User blogs
The China Europe International Business School (CEIBS), one of the
world's top business schools, just made a quantum leap forward by
inaugurating the expansion of its new Zurich Campus in Horgen and
simultaneously celebrating the school's 25th anniversary, thereby
further cementing its position as a global leader in educating European
and Chinese executives, business leaders and managers.To get more news
about China business school, you can visit acem.sjtu.edu.cn official website.
Doubling the size of the new Zurich Campus and the inauguration of a second building marks a significant milestone in the global expansion of CEIBS. CEIBS fosters cross-cultural leadership and collaboration, boosts European and Asian entrepreneurship, and is taking executive education to the next level. CEIBS offers unique, in Europe and Asia accredited (EQUIS, AACSB), practical executive education and corporate programmes.
Dr. Yuan Ding, CEIBS Vice-President and Dean, said: "Switzerland is a role model and ideally situated in the heart of Europe. CEIBS is bringing this European and Western management know-how, values and practices to China. In return offering European and Western executives the chance to gain in-depth insight on how to successfully do business in China, obtaining a valuable business network as well as the strategic knowledge that allows to create a successful future strategy, reassuring growth and staying in the competition."
Ding added that: "This is in line with the mission of CEIBS 'China Depth, Global Breadth'. Thus, one could say CEIBS is building bridges between Europe and China enabling an effective two-way communication."
CEIBS ranks within the top 5 business schools in the world and is number 1 in China, according to the Financial Times' top 5 list of MBA and EMBA programmes.
Dr. Robert Straw, CEO of CEIBS Zurich, further explained: "The expansion of the Zurich Campus signifies the importance of the European market and the strength of the European marketplace, its management culture and research facilities. Often Western businesses fail to be successful in China due to a lack of understanding of the Chinese market, regulations or by applying Western business models without having the ability to make the necessary adjustment with regards to local differences."
"Same goes for many Chinese companies when trying to adapt to the European market. Another aspect is the drastically increased competition companies face in China compared to Europe. Thus, it is important to obtain the invaluable knowledge not just in theory but also through an immersive programme that has practical value," he added.
The new, state of the art green building on the shores of Lake Zurich was predominantly built by local vendors and in line with sustainability and energy guidelines and standards, featuring a photovoltaic system, powering the building through solar energy, an environmentally friendly mineral facade insulation as well as a cooling system that makes use of the varying water temperatures of the Lake Zurich. In addition, the campus will be free from any plastic bottles.
The establishment of our Zurich campus and its expansion were possible because of generous supports from our Alumni, recognizing and valuing the European hub of the Business School. Special honours were shown to Mr. Xueping Pan, the Chairman and CEO of the Jiangsu Jinsheng Industry Co. Ltd, for his generous financial support for the establishment of Zurich campus in 2015. Special honours were also shown to Mr. Manli Wong, the Chairman of Man Wah Holdings Ltd., for his donation financing the campus expansion project, by naming the new building the 'Min Wah Building'. We also acknowledged the donation of the solar energy system for the campus extension by GCL System Integration Technology Co. Ltd.
Doubling the size of the new Zurich Campus and the inauguration of a second building marks a significant milestone in the global expansion of CEIBS. CEIBS fosters cross-cultural leadership and collaboration, boosts European and Asian entrepreneurship, and is taking executive education to the next level. CEIBS offers unique, in Europe and Asia accredited (EQUIS, AACSB), practical executive education and corporate programmes.
Dr. Yuan Ding, CEIBS Vice-President and Dean, said: "Switzerland is a role model and ideally situated in the heart of Europe. CEIBS is bringing this European and Western management know-how, values and practices to China. In return offering European and Western executives the chance to gain in-depth insight on how to successfully do business in China, obtaining a valuable business network as well as the strategic knowledge that allows to create a successful future strategy, reassuring growth and staying in the competition."
Ding added that: "This is in line with the mission of CEIBS 'China Depth, Global Breadth'. Thus, one could say CEIBS is building bridges between Europe and China enabling an effective two-way communication."
CEIBS ranks within the top 5 business schools in the world and is number 1 in China, according to the Financial Times' top 5 list of MBA and EMBA programmes.
Dr. Robert Straw, CEO of CEIBS Zurich, further explained: "The expansion of the Zurich Campus signifies the importance of the European market and the strength of the European marketplace, its management culture and research facilities. Often Western businesses fail to be successful in China due to a lack of understanding of the Chinese market, regulations or by applying Western business models without having the ability to make the necessary adjustment with regards to local differences."
"Same goes for many Chinese companies when trying to adapt to the European market. Another aspect is the drastically increased competition companies face in China compared to Europe. Thus, it is important to obtain the invaluable knowledge not just in theory but also through an immersive programme that has practical value," he added.
The new, state of the art green building on the shores of Lake Zurich was predominantly built by local vendors and in line with sustainability and energy guidelines and standards, featuring a photovoltaic system, powering the building through solar energy, an environmentally friendly mineral facade insulation as well as a cooling system that makes use of the varying water temperatures of the Lake Zurich. In addition, the campus will be free from any plastic bottles.
The establishment of our Zurich campus and its expansion were possible because of generous supports from our Alumni, recognizing and valuing the European hub of the Business School. Special honours were shown to Mr. Xueping Pan, the Chairman and CEO of the Jiangsu Jinsheng Industry Co. Ltd, for his generous financial support for the establishment of Zurich campus in 2015. Special honours were also shown to Mr. Manli Wong, the Chairman of Man Wah Holdings Ltd., for his donation financing the campus expansion project, by naming the new building the 'Min Wah Building'. We also acknowledged the donation of the solar energy system for the campus extension by GCL System Integration Technology Co. Ltd.
Chinese leaders are conducting an import fair under intensive
anti-coronavirus controls in their latest effort to revive the world's
No. 2 economy while the United States and Europe struggle with a renewed
surge of infections.To get more news about China International Import Expo 2020, you can visit shine news official website.
Few exhibitors came from abroad for the third China International Import Expo. Most were represented by Chinese employees or managers who work in China. Beijing has eased curbs that barred foreign visitors to China, but new arrivals are required to undergo a 14-day quarantine.
China, where the pandemic began in December, became the first major economy to begin the struggle to restore normal activity after the ruling Communist Party declared victory over the virus in March. Economic growth turned positive in the three months ending in June. Retail spending has edged back above pre-virus levels.
“By hosting the expo in these difficult times, China is demonstrating its resolve to keep the global economy on track,” the official China Daily newspaper said Wednesday.
The expo does nothing to address complaints about China’s trade record that helped to spark its tariff war with Washington and fuel tension with Europe, Japan and other trading partners.
Other governments complain Beijing violates its free-trade commitments by hampering access for foreign companies that want to invest and compete in its industries. They say the ruling party improperly supports its fledgling companies in technology and other promising fields and shields them from competition.
The approximately 2,600 companies at the six-day expo that opened Thursday in a cavernous, 1.5 million square meter (16 million square foot) convention center include many that already operate in or sell to China.
Tyson Foods Inc. is at the expo for the first time to showcase its pork, beef and pet food, said Zhou Qian, the company’s public relations manager for Greater China. Tyson has been selling chicken in China for two decades and has six factories in this country.
“2020 is a very special year. The epidemic is both a challenge and an opportunity for our meat company,” said Zhou.
China has relaxed most anti-disease controls but travelers and visitors to public buildings still are checked for fever and must show a smartphone app that records whether they have been to areas with recent infections.
At the import expo, exhibitors and visitors were required to show proof they had a negative virus test within the past week. Crowds are limited to 30% of the normal capacity of the National Exhibition and Convention Center.
China held this year’s first in-person trade fair in September in Beijing. Exhibitors from abroad at the China International Fair for Trade in Services took part via the internet.
The same month, authorities opened the Beijing auto show, the first major trade show for any industry since the pandemic began. A handful of foreign visitors arrived early to wait out a quarantine, but most brands were represented by Chinese employees or executives who work in China.
Few exhibitors came from abroad for the third China International Import Expo. Most were represented by Chinese employees or managers who work in China. Beijing has eased curbs that barred foreign visitors to China, but new arrivals are required to undergo a 14-day quarantine.
China, where the pandemic began in December, became the first major economy to begin the struggle to restore normal activity after the ruling Communist Party declared victory over the virus in March. Economic growth turned positive in the three months ending in June. Retail spending has edged back above pre-virus levels.
“By hosting the expo in these difficult times, China is demonstrating its resolve to keep the global economy on track,” the official China Daily newspaper said Wednesday.
The expo does nothing to address complaints about China’s trade record that helped to spark its tariff war with Washington and fuel tension with Europe, Japan and other trading partners.
Other governments complain Beijing violates its free-trade commitments by hampering access for foreign companies that want to invest and compete in its industries. They say the ruling party improperly supports its fledgling companies in technology and other promising fields and shields them from competition.
The approximately 2,600 companies at the six-day expo that opened Thursday in a cavernous, 1.5 million square meter (16 million square foot) convention center include many that already operate in or sell to China.
Tyson Foods Inc. is at the expo for the first time to showcase its pork, beef and pet food, said Zhou Qian, the company’s public relations manager for Greater China. Tyson has been selling chicken in China for two decades and has six factories in this country.
“2020 is a very special year. The epidemic is both a challenge and an opportunity for our meat company,” said Zhou.
China has relaxed most anti-disease controls but travelers and visitors to public buildings still are checked for fever and must show a smartphone app that records whether they have been to areas with recent infections.
At the import expo, exhibitors and visitors were required to show proof they had a negative virus test within the past week. Crowds are limited to 30% of the normal capacity of the National Exhibition and Convention Center.
China held this year’s first in-person trade fair in September in Beijing. Exhibitors from abroad at the China International Fair for Trade in Services took part via the internet.
The same month, authorities opened the Beijing auto show, the first major trade show for any industry since the pandemic began. A handful of foreign visitors arrived early to wait out a quarantine, but most brands were represented by Chinese employees or executives who work in China.
Shanghai reported 49 new COVID-19 cases for Nov. 2, up from 24 a day
earlier, the national health authority reported on Tuesday.To get more shanghai coronavirus cases, you can visit shine news official website.
The National Health Commission said in a statement 44 of the new cases were imported infections originating from overseas and the other five were locally transmitted cases in the northwestern Xinjiang region.
Among the 44 imported cases, four were on a flight to the central city of Wuhan from New Delhi, India. The South Asian nation has the second-most number of coronavirus cases in the world, after the United States.
They were the city's first imported cases since Aug. 1.
The commission also reported 61 new asymptomatic cases, compared with 30 a day earlier. Of the total, 19 were passengers on the same flight from New Delhi to Wuhan, where the virus first emerged last year.
Xinjiang region reported 13 new local asymptomatic cases. Authorities in the region conducted large scale testing after a recent outbreak.
China does not classify symptomless patients as confirmed COVID-19 cases.
The total number of confirmed cases in China now stands at 86,070, while the death toll remains unchanged at 4,634.
The National Health Commission said in a statement 44 of the new cases were imported infections originating from overseas and the other five were locally transmitted cases in the northwestern Xinjiang region.
Among the 44 imported cases, four were on a flight to the central city of Wuhan from New Delhi, India. The South Asian nation has the second-most number of coronavirus cases in the world, after the United States.
They were the city's first imported cases since Aug. 1.
The commission also reported 61 new asymptomatic cases, compared with 30 a day earlier. Of the total, 19 were passengers on the same flight from New Delhi to Wuhan, where the virus first emerged last year.
Xinjiang region reported 13 new local asymptomatic cases. Authorities in the region conducted large scale testing after a recent outbreak.
China does not classify symptomless patients as confirmed COVID-19 cases.
The total number of confirmed cases in China now stands at 86,070, while the death toll remains unchanged at 4,634.
The stock market flotation of Ant Group, planned to be the biggest share
offering in history, has been dramatically suspended just two days
before dealings were due to begin in Shanghai and Hong Kong.To get more latest ant group news, you can visit shine news official website.
The move came a day after the financial tech company’s top executives including its founder, Chinese billionaire Jack Ma, were summoned to speak to regulators.
Details of the discussions were not published but a statement from the Shanghai stock exchange said Ant Group reported “changes to the financial technology regulatory environment and other major issues” in its meeting.
“This material event may cause your company to fail to meet the issuance and listing conditions or information disclosure requirements,” the stock market operator said in its statement to Ant. As a result it suspended the planned listing, prompting Ant to put the Hong Kong leg on hold as well.
China’s central bank issued new draft rules for online micro-lending on Monday that raised the amount of cash borrowers were required to hold. Ant Group owns Alipay, one of the dominant payment companies in China, alongside other subsidiaries including lenders to consumers and small businesses, a credit-scoring company and a healthcare payment products provider.
The suspension threatens to derail the biggest ever corporate fundraising just days after it attracted huge interest from institutional and retail investors across the world, with bids worth $3tn chasing $34bn (£22bn) worth of shares.
According to the original timetable Ant had been scheduled to list on the Hong Kong and Shanghai exchanges on Thursday.The listing had been expected to confirm Ant’s status as one of the world’s biggest companies by valuation, with an expected market value of more than $310bn before shares started trading. That would mean it would rival the valuation of JP Morgan, the world’s most systemically important bank.
As well as its significance for the company, the move was seen as a symbolic moment in China’s development as a financial centre, with one of the world’s biggest companies eschewing a New York listing, unlike its former parent company, Alibaba, the online retail company founded by Ma.
Meziane Lasfer, a professor of finance at City, University of London, said the lateness of the decision to suspend the listing could be harmful to China’s efforts to grow its financial sector. However, he said the greater risk to China’s reputation would be allowing the flotation to go ahead if it had truly identified regulatory problems.
A predecessor to Ant Group was spun out of Alibaba in 2011 but the latter retained a significant stake. New York-listed shares in Alibaba lost 6% on Tuesday.
His stakes in Alibaba and Ant Group have made Ma, a former English teacher, China’s richest man. Ant’s Alipay, launched in 2004, has more than 1 billion users in China, and its Yu’e Bao money market fund is one of the biggest in the world.
However, Chinese firms are also subject to regulation by the Communist party, which might be more cautious if it foresaw issues around a stock market float of Ant’s size, analysts said.
The move came a day after the financial tech company’s top executives including its founder, Chinese billionaire Jack Ma, were summoned to speak to regulators.
Details of the discussions were not published but a statement from the Shanghai stock exchange said Ant Group reported “changes to the financial technology regulatory environment and other major issues” in its meeting.
“This material event may cause your company to fail to meet the issuance and listing conditions or information disclosure requirements,” the stock market operator said in its statement to Ant. As a result it suspended the planned listing, prompting Ant to put the Hong Kong leg on hold as well.
China’s central bank issued new draft rules for online micro-lending on Monday that raised the amount of cash borrowers were required to hold. Ant Group owns Alipay, one of the dominant payment companies in China, alongside other subsidiaries including lenders to consumers and small businesses, a credit-scoring company and a healthcare payment products provider.
The suspension threatens to derail the biggest ever corporate fundraising just days after it attracted huge interest from institutional and retail investors across the world, with bids worth $3tn chasing $34bn (£22bn) worth of shares.
According to the original timetable Ant had been scheduled to list on the Hong Kong and Shanghai exchanges on Thursday.The listing had been expected to confirm Ant’s status as one of the world’s biggest companies by valuation, with an expected market value of more than $310bn before shares started trading. That would mean it would rival the valuation of JP Morgan, the world’s most systemically important bank.
As well as its significance for the company, the move was seen as a symbolic moment in China’s development as a financial centre, with one of the world’s biggest companies eschewing a New York listing, unlike its former parent company, Alibaba, the online retail company founded by Ma.
Meziane Lasfer, a professor of finance at City, University of London, said the lateness of the decision to suspend the listing could be harmful to China’s efforts to grow its financial sector. However, he said the greater risk to China’s reputation would be allowing the flotation to go ahead if it had truly identified regulatory problems.
A predecessor to Ant Group was spun out of Alibaba in 2011 but the latter retained a significant stake. New York-listed shares in Alibaba lost 6% on Tuesday.
His stakes in Alibaba and Ant Group have made Ma, a former English teacher, China’s richest man. Ant’s Alipay, launched in 2004, has more than 1 billion users in China, and its Yu’e Bao money market fund is one of the biggest in the world.
However, Chinese firms are also subject to regulation by the Communist party, which might be more cautious if it foresaw issues around a stock market float of Ant’s size, analysts said.
Among the various uncertainties in the global financial markets, Brexit
negotiations and the US presidential election are the most concerned. In
terms of Brexit, it is reported that the UK government will officially
withdraw from negotiations with the EU if a deal isn't achieved this
week. The British government has repeatedly stressed the seriousness of
the statement, with a deadline of October 15 (this Thursday) set by
Prime Minister Johnson. While both sides have acknowledged they are at
loggerheads, Johnson indicated that the country's trading arrangements
with the EU would be like Australia's if no deal was reached.To get more
news about WikiFX, you can visit wikifx official website.
Johnson's Internal Market Bill, which has passed its third reading in the Commons, is aimed to be an incentive for the EU to make concessions. But the Bill is a violation of the Brexit agreement signed earlier. The EU thus intends to take Britain to the International Court of Justice (ICJ). With that said, I believe the impasse can hardly find a break since the UK has tried to get concessions from the EU by breaking international law, and since the EU will be determined to sue the UK for the unacceptable illegal means. The pound may see a wide drop under selling pressures once the EU takes the UK to the ICJ immediately after the British government announces its withdrawal from the negotiations this Thursday.
In terms of the US presidential election, Trump failed to chalk up sympathy votes by his speedy recovery from COVID-19. Besides, his approval ratings haven't received any upside despite Vice President Pence's average performance in the television debate against another candidate. In this case, Trump is likely to fight back with unusual tactics, which may raise the uncertainty in the market and sentiment. As a result, the US dollar will have a chance to rally bolstered by the lasting risk aversion. Conversely, the pound may be dragged down by Brexit uncertainties. In the following week, the selling of the pound may be enduring unless Johnson dramatically makes significant concessions to resolve the crisis of hard Brexit. But in my opinion, to break the deadlock is difficult because the purpose of Johnson's Internal Market Bill is to force the EU to make concessions rather than doing so himself.
Johnson's Internal Market Bill, which has passed its third reading in the Commons, is aimed to be an incentive for the EU to make concessions. But the Bill is a violation of the Brexit agreement signed earlier. The EU thus intends to take Britain to the International Court of Justice (ICJ). With that said, I believe the impasse can hardly find a break since the UK has tried to get concessions from the EU by breaking international law, and since the EU will be determined to sue the UK for the unacceptable illegal means. The pound may see a wide drop under selling pressures once the EU takes the UK to the ICJ immediately after the British government announces its withdrawal from the negotiations this Thursday.
In terms of the US presidential election, Trump failed to chalk up sympathy votes by his speedy recovery from COVID-19. Besides, his approval ratings haven't received any upside despite Vice President Pence's average performance in the television debate against another candidate. In this case, Trump is likely to fight back with unusual tactics, which may raise the uncertainty in the market and sentiment. As a result, the US dollar will have a chance to rally bolstered by the lasting risk aversion. Conversely, the pound may be dragged down by Brexit uncertainties. In the following week, the selling of the pound may be enduring unless Johnson dramatically makes significant concessions to resolve the crisis of hard Brexit. But in my opinion, to break the deadlock is difficult because the purpose of Johnson's Internal Market Bill is to force the EU to make concessions rather than doing so himself.
The trading session for last week candle close below price handle level
1.56 has exposed this pair to further downside slip or selloff as that
zone was and is now looking as very strong supply zone having really
hold off bullish price action.To get more news about WikiFX, you can visit wikifx official website.
There may also be a false bullish flag pattern playing out as buyers could not push and close the price up past the previous week trading session swing high point and therefore further exposing not only the support line level of 1.55 but also the main lower trend line and now explicitly guiding momentum for bearish market speculators.
The 2 day chart below gives a good price action perspective for market participants interested to swing this trade with their defined limit orders and risk to reward parameters as set or defined as per their trading rules.
Of course, ones discretion and risk management is advised.
Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.
Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.
There may also be a false bullish flag pattern playing out as buyers could not push and close the price up past the previous week trading session swing high point and therefore further exposing not only the support line level of 1.55 but also the main lower trend line and now explicitly guiding momentum for bearish market speculators.
The 2 day chart below gives a good price action perspective for market participants interested to swing this trade with their defined limit orders and risk to reward parameters as set or defined as per their trading rules.
Of course, ones discretion and risk management is advised.
Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.
Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.
Prices of gold and silver saw a large retreat four weeks ago just after I
published the Negative Points of Buffetts Buying Gold-Mining Stocks.
Trends of precious metals are seemingly simple but yet proved to be
tricky.To get more news about WikiFX, you can visit wikifx official website.
As of this writing (September 24), spot gold prices have fallen from the all-time high of $2,075.00 to $1,853.50, a decline of 10.67%. Such a drop stems mainly from the upbeat expectations of financial markets on the available coronavirus vaccine, which pushes economic activities back on track. With the economy seeing the start of a pick-up, central banks unwind the pressure on monetary easing, thus gold prices are punished. Besides, as over ten countries have been delivering their gold reserves back from the U.S. and U.K., I suppose some countries are likely to dishoard gold for more cash amid the high gold prices, so as to ease their financial pressure in outbreak response.
The recovered U.S. dollar, of course, is the last factor depressing gold prices. Apart from the changes in the Fed‘s monetary policies, which have sent a rally to the greenback, the Fed officials also stated that the country’s interest rates would have a chance to rise early, fueling further gains for the DXY to breach above the $94 barrier. Moreover, considering the DXY outshines others at the expense of GBP and EUR, all the non-USD currencies, gold, and silver have seen varying degrees of correction.
In terms of catching gold prices, investors are recommended to eye the dollar rather than indiscriminately focusing on other topics. With the U.S. stocks remaining weak recently, the U.S. dollar has bottomed out due to the RSI divergence, which becomes another key affecting the dollars trends. The trends on the chart show that the current DXY is expected to reclaim the $95.716 level, putting correction pressures on gold prices and non-USD currencies in the short run. From my estimate, gold may challenge a lower level of $1,765.00 this time while the silver is highly like to further decrease to $19.648.
As of this writing (September 24), spot gold prices have fallen from the all-time high of $2,075.00 to $1,853.50, a decline of 10.67%. Such a drop stems mainly from the upbeat expectations of financial markets on the available coronavirus vaccine, which pushes economic activities back on track. With the economy seeing the start of a pick-up, central banks unwind the pressure on monetary easing, thus gold prices are punished. Besides, as over ten countries have been delivering their gold reserves back from the U.S. and U.K., I suppose some countries are likely to dishoard gold for more cash amid the high gold prices, so as to ease their financial pressure in outbreak response.
The recovered U.S. dollar, of course, is the last factor depressing gold prices. Apart from the changes in the Fed‘s monetary policies, which have sent a rally to the greenback, the Fed officials also stated that the country’s interest rates would have a chance to rise early, fueling further gains for the DXY to breach above the $94 barrier. Moreover, considering the DXY outshines others at the expense of GBP and EUR, all the non-USD currencies, gold, and silver have seen varying degrees of correction.
In terms of catching gold prices, investors are recommended to eye the dollar rather than indiscriminately focusing on other topics. With the U.S. stocks remaining weak recently, the U.S. dollar has bottomed out due to the RSI divergence, which becomes another key affecting the dollars trends. The trends on the chart show that the current DXY is expected to reclaim the $95.716 level, putting correction pressures on gold prices and non-USD currencies in the short run. From my estimate, gold may challenge a lower level of $1,765.00 this time while the silver is highly like to further decrease to $19.648.
When financial markets have been eyeing on issues such as China-U.S.
relations, the U.S. presidential election and the second wave of the
pandemic, Europe seems to be gearing up for a black swan, an event in
which a deterioration will trim the recently weak euro even lower.To get
more news about WikiFX, you can visit wikifx official website.
A barrage of large-scale demonstrations broke out after Belaruss presidential election because local people suspected Lukashenka conducted ballot rigging and called for his resignation. With an 80% approval rating and the strong support from Russian President Vladimir Putin, Lukashenka won the re-election and refused to step down, which worsened the situation on the ground.
The European Union officially refused to recognize Lukashenka as the new president of Belarus, saying the announced results were fraudulent and did not convey legitimacy. At the same time, the UK declared it would impose sanctions against Belarus while French President Emmanuel Macron also called on Lukashenko to step down. Nevertheless, the Belarusian government still took a hard line and accused outside meddling in the internal affairs. It seems Belarus is seeing further deterioration rather than embracing a peaceful settlement.
While the ostensible opponent of the EU is Belarus, the actual one is Russia. The battle between the two sides over the Belarus dispute will upgrade the tension in Europe. Once the situation in Belarus gets out of hand, the euro may swallow a bitter pill.
In the financial market, several events have staged their performance: the UK-EU trade talks from Monday to Friday, the first US presidential debate and the release of US GDP on Wednesday, the EU summit on Thursday, and the release of US jobs data on Friday. The EU summit was expected to see the sanction against Belarus unanimously passed, thus Russias response would be thrust into the spotlight. These events would spoil the fun in the financial market.
A barrage of large-scale demonstrations broke out after Belaruss presidential election because local people suspected Lukashenka conducted ballot rigging and called for his resignation. With an 80% approval rating and the strong support from Russian President Vladimir Putin, Lukashenka won the re-election and refused to step down, which worsened the situation on the ground.
The European Union officially refused to recognize Lukashenka as the new president of Belarus, saying the announced results were fraudulent and did not convey legitimacy. At the same time, the UK declared it would impose sanctions against Belarus while French President Emmanuel Macron also called on Lukashenko to step down. Nevertheless, the Belarusian government still took a hard line and accused outside meddling in the internal affairs. It seems Belarus is seeing further deterioration rather than embracing a peaceful settlement.
While the ostensible opponent of the EU is Belarus, the actual one is Russia. The battle between the two sides over the Belarus dispute will upgrade the tension in Europe. Once the situation in Belarus gets out of hand, the euro may swallow a bitter pill.
In the financial market, several events have staged their performance: the UK-EU trade talks from Monday to Friday, the first US presidential debate and the release of US GDP on Wednesday, the EU summit on Thursday, and the release of US jobs data on Friday. The EU summit was expected to see the sanction against Belarus unanimously passed, thus Russias response would be thrust into the spotlight. These events would spoil the fun in the financial market.
While the public was worrying about whether Trump's condition would
worsen, the president has been reported to be on a path to a full
recovery and may be discharged from the hospital soon. His speedy
recovery surprised financial markets, causing analysts to refocus on the
underlying fundamentals.To get more news about WikiFX, you can visit wikifx official website.
Although Trump debated hotly against Democratic presidential candidate Biden last Wednesday, the latest polls show that he has failed to turn things around as his support rate is still 10% behind Biden, coupled with his miraculously speedy recovery. Amid the dampened risk aversion, US stocks may have a chance to rebound sharply this week, which may push the DXY back to the resistance zone of 93.527-93.465.
As the greenback is hampered in the short term, there is room for non-dollar currencies to rebound, among which the euro and the pound are not strong enough due to their respective concerns. A recovery in global stock markets may boost the Australian dollar and the Swiss franc in the short term. This week, therefore, AUD/USD may grasp a chance to challenge the above resistances of 0.7267 and 0.7345, while the Swiss franc, another currency with no much concern, will vigorously challenge the support zone of 0.9121-0.9049 amid the hampered dollar.
The vice-presidential debate was held on October 7. Although many people do not value it, I believe it is definitely worth watching this time because last week's debate between Trump and Biden is much more like a quarrel, which is arguably the worst one in American history. Thus all eyes should better turn to this debate for the relevant platforms. Besides, considering the advancing years of both the presidential candidates, the elected vice president will take office then once the elected president cannot finish the term for some reason. With that said, I believe the debate between the two vice-presidential candidates may send some volatility through financial markets. Thus investors should not take it lightly.
Although Trump debated hotly against Democratic presidential candidate Biden last Wednesday, the latest polls show that he has failed to turn things around as his support rate is still 10% behind Biden, coupled with his miraculously speedy recovery. Amid the dampened risk aversion, US stocks may have a chance to rebound sharply this week, which may push the DXY back to the resistance zone of 93.527-93.465.
As the greenback is hampered in the short term, there is room for non-dollar currencies to rebound, among which the euro and the pound are not strong enough due to their respective concerns. A recovery in global stock markets may boost the Australian dollar and the Swiss franc in the short term. This week, therefore, AUD/USD may grasp a chance to challenge the above resistances of 0.7267 and 0.7345, while the Swiss franc, another currency with no much concern, will vigorously challenge the support zone of 0.9121-0.9049 amid the hampered dollar.
The vice-presidential debate was held on October 7. Although many people do not value it, I believe it is definitely worth watching this time because last week's debate between Trump and Biden is much more like a quarrel, which is arguably the worst one in American history. Thus all eyes should better turn to this debate for the relevant platforms. Besides, considering the advancing years of both the presidential candidates, the elected vice president will take office then once the elected president cannot finish the term for some reason. With that said, I believe the debate between the two vice-presidential candidates may send some volatility through financial markets. Thus investors should not take it lightly.
After the EU‘s chief negotiator Michel Barnier had a 12-hour tunnel talk with the UK last Friday, British Prime Minister Boris Johnson’s official spokesman stated that although some progresses had been made, it is a pity that both sides did not reach an agreement due to some divergences. The EU hoped that the UK can make more concessions to reach the trade agreement that has been discussed for a long time.To get more news about WikiFX, you can visit wikifx official website.
The financial market seems to believe that both sides will reach an agreement, which brought a continuous rebound sterling. Hence, GBP/USD rallied to 1.3049 from 1.2675 recorded on September 23th, showing no worry about the UKs hard brexit in the financial market. Johnson said last week that according to an ultimatum, if the agreements are not likely to be reached before October 15th, the UK will terminate the negotiation completely and plan to brexit without trade agreements.
It is believed that the EU will file a suit against the UK on its internal market bill, so more attention should be paid in the next few days. And sterling is supported by the easing atmosphere in the negotiation. If sterling keeps rebounding, there would be a dramatic turning point that the final trading agreement is signed between the UK and EU. However, be careful that the good news may bring more attention in addition to some risks. The latest economic data released by the UK seems very bad, and its future data is expected to be worse due to the second round of COVID-19 outbreak.
Therefore, the Bank of England is more likely to impose negative interest rates or strong quantitative easing. It is estimated that some senior traders will seize the chance to sell in the market, and sterling may drop from a high level under the pressure. If the good news comes, sterling may challenge the upward resistance level of 1.3186-1.3267. So investors should be careful about buying at the level area. Meanwhile, sterling is set to fall to the level of 1.28 due to the possible hype based on the negative news in the market.