Naeem Aslam
Zaye Capital Markets
Asia
Asian markets have also joined a bull market. After being mired in a downward spiral for the most part of 2022 due to fears about the economic toll that viral restrictions would take, the stock market in China has gotten off to a solid start in 2023. The market has received an extra push, which has helped Asia rebound. This boost is the result of regulatory risks being reduced and further assistance measures being implemented to help resuscitate the struggling property industry.
Guo Shuqing, the party secretary of the People's Bank of China, stated in an interview with People's Daily that was published on Sunday that China's economic growth will quickly rebound and return to its "normal" path as Beijing provides more financial support to households and companies to help them recover after the nation ended its Covid-Zero policy.
Forex
The decline in the value of the Dollar continues today as investors are gambling that the Federal Reserve would decrease the pace at which it raises interest rates since the index of services produced by the Institute for Supply Management has gone in the contraction region and pay growth is slowing. The weakness in the dollar index is good news for other currencies like the Euro and the Sterling.
The information is purely for education purposes only and cannot be perceived as an advise.
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