Investors Global Markets Buzz 8.2.16

Investors  Global Markets Buzz 8.2.16

Investors Global Markets Buzz 8.2.16

Looking to jolt the nation

back to life, Japanese Prime Minister Shinzo Abe’s cabinet has approved a ¥28T ($274B) stimulus package amid a growing consensus that monetary policy alone won’t be able to revive the economy. According to Dow Jones, the stimulus package ranks among Japan’s biggest since the global financial crisis, and will: Lift GDP by 1.4%, include childcare benefits, provide $150 handouts to 22M low income people, loan ¥10.7T for infrastructure and provide ¥7.5T for direct fiscal spending.

Typhoon Nida has swept through Hong Kong,

shutting down its financial hub and disrupting hundreds of flights, but no major damage was reported as the storm moved onto the mainland. Winds of up to 90 miles per hour were recorded in some parts of the city, according to the Hong Kong Observatory, which also warned of the potential risks of flooding.

The Reserve Bank of Australia

cut its benchmark interest rate overnight by 25 basis points to a fresh record low of 1.50% amid signs of slowing economic growth and persistently low inflation. “This is expected to remain the case for some time,” the RBA said in a statement. The Aussie slumped after the rate cut, while Australian equities remained in negative territory.

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U.K. Prime Minister Theresa May

will outline her bid to reshape the British economy for a post-Brexit world today, reviving the once unfashionable concept of industrial policy 30 years after Margaret Thatcher killed it off. May’s office said the strategy would focus on addressing long-term industrial productivity growth, including encouraging innovation and focusing on sectors and technologies that will give Britain a competitive advantage.

U.K. construction shrank

the most since the financial crisis in July, with companies citing uncertainty related to Brexit for the continued weakness. Markit’s Purchasing Managers Index for construction activity slipped to 45.9 from 46 in June, marking the lowest level since 2009 (when the economy was last in a recession). All three sectors – housing, commercial and civil engineering – recorded sub-50 readings.

Oil prices are edging up

after U.S. crude broke below $40 per barrel in the prior session, but traders said fuel markets continue to be dogged by a production glut. “We got here on the back of excessive storage in crude oil and gasoline,” said Bob Yawger, director of the futures division at Mizuho Securities. WTI settled 22% below its June peak Monday, meeting the common definition of a bear market.

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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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