Brazil’s Galipolo Tapped as Central Bank Head, Aussie and Kiwi Set to Outperform Global Peers, Fed’s Powell Testifies, Santos Boss Racing Against Time, Hedge Funds Stung by Tesla Rally, S&P 500 Powers Ahead, Wall Street’s Big Bond Bet Revives, Texas Governor Signs Economic Pact with Taiwan, ECB Can’t Rush Neiman Deal, UK Housebuilding Stalls, Buyers Finding Opportunities in Toronto Housing Market, Five Key Charts to Watch in Global Commodity Markets, Gold Pushes Higher, Putin Hosts Modi, Hedge Funds Stung by Tesla Rally, S&P 500 Powers Ahead.
Brazil’s Galipolo is set to be tapped as the new Central Bank head, according to reports from Globo. This decision comes as President Luiz Inacio Lula da Silva considers Brazil’s needs over financial market demands. The appointment of Galipolo is still pending official confirmation.
In other news, Aussie and Kiwi currencies are expected to outperform global peers due to bets on a rates hike. Meanwhile, the Federal Reserve’s Powell testified on cooling inflation and hiring trends. Santos Boss is racing against time to build a gas giant, while hedge funds that bet against Tesla are stung by the electric car company’s huge rally.
On Wall Street, the high-priced S&P 500 continues to power ahead despite political stress. The big bond bet is reviving ahead of pivotal inflation data, and Texas Governor signs an economic cooperation pact with Taiwan. In the UK, housebuilding stalls as projects are delayed before the election.
Buyers are finding opportunities in Toronto’s housing market despite high mortgage rates, and gold prices are pushing higher as investors expect the Fed to ease. Putin hosts Modi after hailing strong ties with India, and hedge funds that bet against Tesla are stung by the company’s rally.
Overall, the global commodity markets are being closely watched this week with five key charts to monitor. The news is available on BNNBloomberg for those interested in reading the full text.