Wall Street hits the record high in 2016. The market reacted positively after the Fed chairwoman's speech in the Economic Club Of New York on Tuesday.
Nordic Business Council Philippines (NBCP) issued its 2016 annual report on Philippine and challenges in the trade and investment sectors. Meanwhile the Central Bank expected a strong growth in the economy.
The British central bank has voted on Thursday to maintain a low interest rate. The uncertainties regarding and weak global trade outlook has made the committee to decide to maintain low interest rate.
The US dollar recorded a multi-year bull run and has still enough steam to gain 10 percent further this year. All eyes are on the two-day policy meeting of US Federal Reserve beginning from Tuesday as it will set the tone for US currency.
The Bank of Japan is reportedly anticipated to reduce its price and economic outlooks for the next fiscal years at a quarterly appraisal that is scheduled in April. The bank is trimming its growth outlook citing the failure of its previous stimulus pack.
Koji Ishida, Bank of Japan's policy board members said the negative interest rate will do very little to boost investment. Continuing tumult in the market may hurt Japanese economy.
Contrary to earlier bullish predictions for 2016, several Wall Street strategists have started lowering their forecasts on S&P 500 stocks. The Chinese economy slowdown, volatile oil prices and interest rates are the major reasons for drop in forecast. The gap between highest and lowest forecast has been widening.
There is a possibility of an interest rate hike next month, according to two senior officials of the Federal Reserve. Speaking before the House Financial Services Committee during a hearing on financial regulation, Fed Chairperson Janet Yellen said the economy had been growing at a pretty good clip, an indication it might be time to raise short-term interest rates.
The US stocks closed higher on Tuesday as investors begin to heavily buy shares as commodities producers slowly beginning to balance their output helping its price to rebound.
Indicating the prolonged sluggishness in the economy, China's factory activity dropped further again in October. However, the marginal recovery in export orders has slowed down the drop in the manufacturing production. The PMI edged up in the previous month.
Gold prices are at their lowest in three weeks after the Federal Open Market Committee announced that they won't push through with the interest rates hike.
The world's second largest economy witnessed its lowest growth rate in the last two decades. China's gross domestic product (GDP) growth rate dipped below seven percent during the third quarter for the first time after the financial crisis. A record of 6.9 percent, below the Chinese government's target of seven percent and slightly better than the forecasted 6.8 percent. This is translating into more pressure on the Chinese government to lower interest rates and some measures to strengthen the growth rate.
The Reserve Bank of India (RBI) Governor Raghuram Rajan's latest measure to slash benchmark repurchase rate is finally giving results as commercial banks started cutting down interest rates.
American employers increased jobs at a quick pace last September, a signal that the labor market is close to full strength. This trend could possibly persuade the Federal Reserve to raise interest rates at one of its two remaining meetings this year, according to the Business Insider.
Bill Gross, a bond manager, forecasts further fall of 10 percent in many asset classes, while advising investors that cash is the best bet until a clear picture about the next direction of the market emerges.