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Reserve Bank of India cuts policy repo rate by 40 bps

May 22, 2020 16:10 pm UTC| Commentary Central Banks

The Indian central bank, Reserve Bank of India, delivered another unscheduled rate cut. The RBI lowered its policy repo rate by 40 basis points to a historic low of 4 percent today. According to the central bank, the...

Bank of Thailand cuts policy rate by 25 bps, GDP growth likely to come in much weaker in Q2

May 20, 2020 15:02 pm UTC| Commentary Central Banks

The Bank of Thailand lowered its policy rate by 25 basis points to 0.50 percent, as was expected. The decision was not unanimous, with three of the seven members voting for a hold. The central banks assessment of growth...

Bank Indonesia keeps monetary policy on hold, likely to cut rate in June

May 19, 2020 14:53 pm UTC| Commentary Central Banks

Bank Indonesia kept its monetary policy on hold today. However, it clearly cited that the door for future rate cuts remains open in the midst of low inflation and subdued economic activity. Todays decision was contrary to...

FxWirePro: Quick Run Through On G10 Central Bank’s Negative Rate, Spot/Rates Differential Correlation

May 15, 2020 14:07 pm UTC| Research & Analysis Central Banks Insights & Views

The US Aprilretail saleshas disappointed a day of important releases. The US data (retail sales -16.4%, industrial production -11.2%, Empire Index -48.5%) might fuel global economic concerns on the markets again. Even if...

FxWirePro: A Bird’s Eye-View On RBA QE Program And AUD Risk-Reversals - Hedging & Trading Setup

May 15, 2020 11:14 am UTC| Research & Analysis Central Banks Insights & Views

Markets would be observing the effectiveness of the RBAs QE program and yield target. A fair level for 3yr swap rates would be around 0.40%, but pandemic-related volatility will result in a wide range, say 0.25%-0.50%. The...

FxWirePro: Spotlight On Banxico MPS – Upholds USD/MXN Call Ratio Spreads

May 14, 2020 14:08 pm UTC| Research & Analysis Central Banks Insights & Views

Tonight the Mexican central bank (Banxico) is likely to cut its key interest rate by another 50 bps. Inflation fell to 2.2% in April, below the central banks inflation target. With regard to the economy, which has slid...

Norwegian Macros Provides Breathing Space To Norges - Delta Loop Vanilla Triangle Package For NOK

May 13, 2020 14:47 pm UTC| Research & Analysis Central Banks Insights & Views

Inflation was not much of an issue in Norway anyway over the past few years, so that Norges Bank was able to hike its key rate quite strongly over the past two years until it lowered it back to 0% again as a result of the...

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Economy

However, overall exports dipped 1.4 percent in the first quarter.

South Koreas exports of eight new-industry goods in the first-quarter jumped 17 percent from the previous year to $21 billion despite a drop in overall exports. The goods include aviation products and drones, biohealth...

The rise in inequality is attributed to the shrinking wages of low-income households, and a cut down in temporary positions

The income disparity between the top 20 percent and bottom 20 percent of households widened with many of the countrys low-paying jobs being slashed due to the COVID-19 pandemic. The average monthly income of households...

The Senators urged the US to counter such predatory economic behavior urgently.

Seven US senators have urged Treasury Secretary Steven Mnuchin to prevent Chinese companies from buying strategic US assets that have been devalued by the coronavirus pandemic. The lawmakers said in a letter to Mnuchin...

The steel industry has been hit hard by the pandemic with exports plunging 24.1 percent

South Korea will cushion the steel industrys fallout caused by weak demand by fast-tracking infrastructure projects and spending over 400 billion won on research and development. According to Industry Minister Sung...

G-20 members agreed to "facilitate the resumption of essential cross-border travel"

South Korea has adopted an action plan with other members of the Group of 20 to maintain the global supply chains and refraining from implementing new trade barriers. During a virtual meeting attended by South Korean...

Politics

Ivanka Trump criticized for ‘insensitive’ on comment Indian teenager who carried her father for 1,200 km on a bicycle

President Donald Trumps daughter and senior White House adviser Ivanka Trump praised a 15-year-old Indian girls journey of more than a thousand kilometers while carrying her father at the back of her bicycle to seek...

Donald Trump calls Jeff Sessions ‘slime’ in their weekend Twitter battle

Donald Trump attacked his former attorney general Jeff Sessions on social media expressing his anger at the latters recusal from the Russian probe. However, Sessions fought back, not only defending his decision to recuse...

Joe Biden says Donald Trump’s ‘slowness’ in handling the coronavirus is costing lives and jobs

Former Vice President Joe Biden criticized President Donald Trumps as slow and inadequate. In a recent interview, Biden blames the current administrations inadequate handling of the crisis as the reason why it might take...

Donald Trump says houses of worship ‘essential’ as CDC issues guidelines for their reopening

President Donald Trump wants states to reopen religious institutions for services. On Friday, the POTUS announced that houses of worship are essential and are calling to on governors to allow them to reopen for...

Michigan Attorney General tells President Donald Trump not to revisit the state if he refuses to wear a face mask

In light of the pandemic that continues to claim more and more lives in the United States, many Americans remain keen on continuing the practice of social distancing including the use of face masks. Michigans attorney...

Science

Secret underground rooms found under Western wall in Jerusalem

Discoveries made in Israel usually tend to provide a glimpse back into what may have happened thousands of years ago. A group of archaeologists in Israel discovered secret rooms hidden underneath the western wall in...

NASA: Scientists find mysterious red lines on Jupiter's moon Europa

NASA has set its sights on one of Jupiters moons, Europa, alongside the moon and Mars. The agencys scientists found some unusual red lines on the icy moon, which could suggest that life may be able to exist on the gas...

Scientists discover hidden text on a fragment of Dead Sea scrolls

The Dead Sea Scrolls have shed some light on some of the worlds religions and have given archaeologists a glimpse of the past. Recently, a group of researchers made a surprising discovery on one supposedly blank fragment...

High-energy particles found in Antarctica may be proof of a parallel universe, says scientists

For the most part, the concept of having an alternate universe only exists in the realm of pop culture. However, as scientists have explored this possibility, a group of researchers has said that the high-energy particles...

Technology

The Elder Scrolls 6: Reason why fans shouldn’t expect to get their hands on the game anytime soon

Fans of the franchise have been waiting for The Elder Scrolls 6 for years. While Bethesda already assured that it is in the works, gamers arent likely to get their hands on the title soon. The Elder Scrolls 6 is in the...

‘PUBG Mobile’ is very likely to get a new map in next patch

After the release of the PUBG Mobile v0.18.0 patch notes, Tencents plan of overhauling classic maps became more evident. It now appears that the developers have another major update brewing that could, once again, feature...

GoPro surprises fans with the launch of Zeus Mini flashlight

While avid fans of GoPro are wondering when they might hear about the next action camera from the company, it surprised everyone with the sudden launch of the Zeus Mini clip light. It is the newest product to be added to...

Nintendo Switch: Easy way to find an available console without stepping outside

Most people may not have expected it, but Nintendo Switch became one of the in-demand products as most placed went into community quarantines and lockdowns amid the COVID-19 pandemic. This issue got a little out of hand,...

Poco M2 Pro appears in WiFi, Bluetooth documents but it could just be another Redmi rebrand

Xiaomis sub-brand Poco was silent throughout 2019, but that seems to change this year as a third smartphone could be released under this label. A device suspected could be released as Poco M2 Pro appeared in several device...
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