Falling in line with the economists' forecast, the inflation rate in South Africa rose to 4.8 percent in November, registering its highest since July 2015. Consumer prices marginally rose 0.1 percent during the month. South Africa's currency Rand fell against US dollar, euro and pound. The currency depreciation is likely to be a major risk to the inflation outlook.
The US currency is surging again, but this time with support from the interest-rate market. The US dollar rally registered its strongest gain during the past six months against Euro as two-year dollar interest rate swaps shot over those in the shared-currency area.
Ater an unsuccessful negotiation with pilot unions, Air France announced it would cut 2900 jobs. Air France-KLM is about to cut 2900 jobs after pilot unions disagreed to compromise with the company's settlement. The board had a meeting on Thursday and ordered the management to minimize some of its operations on October 5, BBC reported.
The Asian market open lower on Tuesday as investors start to weigh in again the possibilities of a weak economy sign in China. The market fell to its three-week low and is raising concern in the U.S too causing a substantial loss in the Wall Street.
Most of the world stock markets were higher last Monday due to the steady Yuan and the expected bailout of Greece.
The Swedish crown sank 1 percent on Thursday after Sweden's central bank surprised markets by cutting interest rates deeper into negative territory and saying it would pump more money into the economy, citing risks from Greece.
Persistent concerns of Greece leaving the euro weighed on European stocks on Thursday, with the lack of progress in negotiations on a cash-for-reform deal for Athens pushing investors towards safe-haven German Bunds.
German debt yields added to their biggest jump in almost three years and the euro held on to its gains on Wednesday, as investors waited to hear the ECB's view of a turbulent run for markets and its hopes for a Greek aid deal.
European shares fell in thin trade on Monday while the dollar powered ahead after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year.
The euro slid to a two-week low and a rally in European shares stalled on Wednesday after a Greek official said the country may not make an upcoming repayment to the International Monetary Fund.
The euro hit a three-month high against the dollar on Thursday, lifted by another lurch higher in euro zone government bond yields that again kept global stock markets in check.
Low-risk bonds sold off again on Tuesday driving down stocks and helping push the euro higher against the dollar. Ten-year U.S. Treasury yields, the benchmark for global borrowing costs, hit their highest since early December, while German 10-year yields added 8 basis points to 0.67 percent.
European shares rose on Monday, led higher by Germany after upbeat factory activity, while the dollar steadied following signs the U.S. economy may be emerging from a recent soft patch.
The euro rose for a third day against the dollar on Thursday, pushing above $1.12 for the first time in two months on growing concern over the U.S. economy's prospects.
The euro hovered near a three-week peak on Tuesday, boosted by renewed hopes that cash-strapped Greece could secure extra funding and as the dollar remained weak ahead of a U.S. Federal Reserve meeting that starts later in the day.
Subscribe to VCpost newsletter
- Founder of Globetrotters, Niranjan Shah, on His Background, Success Story, and Philosophy of Getting Ahead
- 3 Scenarios Lear Capital Founder Kevin DeMeritt Says Precious Metals Could Protect Against
- Tips To Increase Your Appointment Setting Conversion Rate in 2022 According to Bruntwork
- Amazon FBA, Shipping, Receiving: Kitting and Assembly Solutions Keeps it All Signed, Sealed and Delivered for a Global Marketplace On the Go
- Investor Brian Condenanza On The Future of Fintech Investing
- What You Need to Know About Business Litigation Law
- Amer Deeba on Cybersecurity and His New Company Normalyze
- The Ultimate Guide to an Employee’s Net Pay