Will RBA press AUD down again?
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
China regulates fund outsourcing business to withstand shadow banking
China's securities regulator has recently introduced fresh restrictions for financial institutions considering outsourcing fund management to external fund managers, as the government tightens shadow banking. That’s what the official Securities Times informed on Monday
Financial institutions, including insurers and banks have been providing fund management mandates to funds exceeding 1 trillion Yuan to mutual fund houses because they outsource their wealth management operations.
Regulators are concerned that such funds are utilized as a shadow banking channel by many lenders for the purpose of making risky bets in corporate equities or bonds, without efficient management by the external fund house.
In order to prevent this, on Friday, the China Securities Regulatory Commission released rules, requiring funds where single institutions control 50% or more to operate exactly as closed-end funds, and barring them from getting subscriptions from individual investors.
Similar
NFP is coming!
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Rise of NZD, dovish Fed, and stocks indices' sell-off
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
Latest news
NVIDIA beat earnings forecasts!
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC may increase oil supply at meeting on March 4
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
Risk on is back on market
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
Deposit with your local payment systems
