The highest index in a week in the world capital market, the price of the euro increased – share biz

The highest index in a week in the world capital market, the price of the euro increased – share biz
The highest index in a week in the world capital market, the price of the euro increased – share biz

share the business the desk: The head of the European Central Bank (ECB) on Thursday warned that interest rates in the eurozone would rise to a record as the euro weakened against the dollar. In this situation, he asked to be more strict in controlling inflation. The day after this, the euro rose against the US dollar at the ECB on Friday. And due to the weak value of the dollar yesterday, the global stock market index rose to the highest level in a week. Meanwhile, due to relief in the dollar price, Asian stock market indices also increased. Those concerned believe that the price of the euro has increased due to the ECB chief’s ‘tough’ comments on inflation. News: BBC, Reuters.

The ECB wants to raise the euro by 1.5 percent over the next week, with a record 75 basis points warning of a rate hike on Thursday. Even ECB President Christina Lagarde has spoken of fears of a recession in the coming winter in the Eurozone. Earlier, the ECB raised interest rates last July.

On the other hand, US Federal Reserve Chair Jerome Powell said on Thursday that the central bank is “strongly committed” to controlling inflation, but it is expected that this will not be possible without controlling the “high social costs” of past inflation.

In this regard, Matthias Scheiber, global head of portfolio management multi-asset solutions Allspiring, said, “We want to see ‘stronger action’ on inflation not just in the US, but globally from central banks such as the Bank of England and the ECB.”

Meanwhile, Germany’s two-year bond rose 9 basis points to 1.417 percent yesterday, the highest for a second day since 2011. As a result, the price of the euro rose by one percent to $1.0102 yesterday.

In this regard, an analyst of Commerce Bank wrote in a note, next month’s ECB top-level meeting indicated that Europe’s inflation rate will rise to 75 bp, which the ECB president has already made strong comments. On the other hand, the US dollar lost 0.95 percent against the major currencies yesterday.

In European stock markets yesterday, the Euro STOXX 50 rose 0.73 percent, while the German DAX rose 0.2 percent and the FTSE rose 1.4 percent. On the other hand, the S&P 500 index rose 0.5 percent and the Nasdaq index rose 0.7 percent, the highest in the last nine days, on selling pressure among the main indexes of wall-sitters. And sterling rose 1.1 percent against the dollar. On the other hand, the dollar fell 1.2 percent yesterday against the Japanese currency yen, the biggest decline in the last 24 years.

Meanwhile, various indices in the Asian capital market also increased due to the decline in the dollar price. The MSCI World Stock Index rose 0.63, up 1.5 percent for the week. And shares in Asia Pacific outside Japan rose 1.5 percent. On the other hand, the Hong Kong stock index rose 2.8 percent. China’s blo-chip Hong Sen index rose 1.4 percent.

China’s Consumer Affairs Bureau released a report yesterday saying China’s consumer spending and manufacturing costs rose in August, but were lower than expected. Because Beijing has already announced some incentive packages for farmers. On the other hand, Japan’s Nikkei (N225) index rose 0.50 percent.

Meanwhile, despite the rise in the price of fuel oil in the world market in the last few days, Russian investors have made new threats about oil and gas exports. As a result, fuel oil prices increased yesterday. While US crude oil rose 1.2 percent to $84.53 per barrel. On the other hand, the price of crude Brent crude oil increased by 1.4 percent and was sold at 90.41 dollars per barrel.

Meanwhile, gold prices also increased yesterday. Gold prices rose 1.22 percent to trade at $1.726 per ounce. Which essentially helped to weaken the dollar.

The article is in Bengali

Tags: highest index week world capital market price euro increased share biz

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