The rouble slumped to a more than 18-month low against the dollar on Monday past the 102 mark, still hampered by reduced foreign currency supply and struggling to latch on to higher oil prices as the violence in Israel hurt risk appetite.
Conflict in the Middle East lifted oil and safe-haven government bonds and hurt global stocks and Israeli assets on Monday after Friday’s sizzling September U.S. jobs report raised the rate stakes for inflation figures later in the week.
The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market, the central bank’s first ever sale of foreign exchange, to maintain stability during the war with Palestinian militants in Gaza.
The U.S. Federal Reserve’s top regulatory official will discuss a sweeping proposal to overhaul bank capital rules before the country’s largest bank lobby on Monday, as he faces intense industry pushback against the rules which bankers say will hurt lending.
The richest Americans are emerging from the coronavirus pandemic with their share of wealth and income on the rise again despite some thought that the tight job market and hefty wage gains spawned by the crisis might narrow the gulf between rich and poor.
A resilient economy and strong consumer demand are expected to fuel a slight rise in third-quarter U.S. earnings, which could throw a lifeline to a stock rally that has stumbled in recent months.
Sam Bankman-Fried’s fraud trial has featured dense testimony about computer code, cryptocurrency and corporate finance, but U.S. District Judge Lewis Kaplan’s dry sense of humor has provided the occasional moment of levity.
U.S. stock index futures fell on Monday as a deepening conflict between Israel and the Palestinian Islamist group Hamas roiled global markets and pushed investors toward safe-haven assets, while crude prices jumped close to 4%.
