Connect with us

money markets

Luna founder’s wife under emergency protection after crypto market death spiral plunges coin to $0 – Fortune

Luna coin price plunges to $0, Terra UST founder Do Kwon’s wife under emergency protection | Fortune

You need to enable JavaScript to view this site.

Continue Reading

money markets

Market Watcher: Rand gains ground – Moneyweb

Continue Reading

money markets

Global shares trade lower as inflation worries cloud outlook – The Zimbabwe Mail

A currency trader talks on the phone at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Feb. 24, 2022. Asian stock markets followed Wall Street lower Thursday as anxiety about a possible Russian invasion of Ukraine rose. (AP Photo/Ahn Young-joon)


TOKYO (AP) — Global shares declined Tuesday as worries over inflation tempered optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports.

European shares fell in early trading, with France’s CAC 40 down 1.3% at 6,275.73. Germany’s DAX dipped nearly 1.0% to 14,038.93, while Britain’s FTSE 100 shed 0.7% to 7,460.16. The future for the Dow industrials was 0.8% lower while the S&P 500 future slipped 1.3%.

On Monday, the S&P 500 jumped 1.9%, the Dow Jones Industrial Average rose 2% and the Nasdaq climbed 1.6%. The Russell 2000 gained 1.1%.

Biden, who announced a new economic and trade initiative with the region while on a visit to Japan, confirmed to reporters that he planned to discuss the issue of punitive tariffs imposed on China during former President Donald Trump’s administration with Treasury Secretary Janet Yellen once he returns to Washington.

“I’m talking with the secretary when I get home. We are considering it,” Biden said.

The comments raised optimism over the potential for an easing of tensions between the world’s two biggest economies, but not all were convinced.

“Talks of reducing tariffs on China’s exports have surfaced before and the lack of any concrete follow-through remains an element of disappointment for markets,” said Yeap Jun Rong, market strategist at IG in Singapore.

Biden joined leaders of Japan, Australia and India in Tokyo for a summit of the “Quad,” or the Quadrilateral Security Dialogue, where Biden made the case that the world has a shared responsibility to do something to assist Ukrainian resistance against Russia’s aggression. The summit came on the final day of Biden’s first trip to Asia as president.


Investors are keeping an eye on the impact of the war in Ukraine on commodity prices and the possible blow to global economic growth from pandemic lockdowns in China.

Japan’s benchmark Nikkei 225 lost 0.9% to 26,748.14. Australia’s S&P/ASX 200 slipped 0.3% to 7,128.80 and South Korea’s Kospi sank 1.6% to 2,605.87. Hong Kong’s Hang Seng shed 1.8% to 20,112.10, while the Shanghai Composite declined 2.4% to 3,070.93.

Investors fear the U.S. central bank could go too far in raising rates or move too quickly. That could slow business activity and potentially bring on a recession. On Wednesday, investors will get a more detailed glimpse into the Fed’s decision-making process with the release of minutes from the latest policy setting meeting.

Technology shares that gained hugely during the pandemic are now taking the brunt of selling thanks to their hefty prices. Casting a shadow, social media and camera maker Snap Inc. surprised investors with a warning late Monday.

“Snap’s stock price went snap, crackle, pop, as it fell by over 30% in extended trading after the CEO, in a note to employees, said it would miss quarterly guidance on growth and revenues,” Jeffrey Halley of Oanda said in a commentary.

In premarket trading Snap’s shares were down 28% at $22.47 early Tuesday.

Wall Street will get a few economic updates this week from the Commerce Department. On Thursday it will release a report on first-quarter gross domestic product and on Friday it will release data on personal income and spending for April.

In energy trading, U.S. benchmark crude lost 75 cents to $109.54 a barrel in electronic trading on the New York Mercantile Exchange. It added 1 cent to $110.29 per barrel on Monday. Brent crude, the international standard for pricing, fell 83 cents to $112.59 a barrel.

In currency trading, the U.S. dollar edged down to 127.37 Japanese yen from 127.78 yen. The euro cost $1.0717, up from $1.0688.


Continue Reading

money markets

RBZ mops up ZW$31,6 billion in four months – New Zimbabwe.com

Spread This News

By Alois Vinga


THE Reserve Bank of Zimbabwe (RBZ) managed to mop up excess liquidity amounting to ZW$31,6 billion in the last four months of 2021 as the monetary authority upped the gear towards preserving the local currency’s stability.

Excess liquidity/cash position is when the balance exceeds the actual working capital cash needed, thereby becoming excess cash, or cash that is not necessary to the firm’s financial operations unless it is reinvested for other purposes.

The monetary authorities believe that if such balances are not mopped, several companies may be tempted to invade the parallel market and destabilise exchange rates for speculative purposes.

The RBZ has been implementing the excess cash mop up exercise through the issuance of Open Market Operations (OMO) securities through Non-Negotiable-Certificates of Deposits and Savings, which offers banks the opportunity to deposit excess cash with the central bank.

“During the quarter, OMO securities issued by the RBZ rose from ZW$41, 19 billion in the third quarter to ZW$72, 82 billion in December 2021, thus mopping up excess liquidity amounting to ZW$31,63 billion from the market during the quarter under review,” latest RBZ statistics said.

The period also saw reserve money stock stood at ZW$25,5 billion in the fourth quarter of 2021, compared to the target of ZW$28,9 billion, which translated to a quarterly growth of -1.14%, against a targeted growth of 10%.

“The reserve money quarter- on quarter growth target was reduced from 20% to 10%, in the fourth quarter of 2021.The quarterly growth in reserve money was contained within target during the fourth quarter of 2021,” said RBZ.

The lower reserve money stock, in part, reflected liquidity mopping by the Central Bank through open market operations.

“Mopping was largely through issuance of securities (non-negotiable certificates of deposits and savings bonds), supported by the liquidity withdrawing impact of net Government revenue collections and net foreign exchange selling by the Reserve Bank,” the central bank said.

Economic analyst, Prosper Chitambara, said the sustained trend is a step in the right direction, but hinted that deeper reforms are still required if long term benefits are to be achieved.

“The quantum of mopped up excess cash reflects the Monetary Policy stance which the RBZ is pursuing. This will obviously reign in the parallel market exchange rate volatility.

“However, more still needs to be done as far as maintaining money supply growth at sustainable levels if long term economic stability is to be achieved,” he said.

Continue Reading

Trending

www.luzroyale.ky/

www.1africafocus.com

www.zimfocus.co.zw

www.classifieds.com/

One Zimbabwe Classifieds | ZimMarket

www.classifiedszim.com

www.1zimbabweclassifieds.co.zw

www.1southafricaclassifieds.com

www.1africaclassifieds.com

www.1usaclassifieds.com

www.computertraining.co.zw/

www.1itonlinetraining.com/

www.bbs-bitsbytesandstem.com/

Zimbabwe Market Classifieds | ZimMarket

1 Zimbabwe Market Classifieds | ZimMarket

www.1zimlegends.com

Linking Buyers To Sellers Is Our Business Tradition