Forum In Davos, Switzerland…”

The annual meeting of the World Economic Forum kicked off on Tuesday till Friday in Davos, with global political and business leaders attending to discuss big issues facing the global economy and business sector amongst which are environmental issues.

“China And US Sign “Phase 1” Deal …”

An initial trade deal was signed by China and the US on Wednesday.  In a letter from President Xi Jinping read by China’s Vice Premier Liu He, the Chinese leader praised the deal as a sign that the two countries could resolve their differences with dialogue.

“UK Lawmakers Approved Legislation….”

On Tuesday lawmakers approved legislation that will allow Britain to leave the European Union on 31 January with an exit deal.  They voted 330 to 231 in favour of the European Union (Withdrawal Agreement) Bill, that implements an exit deal agreed with the EU last year. 

“Boris Johnson Wins UK Election …”

Prime Minister Boris Johnson who fought the election under the slogan “Get Brexit Done” promising to end the deadlock and spend more on health, education and the police has won.  He said that his election victory provided an overwhelming mandate to take Britain out of the European Union on 31 January. 

“Britain Goes To the Polls …”

Voters in Britain go to the polls on Thursday in an election. The results of the  election will be either Brexit under Prime Minister Boris Johnson or towards another referendum under Jeremy Corbyn  that could ultimately reverse the decision to leave the European Union. 

“NATO Leaders In London …”

NATO leaders gathered at a gold resort in London on Wednesday for a summit with the aim to tackle disagreements over spending, future threats including China and Turkey’s role in the alliance.  The 29-member military alliance marks the 70th anniversary of its Cold War-era founding.

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