{
Foreign Exchange Rates

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}
Central Banks Face Divergent Paths as Fed Considers Rate Cuts and BoE Holds
The Federal Reserve is expected to implement a 25-basis point rate cut in December, influenced by recent comments from Governor Christopher Waller and market expectations. In contrast, the Bank of England faces persistent inflation challenges, likely maintaining its rate at 4.75% amid a split among its Monetary Policy Committee members. Both central banks' decisions will significantly impact currency and stock markets, with traders advised to monitor economic indicators closely.
IG
British Pound Sterling United States Dollar Bank of England End Federal Reserve USD USA CHN GBR Christopher Wallerstedt Show more
Finance & Economy, Market Report
12:16 16.12.2024
UBS Investment Yields 131 Percent Return Over Five Years
An investment of CHF 100 in UBS shares five years ago would have yielded a current value of CHF 231.54, reflecting a 131.54% increase. On December 16, 2019, UBS shares closed at CHF 12.30, and as of December 13, 2024, the share price rose to CHF 28.48. UBS's market capitalization now stands at CHF 90.78 billion.
finanzen.at
Swiss Franc CHE
Finance & Economy, Market Report
10:04 16.12.2024
China's retail sales decline amid shifting consumer demand and political tensions
China's November retail sales fell short of expectations, influenced by the timing of the singles shopping festival, leading consumers to shift spending towards government-supported areas. This trend mirrors Japan's 1990s spending voucher initiatives, highlighting the need for fiscal policy to address consumer concerns.In South Korea, President Yoon's impeachment moves to the Supreme Court, with a trial set for December 27, potentially reducing the risk of significant labor strikes. Meanwhile, assorted business sentiment polls are anticipated, though skepticism about their accuracy is advised due to the current climate of sensationalism and political polarization.
China’s November retail sales disappointed. Some of this can be blamed on the timing of the singles shopping festival. The pattern of sales showed consumers spending in areas with government support, but in doing so cut back on areas without government support. This demand switching in an overall subdued demand environment has parallels to Japan’s “spending voucher” initiatives in the 1990s. The data keeps up pressure for fiscal policy to tackle consumers’ apprehensions about the future.
End Federal Reserve USD KOR CHN JPN Paul Donovan Im Yoon-ah Show more
Finance & Economy, Market Report
09:43 16.12.2024
China's Retail Sales Decline Amid Government Support and Economic Concerns
China's November retail sales fell short of expectations, influenced by the timing of the singles shopping festival, leading consumers to shift spending towards government-supported areas. This trend mirrors Japan's 1990s spending voucher initiatives, highlighting the need for fiscal policy to address consumer concerns.In South Korea, President Yoon's impeachment moves to the Supreme Court, with a trial set for December 27, potentially reducing the risk of significant labor strikes. Meanwhile, assorted business sentiment polls are anticipated, though skepticism about their accuracy is advised due to the current climate of sensationalism and political polarization.
China’s November retail sales disappointed. Some of this can be blamed on the timing of the singles shopping festival. The pattern of sales showed consumers spending in areas with government support, but in doing so cut back on areas without government support. This demand switching in an overall subdued demand environment has parallels to Japan’s “spending voucher” initiatives in the 1990s. The data keeps up pressure for fiscal policy to tackle consumers’ apprehensions about the future.
End Federal Reserve USD KOR CHN JPN Im Yoon-ah Paul Donovan Show more
Finance & Economy, Market Report
09:43 16.12.2024
EUR GBP and EUR USD Rise as GBP USD Faces Downward Pressure
EUR/GBP and EUR/USD are experiencing rallies, while GBP/USD is under pressure ahead of the Bank of England's rate decision. EUR/USD has stabilized around $1.0454, targeting the $1.055 area, while GBP/USD faces resistance near $1.2715-$1.275 and is likely to test the $1.2617 low.
IG
British Pound Sterling United States Dollar Euro
Finance & Economy, Market Report
09:21 16.12.2024
Switzerland Withdraws 5 Percent Dividend Tax Rate for Indian Income
Switzerland has withdrawn the 5% dividend tax rate for income earned from India, increasing the tax to 10%. This change affects around 90 Swiss-based foreign portfolio investors, including UBS and Credit Suisse, following a ruling by the Indian Supreme Court on the Most Favoured Nation clause in the double tax avoidance agreement. Experts warn that this move will negatively impact foreign direct investment and portfolio investments from Switzerland.
Moneycontrol
United States Dollar Credit Suisse Real Estate Fund Siat IND CHE Punit Shah
Finance & Economy, Market Report
07:57 16.12.2024
Asian shares decline as China reports weak economic data and bitcoin rises
Asian shares declined following disappointing economic data from China, impacting market sentiment. Meanwhile, bitcoin reached new highs, showcasing a contrasting trend in the cryptocurrency market. Investors are closely monitoring these developments as they navigate the current financial landscape.
News-Press NOW
Nikkei 225 JPN
Finance & Economy, Market Report
07:15 16.12.2024
RBA Dovish Shift Drives AUD USD Lower Amid Market Volatility
AUD/USD ended last week at 0.6362, down 0.42%, near one-year lows, influenced by the RBA's dovish pivot and strong domestic jobs data. The pair's decline accelerated after the RBA indicated confidence in declining inflation, raising the likelihood of a February interest rate cut to 65%. As the US dollar strengthened due to positive CPI and PPI readings, AUD/USD's volatility continued, with a critical support zone at 0.6370-0.6335. Holding above this level could lead to a bounce towards 0.6450-0.6470, while a drop below may test lower levels.
IG
United States Dollar Australian Dollar Westpac Banking Corporation AUS USA Show more
Finance & Economy, Market Report
06:13 16.12.2024
private banks in hong kong expand hiring amid influx of chinese wealth
Wealth managers in Hong Kong are ramping up hiring to accommodate a surge in mainland Chinese clients seeking offshore investments and residency options. With private wealth net inflows nearly tripling to HK$341 billion in 2023, banks like UBS and Julius Baer are expanding their teams and services to cater to this growing demand. Amid geopolitical concerns and economic challenges in China, affluent individuals are increasingly looking to diversify their assets and secure better opportunities abroad.
South China Morning Post
United States Dollar Hong Kong Dollar Chinese Yuan Julius Bär Gruppe AG Bank of Ningbo Co., Ltd. Standard Chartered PLC Citigroup Inc. UBS Group AG Oversea-Chinese Banking Corp Ltd Lion-Bank of SingaporeAsianInc A AUD H CHN USA HKG SGP Rickie Chan Patrick Yip Jamee Wong David Shick Andy Sieg Show more
Finance & Economy, Market Report
04:44 16.12.2024
Euro and Pound Decline as Euro Pound Recovers from Low
EUR/USD and GBP/USD are experiencing declines as the US dollar strengthens, while EUR/GBP is recovering from a multi-year low. EUR/USD is on track for its sixth consecutive day of losses, approaching early December lows, while GBP/USD faces pressure after being rejected by a resistance line.
IG
British Pound Sterling United States Dollar Euro
Finance & Economy, Market Report
23:03 15.12.2024
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