New Zealand central bank slashes rates by 50 basis points in second straight rate cut
The RBNZ slashed rates from 5.25% to 4.75% on Wednesday, marking its second straight cut to its interest rate since August.
Financial News
China stocks poised to reopen with markets fixated on fiscal stimulus
Traders are closely watching for additional policy measures as Beijing has signaled a sense of urgency in bringing its economy back on track.
Japan’s Nikkei opens up 2% as Asia markets mostly climb ahead of a week of central bank decisions
Economists polled by Reuters expect the BOK and RBNZ to cut rates, while the RBI will hold.
Fed close to pulling off the elusive economic soft landing in 2024 after great September jobs report
If this sounds like a Goldilocks scenario, it’s probably not far from it, even with the lingering inflation concerns.
China’s stimulus rally has already sent stocks up 25%. And there could be more to come
Mainland markets is closed for a week-long holiday commemorating the 75th anniversary of the People’s Republic of China. Trading is set to resume on Oct. 8.Â
U.S. crude oil jumps as Biden comments on possible Israel retaliation against Iran
Supply disruption risks are increasing as fighting in the Middle East intensifies, according to analysts.
The East and Gulf coast ports strike could be a no-win situation for the Biden administration
President Biden is sticking to his position of not forcing striking port union workers back on the job, a political call that adds uncertainty to inflation.
Iran launches missile attack on Israel for killing of Hezbollah leader, general
Israel launched a ground incursion into Lebanon as part of an attack on Hezbollah, the militant group backed by Iran.
Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’
The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.
Japan’s Nikkei falls over 3%, Australia scales fresh all-time high as investors await China data
China’s PMI data, as well as Japan retail sales numbers will be released today.