US Indices fail to capitalize on early week recovery as Treasury Yields rebound and Alphabet cloud business disappoints. US Yields are rising at the fastest pace since the 1980s, is this something that should concern Equity markets?
EUR/USD Exchange Rate Falls Further on US Economic Recovery Hopes
Since touching impressive highs at the end of February, the Euro to US Dollar (EUR/USD) exchange rate has been plummeting and shedding its ground. Investors are buying the US Dollar (USD) in a rebound rally due to hopes that the US economy will recover.
At the end of February, EUR/USD touched on a high of 1.2239, but has since plunged back down. Last week saw EUR/USD open at the level of 1.2072 and shed around a cent and a half, closing at the level of 1.1912.
EUR/USD has continued its tumble this week so far. At the time of writing, EUR/USD is trending near a low of 1.1861, the lowest level for the pair in 3 months since November 2020.
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Asia-Pacific Shares Mostly Higher; China Launches Anti-Trust Probe into AlibabaChina’s State Administration for Market Regulation said it has opened an investigation into Alibaba over monopolistic practices.
Dec 24, 2020 01:35 PM GMT
The major Asia Pacific stock indexes finished mostly higher on Thursday with China’s Shanghai Index losing ground in reaction to the news that Chinese regulators will probe tech-giant Alibaba for suspected monopolistic behavior.
According to reports, China’s State Administration for Market Regulation said through official online channels it has opened an investigation into Alibaba over monopolistic practices. The news was first reported by Bloomberg, and was announced by Chinese state news agency Xinhua.