The infoshot to help kick-start your week
Last Week
- The Japanese Yen has slid to its lowest level against the dollar since 1998. On Thursday, the pair breached the key level of 140 yen against the dollar, prompting the government to weigh action. While other Asian central banks have hiked borrowing rates to mirror the US, Japan has been maintaining ultra-low interest rates to facilitate economic recovery, which is a key contributor to the Yen’s decline.
- Members of the G7 have agreed to impose a price cap on Russian oil going forward, designed to limit Russia’s ability to finance its war on Ukraine. They also claim that the policy will help reduce global energy prices. However, analysts believe that India and China will not follow the G7 policy, as they have thus far not joined the western sanctions targeting Russia.
- Stocks rose on Friday, as US Nonfarm Payrolls for August came in about expected at 315,000, fewer than in July. The results eased fears that a thriving labour market would give the Fed more leeway for aggressive rate hikes. The Dow Jones climbed 1%, the S&P 500 rose 1.2% (back above 4000) and the Nasdaq Composite grew 1.3%.
Market Pulse
Coming Up
- German Industrial Production (MoM July) released 7th September, forecasted to be -0.2%, decreasing by 0.6% from June.
- ECB Interest Rate Decision to be released 8th September, predicted to increase by another 50 basis points.
Notice:
The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.Open document settingsOpen publish panel
