ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Friday, May 27, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
US Stocks Market (Photo Credit: Business Recorder)

US Stocks Market (Photo Credit: Business Recorder)

Stocks, currencies firm up ahead of U.S. Fed outcome

byAgency Report
June 19, 2019
2 min read

Emerging market stocks rose on Wednesday while developing world currencies broadly firmed against the dollar as investors counted on the U.S. Federal Reserve’s outlook later today to match their expectations of lowering U.S. borrowing costs.

Following European Central Bank (ECB) President Mario Draghi’s dovish comments on Tuesday, which dented the euro and boosted emerging market carry trades’ allure, developing world investors are now keen to see how dovish the Fed will be.

Markets have largely priced in a U.S. rate cut in July.

Sentiments were also aided by U.S. President Donald Trump on Tuesday, saying he would meet Chinese President Xi Jinping at the G20 summit later this month.

There is broad scepticism, however, among investors as to whether the two world leaders can plaster over the deep fissures in their countries’ trade ties.

“The Fed’s really going to have to stress and really define the words ‘patience’ and ‘caution’ as markets are very on edge at the moment and they will take anything that comes out of Fed officials’ mouths as gospel,’’ said Monex Europe FX Analyst Simon Harvey.

“They have to be very clear and sing from the same hymn sheet or all it’s going to do is increase speculation and market volatility, making their job even harder.’’

MSCI’s developing world stocks index rose 1.4 per cent, hitting a more than one-month peak.

Stocks in China gained one per cent, while Chinese blue-chips tacked on 1.3 per cent on optimism of easing U.S.-China tensions and local stimulus.

Hong Kong-traded stocks gained 2.6 per cent.

Trade-sensitive Taiwanese equities added 2 per cent, while their South Korean peers rose 1.2 per cent.

MSCI’s emerging market currencies index gained 0.3 per cent.

China’s yuan gained on U.S.-China trade optimism.

Russia’s rouble firmed, while Moscow-traded stocks advanced 0.3 per cent, aided by a 0.5 per cent rise in the price of oil supporting energy stocks.

South Africa’s rand strengthened 0.3 per cent while equities rose 0.5 per cent.

The rand held around 2-1/2-week highs it hit against the euro on Tuesday, boosted by demand for carry trades, which use the euro as the funding currency.

“While there are so many risks at play in South Africa, people are still happy to take that carry, regardless,’’ said Monex Europe’s Harvey.

A report said the U.S. is considering sanctions that could target Turkish defence firms, cutting them off from the U.S. financial system over Ankara’s purchase of a Russian defence system, weakening the lira 0.4 per cent.

Tatha Ghose, FX and EM Analyst at Commerzbank, said: “renewed lira weakness brought back memories of last year’s crisis while the uncertainty surrounding the Istanbul re-election of June 23 and potential sanctions because of Turkey’s S-400 missile purchases from Russia are all weighing on business sentiment.’’

(Reuters/NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

WATCH: Governor Yahaya Bello's Roadmap to Hope 2023

CITIZEN-FM AD


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: Why women cheat: what every Nigerian man should know







PT Mag Campaign AD

Previous Post

Why EFCC interrogated our top officials – NDDC

Next Post

South Korea gives largest food, aid donation to North Korea since 2008 — Official

Agency Report

Agency Report

More News

Linda Anukwuem (on the right), during her interview with PREMIUM TIMES

Why I have mixed feelings on diaspora voting – Publisher

May 24, 2022
Cuban flag flying

U.S. eases travel restrictions on Cuba

May 17, 2022
McDonald's ad. [PHOTO CREDIT: McDonald's]

McDonald’s, Renault exit Russian market

May 16, 2022
President Volodymir Zelensky of Ukraine

Ukraine slams Germany for banning Ukrainian flags at WWII events

May 9, 2022
Russian President Vladmir Putin. [CREDIT: Twitter handle of the Russian government]

Russia cuts gas deliveries to Bulgaria, Poland

April 27, 2022
US Secretary of State Mike Pompeo

Iranian attempts to kill Pompeo, U.S. officials are ‘real’ – Blinken

April 27, 2022
Next Post
North Korea President, Kim Jong-Un [Photo credit: News.com.au]

South Korea gives largest food, aid donation to North Korea since 2008 — Official

NIGERIA: Nigerian police force

Mob descend on rail line vandals, robbery gang in Enugu – Police

Leave Comment

Search

AUN-PT Ad





Transport-Technology


Stanbic Ad


Access Bank Ad





Glo Ad


Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,849,715 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • Dubawa
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.