The US dollar increased during European trade today, showing the best result in seven months after Federal Reserve’s announcements. The dollar index gained 0.1% to 97.345 restoring after a long depressive period.
Japan’s pandemic measures create zombie companies. The last year had the fewest bankruptcies in half a century. That’s the outcome of Japan’s effective pandemic economy support, but there is a major drawback: many firms fed with zero-interest loans and endless subsidies end up non-performing yet still afloat. Such policy creates faulty competition which, in normal conditions, should’ve flushed some companies away. This might slow down economic growth and weaken the effects of monetary easing.
Apple chief financial officer Luca Maestry reported that the company expects strong year-on-year revenue growth next quarter, but also expects growth to slow down from last quarter which was a result of 11% revenue increase — the best in the company’s history. These have exceeded analysts’ estimates in every product except iPads. The company’s CEO Tim Cook said that Apple has gradually improved its supply chain reacting to modern market challenges which led sending share to increase by 5%.
The price of Brent crude is $88.42, WTI — $86.92, GBP/USD — 1.3367, EUR/USD — 1.1128, and gold costs $1789.60 per ounce.