Most of the world stock markets were higher last Monday due to the steady Yuan and the expected bailout of Greece.
Tags: Euro
What France’s Left-Wing Coalition’s Surprise Election Win Could Mean for Markets
France’s snap general election revealed an unexpectedly strong second round result from the New Popular Front, a coalition of left-wing parties.
US Dollar Slips to 5-Month Low Against the Euro Amid Fed Rate Cut Expectations
The US dollar has slipped to a five-month low against the euro and several other currencies, The US dollar has slipped to a five-month low against the euro and several other currencies, driven by expectations that the Federal Reserve might soon implement interest rate cuts.
South Africa's inflation up at 4.8% in November
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.
Dollar rally is back on support of interest-swap rates
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.
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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.
