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Banker Mustafa Duman was appointed to the post, according to the Official Gazette. He has held executive positions at Mo...
30/03/2021

Banker Mustafa Duman was appointed to the post, according to the Official Gazette. He has held executive positions at Morgan Stanley (NYSE:MS) Securities and also had treasury, risk and auditing jobs in the financial sector, the central bank said.

The decree gave no reason for the change. Cetinkaya, a former CEO of the Istanbul stock exchange, had served since mid-2019 at the central bank, which has seen rapid turnover in its upper ranks including four governors in two years.

The lira weakened in response and touched 8.29 against the U.S. dollar, before firming to 8.26 by 0652 GMT.

On March 20, Erdogan ousted Naci Agbal, an orthodox governor who hiked the key interest rate to 19% to address double-digit inflation. Sahap Kavcioglu, who has supported the president's view that high rates cause inflation, was named the new chief.

Oil prices rose on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and focus turned to an ...
30/03/2021

Oil prices rose on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and focus turned to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns.

Brent crude was down 21 cents, or 0.3%, at $65.19 a barrel by 0411 GMT. U.S. oil was up 19 cents, or 0.3%, at $61.75 a barrel.

Ships were moving through the Suez Canal again on Tuesday after tugs refloated the giant Ever Given container carrier, which had been blocking a narrow section of the passage for almost a week, causing a huge build-up of vessels around the waterway.

The dollar edged higher in early European trading Tuesday, hitting a one-year high versus the Japanese yen, as U.S. Trea...
30/03/2021

The dollar edged higher in early European trading Tuesday, hitting a one-year high versus the Japanese yen, as U.S. Treasury yields started climbing again on inflation concerns.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 93.052, a new 4-1/2-month high.

Most of the greenback’s move higher Tuesday has been against the yen, with USD/JPY up 0.3% at 110.15, moving above 110 for the first time since March of last year, with this pair particularly sensitive to movements in U.S. Treasury yields.

“Oil is once again trading lower as recent volatility calms, but is still a long way from petering out,” said Sophie Gri...
25/03/2021

“Oil is once again trading lower as recent volatility calms, but is still a long way from petering out,” said Sophie Griffiths, markets analyst at OANDA.

By 11:00 AM ET (15:00 GMT), New York-traded West Texas Intermediate, the benchmark for U.S. crude, was down $3.29, or 5.4%, at $57.89, after falling to as low as $57.77 during the session.

London-traded Brent, the global benchmark for crude, slid $3, or 4.7%, to $61.41, after a session low at $61.27.

Wall Street's main indexes fell on Thursday, dragged down by economically sensitive bank and energy stocks and shrugging...
25/03/2021

Wall Street's main indexes fell on Thursday, dragged down by economically sensitive bank and energy stocks and shrugging off data showing the labor market continued to limp out of a recession.

The Labor Department's weekly jobless claims report, the most timely indicator of economic health, showed fewer-than-expected Americans filed new claims for state unemployment benefits last week.

Ten of the 11 S&P sectors fell in early trading with energy, industrials and financials stocks, which recently came into favor on recovery hopes, declining the most.

"The entire market is sort of shortsighted, focused more on the recent run and completely forgetting about the improving outlook," said Robert Pavlik, senior portfolio manager at Dakota Wealth in New York.

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