Fed Chair Powell’s Testimony and Economic Outlook in Focus
Fed Chair Powell’s upcoming testimony is set to provide valuable insights into the economic state of small businesses in the US. Market watchers are eager to decipher any indications regarding monetary policy, although major market shifts are not expected. Other central bank speakers scheduled for today will contribute to the overall market sentiment.
Swiss National Bank Reports Decrease in Sight Deposits, Possible FX Market Intervention
Swiss National Bank (SNB) reports a decrease in total sight deposits, indicating possible FX market intervention. Decline in deposits suggests strategic currency management to counter inflation pressures. Analysts monitoring SNB’s actions for potential impact on Swiss franc’s global performance.
Shekel’s Value Impacted by Military Operation in Rafah
The recent military operation in Rafah on the Gaza Strip-Egypt border has sparked concerns about the impact on the shekel’s value. As the IDF prepares for the assault, the shekel has already begun to weaken against major currencies. Analysts attribute the shekel’s decline to escalating security tensions, with market uncertainty heightened by the deadlock in negotiations between Israel and Hamas. Despite initial impacts, experts believe the shekel’s depreciation may be limited in the short term, but the conflict’s duration and intensity will play a crucial role in its future performance.
Asian Economic Calendar Quiet on April 15, 2024
Stay informed about the Asian economic calendar and upcoming events to gauge potential market movements. The recent Iranian attack has sparked concerns and may influence market sentiment. Traders are advised to monitor the economic data calendar for potential impact on trading decisions. ForexLive provides a snapshot of key events and consensus expectations for traders to stay updated on important economic indicators. Exercise caution and stay informed about geopolitical tensions and economic events to manage market volatility and make informed trading decisions.
Japan Abandons Negative Interest Rates
Japan’s decision to abandon negative interest rates is expected to have global implications, particularly on the strength of the yen and the country’s exports. Meanwhile, the Federal Reserve’s policy meeting and corporate developments from Unilever and Nvidia are also drawing investor attention. Wall Street bonuses have declined, stock futures are trending lower, and Bitcoin is extending its retreat, prompting investors to closely monitor unfolding events.
Billions Pour Into Nigeria as Tinubu’s Reforms Start to Pay Off
Foreign investor demand for Nigerian assets and remittances from citizens living abroad surged as President Bola Tinubu’s reforms started to pay off. The central bank reported over $1 billion in foreign portfolio investor asset purchases in February, with total receipts for the year reaching at least $2.3 billion. The government’s measures to attract investors and support the naira have led to increased investor interest in short-term sovereign debt and a fourfold rise in overseas remittances. Governor Olayemi Cardoso stated that the measures to boost reserves and create more liquidity in the markets have begun to yield results.
Access Bank Dollar To Naira Exchange Rate Today – March 10, 2024
Curious about the current exchange rate for Access Bank dollar transactions today? Get up-to-date information on Access Bank’s dollar exchange rates and make informed decisions regarding your currency transactions. As of today, March 10, 2024, Access Bank’s dollar exchange rates may vary based on several factors such as market fluctuations and bank policies. It’s essential to check directly with Access Bank or their official platforms for the most accurate and current rates. Stay informed with Okay.ng for timely updates on currency exchange rates and financial news.
Financial Markets Set for Busy Week with Key Central Bank Meetings, Data Releases, and Big Tech Earnings
The upcoming week is set to be a busy one for financial markets, with major events such as key central bank meetings in the UK and US, important data releases including eurozone inflation and US NFP, and the US Treasury…