Aug 10 2021 0

Here we have the most important news around the globe that will have significant impact on the forex market in coming days.

quick updates:

  •     Fed officials continue to express hawkish views, saying that the time for tapering is near;
  •     The number of Covid-19 cases in China has reached a 6-month high with millions of people under lockdown, and mass testing being carried out across the country;
  •     The $1 trillion infrastructure bill looks set to go to a vote earlier this week, after final procedural hurdles in the US Senate were resolved, gaining support. widely bipartisan;
  •     BTC continues to rally, surpassing the key 45k level, to multi-month highs;

Red Alert

The latest scientific assessment from the United Nations Intergovernmental Panel on Climate Change for the first time unequivocally confirms the full responsibility of human activity for the temperature rise. A new report from the world's top climate scientists warns that the planet will warm by 1.5°C over the next two decades without drastic moves to eliminate greenhouse gas pollution. . And the authors conclude that the critical 2°C warming threshold will be "passed in the 21st century" without deep emissions cuts "in the coming decades." The 3,949-page review is the work of more than 200 scientists with thousands of studies and an accompanying abstract that was approved by delegates from 195 countries.

Assess the risks

Asian stocks look off to a quiet start as investors weigh the impact of falling commodity prices, talk of stimulus withdrawal and the revival of the Delta variant. Futures markets edged higher in Japan, which reopened after the holiday, as well as in Australia and Hong Kong. The S&P 500 index ended the session little changed, while the Nasdaq 100 index gained. The dollar rose along with Treasury bond (UST) yields. Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank should move to ease its asset purchases after a month or two of strong job growth and begin the downsizing process. faster than in previous stages.

Isolated

China's unwavering commitment to eradicating Covid-19 threatens to isolate the country for years to come, as much of the rest of the world learns to live with the virus. Beijing has punished dozens of officials for failing to contain a recent outbreak that has caused nearly 900 symptomatic infections across the country in less than a month. And with new Delta variant infections causing travel restrictions across China, airline capacity is dropping, falling 32% in a week, the highest since the beginning of the pandemic. Elsewhere, the wave of Delta variants has now engulfed the US, with the highest number of cases and hospitalizations since February. Even so, the EU has decided not to reinstate restrictions on travelers from the United States, and Indonesia is planning to gradually ease restrictions in some cities, including Jakarta, as it puts a roadmap for living with the virus.

The battle for talent

JPMorgan has joined Wall Street's war for talent, extending previously announced pay increases to more employees as industry rivals pay to retain their lowest-level analysts. . Just weeks after the Wall Street bank raised the salaries of JPMorgan's entry-level investment bankers, analysts, salespeople, traders and researchers, a person familiar with the matter said. Young researchers across JPMorgan's entire investment and corporate banking unit are now preparing for a raise. Meanwhile, Jefferies is increasing the salaries of first-year analysts in the US by more than a quarter, the latest of the bank's hikes as it seeks to prevent layoffs amid intense workloads.

The Rise of the Giants

China's newest refineries are thriving as they align with President Xi Jinping's push to promote cleaner and more energy efficient industries. Companies like Jiangsu Eastern Shenghong and Hengli Petrochemical are now poised to become more influential in the global market. In June, Shenghong installed China's largest oil refining tower and dedicated the $10.5 billion facility to the 100th anniversary of the founding of the Communist Party. Once a synthetic fiber producer, Shenghong's stock has more than quadrupled since the project began two years ago. Hengli's stock has more than tripled since its first refinery in late 2018.

author

Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.


Related Posts
usd-big-changes-led-to-big-signals

USD'S BIG CHANGES LED TO BIG SIGNALS

just-what-we-need-great-volatility-for-the-usd

JUST WHAT WE NEED: GREAT VOLATILITY FOR THE USD

good-data-for-our-trading-signals-today

GOOD DATA FOR OUR TRADING SIGNALS TODAY

a-lot-of-important-economic-data-today

A LOT OF IMPORTANT ECONOMIC DATA TODAY


0 Comment

Leave a comment