This week, investors’ attention is fixated on the actions of central banks, particularly the Federal Reserve and the European Central Bank (ECB). The backdrop to this anticipation has been set by the unexpected rate hikes from the Reserve Bank of Australia and the Bank of Canada, which occurred last week. These moves, contrary to the prevailing consensus, have not only sent ripples through the financial markets, but also reshaped the discourse around the durability of current interest rates. The financial community is now confronting the stark realisation that the much-anticipated rate cuts may not materialise this year, and possibly might not surface until well into the next year.
In connection with the upcoming public holidays in the USA (Memorial Day), UK (Bank Holiday) and Norway (Pentecost), on May 29 and 30 (Monday and Tuesday), there will be changes to the trading hours of some markets, as follows:
From today you can trade even more CFDs on popular cryptocurrencies such as Dogecoin, Cardano, Solana and several others, which were added by Deltastock to its ever expanding instrument portfolio.
We would like to inform you that due to Labour Day (May 1) and the UK Bank Holiday (May 8) some CFD markets will be closed on the respective dates:
1 May (Monday)
- The European shares and indices, as well as the HONGKONG33 index
8 May (Monday)
- The UK100 index and the UK shares
Also applies to the respective mini, micro and cash instruments in Delta Trading.
The DeltaStock team
Last week the shares of Credit Suisse fell to an all-time low, causing the Swiss National Bank to step in with a liquidity lifeline of up to 50 billion Swiss francs ($54 billion). This marked the first major bank intervention since the 2008 global financial crisis. The bank’s shares have nosedived nearly 98% since their peak in April 2007, while credit default swaps, insuring bondholders against defaults, reached record highs.
The prolonged period of low interest rates has led to banks operating in a certain way, and now that rates are rising, certain banks are finding it difficult to adjust. This was highlighted by the recent announcement from Silicon Valley Bank (SVB) that it is insolvent.