Asian equities rose sharply on Wednesday, tracking a relief rally on Wall Street and as U.S. inflation data delivered no nasty surprises, reinforcing hopes the Federal Reserve will likely go for a smaller rate hike when it meets next week. Investors piled back into stocks in U.S. markets overnight as fears about contagion in the … Read more
India and the UK have agreed to make further progress on the ongoing negotiations for a free trade agreement (FTA) and also to swiftly organise the next bilateral Economic and Financial Dialogue soon, the British government said on Saturday. At the conclusion of UK Chancellor Jeremy Hunt’s India visit for the G20 Finance Ministers and … Read more
US Treasury Secretary Janet Yellen says inflation will be much lower by the end of next year, as long as there are no unanticipated shocks to the economy. “I believe inflation will be lower,” Yellen said during an interview Sunday on CBS’ “60 Minutes.” “I am very hopeful that the labor market will remain quite … Read more
The dollar languished on Friday after U.S. inflation data came in cooler than expected, raising market hopes that inflation may have peaked and that the Federal Reserve will begin scaling back its hefty interest rate increases. Figures showed that the consumer price index rose 7.7% year-on-year in October, the smallest gain since January and below … Read more
The British government on Monday axed almost all of its debt-fuelled tax cuts unveiled last month to avert fresh markets chaos, in a humiliating climbdown for embattled Prime Minister Liz Truss. The shock move by new finance chief Jeremy Hunt, parachuted into the job on Friday to replace sacked Kwasi Kwarteng, leaves Truss’ position in … Read more
On the decoupling debate, few days of brutal market action was enough to make a twist in the tale. The debate has now moved from decoupling to recoupling in matter of days for India. The death knell for decoupling debate came when Fed in its latest policy meeting turned more hawkish with its forecast for … Read more
Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve later in the day. Japan’s Nikkei dropped 1.26% and touched a two-week low. Australia‘s benchmark share index slid 1.35% and South Korea’s Kospi fell 0.9%. Chinese blue chips declined 0.82%, … Read more
Gold prices traded in a tight range on Tuesday, as investors maintained a cautious stance ahead of this week’s policy meeting by the Federal Reserve where the U.S. central bank is likely to hike interest rates to tame high inflation. FUNDAMENTALS * Spot gold held its ground at $1,676.80 per ounce, as of 0037 GMT. … Read more
Asian shares tumbled, the dollar held firm and the U.S. yield curve was deeply inverted on Wednesday, as a white-hot U.S. inflation report dashed hopes for a peak in inflation and fuelled bets that interest rates may have to be raised higher and for longer. U.S. Labor Department data showed on Tuesday the headline Consumer … Read more
A broad sell-off sent U.S. stocks reeling on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the coming months. All three major U.S. stock indexes veered sharply lower, snapping four-day winning streaks and notching their biggest one-day percentage drops since June 2020 … Read more