The Week in Perspective
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The third quarter of 2022 draws to a close with monetary and military hawks prevailing, and financial markets nursing some of the worst setbacks in decades.
Russian President Vladimir Putin is set to host a Kremlin ceremony later today annexing about 15% of Ukraine, after what Ukraine and Western countries said were sham votes staged at gunpoint in Russian-occupied areas of Donetsk, Luhansk, Kherson and Zaporizhzhia.
Washington and the European Union are set to impose additional sanctions on Russia over the annexation plan.
In markets, the U.S. dollar is finishing the quarter with its reign unchallenged, even as a hot German inflation print has investors betting the European Central Bank will get more aggressive, Britain intervenes to shore up gilts and the pound and China girds for a heavier yuan defence.
The rand slipping past R18 to the dollar not even among the worst.
Later in the day, we will be told how much Japan spent last week defending the yen , and gauge how many rounds of ammunition it has left, given only $135.5 billion of its $1.3 trillion in reserves are held in the form of deposits.
That comes on the heels of hot weekly U.S. unemployment claims data which confirmed the Fed will stay on its aggressive monetary policy tightening path.
To put the week into perspective Michael Avery is joined by Warwick Lucas, Head ofGalileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes & Raymond Parsons, Professor: School of Business and Governance at NWU
Russian President Vladimir Putin is set to host a Kremlin ceremony later today annexing about 15% of Ukraine, after what Ukraine and Western countries said were sham votes staged at gunpoint in Russian-occupied areas of Donetsk, Luhansk, Kherson and Zaporizhzhia.
Washington and the European Union are set to impose additional sanctions on Russia over the annexation plan.
In markets, the U.S. dollar is finishing the quarter with its reign unchallenged, even as a hot German inflation print has investors betting the European Central Bank will get more aggressive, Britain intervenes to shore up gilts and the pound and China girds for a heavier yuan defence.
The rand slipping past R18 to the dollar not even among the worst.
Later in the day, we will be told how much Japan spent last week defending the yen , and gauge how many rounds of ammunition it has left, given only $135.5 billion of its $1.3 trillion in reserves are held in the form of deposits.
That comes on the heels of hot weekly U.S. unemployment claims data which confirmed the Fed will stay on its aggressive monetary policy tightening path.
To put the week into perspective Michael Avery is joined by Warwick Lucas, Head ofGalileo Securities; Isaah Mhlanga, Chief Economist at Alexforbes & Raymond Parsons, Professor: School of Business and Governance at NWU
