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☆ Sterling slippery, stocks stalling as BoE boost fades
▼ + stars: | 2022-09-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

S&P 500 futures fell 0.2%. European futures rose 0.6% and FTSE futures lifted 0.3%. The U.S. dollar index had its worst session in 2-1/2 years on Wednesday, recoiling from record highs. The Australian dollar fell 0.8% to $0.6470. Brent crude futures fell 0.8% to $88.62 a barrel.

The Fed's relentless interest rate-raising campaign, and resulting worldwide surge in the dollar, is tightening global financial conditions at an alarming pace. Many feel this should put global financial leaders on the highest contagion alert. China's central bank has asked major state-owned banks to be prepared to sell dollars overseas to stem the yuan's descent. chartchartEINSTEIN & INSANITYThere are signs that the recent global market turmoil is opening eyes in Washington. Perhaps surprisingly then, the last time G7 central banks acted together in FX was in 2001, selling yen for dollars.

☆ Sterling sinks to new low as 'mini budget' shatters investor faith in UK markets
▼ + stars: | 2022-09-26 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

"It also puts more pressure on the Bank of England to increase interest rates," she added. read moreScottish First Minister Nicola Sturgeon called for the Westminster parliament to be recalled to hold an emergency session. "It's hard to overstate the scale of the economic crisis caused by Friday's UK budget," she said on Twitter. read moreEYES ON BOEIn light of the rout, strategists and economists said the Bank of England needs to do something to calm markets and restore credibility. "The market is now treating the UK as if it's an emerging market.

☆ Sterling sinks to new low as 'mini budget' hits investor faith in UK markets
▼ + stars: | 2022-09-26 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

read moreOn Friday, he announced that he would cut a raft of taxes, but he did not detail how the government would fund it. , read moreIn light of the rout, strategists and economists said the Bank of England needs to do something to calm markets and restore credibility. The FTSE 100 (.FTSE) was roughly flat on the day, while the domestically focussed FTSE 250 (.FTMC) fell 1%. '1980S ON STEROIDS'Paul Dales, Capital Economics chief UK economist, said the central bank needed to take action. "The market is now treating the UK as if it's an emerging market.

☆ Droughts, Ukraine war push global grain stocks toward worrying decade low
▼ + stars: | 2022-09-26 | by ( Tom Polansek | ) www.reuters.com time to read: +8 min

But the United States, the world's top corn producer, is now expected to harvest its smallest corn crop in three years. That would be fewer days of corn stocks than the world had in 2012, when the last global food crisis spurred riots. Ukraine is expected to harvest 25 to 27 million tonnes of corn in 2022, down from 42.1 million tonnes in 2021, following Russia's invasion, according to official estimates. read moreSanctions related to the war mean Russia has also struggled to export what is expected to be a record-large wheat crop. read moreAgricultural lender Rabobank said the next U.S. wheat crop is also at risk and will be planted in dust this autumn unless rains fall.

☆ Sterling collapses as investors fly into dollars
▼ + stars: | 2022-09-26 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. Register now for FREE unlimited access to Reuters.com Register"You've got to buy the dollar as a risk off-trade. In stocks, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1% to a two-year low. Treasuries tanked as well last week, with two-year yields up 35 bps to 4.2140% and benchmark 10-year yields up 25 bps to 3.6970%. Gold hit a more-than two-year low on Friday and bought $1,643 an ounce on Monday.

☆ Italy's right-wing bloc wins election: five questions for markets
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +6 min

REUTERS/Guglielmo MangiapaneMILAN/LONDON, Sept 26 (Reuters) - Italy's right-wing bloc should have a solid majority in both houses of parliament following Sunday's election, potentially giving the country a rare chance of political stability after years of upheaval and fragile coalitions. The absence of the anti-euro rhetoric seen in the 2018 election had reassured investors in the run-up to the vote. With markets watching closely, we take a look at five key questions on the radar. Reuters Graphics2/ Could Italy's EU funding plan be modified? The Brothers of Italy sees room to amend Italy's EU-backed recovery fund programme to account for the energy shock.

☆ Reactions: Britain's pound crumbles to record lows in firesale of UK assets
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +8 min

Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File PhotoLONDON, Sept 26 (Reuters) - Britain's pound plunged to record lows on Monday and bonds were slammed for a second day, as investors punished UK assets after the government's mini-budget announcement last week. The presentation of the mini-budget was received quite badly by the markets – sterling literally collapsed. The significant tax cuts announced by the Treasury Secretary cause concerns for the currency markets because of rising government debt." One is the loss of confidence in UK fiscal policy and that won't help sterling.

☆ British pound plunges below $1.11 after new government announces tax cuts
▼ + stars: | 2022-09-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Bank of England said Thursday that the U.K. economy was likely already in a recession as it raised interest rates by 50 basis points. The pound has been on a precipitous fall against the greenback this year, hitting levels this month not seen since 1985. The embattled British pound fell 1.95% Friday against the dollar, after the new U.K. government announced a radical economic plan in a bid to boost growth. "The obvious implication is that BOE rates are likely to be higher for longer than they would have been otherwise. While textbooks suggest that higher short-term interest rates should be currency supportive, GBP has been demonstrating since the spring that this is not always thecase," she said in a note.

☆ Dollar towering, stocks cowering as Fed hikes higher
▼ + stars: | 2022-09-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

read moreS&P 500 futures were down 0.6% and the dollar was flying in early trade. The dollar index hit a 20-year high of 111.65 and the greenback's strength sent the Aussie, kiwi and Canadian dollars down to fresh multi-year lows. The Fed raised rates sharply, by 75 basis points, on Wednesday - the third such rise in a row. The yen is down about 20% on the dollar this year and at 144.29 per dollar is near a 24-year low. The U.S. dollar index hit a 20-year peak of 111.63 in the wake of the Fed hike.

☆ Confidence in UK assets on thin ice, investors warn - Reuters poll
▼ + stars: | 2022-09-21 | by ( Andy Bruce | ) www.reuters.com time to read: +4 min

Slightly more than half - 55% - of the international banks and research consultancies polled by Reuters last week said there was a high risk confidence in British assets would deteriorate sharply in the coming three months. Register now for FREE unlimited access to Reuters.com RegisterFifteen out of 29 respondents said the risk was high, including three primary dealers of British government bonds. These shifts in part reflect investors' worry that Britain's reliance on imported energy will leave it exposed to higher inflation for longer. "But the new, inexperienced government faces great challenges and could easily make missteps which add to investors' concerns." "If higher inflation becomes a more structural phenomenon... yields could also turn out to be structurally higher," Rabobank's Bas Van Geffen said.

☆ Italy's right-wing bloc set for election win: five questions for markets
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +5 min

Giorgia Meloni, leader of the nationalist Brothers of Italy, is seen as frontrunner to become Italy's first female prime minister. read moreThe absence of anti-euro rhetoric seen in the 2018 election has reassured investors, for now. At around 225 basis points, the closely watched gap between 10-year Italian and German bond yields has been relatively stable . That would cause some angst since the constitution protects issues related to Italy's EU membership. read moreReuters Graphics2/ Could Italy's EU funding plan be modified?

☆ Some farmers in Europe are shutting operations and reducing production because of the energy crunch, adding to the global food crisis
▼ + stars: | 2022-09-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Europe faces a potential energy shortage this winter as Russia slows its natural-gas supply. The surge in natural-gas prices is hitting farms that rely on energy to produce food. A top Swedish tomato producer is halting winter plantings and Dutch greenhouses are scaling down. As energy is required throughout the food production process, farmers and food producers are feeling the pinch from red-hot prices with some halting or slowing output in the colder months ahead. That's because Nordic Greens had already locked in tomato prices earlier in the year when electricity prices were lower, explained the company's site manager Mindaugas Krasauskas.

☆ Europa se confruntă cu stocuri de carne de porc din cauza coronavirusului şi a pestei porcine
▼ + stars: | 2020-11-22 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

Chiar dacă mulţi alţi producători europeni profită de importurile record de carne de porc ale Chinei, abatoarele din unele ţări se confruntă şi ele cu restricţii la export. Încetinirile provocate de coronavirus au contribuit şi ele la apariţia a sute de mii de porci nevânduţi în fermele din Germania. Max Green, analist la IHS Markit, spune că deşi China "absoarbe cantităţi uriaşe de carne de porc, nu este suficient pentru a susţine preţurile". Uniunea Europeană este cel mai mare exportator de carne de porc. În aceste condiţii, abatoarele din Danemarca sunt nevoite să lucreze şi în weekend, şi să angajeze personal suplimentar, pentru face faţă afluxului de porci, spune Jais Valeur, director general la Danish Crown Group.

Persons: agerpres.ro, Max Green, Rupert Claxton, Analistul, Justin Sherrard Organizations: Uniunea Europeană, Danish Crown Group, american, Agriculturii Locations: Europa, pesta, Germania, UE, Asia, Chinei, China, Germaniei, Danemarca, graniţă, Danish

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