South African Rand Hits New Historical Low Against US Dollar
The South African rand posted a new historical low of 18.278 against the greenback, with investors selling off most vulnerable assets and moving to safe haven assets as the outbreak of Covid-19 has increased worries about the currently feeble economy.
Read MoreEurozone Private Sectors Posts Record Contraction on Coronavirus Outbreak
The Eurozone private sector recorded its weakest performance in March, as countries continue to grapple with coronavirus outbreak. Private sector enterprises fared much worse than 2008 financial crisis, according to IHS Markit survey results. The flash composite output index declined
Read MoreNew Zealand Rolls Out Additional Stimulus Measures to Battle COVID-19 Impact on Economy
New Zealand government today rolled out additional measures to back the economy as the country is getting ready for a long battle against coronavirus. The country, which escalated coronavirus Alert Level to 3 today, is expected to raise it to
Read MoreMexico Central Bank Announces Deeper Rate Cut to Mitigate COVID-19 Disease Impact
Banco de México, in an off-cycle step, announced its largest benchmark rate cut in six years and committed support for the financial markets within the framework of further combative actions to alleviate the impact of COVID-19 disease implications. Mexico’s central
Read MoreNew Zealand GDP Growth Slows Down to 0.5% in 4Q19
Statistics New Zealand reported that the country’s economy expanded by a seasonally adjusted 0.5% q-o-q in the fourth-quarter of 2019. That was below the 0.8% q-o-q GDP growth recorded in the earlier quarter, but in line with economists’ expectations. The
Read MoreBank of Japan Rolls out Additional Easing Measures to Nullify COVID-19 Impact
The Bank of Japan has announced additional policy easing measures, along with other parallel initiatives with top central banks across the globe in order to mitigate the effects of financial market sell off sparked by worries over coronavirus outbreak. The
Read MoreIceland Slashes Interest Rate to Record Low To Combat COVID-19 Impact
The Central Bank of Iceland has trimmed its benchmark interest rate and slashed the reserve requirement for banks in a startling move Wednesday as the economic outlook is turning gloomy amidst the outbreak of coronavirus (COVID-19 disease). The central bank
Read MoreRussian Rouble Falls to Fourteen-Month Low as Oil Prices Nose Dive
The Russian rouble declined against the greenback Friday to hit a new fourteen month low as investors ran for cover to protect their wealth amidst the unabated spread of coronavirus across the world. The sharp decline in oil price, following
Read MoreUS Fed Announces Emergency Rate Cut, Hong Kong Follows Suit
The monetary authority of Hong Kong followed the footsteps of the US Federal Reserve and slashed the base lending rate by 50 basis points today. Notably, on Tuesday, the US Federal Reserve announced an emergency interest rate cut to negate
Read MoreJapan Manufacturing Sector Contracts the Most in Four Years
In the fourth-quarter of fiscal 2019, Japanese enterprises slashed their investment on equipment and plant, while the manufacturing sector shrank the maximum since 2016. Production volumes were negatively impacted by delays in input deliveries and drop in demand in February.
Read More
