Australian Dollar Plunges on Negative Sentiment
According to the National Australian Bank (NAB), business confidence—which comes out monthly—stooped from +8 to +4.
Will China’s Economic Transition Benefit the Country?
Small and medium enterprises (SMEs) remain at the center of the narrative as China transitions from an “old” production-driven model to the “new” consumer and service-led economy.
Since the global financial crisis in 2008, China’s debt concern has increased. China (FXI) (CNXT) landed itself in massive debt to revive its economy.
We continue to believe that when evaluating any investment in either the emerging markets or any global allocation of assets, China needs to be considered.
Will the US Dollar Surge Higher after FOMC Meeting?
The US Dollar Index (UUP) continued its ascent against the other major currencies as investors positioned for a rate hike from the Fed and reacted to the increased possibility of tax reforms by the end of this year.
The British pound (FXB) depreciated by 0.60% against the US dollar (UUP) for the week ending December 8.
The euro-dollar (FXE) closed the week ending December 8 at 1.18, depreciating by 1.1% against the US dollar (UUP).
Bank of Japan Maintains Ultra Eased Monetary Policy
Bank of Japan governor Haruhiko Kuroda kept the rates unchanged at 0.1% in the monetary policy statement announced on Friday.
British Pound Falls Lower on Less Hawkish Bank of England Report
The British pound–dollar pair saw a long red candle at the end of Thursday’s trading session, closing considerably lower as the pound sterling fell by 0.58% against the dollar.