MARKET UPDATE

Dollar Edges Lower; Australian Dollar Stabilizes After RBA Meeting

The U.S. dollar edged lower Tuesday, continuing the previous session’s hefty losses, while the Australian dollar recovered after early selling on the back of the Reserve Bank of Australia indicated it would keep interest rates at record low levels for longer than expected.

 

India’s budget aims to boost spending to support growth

Indian Finance Minister Nirmala Sitharaman on Tuesday unveiled the budget for fiscal 2022/23 that aims to boost growth amid continued disruption from COVID-19 and rising inflation.

 

Spanish bank Ibercaja postpones IPO due to market volatility

Spanish bank Ibercaja has postponed an initial public offering (IPO) because of the volatility in international markets, the bank said on Tuesday in a filing to the Madrid market regulator.

 

German retail sales slump in December as COVID measures hit trade

German retail sales dropped more than expected in December, data showed on Tuesday, as tighter coronavirus-related restrictions hurt trade in textiles, clothing, shoes and leather goods.

The Federal Statistics Office said retail sales – a volatile indicator often subject to revisions – tumbled 5.5% on the month in real terms, compared with a Reuters forecast for a fall of 1.4%.

 

Japan’s ANA surprises with small Q3 operating profit but keeps FY loss guidance

ANA Holdings Inc surprised with a small third-quarter operating profit on Tuesday but Japan’s biggest airline still expects a loss for the year, indicating a worse-than-expected fourth quarter as the Omicron variant spreads.

ANA’s 100 million yen ($869,716) operating profit for the quarter ended Dec. 31 was its first in eight quarters and contrasted with the 16.5 billion yen loss forecast by five analysts polled by Refinitiv.

 

 

 

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