Germany’s DIHK chambers of industry and commerce expect Europe’s largest economy to shrink by 0.5% this year as high energy prices, heavy bureaucracy, a skilled workers shortage and weak domestic demand weigh on economic output. A DIHK poll of more than 27,000 companies showed that of those surveyed, 35% expect business to deteriorate in the … Read more
The rouble recovered from sinking to its lowest in nearly 15 months against the dollar on Monday, paring all intraday losses to strengthen as investors responded for the first time to an aborted mutiny by armed mercenaries in Russia over the weekend. Mercenaries led by Yevgeny Prigozhin withdrew from the southern Russian city of Rostov-on-Don … Read more
Key jobs figures in the United States, Chinese business activity data and European inflation readings are giving more evidence on the pull and push factors impacting the world’s top economies as the debt ceiling saga in Washington rumbles on. In Turkey, voters head to the polls to decide on their next president and tech investors … Read more
The dollar touched a six-month high against the yen on Tuesday as expectations grew that U.S. rates will remain higher for longer and as the debt ceiling impasse kept risk sentiment fragile. Among a slew of Federal Reserve heavyweights who spoke on Monday, some hinted that the central bank still has more to go in … Read more
The yen sank against major peers on Monday after U.S. payrolls data bolstered the case for further Federal Reserve rate hikes, highlighting a growing disparity with Japan where the central bank continues to pin the benchmark yield near zero. Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.-China tensions over Taiwan, with … Read more
Asian stocks struggled to come off two-month lows on Wednesday and the safe-haven dollar was firm as concerns about rising interest rates and slowing global growth kept the mood downbeat, while markets waited on economic data to chart the course ahead. MSCI’s broadest index of Asia-Pacific shares outside Japan touched its lowest since early January … Read more
New Delhi: Russia and India plan to drop all use of the US dollar and the euro in bilateral settlements and conduct all trade transactions in rupee and rouble, a senior Russian official has said. While it’s a fundamental decision by both sides, it is necessary to address the imbalance in trade for a full-fledged … Read more
Asian shares rose and bond yields firmed in early trade on Tuesday despite mild losses from Wall Street overnight as investors turned their focus to the Federal Reserve’s policy meeting this week for hints on what comes next. The central bank is all but certain to raise interest rates by 75 basis points on Wednesday, … Read more
LONDON- The pound on Friday tumbled to a fresh 37-year low on the U.S. dollar, and a 17-month trough on the euro, after weaker-than-expected figures of retail sales added to worries about the health of Britain’s economy. The pound fell more than 1% against the dollar to 1.1351, its lowest since 1985, its fall accelerating … Read more
Spot gold closed Friday with a gain of nearly 0.50% at $1717.10 as the US Dollar Index retreated 0.67% to close at 108.97. A confluence of factors led to a decline in the Dollar Index, none of which may last for long. The dollar fell as the US treasury secretary Ms Yellen commented that the … Read more