Author: Faheem Rafique

The New Zealand dollar dips amid lowered rate hike expectations, while the Australian dollar faces mixed signals. Story Snapshots: New Zealand’s dollar decreases after a decline in inflation expectations. Australian dollar fluctuates due to contrasting economic data. Markets scale back on aggressive Reserve Bank of New Zealand (RBNZ) rate hike bets. What caused the New Zealand dollar to slip, and how is the Australian dollar faring amidst local economic data? The New Zealand dollar slipped as reduced inflation expectations lowered the likelihood of a rate hike, while the Australian dollar struggled to find direction amidst mixed economic indicators. In recent…

Turkiye’s job market shows promise as unemployment ticks down, inching closer to a ten-year low. Story Snapshots: Turkiye’s unemployment rate decreased to 8.8% in December. Labor force participation increased month-on-month. A seasonally adjusted measure of labor under-utilization saw a rise. October’s unemployment rate hit a decade-low at 8.5%. What recent trends have been observed in Turkiye’s unemployment rate and labor force participation? In December, Turkiye’s unemployment rate fell slightly to 8.8%, with a noticeable increase in labor force participation, while a seasonally adjusted measure of labor under-utilization rose. Istanbul’s latest economic figures bring attention to the state of Turkiye’s labor…

Bitcoin’s value surges past $50,000, buoyed by optimistic US trading prospects and a recovering industry. Story Snapshots: Bitcoin exceeds $50,000 for the first time since 2021. The rise is driven by optimism over potential US exchange-traded funds (ETFs) for cryptocurrencies. Bitcoin has rallied roughly 25% since late January. The cryptocurrency’s ascent reflects a broader recovery from recent industry turmoil. How has the prospective US approval of crypto ETFs influenced Bitcoin’s recent market performance? The anticipated US approval for broader trading in Bitcoin, particularly through ETFs, has sparked a surge in the cryptocurrency’s value, driving it above $50,000 for the first…

Japanese rubber futures gain traction, influenced by local equities and currency swings amid global economic anticipation. Story Snapshots: OSE rubber contract for July delivery rose by 0.18%. The rise correlates with the Nikkei’s peak since 1990 and the yen’s depreciation. Global markets await key U.S. inflation data, influencing cautious trading. Chinese loan extensions signal efforts to rejuvenate the economy, affecting commodity markets. How are Japanese rubber futures responding to market dynamics, including equity performances and currency fluctuations? The Japanese rubber futures have seen an uptick, rising by 0.18% in response to the Nikkei’s robust performance and the yen’s weakening, even…

Uncertainty grips the Pakistan Stock Exchange as IMF skepticism on government plans sends KSE-100 tumbling. Story Snapshots: The KSE-100 index plunged below 60,000 amidst concerns over the circular debt plan. IMF’s disapproval of the current strategy casts doubt on Pakistan’s energy sector reform. Index-heavy energy stocks took a considerable hit during early trading. What is causing the recent downturn at the Pakistan Stock Exchange, and how is the IMF involved? The downturn at Pakistan Stock Exchange is attributed to the IMF’s lack of support for the Pakistani government’s circular debt plan, which has raised questions about the reform of the…

In the currency trade tussle, the Pakistani rupee edges up against the US dollar in the latest market move. Story Snapshots: The Pakistani rupee appreciated marginally against the US dollar in early trading. The rupee strengthened by Re0.08 in the inter-bank market. IMF criticized the government’s tariff and circular debt plans as ineffective for energy sector issues. Oil prices remained stable, keeping currency parity in check amid global uncertainties. What recent movement has the Pakistani rupee made against the US dollar, and what are the implications for the economy? The Pakistani rupee has registered a marginal increase against the US…

Morgan Stanley Capital International bolsters Pakistan’s market presence with 22 new additions to its indices. Story Snapshots: MSCI announced the addition of 22 Pakistani companies to its indices. Three companies were added to the Frontier Market Index, 19 to the Small Cap Indexes. The changes are set to occur at the close of February 29, 2024. Pakistan’s weight in the MSCI Index is expected to be around 3%. What recent updates has MSCI made to its Frontier Market Index and Small Cap Indexes concerning Pakistani companies? MSCI has added 22 Pakistani companies to its Frontier Market Index and Small Cap…

Indian farmers press on with protests, demanding fulfilled promises on crop prices as elections loom. Story Snapshots: Indian farmers continue their march to New Delhi after failed talks. The protests align with national elections, with farmers being a key voting bloc. Only a section of farmers from northern states is participating in the latest march. Farmers demand legislation for higher crop price guarantees. Police have enforced restrictions to prevent the protest from reaching the capital. What demands are Indian farmers making, and what is their plan following unfruitful discussions with the government? Indian farmers are demanding that the government honor…

Gold markets hover in anticipation as a key U.S. inflation report looms, potentially shaping Federal Reserve policy. Story Snapshots: Gold prices remained steady ahead of the U.S. inflation report. Spot gold was flat after dropping to a two-week low. U.S. gold futures showed minimal change. Markets anticipate the January U.S. consumer price index data. A softer CPI could lead to a rally in gold prices. What is the current state of gold prices, and what key economic data could affect its trajectory? Gold prices have shown little change as investors await a U.S. inflation report that could influence the Federal…

As investors hold their breath for US inflation data, European markets see cautious gains amidst a quiet day in Asia. Story Snapshots: European stock markets experienced modest gains despite Asia’s holiday slowdown. US inflation data, awaited on Tuesday, could influence Federal Reserve rate decisions. The S&P 500’s recent record high adds to market optimism for inflation control. This week’s economic releases include crucial global oil supply and demand forecasts. What are investors in global markets focused on this week, and how has recent news affected stock market performance? Investors are keenly anticipating US inflation data and economic releases that may…