Fed, Japan, Oil in focus... Bangladesh central bank chief quits after $101 million theft...
Fed, Japan, Oil in focus
Three main concerns are on the mind of investors so far Tuesday.
Firstly, the Fed begins its latest 2-day FOMC meeting with an interest rate decision due Wednesday. While expectation points to a hold-steady for now, that could see markets wobble on concern over the US economy depending on the language and tone used in the announcement.
Secondly, Japan. The BoJ announced Tuesday that there will be no change in its monetary policy with economic conditions worsening for the country. Inflationary concerns and a negative outlook saw Asian markets, except Shanghai, head lower as investor-caution grew.
Thirdly, oil is in decline again with Iran effectively ruling out any deal on freezing output. The country, which has only recently been allowed to start exporting following sanctions, wants to double its current output before considering a cap on production. Iran is also actively courting investment in its oil and gas industries.
European markets have tracked Asia with declines for all the major indexes. Resources are the largest decliner. UK investors are watching two key events this week; the government’s budget Wednesday and the latest interest rates decision from the Bank of England Thursday.
Wall Street and Toronto are expected to open lower.
Bangladesh central bank chief quits after $101 million theft
The governor of the central bank of Bangladesh has tendered his resignation following the theft of $101 million of foreign currency reserves last month. Atiur Rahman had quit days after the country’s finance minister referred to the handling of the theft as “very incompetent”. Rhaman told Bloomberg: "If it’s my fault, they can take action against me, against Bangladesh Bank, but they cannot insult me in public."
Three main concerns are on the mind of investors so far Tuesday.
Firstly, the Fed begins its latest 2-day FOMC meeting with an interest rate decision due Wednesday. While expectation points to a hold-steady for now, that could see markets wobble on concern over the US economy depending on the language and tone used in the announcement.
Secondly, Japan. The BoJ announced Tuesday that there will be no change in its monetary policy with economic conditions worsening for the country. Inflationary concerns and a negative outlook saw Asian markets, except Shanghai, head lower as investor-caution grew.
Thirdly, oil is in decline again with Iran effectively ruling out any deal on freezing output. The country, which has only recently been allowed to start exporting following sanctions, wants to double its current output before considering a cap on production. Iran is also actively courting investment in its oil and gas industries.
European markets have tracked Asia with declines for all the major indexes. Resources are the largest decliner. UK investors are watching two key events this week; the government’s budget Wednesday and the latest interest rates decision from the Bank of England Thursday.
Wall Street and Toronto are expected to open lower.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
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| US Dow Jones | 17,229.13 (0.09 per cent) | +7.86 per cent | -2.93 per cent |
| TSX Composite | 13,477.54 (-0.33 per cent) | +8.85 per cent | -8.51 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE | 6,139.30 (-0.57 per cent) | +5.41 per cent | -8.92 per cent |
| German DAX | 9,944.22 (-0.46 per cent) | +8.01 per cent | -16.45 per cent |
| Asia (at close) |
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| China CSI 300 | 3,074.78 (+0.30 per cent) | +4.35 per cent | -15.01 per cent |
| Japan Nikkei | 17,117.07 (-0.68 per cent) | +6.83 per cent | -11.10 per cent |
| Other Data (at 6.30am ET) |
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| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 38.45 (-2.73 per cent) |
36.20 (-2.64 per cent) |
1233.00 (-0.97 per cent) |
U$0.7465 |
| Aus. Dollar |
|||
| U$0.7460 | |||
Bangladesh central bank chief quits after $101 million theft
The governor of the central bank of Bangladesh has tendered his resignation following the theft of $101 million of foreign currency reserves last month. Atiur Rahman had quit days after the country’s finance minister referred to the handling of the theft as “very incompetent”. Rhaman told Bloomberg: "If it’s my fault, they can take action against me, against Bangladesh Bank, but they cannot insult me in public."
