Reshaping Of World Reserves Could Be In Order

Apr 27 2013

Countries like China, Canada, Brazil, Australia, Norway and Russia now sport a chance to break into the $11 trillion global reserve mix. If such a move were to happen, it would inject several billion dollars from the private sector into the markets. Deteriorating sovereign credit across most industrialized economies has created a common mindset among central bank asset managers to look at options different from the traditionally dominant currencies like the US dollar, euro, British pound, Swiss franc and the Japanese yen. A report from the IMF shows the efficient management of reserves in these countries have ensured that such currencies improve their growth rates to 6.1% viz. a 25% increase in the same.

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Hoax Tweet Sets Up A Brief Fall In Stocks

Apr 26 2013

With the exception of a short and sharp decline courtesy a hoax tweet about twin blasts at the White House, stocks ended in positive after the rally on Tuesday. Two hackers triggered a steep decline in stocks after a false tweet surfaced; claiming that president Barack Obama had been injured in twin explosions that rocked the White House. The impact of the tweet on benchmark indices were clear as the S&P 500 index dropped 0.6% in a space of just three minutes. The S&P 500 which has a value of around $14.6 trillion was wiped off its $136.5 billion from the index’s value, moments after the tweet released.

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Europe Dubbed The Laggard As G20 Is All Set To Convene

Apr 25 2013

The recession-struck euro zone is bound to stand out for all the incorrect reasons at the global finance ministers’ meeting in Washington to assess the current situation prevailing in the world economy owing to the clumsy bailout of Cyprus. Economists who were polled by Reuters voted that China will show an estimated 8% growth rate for the first quarter this year. At the other end of the world, the US economy isn’t firing on all cylinders but is expected to maintain decent growth courtesy its figures on housing starts and also a couple of surveys conducted by the Federal Reserve. The economy in Japan is also on the path of resurgence thanks to the aggressive monetary stance of Bank of Japan aiming to end 18 years of stagnation.

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