Global stock markets steadied on Thursday after the Federal Reserve cut interest rates but investors were circumspect after the world’s biggest central bank signalled a measured approach to further monetary policy easing. U.S. equity futures advanced 0.3%, after a uneven session on Wall Street overnight, while shares in Korea and Taiwan led gains in Asia, … Read more
“The Fed is supposed to be independent. It is not supposed to play politics and Trump is risking reducing the credibility of the Fed and which has an impact obviously on the bond market, on the currency markets, on all the financial markets by continuing to bash Powell,” says Ed Yardeni, Yardeni Research.Let us first … Read more
The dollar slid on Thursday on further signs that U.S. President Donald Trump may adopt a softer stance in tariff negotiations and heightened expectations of Federal Reserve rate cuts. Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs are imposed. … Read more
The yen touched a three-month low on Monday as Japan’s ruling coalition lost its parliamentary majority and investors figured that would likely slow future interest rate hikes, while the dollar headed for a monthly gain on rising U.S. yields. On the dollar, the yen hit its weakest since late July at 153.3 in early-morning trade … Read more
A lull in bond selling stretched into Asia trade on Friday, but may not last the day as investors waited on U.S. jobs data that could add to the case for keeping interest rates high for some time. Sliding oil prices have also provided some relief to markets, with Brent crude futures at $84.50 a … Read more
ISTANBUL—Turkey’s President Recep Tayyip Erdogan dismissed the central bank governor as the country is beset by its second currency crisis in two years. In a decree published in the early hours of Saturday, Mr. Erdogan ended the mandate of Murat Uysal, who had led the institution since the summer of 2019, replacing him with Naci … Read more
FRANKFURT—The European Central Bank left its large monetary stimulus unchanged Thursday, as policy makers wait to see how a resurgence in Covid-19 cases across the continent and a jump in the value of the euro might affect the region’s economy. ECB President Christine Lagarde said the bank is paying close attention to the currency, highlighting … Read more
WASHINGTON—U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole an estimated more than $1 billion from exchanges around the world, including U.S.-based Algorand. The U.S. Justice Department said the accounts targeted in the civil forfeiture filing were used by the North Korean hackers and … Read more