fbpx
loan

Forex News December 20, 2021

#edgeforex #trading #market #stocks #money #forex #china #japan #australia #crypto #cryptocurrencies #loan #vaccinations #bitcoin loan

Asia 

China is pressing private and state-owned companies to buy distressed developers’ real estate.

Toyota extends December factory shutdowns due to supply chain difficulties | BOJ Governor Kuroda said the large-scale monetary easing phase is still ongoing.

China loan rates: 1 year 3.80 percent (down from 3.85 percent) and 5 year 4.65 percent (unchanged) 

RBA Board Minutes for the December meeting will be available on Tuesday. 

Companies in China are cutting off tens of thousands of workers as a result of crackdowns. Homebuyers in China are still hesitant, according to a property developer in China.

China is pressing huge private and state-owned property businesses to buy struggling developers’ real estate projects in order to lessen the danger that increasing debt loads could destabilize the economy. 

The PBOC and the China Banking and Insurance Regulatory Commission (CBIRC) recently sent a letter to financial institutions asking them to boost financial support for such purchases.

Australia says no more COVID-19 limitations – citing high vaccination rate in the summer.

Canada 

The Bank of Canada is expected to modify its interest rate forecast in the new year. 

According to Reuters (from Friday ICYMI), Canada’s central bank is likely to change its interest rate guidance in the new year.  So it has the option of raising borrowing costs earlier than planned notwithstanding the threat the Omicron variant poses to growth 

January will be a proclamation that every meeting is now a live meeting for a rate rise, 

The bank will not shift course on Omicron because it will be seen as inflationary since it might further disrupt supply networks. 

OIL 

Crude prices are under pressure, with WTI flirting with the $68 mark. 

Crude prices are off to a shaky start this week, with WTI down over 4% and flirting with $68, as supply fears weigh on mood. 

Lockdowns in Europe, as well as concerns that China may tighten restrictions ahead of the Lunar New Year in February, are on traders’ thoughts.

Germany 

Germany would not require a shutdown, according to German Economy Minister Habeck, but it will demand harsher limitations. 

This comes on the heels of similar remarks made over the weekend. It appears that there is no desire to lock them up for a second Christmas.

Leave a Comment

LinkedIn
Share
Telegram
WhatsApp