Five factors that are shaping the market today
The lieutenant RBI governor has finally been elevated to governor's post to succeed Raghuram Rajan. Marketmen are relieved as this signals a continuity of polices at RBI.
BusinessToday.In
- Aug 22, 2016,
- Updated Aug 23, 2016 11:00 AM IST
The lieutenant RBI governor has finally been elevated to governor's post to succeed Raghuram Rajan. Marketmen are relieved as this signals a continuity of polices at RBI. Central Bank in US on Sunday said it is close to hitting its targets hinting rate hike in 2016 is well on cards, while in Japan, companies are unenthused over stimulus in the economy.
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- Urjit Patel, the new RBI top brass: Comments from leading brokerages and stock market analysts suggest investors are cheerful with the government's decision to appoint Patel as RBI governor as he is seen as Rajan's redux in the RBI. As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank.
- Fed close to hitting job and inflation targets: Fed Vice Chairman Stanley Fischer on Saturday appeared confident over US economy's current strength, saying the job market was close to full strength and still improving. However, he did not address when the US Federal Reserve should next raise interest rates. The comments came ahead of the speech scheduled on Friday by Fed Chair Janet Yellen at Jackson Hole, Wyoming, where she is expected to surmise the seemingly split views from Fed policymakers all through last week.
- Global markets trade lower: Showcasing lower trend seen on Wall Street on Friday, Asian markets continued to trade in red terrain as investors weighed prospects for an interest rate increase in the US in the coming months.
- Oil prices fall back below $50: Oil declined in today's trade after Iraq, OPEC's second-biggest producer, said it will boost oil exports in the next few days amid a glut of supply. Analysts believe Brent would likely fall back below $50 a barrel as August's more than 20-per cent crude rally looks overblown.
- Japan Inc unenthused over stimulus: A Reuters poll suggested Japanese companies overwhelmingly say the government's latest stimulus will do little to boost the economy and the Bank of Japan should not ease further. However, speculation is rife for further stimulus in the coming months.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
The lieutenant RBI governor has finally been elevated to governor's post to succeed Raghuram Rajan. Marketmen are relieved as this signals a continuity of polices at RBI. Central Bank in US on Sunday said it is close to hitting its targets hinting rate hike in 2016 is well on cards, while in Japan, companies are unenthused over stimulus in the economy.
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- Urjit Patel, the new RBI top brass: Comments from leading brokerages and stock market analysts suggest investors are cheerful with the government's decision to appoint Patel as RBI governor as he is seen as Rajan's redux in the RBI. As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank.
- Fed close to hitting job and inflation targets: Fed Vice Chairman Stanley Fischer on Saturday appeared confident over US economy's current strength, saying the job market was close to full strength and still improving. However, he did not address when the US Federal Reserve should next raise interest rates. The comments came ahead of the speech scheduled on Friday by Fed Chair Janet Yellen at Jackson Hole, Wyoming, where she is expected to surmise the seemingly split views from Fed policymakers all through last week.
- Global markets trade lower: Showcasing lower trend seen on Wall Street on Friday, Asian markets continued to trade in red terrain as investors weighed prospects for an interest rate increase in the US in the coming months.
- Oil prices fall back below $50: Oil declined in today's trade after Iraq, OPEC's second-biggest producer, said it will boost oil exports in the next few days amid a glut of supply. Analysts believe Brent would likely fall back below $50 a barrel as August's more than 20-per cent crude rally looks overblown.
- Japan Inc unenthused over stimulus: A Reuters poll suggested Japanese companies overwhelmingly say the government's latest stimulus will do little to boost the economy and the Bank of Japan should not ease further. However, speculation is rife for further stimulus in the coming months.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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